CBDT Hikes Thresholds for Filing Income Tax Appeals

The Central Board of Direct Taxes (CBDT) has increased the minimum monetary thresholds for filing income tax appeals in legal courts and tribunals. The new limits are Rs 60 lakh for ITAT, Rs 2 crore for high courts, and Rs 5 crore for the Supreme Court. This measure aims to reduce unnecessary litigation and expedite tax dispute resolutions.

The Central Board of Direct Taxes (CBDT) has announced an increase in the minimum monetary thresholds for filing income tax appeals before tribunals, high courts, and the Supreme Court.

According to the CBDT's new circular, the threshold for appeals now stands at Rs 60 lakh for the Income Tax Appellate Tribunal (ITAT), Rs 2 crore for high courts, and Rs 5 crore for the Supreme Court.

The government had previously set the thresholds in 2019 at Rs 50 lakh, Rs 1 crore, and Rs 2 crore, respectively. The move aims to reduce undue litigation and ensure faster resolution of tax disputes.

(With inputs from agencies.)