Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: VAT RATES :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS
 
 
« General »
 Why consumers should welcome GST
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert

Settle small tax disputes, raise threshold for appeals to avoid court hassles: Experts to FM
June, 16th 2014

Finance minister Arun Jaitley would do well to settle larger chunks of relatively smaller tax disputes within the revenue department instead of letting them reach tribunals and courts, leading to an accumulation of tax disputes.

Another way, experts said, to reduce time-consuming litigation that impacts businesses is to make the department appeal against judicial orders much more infrequently than now.

Appeal
The present thresholds of disputed tax amount, above which assessment officers concerned can appeal against the decisions taken by the Commissioner (Appeals), are Rs three lakh without interest and penalty in the case of direct taxes and Rs five lakh with or without interest and penalty in the case of indirect taxes.
Appeal

Raising these thresholds two or three-fold would prevent a large number of disputes from reaching tribunals and from there courts, experts said, adding that there could also be similar increases in the monetary limits set for the department to challenge the orders of tribunals at courts.

The current monetary limits (for appeals) were decided in 2011, when the government revised the limits set in 2008 for direct taxes and in 2010 for indirect taxes. For both direct and indirect taxes, the current monetary limits for filing appeals at High Courts and Supreme Courts are Rs 10 lakh and Rs 25 lakh, respectively. When constitutional question is there, no monetary threshold is applicable.

“If the current monetary limits are raised by two to three times, it would give relief to small tax payers and help in substantially reducing litigation,” said SP Singh, senior director, Deloitte, Haskins & Sells.

As per official estimates released last June, tax disputes of more than Rs 4.82 lakh crore of direct taxes and over Rs one lakh crore of indirect taxes were at various stages. Direct tax disputes cover transfer pricing too, on which India has the largest number of disputes by volume.

Another way to cut down avoidable dispute is to effectively use the feedback from High Courts. “If on one issue, there are multiple decisions by the tribunal favouring the taxpayer and High Courts refuse to admit an appeal, then it would be prudent to issue an internal circular to direct officers not to make (income) additions on the same issue in the case of other tax payers,” said SP Singh.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions