Settlement of Cases under Direct Tax Vivad Se Vishwas Act, 2020

The government, while presenting the Budget of 2020 announced a dispute resolution scheme “Vivad se Vishwas” which offers complete waiver of interest and penalty if the taxpayer makes a declaration and discharges the disputed tax liability within the prescribed time limits. The Union Government, to fulfill its promise of reducing litigation under Direct tax laws, has introduced a new scheme by introducing The Direct Tax Vivad Se Vishwas Act, 2020. The Scheme covers taxpayers where appeals are pending as on 31st January, 2020 before various income tax authorities. The scheme provides to put an end to the appeals pending under the Income-tax Act, 1961, at various appellate forums by making payment of the tax amount without the interest and penalty, if the same is paid upto 31.12.2020. This Book “ Vivad se Vishwas Scheme, 2020” is a ready referencer and a practical guide for understanding and learning all the aspects of Vivad se Vishwas Scheme, 2020. This Book decodes in detail the carefully and deeply knitted and worded Vivad se Vishwas Scheme, 2020, in an easy to understand, comprehensible and simple manner with practical illustrations. All relevant rules, forms, notifications issued under the Vivad se Vishwas Scheme, 2020 are made a part of the book to make it an all encompassing reference material.