New Delhi: The Federation of Indian Chambers of Commerce and Industry (FICCI) wants the Income Tax (IT) department to pay taxpayers more interest on their money during disputes. They noticed that the IT department often creates too many legal cases but only wins some of them. In fact, the department wins just 7% of the cases in tribunals, 9% in High Courts, and 15% in the Supreme Court.
At a meeting about a new Income Tax law, FICCI suggested that instead of the current low interest rates, the IT department should pay 20% to 24% interest on money that taxpayers have to deposit while waiting for a decision on their cases. This change could prevent the department from starting too many legal cases.
Some lawmakers, including BJP’s Bhartruhari Mahtab, mentioned that assessing officers might need more accountability if they handle a lot of cases. The committee, led by BJP member Baijayant Panda, also talked about the IT department’s ability to look at digital information from taxpayers. This raised concerns about privacy and data safety since the IT department can access a person’s laptop or phone.
BJP MP Nishikant Dubey defended the department’s actions, saying they simply need these powers to do their job, even if it raises fears about privacy.
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