Last year Finance Minister Nirmala Sitharaman launched “Vivad se Vishwas” scheme to settle the pending disputes relating to the direct taxes has been a success story. According to the reports over 96,000 cases have opted to settle their disputed tax costing about Rs. 83000 crore. Seeing the response the scheme got the govt has decided to extended the dates by Jan 31, 2021. Under the scheme the party opts to pay the due taxes and the cases are withdrawn from the forums and interest, penalty & prosecution too.
Over 1 lakh crore of disputed taxes to be settled under “Vivad se Vishwas”
