Quick Summary
Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime Vivad Se Vishwas scheme proposed to reduce litigations in direct taxes; scheme to remain open till 30th June, 2020 Faceless appeals proposed to eliminate human interface for imparting greater transparency in dispute settlement CBDT to adopt a taxpayers charter; details to be notified soon Pan to be allotted online on the basis of Aadhaar without any requirement of detailed application The Union Budget has pro
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FAQ :
The 'Vivad Se Vishwas' scheme is a proposal introduced in the Union Budget to reduce litigation in direct tax payments. It allows taxpayers with pending appeals to settle their disputes.
Taxpayers in whose cases appeals are pending at any level, including Commissioner (Appeals), ITATs, High Courts, and the Supreme Court, can benefit from this scheme.
Under the scheme, taxpayers are required to pay only the amount of the disputed taxes and will receive a complete waiver of interest and penalty if they pay by March 31st, 2020.
The scheme will remain open until June 30th, 2020. However, to get a complete waiver of interest and penalty, payments must be made by March 31st, 2020.
There are 4,83,000 direct tax cases pending in various appellate forums.
The Union Budget also proposes faceless appeals to eliminate human interface and a system for instant PAN allotment online based on Aadhaar.
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