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Needed, clarity on equalisation levy and cryptocurrencies
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moneycontrol.comThe public had expected a number of benefits from the government, following the unprecedented and huge amount of COVID-induced hardships. The government has come up with various mechanisms like asset monetisation, divestment, privatisation, etc. However, from a purely direct tax perspective, there were not many significant proposals even though care was taken to not upset taxpayers with additional burdens.
Hits And Misses Of 2021
The government has successfully utilised lockdowns to make the entire assessment and first appellate procedure virtual, even though the tax-paying community was largely sceptical about it.
Recently, the Bombay High Court (HC) warned the tax department that they may have to bear costs, if cases are disposed of without
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