Budget to nudge I-T regime closer to DTC
The finance minister also has to make dispute resolution mechanisms more effective. Experts said some of the existing provisions such as the Mutual Agreement Procedure, under which tax authorities from different countries come together to agree for an understanding to avoid double taxation of companies present in all the countries, have not yet been effective due to the alleged unwillingness of India to make compromises.
“We are trying to see what would be the best in terms of transparency, facilitation in terms of returns so that some of the issues that are bothering the industry will be covered,” Shome had said last week.
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