Income Tax "Vivad Se Vishwas" scheme introduced in Budget-20

Last updated: 10 February 2020

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This document outlines the Direct Tax Vivad Se Vishwas Bill, 2020, introduced in Lok Sabha. The scheme allows taxpayers to settle disputed taxes by paying only the principal amount, with waivers on interest and penalties if paid by the deadline. It details the amounts payable and the process for availing the scheme, making it a valuable resource for taxpayers looking to resolve tax disputes.

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In her budget speech, Finance Minister propose to bring a scheme reducing litigations in the direct taxes called â€˜Vivad Se Vishwasâ€™ scheme wherein a taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by 31st March, 2020. Those who avail this scheme after 31st March, 2020 will have to pay some additional amount. The scheme will remain open till 30th June, 2020. Taxpayers in whose cases appeals are pending at any level can benefit from this scheme. Today on 05.02.2020, FM introduced this bill in Lok Sabha, below is presentation on the same for understanding. #pdf

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Submitted by pradeep goyal · Posted 10 February 2020 · Other files by pradeep goyal · Report

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