90% of pending income tax cases will be settled under ‘Vivaad Se Vishwas’, says Minister
4 years, 10 months ago

90% of pending income tax cases will be settled under ‘Vivaad Se Vishwas’, says Minister

The Hindu  

The government expects to resolve 90% of the income tax disputes through ‘Vivaad se Vishwas’ scheme announced in the Budget for 2020-21, Union Minister Anurag Singh Thakur said on Tuesday. “We hope more than 90% pending income tax cases will be settled under ‘Vivaad Se Vishwas’,” Mr. Thakur said, while speaking at an employment fair organised by a local non-profit, Sarthak. He said more than 95% cases involving disputes related to payment of indirect taxes through ‘Sabka Vishwas Yojana’ have been settled in the last two months, adding about ₹40,000 crore to the government kitty. He said over 41,000 cases related to income tax disputes in Madhya Pradesh and Chhattisgarh are pending in various tribunals in which the government has to realise a huge amount.

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History of this topic

Income Tax extends Vivad Se Vishwas deadline to January 31. Key penalty details
1 week, 3 days ago

Income Tax extends Vivad Se Vishwas deadline to January 31. Key penalty details

India Today  

The Income Tax Department has extended the deadline for the Vivad Se Vishwas Scheme 2024, giving taxpayers a fresh opportunity to settle disputes at lower tax rates. KEY BENEFITS OF THE EXTENDED DEADLINE The Vivad Se Vishwas Scheme, announced in Budget 2024, allows taxpayers to settle pending disputes by paying a lower amount of disputed tax along with specified percentages. …

Vivad Se Vishwas Scheme 2024: I-T dept extends deadline to avail interest, penalty waiver till January 31
1 week, 3 days ago

Vivad Se Vishwas Scheme 2024: I-T dept extends deadline to avail interest, penalty waiver till January 31

Live Mint  

Vivad Se Vishwas Scheme 2024: The income tax department on Monday, December 30, extended the due date for determining the tax dues and filing declaration under the Vivad Se Vishwas scheme for waiver of interest and penalty, by a month, till January 31, 2025. According to the original rules of the Direct Tax Vivad Se Vishwas scheme, taxpayers filing declaration …

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties
2 weeks, 2 days ago

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties

Live Mint  

Vivad se Vishwas Scheme 2024: Taxpayers facing income tax disputes can choose to settle their tax disputes under the Vivad se Vishwas Scheme 2024. Any application made on or after 1st January 2025 will not be eligible for a lower tax amount under the Vivad Se Vishwas Scheme If taxpayers file a declaration before December 31, 2024, they must pay …

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties
2 weeks, 2 days ago

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties

Live Mint  

Vivad se Vishwas Scheme 2024: Taxpayers facing income tax disputes can choose to settle their tax disputes under the Vivad se Vishwas Scheme 2024. Any application made on or after 1st January 2025 will not be eligible for a lower tax amount under the Vivad Se Vishwas Scheme If taxpayers file a declaration before December 31, 2024, they must pay …

Vivad Se Vishwas Scheme 2024: What is it and how to avail it?
Trending News
2 weeks, 3 days ago

Vivad Se Vishwas Scheme 2024: What is it and how to avail it?

India Today  

The Vivad Se Vishwas Scheme 2024, introduced in Budget 2024, provides taxpayers with an opportunity to settle pending disputes with the Income Tax Department. By paying the disputed tax amount along with a specified percentage, taxpayers can resolve disputes and avoid penalties and interest. ELIGIBILITY FOR THE SCHEME Taxpayers eligible for this scheme include: Those with pending appeals, writ petitions, …

Vivad Se Vishwas Scheme: FAQs for settling tax disputes easily
2 weeks, 6 days ago

Vivad Se Vishwas Scheme: FAQs for settling tax disputes easily

India Today  

In a bid to bring relief to taxpayers, the Direct Tax Vivad Se Vishwas Scheme 2024, introduced in Budget 2024, offers a simplified route to resolve income tax disputes. Is an appeal filed against intimation under section 143 of the Act and pending as of July 22, 2024, eligible for the DTVSV Scheme 2024? Can the DTVSV Scheme 2024 be …

Vivad Se Vishwas Scheme 2024: Income tax department releases FAQs to address queries of taxpayers
3 weeks, 2 days ago

Vivad Se Vishwas Scheme 2024: Income tax department releases FAQs to address queries of taxpayers

Live Mint  

In order to bring early resolution of the disputes pending between taxpayers and the income tax department, the Ministry of Finance rolled out Vivad Se Vishwas Scheme 2024 in October this year. Here, we have reproduced some of the common doubts which the taxpayers have in relation to the dispute resolution scheme aka Direct Tax Vivad Se Vishwas Scheme 2024. …

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC
Trending News
3 weeks, 6 days ago

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Live Law  

The Delhi High Court has held that under the Direct Tax Vivad Se Vishwas Act, 2020, an Assessee is entitled to confine the settlement of disputes which were subject matter of its appeal, and exclude the disputes which were subject matter of the Revenue's appeal for the same assessment year. It thus allowed a real estate company's plea against the …

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court
1 month, 2 weeks ago

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

Live Law  

The Delhi High Court has held that a review petition, against the orders passed in SLP by the Supreme Court, is “Disputed Tax” under Section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 and the review petitioner would be eligible to take benefit of “Vivad Se Vishwas Scheme”. Section 2 defines disputed tax in relation to Appeal, Writ …

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court
1 month, 2 weeks ago

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

Live Law  

The Delhi High Court has held that a review petition, against the orders passed in SLP by the Supreme Court, is “Disputed Tax” under Section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 and the review petitioner would be eligible to take benefit of “Vivad Se Vishwas Scheme”. Section 2 defines disputed tax in relation to Appeal, Writ …

Direct Tax Vivad Se Vishwas scheme, 2024 to come to force from 1 October
3 months, 2 weeks ago

Direct Tax Vivad Se Vishwas scheme, 2024 to come to force from 1 October

Live Mint  

New Delhi: The Union government on Friday said the second edition of the Direct Tax Vivad Se Vishwas Scheme 2024, which will help reduce litigation and bring certainty for taxpayers, will become operational from 1 October. {{^adFree}} {{/adFree}} "In exercise of the powers conferred by sub-section of section 88 of the Finance Act, 2024, the Central Government hereby appoints the …

Direct Tax Vivaad Se Vishwas Act | Out-Of-Court Settlement Not Litigant's Fundamental Right, Can Be Availed Only As Per Law: Allahabad HC
1 year, 1 month ago

Direct Tax Vivaad Se Vishwas Act | Out-Of-Court Settlement Not Litigant's Fundamental Right, Can Be Availed Only As Per Law: Allahabad HC

Live Law  

While dealing with a rejection order under the Direct Tax Vivaad Se Vishwas Act, 2020, the Allahabad High Court has held that a litigant does not have a fundamental or inherent right to claim settlement of dispute outside court. The bench comprising of Justice Saumitra Dayal Singh and Justice Shiv Shanker Prasad opined, “In the first place, settlement of disputes …

Direct Tax Vivad Se Vishwas Act| Delay Can Be Condoned In Unforeseen Circumstances: Allahabad High Court
1 year, 4 months ago

Direct Tax Vivad Se Vishwas Act| Delay Can Be Condoned In Unforeseen Circumstances: Allahabad High Court

Live Law  

The Allahabad High Court, on Friday, allowed petitioner to avail benefits under Direct Tax Vivad Se Vishwas Act, 2020 despite a delay of 3 days in filing application under the Act. The Parliament enacted the Direct Tax Vivad Se Vishwas Act, 2020 for the resolution of disputed tax to relieve the taxpayers from paying interest and penalty on the escaped …

Govt Launches Vivad se Vishwas II Scheme To Resolve Pending Contractual Disputes
1 year, 5 months ago

Govt Launches Vivad se Vishwas II Scheme To Resolve Pending Contractual Disputes

News 18  

In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – ’ scheme, according to an official statement released on Wednesday. To be eligible for settlement under the scheme, the ministry has laid out two conditions — a) arbitral award passed on or before January 31, 2023, …

Weekly Round Up Of Tax Cases : 1 May To 7 May, 2022
2 years, 8 months ago

Weekly Round Up Of Tax Cases : 1 May To 7 May, 2022

Live Law  

Supreme Court Supreme Court Saves Over 90,000 Income Tax Reassessment NoticesIssued After 2021 Amendment By Deeming Them As Notices Under Section 148A Case Title: Union of India v. Ashish Agarwal Citation : 2022 LiveLaw 444 The Supreme Court, on Wednesday, directed that reassessment notices under Section 148 of the unamended Income Tax Act which were issued beyond 01.04.2021 to be …

Payment deadline under tax dispute scheme extended
3 years, 4 months ago

Payment deadline under tax dispute scheme extended

Hindustan Times  

The government has extended the last date for payment of amount under the direct tax amnesty scheme ‘Vivad se Vishwas’ without any additional charge by one month to September 30, 2021 due to technical reasons, the Central Board of Direct Taxes said in a statement on Saturday. The Vivad se Vishwas scheme provides for settlement of disputed tax, disputed interest, …

Vivad Se Vishwas Scheme Garners Rs 72,480 Crore Tax to Govt So Far
4 years, 1 month ago

Vivad Se Vishwas Scheme Garners Rs 72,480 Crore Tax to Govt So Far

News 18  

The government has garnered Rs 72,480 crore so far through the direct tax dispute resolution scheme Vivad Se Vishwas, sources said. The government had last month extended for the third time the deadline for making payment under the Vivad Se Vishwas scheme by three months to March 31, 2021 in view of the ongoing pandemic. The Direct Tax Vivad se …

Declarants Under Vivad Se Vishwas Scheme Have Time Till March 31 to Make Payment
4 years, 2 months ago

Declarants Under Vivad Se Vishwas Scheme Have Time Till March 31 to Make Payment

News 18  

The Income Tax Department on Wednesday said taxpayers making declarations under direct tax dispute resolution scheme 'Vivad Se Vishwas' will have time till March 31 to make payment. "It is hereby clarified that where a declarant files a declaration under Vivad se Vishwas on or before 31st December, 2020, the designated authority, while issuing the certificate under sub-section of section …

Govt Garners Rs 9,538 Crore from Direct Tax Dispute Resolution Scheme So Far
4 years, 3 months ago

Govt Garners Rs 9,538 Crore from Direct Tax Dispute Resolution Scheme So Far

News 18  

The government has collected Rs 9,538 crore revenue from the Direct Tax Vivad Se Vishwas scheme, Parliament was informed on Sunday. Minister of State for Finance Anurag Singh Thakur said as many as 35,074 declarations have been filed under the Direct Tax Vivad Se Vishwas scheme till September 8, 2020. Finance Minister Nirmala Sitharaman had proposed the direct tax dispute …

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen
4 years, 5 months ago

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen

The Hindu  

With tepid collections proving to be a challenge in meeting tax revenue goals, CBDT Chairman P.C. In a letter to Principal Chief Commissioners of Income Tax, Mr. Mody said that many taxpayers are waiting to file applications under ‘Vivad Se Vishwas’ scheme, but they are also waiting for correct demand to be intimated to them. of cleaning up of the …

Vivad Se Vishwas Scheme Not Applicable Where Prosecution Has Started, Clarifies CBDT [Read Circular]
4 years, 8 months ago

Vivad Se Vishwas Scheme Not Applicable Where Prosecution Has Started, Clarifies CBDT [Read Circular]

Live Law  

The Central Board Direct Tax on Wednesday clarified that taxpayers will not be able to avail benefits under the Vivad se Vishwas scheme in cases where prosecution has been instituted.The CBDT, through a FAQ has, has clarified that, "where only notice for initiation of prosecution has been issued without prosecution being instituted, the assessee is eligible to file declaration. The …

Vivad se Vishwas scheme: Assessee eligible to file declarations despite issuance of notice to initiate prosecution
4 years, 8 months ago

Vivad se Vishwas scheme: Assessee eligible to file declarations despite issuance of notice to initiate prosecution

Firstpost  

In the FAQ issued on 4 March, the CBDT said that where notice for initiation of prosecution has been issued with reference to tax arrears, taxpayer has a choice to compound the offence and opt for Vivad se Vishwas. New Delhi: Entities against whom prosecution has not been instituted even though a notice has been issued can avail the direct …

What is Direct Tax Vivad se Vishwas Bill, 2020?
4 years, 9 months ago

What is Direct Tax Vivad se Vishwas Bill, 2020?

India Today  

The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in Lok Sabha by the Minister of Finance, Ms. Nirmala Sitharaman, on February 5, 2020. Appellant: The Bill defines an appellant as the income tax authority, or the person, or both, whose appeal is pending before any appellate forum as on January 31, 2020. Resolution mechanism: The Bill proposes a …

‘Vivad Se Vishwas’ Direct Tax Scheme: Will Taxpayers Grab It?
4 years, 9 months ago

‘Vivad Se Vishwas’ Direct Tax Scheme: Will Taxpayers Grab It?

The Quint  

The Scheme will certainly have takers even though the time for the paperwork involved and payment of disputed tax is very limited. The Budget has stipulated that the Income Tax Appellate Tribunal – the second- tier appellate body – can stay the recovery of tax demand for the first 180 days, only if the taxpayer pays 20 percent of the …

Centre Notifies Direct Tax Vivad se Vishwas Act To Reduce Direct Tax Litigation [Read Act]
4 years, 9 months ago

Centre Notifies Direct Tax Vivad se Vishwas Act To Reduce Direct Tax Litigation [Read Act]

Live Law  

The Central government on Tuesday notified the Direct Tax Vivad se Vishwas Act, 2020, to reduce direct tax litigation. The Act, aimed to reduce tax litigation, was moved by Finance Minister Nirmala Sitharaman, to set up a mechanism for resolution of disputes related to income tax and corporation tax, pending before any appellate forum as on January 31, 2020. With …

Parliament passes Direct Tax Vivad Se Vishwas Bill
4 years, 9 months ago

Parliament passes Direct Tax Vivad Se Vishwas Bill

India TV News  

The parliament on Friday passed Direct Tax Vivad Se Vishwas Bill, 2020 with an aim to settle pending direct tax disputes in the country. The Bill, which will provide taxpayers a lucrative opportunity to settle direct tax disputes within the current financial year by waiving interest and penalty on their pending taxes, was passed by voice vote and returned by …

Wealth tax, STT, CTT disputes not covered under Vivad se Vishwas scheme
4 years, 10 months ago

Wealth tax, STT, CTT disputes not covered under Vivad se Vishwas scheme

Live Mint  

The Central Board of Direct Taxes on Thursday clarified that disputes relating to wealth tax, securities transaction tax, commodity transaction tax and the tax on online CBDT also said in a list of clarifications issued on the scheme that picking and choosing issues for settlement of an appeal is not allowed. “With respect to one order, the appellant must chose …

‘Vivad se Vishwas’ scheme: Cases in arbitration abroad eligible, says I-T dept
4 years, 10 months ago

‘Vivad se Vishwas’ scheme: Cases in arbitration abroad eligible, says I-T dept

The Hindu  

Income tax cases being arbitrated abroad will be eligible to be taken up under the proposed ‘Vivad se Vishwas’ scheme to settle disputes between the taxman and the taxpayer, the department said on Saturday. Other eligibilities are: Orders for which time for filing appeal has not expired on January 31; cases pending before dispute resolution panel or where the DRP …

Finance Minister introduces Direct Tax Vivad Se Vishwas Bill in Lok Sabha
4 years, 11 months ago

Finance Minister introduces Direct Tax Vivad Se Vishwas Bill in Lok Sabha

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday introduced a bill in the Lok Sabha to provide for a mechanism to settle disputed tax cases to the tune of ₹9.32 lakh crore. However, Congress leader in the Lok Sabha Adhir Ranjan Chowdhury objected to the Direct Tax Vivad Se Vishwas Bill, 2020, saying it violates parliamentary tradition by using Hindi and English …

Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise
5 years ago

Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise

Firstpost  

New Delhi: The Finance Ministry on Tuesday extended the ‘Sabka Vishwas Scheme’, a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and central excise, by 15 days till 15 January. Finance Minister Nirmala Sitharaman had unveiled the Sabka Vishwas Scheme, 2019, in the budget for 2019-20 with the objective of settling pending disputes of Service Tax and Central …

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