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What Are the Practical Steps and Benefits of Using the Dispute Resolution Committee for Resolving Tax Disputes?

Resolving tax disputes can be a long, costly, and complex process, often requiring taxpayers to go through extensive legal proceedings. However, the Dispute Resolution Committee (DRC) offers an alternative route for taxpayers to resolve their disputes with the Income

What Features Are Included in the New Scheme of Dispute Resolution Committee Under Section 245MA?

The Dispute Resolution Committee (DRC), as introduced under Section 245MA of the Income Tax Act, 1961, brings a significant shift in the way tax disputes are resolved in India. Designed to offer a faster, more efficient, and transparent alternative

Modifications to the Dispute Resolution Process Under Section 245MA(4): What You Need to Know

The Dispute Resolution Committee (DRC) under Section 245MA of the Income Tax Act, 1961 provides taxpayers with a mechanism to resolve tax disputes efficiently. However, the Central Government has been granted the power to modify or exempt certain provisions

What is the Purpose of Constituting One or More Dispute Resolution Committees Under Section 245MA(1)?

The Indian tax system aims to provide an effective, transparent, and fair dispute resolution process for taxpayers. To address this need, Section 245MA(1) of the Income Tax Act, 1961, empowers the Central Government to constitute one or more Dispute