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, …
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 …
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 …
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