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The e-Dispute Resolution Scheme (e-DRS) has been announced by the Income Tax Department

Published on September 02, 2024
Current Context: The Income Tax Department has recently launched the e-Dispute Resolution Scheme (e-DRS) to help taxpayers resolve disputes electronically.
The e-Dispute Resolution Scheme (e-DRS) has been announced by the Income Tax Department
  • Here are some key points about the scheme:
    • Objective: The e-DRS aims to reduce litigation and provide relief to eligible taxpayers by allowing them to resolve disputes electronically through Dispute Resolution Committees (DRCs) established under section 245MA of the Income-tax Act, 1961.
    • Eligibility: Taxpayers whose returned income for the relevant assessment year does not exceed ₹50 lakh and where the aggregate amount of variations proposed or made does not exceed ₹10 lakh can apply.
    • Application Process: Applications must be filed electronically in Form No. 34BC on the Income Tax Department’s e-filing portal within one month from the date of receipt of the specified order.
    • DRC’s Role: The DRC can make modifications to the variations in the specified order and decide on the reduction or waiver of penalties and prosecution.
    • Timeline: The DRC is mandated to pass its order within six months from the end of the month in which the application for dispute resolution is admitted.
    • This initiative is expected to streamline the dispute resolution process and make it more efficient for taxpayers.

Question:

1 What is the maximum returned income limit for a taxpayer to be eligible to apply under the e-Dispute Resolution Scheme (e-DRS)?

  • A) 10 lakh
  • B) 25 lakh
  • C) 50 lakh
  • D) 1 crore
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