Task Force Recommendations for Income tax Act, Budget 2020
- Press Release|
- < 1 minute
- By Taxmann
- |
- Last Updated on 28 October, 2020
Latest from Taxmann
Rahul Singh, Assistant Manager Taxmann.com
In order to curb litigations, one of the suggestions of the task force was to introduce the concept of mediation under the Income Tax Act. This is a new and unique concept which, if introduced, will help in solving the undue income tax litigations. Through mediation, a taxpayer will be able to opt for negotiated settlement before the income tax officers after receiving the draft assessment order. This negotiation will be assisted by mediators. Recommended changes by Task Force Team on Income Tax Act are some of the mention recommendations are: 1. No More Divided distributed Tax2. Tax Immunity Scheme3. Reduced Tax Rates for All Tax Payers4. Reduced Tax Rates for taxpayers Read Complete Story on : Expect Alignment Of Income Tax Act With Task Force Recommendations
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Comments are closed.