Budget 2016: FM Arun Jaitley announces tax dispute resolution scheme

NEW DELHI: To address the problem of more than thee lakh tax cases pending worth Rs 5,05,000 crore under the first appellate authority, the finance minister announced a new dispute resolution scheme.

He said that such pending cases can be settled by paying 25 per cent of the disputed amount to the assessing officer's authority.

This scheme will not be applicable for certain persons, companies otherwise barred from availing themselves of other tax amnesty schemes.

This scheme is applicable for both direct and indirect taxes.