Quick Summary
File the declaration before the deadline and avoid last minute rush Income Tax Department, Goa has held an online seminar on Vivad se Vishwas Scheme today with Goa Chamber of Commerce Industry ,Chartered Accountants, Tax Professionals and other stakeholders attending. Principal Commissioner of Income Tax Panaji Ms. Amrapalli Das addressed the participants and highlighted the benefits of the scheme. She has requested the participants to impress upon the taxpayers who will be immensely bene
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FAQ :
The deadline for filing a declaration under the Vivad se Vishwas Scheme is December 31st, 2020.
The scheme allows taxpayers to end pending direct tax disputes by paying the disputed tax amount, thereby saving on interest and penalties that may be levied.
All taxpayers who have pending direct tax disputes, including those in appeal at different levels and non-resident assessees, can benefit from the scheme.
In such cases, taxpayers will be asked to pay half of the disputed tax or penalty to avail the scheme's benefits.
While the declaration must be filed by December 31st, 2020, taxpayers will have sufficient time to pay the disputed tax, with the aim to pay by March 31st, 2021, to get maximum benefits.
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