e-DRS Scheme
On 30th August, 2024, the Central Board of Direct Taxes (CBDT) notified e-Dispute Resolution Scheme (e-DRS). The scheme was notified in pursuance of section 245MA in the Income Tax Act, 1961.
Aim
- The e-DRS scheme is designed to minimize litigation and offer a streamlined, electronic platform for resolving disputes between taxpayers and the Income Tax Department.
What are the Salient Features of e-DRS?
Eligibility Conditions
- Aggregate Sum of Variations: The sum of variations proposed or made should not exceed Rs. 10 lakh.
- Returned Income: The returned income for the relevant assessment year should not exceed Rs. 50 lakh.
Dispute ....
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