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Home » IANS » Payment date for ‘Vivad se Vishwas’ scheme extended

Payment date for ‘Vivad se Vishwas’ scheme extended

By IANS
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New Delhi, Oct 27 (IANS) In order to provide further relief to the taxpayers desirous of settling disputes under Vivad se Vishwas Scheme, the government on Tuesday further extended the date for making payment without additional amount from December 31, 2020 to March 31, 2021.

Also, the last date for making declaration under the Scheme has been notified as December 31.

As per the notification, the declaration under the Vivad se Vishwas Scheme shall be required to be furnished by December 31, however, the payment without additional amount in respect of said declaration can now be made up to March 31, 2021.

Meanwhile, Finance Secretary Ajay Bhushan Pandey on Tuesday reviewed the progress made so far by the Income Tax Department on Vivad se Vishwas Scheme in a high-level meeting, through video conferencing, along with CBDT Chairman and Board members with all Principal Chief Commissioners of Income Tax across the country to expedite the Scheme which, he said, is highly beneficial to the taxpayers.

“We need to advance the Vivad se Vishwas Scheme with greater persuasion and perseverance and must reach out to the taxpayers to facilitate all necessary handholding,” he said.

In the meeting, suggestions and comments of the Field Officers were also discussed regarding the action plan for successful implementation of the scheme in a time-bound manner.

The meeting also decided to adopt a proactive approach for implementation of the scheme by approaching taxpayers directly, guiding and facilitating them in filing of declarations and removing any difficulties or problems faced by them in availing the scheme.

It was further decided to have periodic review of the progress of the scheme every fortnight.

The Direct Tax Vivad se Vishwas Act, 2020 was enacted on March 17, 2020 with the objective to reduce pending income tax litigation, generate timely revenue for the government and to benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process.

In order to provide more time to taxpayers to settle disputes, earlier the date for filing declaration and making payment without additional amount under Vivad se Vishwas was extended from March 31, 2020 to June 30, 2020. Later again, this date was extended further to December 31, 2020.

Therefore, both the declaration and the payment without additional amount were earlier required to be made by December 31.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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