167th Income Tax Day: Sitharaman outlines '5Rs' of responsive tax governance
Finance Minister Nirmala Sitharaman, at the CBDT's 167th Income Tax Day celebrations in New Delhi on 24 July 2026, outlined the '5Rs of Responsive Tax Governance' – Recognise, Respond, Redress, Reflect and Reform.
Summary
Sitharaman described the implementation of the Income-tax Act, 2025 as a landmark reform that simplified the law and cut compliance costs, and called for reducing litigation by strengthening tax certainty. Revenue Secretary Arvind Shrivastava called the new Act, rules and forms landmark reforms. CBDT Chairman Ravi Agrawal highlighted faster return processing and grievance redressal. The FM released six publications.
Key facts
- Occasion
- 167th Income Tax Day, CBDT, New Delhi – 24 July 2026
- 5Rs
- Recognise, Respond, Redress, Reflect, Reform
- Law in force
- Income-tax Act, 2025
- CBDT Chairman
- Ravi Agrawal
- Publications released
- Six
Practice MCQs 2 questions
Which anniversary of Income Tax Day was celebrated by the CBDT on 24 July 2026?
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Correct answer: A — 167th
The CBDT celebrated the 167th Income Tax Day in New Delhi on 24 July 2026.
Which of the following is NOT one of the '5Rs of Responsive Tax Governance' outlined by the Finance Minister on Income Tax Day 2026?
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Correct answer: C — Revenue
The 5Rs are Recognise, Respond, Redress, Reflect and Reform. 'Revenue' is not one of them.