Taxpayers to get Relief
Govt Extends Vivad se Vishwas Scheme Payment Date for Taxpayers
Under this extension, the taxpayers can furnish their declaration under the scheme, by 31 December and Pay without any additional amount, upto Last Date 31 March 2021.
According to the Finance Secretary, this scheme would offer "an instant disposal of the dispute with no further cost of litigation besides monetary benefits in the form of waiver of penalty, interest and prosecution."
Direct Tax Vivad se Vishwas Act, 2020 was enacted on 17th March, 2020 with the objective to reduce pending income tax litigation and a few others.
Under this extension, the taxpayers can furnish their declaration under the scheme, by 31 December and Pay without any additional amount, upto Last Date 31 March 2021.
According to the Finance Secretary, this scheme would offer "an instant disposal of the dispute with no further cost of litigation besides monetary benefits in the form of waiver of penalty, interest and prosecution."
Direct Tax Vivad se Vishwas Act, 2020 was enacted on 17th March, 2020 with the objective to reduce pending income tax litigation and a few others.
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