FM Nirmala Sitharaman announced a new scheme, “Vivad se Vishwas” (no dispute but trust) to resolve 4.83 lakh direct tax disputes pending in various tribunals. The scheme offers waivers off penalty and interest if the disputed amount is paid before March 31, 2020. The scheme aims to benefit those whose tax demands are locked in dispute in multiple forums. CBDT has already started building a database for the said announcement.
Vivad se Vishwas’ scheme offers to reduce tax litigations
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