Hyderabad, Dec 5: Governor Dr. Tamilisai Soundararajan on Saturday said that payment of income tax contributes for the nation’s progress.
The taxes are major
sources of revenue for the governments and they help the governments take up
welfare and developmental programmes.
The Governor was
participating as the chief guest at the inaugural of the 23rd
National Convention of the All India Federation of Tax Practitioners (AIFTP) in
virtual mode from the Raj Bhavan, here.
She said that transparent
payment of income tax was also a form of patriotism that facilitates the
strengthening and progress of the nation.
Citing the Central Board
of Direct Taxes (CBDT) statistics, Dr. Tamilisai Soundararajan said that only
around 1.5 crore people actually pay the tax on their income out of a total of
130 crore people in our country.
“According to the CBDT, the
number of people who filed their returns was 5.78 crore in the financial year
2018-19 in our country. And among these, only 1.46 crore people were liable to
pay tax on their income,” she added.
The Governor said that
despite the fact that income tax structure was people-friendly in our country;
the awareness on the need to pay income tax was very low.
Dr. Tamilisai
Soundararajan exhorted the tax practitioners to strive to create better
awareness on the need to pay income tax and come up with simplified tax
procedures for the same.
The Governor lauded the
services of the All India Federation of Tax Practitioners for its services in
the tax domain in the country and added that its suggestions were being
respected by the Central government.
Supreme Court Judge
Justice Vineet Saran was the Guest of Honour at the inaugural of the two-day
national convention of the federation being held from Hyderabad.
AIFTP representatives
Nikita R Badeka, M. Srinivasa Rao, PV Subba Rao, MVK Moorthy, and Ashok Saraf,
were among others who were present.
As part of the event, the
Governor released the AIFTP’s 23rd National Convention Souvenir.
-Press note
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