The tax department will soon come out with a set of frequently asked questions (FAQs) with regard to the Dispute Resolution Scheme as it seeks to settle over 2.59 lakh appeals pending with Income Tax Commissioners.
Besides, the Central Board of Direct Taxes (CBDT) will also launch a massive publicity drive to make the scheme a success.
CBDT will soon come out with a set of 30 FAQs based on the queries it has received from various stakeholders, including chartered accountants and industry chambers.
“The department has compiled the FAQs which has been sent to the Finance Minister for his approval. The FAQs would be put up on the CBDT website this week or by next week,” a senior official said.
The Direct Tax Dispute Resolution Scheme, introduced from June 1, seeks to address the issue of pending litigation before Commissioner of I-T (Appeal). The scheme is open till December 31.
As per I-T department data, there were 73,402 appeals with tax effect above `10 lakh and 1,85,858 appeals with tax effect below `10 lakh are pending before CIT (Appeal) as on February 29. Thus, 2,59,260 appellants are eligible for the benefit of this scheme.