97,000 crore to settle disputed tax cases under dispute-belief scheme. Sources said that 24.5 percent of the total number of cases pending has been disposed of. According to Revenue Department sources, so far 1,25,144 cases have been disputed under the trust scheme. This is 24.5 percent of the total 5,10,491 disputed cases. These cases are pending in various courts and forums.
The reasons for reopening the tax cases will be informed first
“People’s feedback on this project is very exciting,” he said. To date, more than Rs 97,000 crore worth of disputed cases have been brought for disposal. The dispute received 15 times more response to the trust scheme than the Direct Tax Dispute Resolution Scheme, 2016 (DTDRS). On the other hand, the rate of disposal cases is 153 times higher than DTDRS.
Disputed Tax Payment Date March 31
The deadline for announcing the dispute under the trust scheme has been extended to February 28. The date of the disputed tax payment is March 31st. The direct tax dispute was passed on March 17, 2020, the Trust Law, 2020. It aims to resolve pending direct tax disputes in various appellate forums. Under this, the matter can be settled by paying 100 percent of the disputed tax and 25 percent of the disputed penalty, or interest or fees.
.
