On Aug. 30, IND Tax rolled out e-dispute resolution scheme, 2022.
IND Tax rolled out e-Dispute Resolution Scheme (e-DRS), 2022, to reduce litigation, and provide relief to eligible taxpayers under section 245MA of Income-tax act 1961.
Overview of e-DRS
Taxpayers can file electronic application for dispute resolution if case meets specific conditions, such as aggregate sum of variations in order does not exceed INR 10 lakh.
The returned income for the relevant assessment year does not exceed INR 50 lakh; order is not based on search/surveys or information from international agreements.
Dispute resolution committees (DRCs) can modify the variations proposed in the specified order and may reduce or waive penalties and prosecution as per regulation.
DRC must resolve disputes within six months from the application's admission date.
Effectiveness
Files application electronically using form 34BC via e-filing portal within 1 month of specified order receipt or by Sep. 30, 2024, for orders issued on or before Aug. 31.
