Gujarat CM Bhupendra Patel Celebrates Taxpayers on 165th Income Tax Day

Gandhinagar (Gujarat) [India], July 25: Chief Minister Bhupendra Patel praised the transformation of the tax system from a process-centric to a people-centric model, driven by Prime Minister Narendra Modi’s vision of reform, perform, and transform. Speaking at an event organized by the Income Tax Department in Ahmedabad to mark the 165th Income Tax Day, CM Patel honored taxpayers through the ‘Honoring the Honest’ initiative.

He emphasized that achieving the goal of making India the world’s third-largest economic power in the Prime Minister’s third term requires leveraging future-oriented infrastructure, technology, welfare schemes, and the judicious use of taxpayer contributions in development projects. The Chief Minister highlighted the vital role of taxpayers’ contributions as a significant revenue source and commended Prime Minister Modi for enhancing transparency and ease in the Income Tax Department through technological innovations.

CM Patel acknowledged the advancements made for taxpayers over recent decades, noting the increased transparency brought by faceless assessments and appeals. He mentioned that this year’s Union Budget focuses on simplifying taxation and improving services for taxpayers. A review of the Income Tax Act of 1961, aimed at making it more concise and clear, is a significant aspect of the budget.

The Chief Minister expressed his belief that the collaborative efforts of taxpayers and Income Tax Department personnel will be pivotal in realizing the Prime Minister’s vision of Viksit Bharat. He also stated that Gujarat serves as both a role model and a growth engine for the country’s development, while also leading in tax contributions. In the fiscal year 2023-24, Gujarat achieved a tax collection of 64 thousand crore rupees, with a growth rate in new return filings exceeding the national average.

At the event, Chief Income Tax Commissioner Yashwant Chauhan welcomed everyone and mentioned that Finance Minister James Wilson first included tax revenue in the budget in 1860. He noted that new Acts were introduced in 1865, 1922, and 1961. The Income Tax Commissioner commended the country’s progress across various sectors and pointed out that for the fiscal year 2024-25, the Income Tax Department is expected to contribute 46 per cent of the budgeted revenue.

Chief Income Tax Commissioner of TDS, Dr Banwarilal, conveyed his gratitude to the Chief Minister, applauding the state’s policies that have fostered Gujarat’s growth in business and industry, leading to impressive tax collections. The Income Tax Commissioner assured the Chief Minister that the Income Tax Department would continue to serve taxpayers with dedication under his guidance.

During the event, the Chief Minister honored the top two taxpayers in the state and one newly established local manufacturing company with the highest tax contributions for the assessment year 2023-24. The event was attended by numerous officers and employees from the Income Tax Department, other related departments, and taxpayers.