During the 165th Income Tax Day celebrations in Delhi, Union Finance Minister Nirmala Sitharaman announced a new tax regime aimed at simplifying the tax process and improving taxpayer services. She emphasized that the new regime is a well-thought-out option for taxpayers. Sitharaman urged the Income Tax Department to simplify tax notices and adopt a more friendly and transparent approach, avoiding intimidatory language. She outlined four major objectives for the reforms: simplified taxes, improved taxpayer services, tax certainty, and reduced litigation. The Finance Minister also highlighted the importance of using enforcement as a last resort, indicating a shift towards encouraging compliance rather than intimidation. Additionally, the Chairman of the Central Board of Direct Taxes (CBDT), Ravi Agarwal, stated that more resources would be deployed to prevent harassment of companies and address pending cases. Sitharaman noted that an increase in tax collections reflects India's growing formalization as an economy.