Centre Extends Deadline Under Direct Tax Dispute Resolution Scheme

Government has continued borderline of tax acquittal beneath Vivad Se Vishwas scheme

The government on Sunday continued the borderline of acquittal of assets tax after any added bulk beneath its "Vivad Se Vishwas" arrangement till September 30, 2021, befitting in apperception the difficulties actuality faced by taxpayers in accepting and bushing anatomy 3 which is appropriate by the declarant to pay the tax amount.

The aftermost date of acquittal of the assets tax bulk after any added bulk was August 31, 2021.

However the aftermost date for acquittal of assets tax bulk forth with added bulk has not been changed, and it continues to be October 31, 2021, as was originally notified beneath the tax altercation resolution scheme.

"Vivad Se Vishwas" is a absolute tax altercation resolution scheme, which had been appear by the Finance Ministry in the Union Budget of 2020. It was notified on March 17, 2020, to achieve absolute tax disputes bound up in assorted appellate forums. 

The arrangement provides for adjustment of acknowledged tax, acknowledged interests, acknowledged amends or acknowledged fees.

"Considering the difficulties actuality faced in arising and alteration anatomy cardinal 3, which is a prerequisite for authoritative acquittal by the declarant beneath Vivad se Vishwas Act, it has been absitively to extend the aftermost date of acquittal of the bulk (without any added amount) to September 30, 2021. Necessary notification to this aftereffect shall be issued shortly," a account issued by the Ministry of Finance said.

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