Explanation:

• The scheme “THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020”, was announced by the finance minister on 1st February, 2020 in the Budget for the financial year 2020-21. “THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020” was introduced along with a circular issued by Central Board of Direct Taxes (CBDT) chairman - Jagannath Bidyadhar Mohapatra
• The ministry had in June, extended the deadline for making payments under the scheme till  August 31.
• The government on Sunday extended by a month the deadline for making payments under the direct tax dispute resolution scheme Vivad Se Vishwas till September 30.
• The scheme provides for settlement of disputed tax, interest, penalty or fees in relation to an assessment or reassessment order on payment of 100% of the disputed tax and 25% of the disputed penalty or interest or fee. The taxpayer is granted immunity from levy of interest, penalty and institution of any proceeding for prosecution for any offence under the Income Tax Act in respect of matters covered in the declaration.
• In a statement, the finance ministry said, "Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to September 30, 2021".
• The scheme “THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020”, was announced by the finance minister on 1st February, 2020 in the Budget for the financial year 2020-21. “THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020” was introduced along with a circular issued by Central Board of Direct Taxes (CBDT)