Government may introduce one-time amnesty scheme to resolve old income tax cases, says report

The government is looking to resolve old income tax cases worth Rs 8 lakh crore through one-time amnesty, reported Hindustan Times.

The proposed plan will help reduce the volume of tax litigations significantly and also help taxpayers spend their time and effort on more productive matters, the report said citing people familiar with the matter.

Further, the report added, the move will also make India a more business-friendly nation.

The contours of the scheme could not be ascertained by Hindustan Times, but it is likely to be a one-time amnesty window of three-four months, the report said.

The development comes after the government task force was asked to draft the Direct Tax Code, which aims is to reduce the number of tax cases in the country.