Vivad Se Vishwas

The scheme provides for settlement of disputed tax, disputed interests, disputed penalty or disputed fees.

The entities who opt for the scheme have to pay a requisite tax following which all litigation against them are closed by the tax department and penal proceedings dropped.

The government has also extended the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas by a month till January 31, 2021.

"A faceless tax system will give the taxpayer confidence on fairness and fearlessness," PM Narendra Modi said in a video address after rolling out the ''Transparent Taxation - Honoring the Honest'' platform.

Prime Minister Narendra Modi's government is pushing to shore up revenue as the country's once-booming economy grows at roughly 11-year lows.

The Income Tax Department said appeals and writs filed on or before January 31 this year will be allowed to be taken up under the scheme.

Finance Minister Nirmala Sitharaman is scheduled to move the Direct Tax Vivad Se Vishwas Bill, 2020 in Lok Sabha on Monday.

Giving the rationale behind the scheme, Ms Sitharaman said it will reduce the litigation expenditure for the government and at the same may help in generating some revenue. Opposing the introduction of the bill, Congress leader Adhir Ranjan Chowdhury said the bill's name is drafted in Hindi and the government is trying to impose one specific lan...

The scheme provides for settlement of disputed tax, disputed interests, disputed penalty or disputed fees.

The entities who opt for the scheme have to pay a requisite tax following which all litigation against them are closed by the tax department and penal proceedings dropped.

The government has also extended the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas by a month till January 31, 2021.

"A faceless tax system will give the taxpayer confidence on fairness and fearlessness," PM Narendra Modi said in a video address after rolling out the ''Transparent Taxation - Honoring the Honest'' platform.

Prime Minister Narendra Modi's government is pushing to shore up revenue as the country's once-booming economy grows at roughly 11-year lows.

The Income Tax Department said appeals and writs filed on or before January 31 this year will be allowed to be taken up under the scheme.

Finance Minister Nirmala Sitharaman is scheduled to move the Direct Tax Vivad Se Vishwas Bill, 2020 in Lok Sabha on Monday.

Giving the rationale behind the scheme, Ms Sitharaman said it will reduce the litigation expenditure for the government and at the same may help in generating some revenue. Opposing the introduction of the bill, Congress leader Adhir Ranjan Chowdhury said the bill's name is drafted in Hindi and the government is trying to impose one specific lan...