https://www.taxtmi.com/news?id=15791 A new Dispute Resolution Scheme allows taxpayers to settle pending appeals by paying disputed tax and interest to the date of assessment, with penalty waivers or capped reduced penalties for specified cases; excludes certain categories including those facing specified criminal charges. A one time settlement for retrospective amendment cases permits payment of tax arrears with interest and penalty waived if all pending proceedings are withdrawn. Penalty reform grades misconduct with calibrated penalty rates and provides remission where tax is paid and appeals are not filed; the rule for quantifying disallowance attributable to exempt income will be rationalized. en-us Mon, 29 Feb 2016 13:31:10 +0530 Mon, 29 Feb 2016 13:31:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15791 A new Dispute Resolution Scheme allows taxpayers to settle pending appeals by paying disputed tax and interest to the date of assessment, with penalty waivers or capped reduced penalties for specified cases; excludes certain categories including those facing specified criminal charges. A one time settlement for retrospective amendment cases permits payment of tax arrears with interest and penalty waived if all pending proceedings are withdrawn. Penalty reform grades misconduct with calibrated penalty rates and provides remission where tax is paid and appeals are not filed; the rule for quantifying disallowance attributable to exempt income will be rationalized. News - Mon, 29 Feb 2016 13:31:10 +0530 https://www.taxtmi.com/news?id=15791