Qbiz: telcos to decide on dues; new demat accounts at 10-yr high
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2. GOVT MULLS MEDIATION TO SOLVE I-T ISSUES WITH COS The government may adopt a mediation mechanism that will help companies determine their future tax liabilities and even settle disputes,
said a person familiar with the development. The concept, which is widely prevalent overseas, is being discussed amid preparations for the 1 February budget, the person said. Mediation will
allow taxpayers to get a fix on how much they need to pay and avoid disputes. “This will bring down litigation substantially,” the person said. The mediation process involves examining tax
legislation and all relevant facts in detail. Neutral mediators, chosen from a panel, will negotiate and arrive at a settlement. The decision is binding on both sides. The government could
also look at expanding the Dispute Resolution Panel mechanism, which handles transfer pricing disputes, as an alternative, the person said. (Source: _The Economic Times_)