Taxation

Task force on direct tax code submits report to Sitharaman

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"The biggest thing one can expect that the settled positions which have come through courts are incorporated so that there are fewer litigations in the future," said Riaz Thingna, Director, Grant Thornton Advisory Pvt Ltd.

A tax advisor associated with one of the Big-4 consultancies, however, said that the new draft law would unlikely incorporate all the court orders.

"It will only include those where tax department has got favourable orders," he said.

This article appeared in Outlook India on 19th Aug, 2019.