The government has extended the deadline for two months from the trust to June 30 to pay the tax dispute resolution plan under the dispute. It was first extended from March 31st to April 30th. Under the scheme now, people who have announced until April 30, will be able to pay until June 30 with no penalty. According to official statistics, the government has received 1,33,837 applications under the scheme, including 1,48,690 disputes. The total disputed amount was Rs 1,00,437 crore. The government has raised Rs 54,005 crore against this controversial tax.
The government gives taxpayers respite during tough COVID times. Extends some timetable.
Time-out dates have been extended to June 30, 2021 for some cases.
Dt to pay under #Vivadsevishwas The 2020 Act has been extended to June 30, 2021, without any additional costs.
Issued press release pic.twitter.com/mNf2EQxEQz– Income Tax India (n Income Tax India) April 24, 2021
The ‘Confidence in Dispute’ scheme facilitates the dispute of disputed tax, disputed fines and disputed interest rates. According to Finance Minister Nirmala Sitharaman, till January 31, 2020, more than 5.10 lakh cases are pending at Rs 19.5 lakh crore.
Controlling for a fiduciary plan provides the option to settle a disputed tax, disputed interest, disputed penalty or dispute fee in the event of an assessment. Under this, pending cases can be settled by paying 100 percent of the disputed tax and 25 percent of the disputed penalty, or interest or fees. The trust law came into force on March 17, 2020, out of a direct tax dispute. The purpose is to provide taxpayers with an alternative approach to the disposal of pending cases in various courts.
