Centre planning mechanism to solve tax issues in real time: FM Sitharaman

The concept, if it becomes effective, will allow taxpayers an opportunity to settle issues by paying the tax due instead of going in for litigation.

The government is thinking of creating a mechanism to prevent tax issues from ballooning into disputes and settle disagreements on a “real-time basis”.

“There should be a simultaneous tracking of disputes and if possible prevent tax matters from becoming disputes or if there are indeed disputes then settle them through a real-time kind mechanism,” Finance Minister Nirmala Sitharaman said while replying to a question on tax matters.

She was addressing National MNC’s Conference 2020, organised by the Confederation of Indian Industry (CII).

Citing the two schemes on resolving tax disputes launched by the government, the finance minister said: “We have made our intent