Union Budget 2024: A commitment to tax certainty

The introduction of the tax dispute settlement scheme promises a transformative impact on India's tax landscape

Catapulted by a historic third mandate by the populace of India, the National Democratic Alliance (NDA) government looked ahead to a trifecta of growth, gumption, and glory. Even as the global order reels under the spectre of policy uncertainties and an uncertain political environment, India has steered its course as a champion for sectoral transformations and societal exceptionalism. 
 

Tax, as a much-vaunted euphemism for social superpowers,  acts as a conduit for both revenue and taxpayers of the world’s largest democracy. The marvellous post-Covid recovery and burgeoning tax collections, with a decadal high of 11.8 per cent tax-to-GDP,