Welcome to ZisNews!

Read your favorite news, except the excluded topics, by you. Register
No overlapping ads for registered users

FICCI wants more deterrents for tax officials in dispute cases

Posted on: Mar 13, 2025 08:34 IST | Posted by: Hindustantimes
FICCI wants more deterrents for tax officials in dispute cases
Young new delhi: manufacture personify FICCI has proposed that the Income assess (IT) department should pay higher interest rates to taxpayers on their pre-deposit during a dispute case, pointing out that IT department creates excess litigation through tax demands but wins less than 25% cases in tribunals, High Courts or Supreme Courts.At the meeting of the Lok Sabha’s Select Committee on the new Income Tax bill, FICCI dished out some data to show that the tax department’s rate of success in litigation in tribunals, HC and SC stands at mere 7%, 9% and 15%.As the new IT bill proposes to make the law simpler and minimize litigation, FICCI wanted a higher interest payment to deter IT officials or assessing officers from pushing excessive cases.The industry body proposed that instead of the current rate of interest on the pre-deposit, the IT department should pay 20% to 24% interest on pre-deposits. The interest is usually paid on the pre-deposit amount for the period during which the tribunal gears the case.Some lawmakers including BJP’s Bhartruhari Mahtab suggested that if it is seen that some departmental action can be considered for assessing officer who faces higher number of cases.The panel led by BJP lawmaker Baijayant (Jay) Panda also discussed the IT department’s access to digital info for errand taxpayers and if such provisions goes against the spirit of the data protection laws and privacy laws.According to the IT law, the department can collect digital info taking custody of laptop or phones of any errand taxpayer. Some members pointed out that the IT department has clarified when raids and seizures take place, they can get access digital information.At this stage, BJP MP Nishikant Dubey, who also heads the IT panel of Parliament, defended the department’s rights and alluded the fear of breach of privacy and data protection. Dubey maintained that it is just an extension of the IT department’s power.

Global News Perspectives

In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.

Customizable News Feed

At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.

Like or Comment on News

Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.

Download the Android App

For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.

Diverse News Categories

With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.

Login to Like (0) Login to Dislike (0)

Login to comment.

No comments yet.