The Centre s ambitious tax dispute resolution scheme Vivad Se Vishwas has settled almost a quarter of the over 5.10 lakh tax disputes, with about Rs 97,000 crore worth disputed tax being resolved so far under it. As many as 1,25,144 cases have so far opted for the Vivad se Vishwas (VsV) Scheme, which is 24.5 per cent of the 5,10,491 cases that were pending at different legal fora, according to sources in the Department of Revenue (DoR). The response to VsV Scheme has been very encouraging and so far involves the tax dispute settlement amount to the tune of more than Rs 97,000 crore, sources added.
About a quarter of direct tax litigations getting resolved via Vivad Se Vishwas
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Last Updated: Feb 06, 2021, 04:14 PM IST
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As many as 1,25,144 cases have so far opted for the Vivad se Vishwas (VsV) Scheme, which is 24.5 per cent of the 5,10,491 cases that were pending at different legal fora, according to sources in the Department of Revenue (DoR).
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The taxpayer is granted Immunity from levy of interest, penalty and institution of any proceeding for prosecution for any offence under the Income-tax Act in respect of matters covered in the declaration.
The Centre s ambitious tax dispute resolution scheme Vivad Se Vishwas has settled almost a quarter of the over 5.10 lakh tax disputes, with about Rs 97,000 crore worth disputed tax being resolved so far under it.