CBDT appoints 15 commissioners to five DRPs
PrintListen to this Article
On the heels of ushering in new dispute resolution mechanism, the CBDT has appointed 15 commissioners as members of the newly set up five dispute resolution panels (DRPs).
These 15 commissioners will staff the five DRPs set up in Delhi (two panels), Mumbai (two panels) and Bengaluru (one DRP), official sources said.
Most of the appointees were hitherto holding the posts of Commissioner of Income Tax (appeals) in the income tax department on a full time basis.
The Central Board of Direct Taxes (CBDT) has specified that those appointed as DRP members will now hold additional charge of CIT (Appeals).
The five DRPs have been put in place early this month to provide comfort to foreign investors that dispute resolution would be available in India on a "neutral" and objective manner.
Commenting on CBDT move, S.P.Singh, Senior Director-transfer pricing, Deloitte in India said this showed that the government was serious about making DRP effective and efficient.
However, a lot needs to be done. First, the members of DRPs should be fulltime with no additional jurisdictions.
"If there is shortage of Commissioners of Income Tax, then government should urgently go for promotions". Second, frivolous additions should be controlled so that only important issues go to DRP and further appeals. Third, members should be encouraged to be judicious; and finally, appeals against orders of DRPs should not be filed in a casual manner, Singh told Business Line.
Category : Income Tax | Comments : 0 | Hits : 450
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
As many as 5,44,205 appeals were pending resolution with the Income Tax (IT) Department at commissioner (appeals) level as of January 31 this year, and 63,246 at various Income Tax Appellate Tribunals (ITATs), High Courts, and the Supreme Court, FE has learnt. To be precise, the cases pending in ITATs were 20,266 High Courts, 37,436; and Supreme Court 5,544. The large pendency is even as the Central Board of Direct Taxes (CBDT) has laid emphasis on disposing of income tax appeals in its 10...
The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards. The ITR functionalities i.e. ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, 2024 onwards for taxpayers to file their Returns. Companies will also be able to file their ITRs through ITR-6 from April 1 onwards. As ...
It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that the new regime under section 115BAC(1A) was introduced in the Finance Act 2023 which was as under as compared to the existing old regime (without exemptions): New Regime 115BAC (1A) introduced for FY 2023-24 Existing old Regime 0-3 lacs 0% 0-2.5 lacs 0% ...
Comments