Payment fate extended for Vivad se Vishwas Scheme
Oct 28, 2020
New Delhi [India], October 28 : The government on Tuesday extended the date for making payment without additional amount under 'Vivad se Vishwas' scheme to March 31, 2021, in order to provide relief to the taxpayers who are interested in settling disputes.
The earlier date for settling disputes, without additional amount, was December 31, 2020.
"The declaration under the Vivad se Vishwas Scheme shall be required to be furnished latest by December 31, 2020. However, only in respect of said declarations made by December 31, 2020 the payment without additional amount can now be made up to March 31, 2021," a Finance Ministry release said.
Finance Secretary Ajay Bhushan Pandey today also reviewed the progress made so far by the Income Tax Department on Vivad se Vishwas Scheme at a high-level meeting through video conferencing along with CBDT Chairman and Board members with all Principal Chief Commissioners of Income Tax across the country.
He said the scheme is highly beneficial to the taxpayers. "We need to advance Vivad se Vishwas Scheme with greater persuasion and perseverance and must reach out to the taxpayers to facilitate all necessary handholding," he said.
He also took suggestions and comments from the field officers regarding the scheme and for its successful implementation in a time-bound manner.
The Direct Tax 'Vivad se Vishwas' Act, 2020 was enacted on March 17, 2020, with the objective to reduce pending income tax litigation, generate timely revenue for the government and to benefit taxpayers.
