Govt asks taxpayers to disclose true income or face action

Taxpayers

Soon after assuming charge of the Ministry, Finance Minister P Chidambaram had made a statement regarding taxation and tax administration.

He had emphasised on clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution and an independent judiciary that will provide great assurance to investors.

Asking assesses to pay advances taxes by due date, Chidambaram had said: "paying taxes is a mark of civilisation.

If I pay more taxes, I should be more happy and more proud. I am making more money and I am paying more taxes".

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