In February 2021 the Finance Minister of India announced the setting up of a Dispute Resolution Comm...........

Current (GK) (CGL) Social Issues

In February 2021, the Finance Minister of India announced the setting up of a Dispute

Resolution Committee (DRC) for taxpayers with taxable income up to ______ and disputed income up to ______ .

This questions was previously asked in

SSC CGL 11th April 2022 Shift-2

Rs5 lakh, Rs1 lakh

Rs50 lakh, Rs10 lakh

Rs20 lakh, Rs5 lakh

Rs10 lakh, Rs2 lakh

- In February 2021, the Finance Minister of India announced the establishment of a Dispute Resolution Committee (DRC).

- The aim was to provide quick and efficient resolution mechanisms for taxpayers.

- The DRC is designed for taxpayers with taxable income and disputed income within specified limits.

Option 1: Rs 5 lakh taxable income, Rs 1 lakh disputed income

- Very low limits, unlikely to be feasible for effective dispute resolution.

Option 2: Rs 50 lakh taxable income, Rs 10 lakh disputed income

- More reasonable limits, ideal for targeting a wide range of taxpayers.

- Correct Answer and aligns with the government's announcement.

Option 3: Rs 20 lakh taxable income, Rs 5 lakh disputed income

- Moderate limits, but still not broad enough to cover many taxpayers.

Option 4: Rs 10 lakh taxable income, Rs 2 lakh disputed income

- Also on the lower end, might not effectively serve the intended purpose.

Based on the information provided, Option 2 is the correct one.

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