- Moneycontrol
Budget 2023: This tax move could help fill government's fiscal gap
The government can bring anot her tax amnesty proposal on the lines of Vivad se Vishwas scheme in Budget 2023 to help reduce litigation burden and aid revenue collection in the next fiscal. Taxpayers who are embroiled in litigations and appeals could be asked to pay the disputed amount along with 10-20% penalty to settle the cases, reports said.It may propose amnesty with a penalty of 10 percent on the disputed tax amount if the matter is pending with the Commissioner of Income-Tax (Appeals).For matters pending before Income Tax Appellate Tribunal (ITAT), an amnesty with a penalty of 20 percent on the disputed tax amount is being considered, the sources said.