New Delhi, July 12: Following a hike in threshold limit for filing appeals in tribunals, Union Finance Minister Piyush Goyal on Thursday said the central government hopes to cut 41 per cent of tax cases.
Addressing media on measures taken for reducing tax litigation, the minister stated, the government hopes to cut 41 percent of tax cases after raising the threshold limit for filing appeals in tribunals and courts.”
He further said that the income-tax refunds worth around Rs 70,000 crore has been issued to the taxpayers.
“Income-tax refunds worth over Rs 70,000 crore have been issued to the taxpayers. Tax cases worth Rs 5 lakh crore stuck in litigation; new thresholds will lead to a reduction of 18 percent in tax cases,” Goyal asserted.