“That is one other initiative by the federal government in direction of minimising litigation,” the Division stated in a press release.
As per e-DRS, a taxpayer can go for the scheme in opposition to the ‘specified order’ which incorporates an order wherein the combination sum of variations proposed or made doesn’t exceed ₹10 lakh and returned earnings for the related evaluation 12 months doesn’t exceed ₹50 lakh. Additional, such order shouldn’t be based mostly on search/surveys or info obtained underneath double taxation avoidance settlement.
The scheme will allow specified taxpayer to file an utility electronically for dispute decision to the DRC (Dispute Decision Committee) designated for the area of Principal Chief Commissioner of Earnings-tax (Pr. CCIT) having jurisdiction over the taxpayer. To this finish, DRCs have been constituted in all 18 jurisdictional Pr. CCIT areas throughout the nation.
In line with e-DRS, a DRC might make modification to the variations within the specified order and determine to grant discount/waiver of penalty and prosecution. The Committee is remitted to go its order inside six months from the tip of month wherein utility for dispute decision is admitted by it.
The appliance for e-DRS is to be filed in Kind No. 34BC on the e-filing portal of the Earnings Tax Division, inside one month from the date of receipt of specified order. In circumstances the place enchantment has already been filed and is pending earlier than the Commissioner of Earnings-tax (Appeals), the applying for e-DRS, is to be filed on or earlier than September 30. In circumstances, the place the required order has been handed on or earlier than August 31, 2024, and the time for submitting enchantment in opposition to such order earlier than CIT (Appeals) has not lapsed, the applying for dispute decision may be filed on or earlier than September 30.
#Dept #rolls #edispute #decision #scheme