Sitharaman asks tax experts to bite the bullet
Finance Minister Nirmala Sitharaman urged tax professionals and industry bodies to challenge exemptions and lower rates, instead identifying provisions that no longer serve the tax system. Speaking at the 8th International Tax Conference in Bengaluru, Sitharaman emphasized the need for a more evidence-based tax policy debate focused on national interest.
She called for quantified alternatives explaining the impact of proposed changes on revenue, administration, compliance costs, and other taxpayers. Sitharaman highlighted the government's focus on reducing litigation through reforms like the Vivad se Vishwas schemes, increased thresholds for departmental appeals, and the replacement of the Income Tax Act with a plain-language code.
The Ministry also rationalized tax deductions and sought independent tax research to inform public policy decisions for India's economic future.
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