Daksha Baxi, Executive Director, Khaitan & Co. and Ritu Shaktawat, Principal Associate, Khaitan & Co:

Daksha Baxi: "The FM's announcement that the Tax Simplification Committee's recommendations are being accepted is a very big positive in the Government's commitment to simplifying taxation administration'.

Ritu Shaktawat: "The overall measures to reduce tax litigation such as mandatory stay upon payment of 15% of disputed tax during pendency of first level appeals, position on retrospective laws related proceedings, time limit for disposal of appeals relating to levy of interest and penalty, etc. will go a long way in restoring the faith of taxpayers in the tax administration.
One area which has led to huge litigation on the domestic taxation front has been the disallowance of expenditure incurred on earning exempt income. The Government's move to provide clearer rules for computing this disallowance will greatly reduce litigation on this front'.

Photograph, courtesy: Sudarsan Pattnaik/Twitter