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FM announces amendment of Companies Act to decriminalise tax defaults

FM announces amendment of Companies Act to decriminalise tax defaults

Sunday, February 2, 2020, 7:56 AM

FM Nirmala Sitharaman in her Budget-speech said government will amend the Companies-Act and other laws to remove the criminality clause on tax-issues. She also announced taxpayers' charter to be enshrined in the statutes and added that tax-harassment will not be tolerated. Sunil Badala, Partner-Tax at KPMG India, said taxpayer charter becoming part of statute is a great move that will inspire trust and confidence.
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