Direct Tax Code may help bring change in mindset of taxpayers, authorities

The Direct Tax Code may help initiate the much-needed change in the mindset of taxpayers and authorities, say experts

The report by the panel on the Direct Tax Code, currently under the consideration of the government, is believed to have suggested several measures to reduce tax litigation. The recommendations by the panel are yet to be made public. However, the efficacy of three likely measures in this regard is being hotly discussed in the tax fraternity. These are:  Simplifying statutory tax provisions; the presence of an alternative mechanism for mediation and negotiated settlement of tax disputes; and setting up of a litigation management unit in the tax department.

Almost all experts tend to agree that measures to curb tax