31-10-2020 | 16:40 PM
Vivad se Vishwas Scheme
The Union Government has recently extended the deadline for making payment under the Vivad se Vishwas scheme till March 31, 2021.
Key Points
·The Vivad se Vishwas scheme was introduced by the Union Finance Minister Nirmala Sitharaman in the Union Budget 2020-21. The scheme has been aimed to settle down the pending direct tax cases.
·The scheme covers the disputes pending at the level of Income Tax Appellate Tribunal, High Court, IT commissioner, Supreme Court and international arbitration.
·The Scheme also withdraws the penalty and interest of the taxpayers who paid their pending taxes by March 31, 2020.
