CBDT rolls out E Dispute Resolution Scheme 2022 Income Tax New Form 34BC I In Income Tax
E Dispute Resolution Scheme 2022 Income Tax New Form 34BC I In Income Tax
CBDT rolls out Dispute Resolution Scheme (e-DRS), 2022 https://www.taxheal.com/cbdt-rolls-ou...
In pursuance of section 245MA in the Income-tax Act, 1961 (hereinafter referred to as “the Act”), the Central Board of Direct Taxes (CBDT) had notified the e-Dispute Resolution Scheme, 2022 (e-DRS) with the aim to reduce litigation and provide relief to eligible taxpayers. Section 245MA of the Act also provides for the constitution of Dispute Resolution Committees (DRC).
As per e-DRS, a taxpayer can opt for e-Dispute Resolution against the ‘specified order’ as defined in clause (b) of the Explanation to section 245MA of the Act, which includes an order in which the aggregate sum of variations proposed or made does not exceed Rs.10 lakh and returned income for the relevant assessment year does not exceed Rs. 50 lakh. Further, such order should not be based on search/surveys or information received under an agreement referred to under section 90 or 90A of the Act.
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