Hyderabad, Dec.5 (Hydnow): 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.
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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.
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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.
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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 23 rd National Convention Souvenir. (Hydnow)