Govt tax reforms aim to reduce litigation at source, seeks practical industry Inputs: FM Sitharaman

on Wednesday asked tax professionals and industry bodies to move beyond demands for lower tax rates and exemptions and instead identify tax provisions that should be removed, including those that benefit their own sectors.Speaking at the International Tax Research and Analysis Foundation’s (ITRAF) 8th International Tax Conference in Bengaluru, Sitharaman said stakeholders should submit evidence-based and quantified proposals, setting out the number of taxpayers affected, compliance costs, revenue implications and possible unintended consequences of proposed tax changes.