He also said that all grey areas are being made clearer when it comes to taxation and the tax department. In a strong message to those evading tax, Jaitley said such people would face serious action and that the government is plugging the escape routes. “Ease of communicating with tax department is going to continue. In the last few months, procedures have been simplified and the “assessees have never seen such an easy and friendly approach of the taxation department”, he noted. But our tax rate will be reasonable, base has to be much larger and the tax department has to start trusting the assessee and the taxpayer,” he said.

Source: Mint July 03, 2016 15:00 UTC