Govt Extended Payment Date For Vivad Se Vishwas Scheme – Big Relief For Taxpayers

The government has extended the payment date for the Vivad se Vishwas Scheme in an attempt to give more comfort to taxpayers. In order to offer more respite to taxpayers wishing to resolve disputes under the Vivad se Vishwas Scheme, from 31 December 2020 to 31 March 2021, the Government has further extended the deadline for making payments without additional amounts. The last date for the declaration under the Scheme was also declared as 31 December 2020. As per the circular released today, the statement under the Vivad se Vishwas scheme is required to be provided by 31 December 2020 at the latest, but the payment without additional amounts can now be made by 31 March 2021 only with regard to certain declarations made by 31 December 2020. 

In a high-level meeting, Secretary of Finance Ajay Bhushan Pandey also inspected the improvement made so far by the Income Tax Department on the Vivad se Vishwas Scheme through video conference with CBDT Chairman and Board members with all Principal Chief Income Tax Commissioners across the country to accelerate the scheme, which, he stated, is greatly advantageous to taxpayers. The Vivad se Vishwas Scheme must be advanced with greater persuasion and perseverance and must reach out to taxpayers to enhance all required handling.” In the meeting, the Field Officers’ feedback and comments were also addressed in a time-bound way on the implementation strategy for the effective introduction of the Scheme.” 

CBDT Chairman PC Mody stated at the meeting the importance of cleaning up the demand to facilitate and persuade taxpayers to file declarations under the scheme. He is based on Pr. Chief Income Tax Commissioners shall carry out all practicable steps, such as the dismissal of pending adjustments, the provision of pending appeal effects, the removal of duplicate statements, etc., in order to meet a final request for each assessor so that if a taxpayer files Form 1 or 2 under the Vivad se Vishwas Scheme, the Pr. Commissioner of Income Tax in question is in a position to immediately issue Form 3. At the conference, it was also agreed to take a constructive approach to the execution of the scheme by directly addressing taxpayers, by leading and encouraging the filing of declarations, and by avoiding any obstacles or issues they may encounter in making use of the scheme.

It was therefore determined that every fortnight there would be a quarterly review of the performance of the Scheme. On 17 March 2020, the Direct Tax Vivad se Vishwas Act, 2020 was implemented with the intention of minimising pending income tax lawsuit, raising timely government revenue and benefiting taxpayers by facilitating them with peace of mind, stability and savings due to the time and resources that would otherwise be invested on the long-drawn and scurrilous lawsuits process. In order to allow taxpayers more time to resolve conflicts, the deadline for filing and rendering settlements without additional amounts under Vivad se Vishwas has been extended from 31 March 2020 to 30 June 2020. Later, this deadline was again extended to 31 December 2020. Consequently, both the declaration and the non-additional payment under the Vivad se Vishwas were previously expected to be made by 31 December 2020. 

 

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