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Govt extends tax compliance timelines in light of pandemic
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Vivad Se Vishwas to be extended till June 30, says CBDT
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Government extends deadline for making payment under Vivad Se Vishwas scheme till June 30
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Govt nets Rs 53,346 crore from Vivad Se Vishwas scheme till February 22
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Last Updated: Mar 08, 2021, 07:52 PM IST
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This include Rs 27,720 crore worth payments made by the central public sector undertakings (PSUs), Rs 1,023 crore by state PSUs, and Rs 24,603 crore by others.
The Direct Tax Vivad se Vishwas Act, 2020, was enacted on March 17, 2020 to settle direct tax disputes locked up in various appellate forum.
The government has realised Rs 53,346 crore through direct tax dispute resolution scheme Vivad Se Vishwas till February 22, Parliament was informed on Monday. To a query in the Lok Sabha on whether the government has been able to achieve the objective of settling income tax cases after launching the Vivad se Vishwas scheme, Minister of State for Finance Anurag Singh Thakur said, Yes .
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Govt Extends Deadline For Filing Declarations Under VsV Scheme Till Mar 31, Payment Till Apr 30
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.
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The Income Tax Department on Friday extended the deadline for filing declarations and making payment under direct tax dispute resolution scheme Vivad Se Vishwas (VsV) till March 31 and April 30. CBDT further extends the date for filing of declarations under the #VivadSeVishwas Act, 2020 to 31st March, 2021. Date for payment without additional amount under VsV extended to 30th April, 2021, the I-T department tweeted.