IT Department giving Income Tax Certificate of Appreciation for Encouraging Tax payers
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Such an idea is delivered from the Central Finance Ministry. Arun Jaitley, on 19th Sep 2016, handed over these certificates to some of the selected taxpayers. Central Board of Direct Taxes (CBDT), Chairperson Rani Singh Nair will be signs these certificates.
Ministry of Finance and CBDT ha categorized the taxpayers into Bronze, Silver, Gold and Platinum. Based on the income tax paid every year by the individual he will be placed n the category.
The layers suggested for categorization are between Rs. 1 lakh and Rs.10 lakh belong to Bronze category, between Rs. 10 lakh and Rs. 50 lakh will be in Silver category, between Rs. 50 lakh and Rs. 1 crore will be Gold category and finally those who pay above Rs. 1 crore are placed in the platinum category.
Till date, the individuals in India have only one opinion. And that is whenever tax is not paid in time, and IT departments knock the doors through email or with any other communications. Interestingly, breaking the ice of that negative thinking, a positive step by the IT department is appreciable. A letter of appreciation from IT department should be applauded.
IT Certification of appreciation letters can be taken a printout and can be framed as a matter of pride. It also resembles the amount of the tax we are paying in for the outsiders. The appreciation letter also admires by mentioning thanks to the individual for his part in building the nation.
Surprisingly, only 1% of Indian population pay taxes. Out of 125 billion population, this percentage is something to be ashamed of.
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