Indian Income Tax Department raises minimum thresholds for tax appeals, aiming to reduce litigation.
The Indian Income Tax Department has raised the minimum thresholds for filing tax appeals: Rs 60 lakh for the Income Tax Appellate Tribunal (ITAT), Rs 2 crore for high courts, and Rs 5 crore for the Supreme Court. This change, announced by Finance Minister Nirmala Sitharaman, aims to reduce unnecessary litigation and streamline tax disputes. Pending appeals below these new thresholds must be withdrawn, promoting quicker resolutions in tax matters.
September 18, 2024
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