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HTLS 2019: We’re moving towards simplified, harassment-free taxation regime, says Nirmala Sitharaman

“We are moving towards a more simplified and harassment-free taxation regime,” Union Finance minister Nirmala Sitharaman said at the Hindustan Times Leadership Summit.

Updated: Dec 10, 2019 19:39 IST

By HT Correspondent, Hindustan Times New Delhi

Asked if the government is thinking of an income tax cut to boost the economy, Sitharaman said that the government is considering it. (HT Photo)

Union Finance minister Nirmala Sitharaman on Saturday said that the government wants to ensure that taxpayers have no fears of the taxmen.

“We are moving towards a more simplified and harassment-free taxation regime,” she said at the Hindustan Times Leadership Summit. “I appeal to the assessees to approach revenue secretary’s office, we will make sure your problems are addressed.”

Asked if the government is thinking of an income tax cut to boost the economy, she said that the government is considering it.

Catch all the live updates from Hindustan Times Leadership Summit 2019 here.



“Tax rate cut is one among the many things we are thinking. But you will have to wait for the Budget… We want to make sure that there are no ifs and buts in the entire taxation structure.”



Watch | #HTLS2019: Watch FM Nirmala’s response on whether govt will cut income tax

 

On slowing growth, Sitharaman said her attention is to make sure more is done for greater stimulus.

“This 4.5 per cent (GDP numbers) relates to July-Aug-Sept. I don’t want to underplay the role of private banks. Nearly Rs 5 lakh crores have been distributed to those who want to take the credit and this has happened in 400 districts of the country. It means money reaching for consumption purposes. The other way is direct benefit transfer.”

On boosting consumer confidence she said she seeks suggestions from all quarters.

“I ask that question all the time. I do not want to think what I have done is enough. I want to know it from others. That question cannot be alone addressed by me.”

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