Daily Current Affairs on Finance Ministry extends deadline for making payments under Vivad se Vishwas scheme till September 30 for General Knowledge ( All Exams) Preparation

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Finance Ministry extends deadline for making payments under Vivad se Vishwas scheme till September 30

Current GK ( Master) Giovernment Schemes
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Finance Ministry extends deadline for making payments under Vivad se Vishwas scheme till September 30
  • 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".
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