Amidst concerns of rising harassment of corporates by tax officials and authorities, Finance Minister on Friday said that the government would take measures to curb such instances, including the introduction of "faceless" tax scrutiny from the upcoming "Vijaya Dashami".
New Delhi, Aug 23: Amidst concerns of rising harassment of corporates by tax officials and authorities, Finance Minister on Friday said that the government would take measures to curb such instances, including the introduction of "faceless" tax scrutiny from the upcoming "Vijaya Dashami".
She also said that tax notices and summons without a computer generated unique ID number would not be valid. This measure would help in curbing the unauthorised tax summons.
On violation of corporate social responsibility norms, the Minister said that such violations would not be treated as criminal offences. Persecution will be replaced with a more humane approach. Wealth creators will be honoured and respected.
Live updates here:
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(MCLR is Marginal Cost of Funds based Lending Rate (MCLR)- the minimum interest rate, below which a bank is not permitted to lend )
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(With inputs from agencies)