30.08.2021: The Central Board of Direct Taxes extends the date under section 3 of the Vivad se Vishwas Act.
As per the latest notification dated 25th June 2021, the last date of payment of the amount (without any additional amount) has been notified as 31st August 2021. Similarly, the last date for payment of the amount (with additional amount) under Vivad se Vishwas Act has been notified as 31st October 2021.
However, 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 30th September 2021. Necessary notification to this effect shall be issued shortly.
It is, however, clarified that there is no proposal to change the last date for payment of the amount (with additional amount) under Vivad se Vishwas Act, which remains as 31st October, 2021.
GST Amnesty Scheme 2020 Extension & Payment Due Date
31.10.2020: In order to provide further relief to taxpayers seeking to settle disputes under the Vivad Se Vishwas scheme, the government has extended the payment date from 31 December 2020 to 31 March 2021 without an additional amount.
Meanwhile, Finance Secretary Drs. Ajay Bhushan Pandey today reviewed the progress made by the Income Tax Department on the trust scheme from Vivad, in a high-level meeting with CBDT chairman and board members along with all the chief CEOs of the Income Tax Department. The country accelerated the plan, which, he said, is highly beneficial for taxpayers, adding that “we need to push the trust plan with more vigor and perseverance and facilitate all necessary handholding” Must reach taxpayers to make. “
Meanwhile, Finance Secretary Dr. Ajay Bhushan Pandey today reviewed the progress made so far by the Income Tax Department on Vivad se Vishwas Scheme in a high-level meeting through video conferencing along with CBDT Chairman and Board members with all Principal Chief Commissioners of Income Tax across the country to expedite the Scheme which, he said, is highly beneficial to the taxpayers, adding further that “We need to advance the Vivad se Vishwas Scheme with greater persuasion and perseverance and must reach out to the taxpayers to facilitate all necessary handholding.”
The meeting also considered the suggestions and comments of the field officials about the action plan for successful implementation of the plan.
Finance Secretary Dr. Pandey stated, “This is a scheme for the benefit and convenience of the taxpayers as they will get a quick settlement of the litigation in addition to monetary benefits in the form of no further cost of litigation, interest, and exemption of prosecution. With this scheme, on one hand, a taxpayer will benefit with stress-free time, so that he can put his efforts to expand his meaningful daily life/routine or business activities, while the government will get its pending period. Huge cost savings on revenue and the resources that consume these disputes. “
In the meeting, CBDT Chairman Shri P.C. Mody mentioned the importance of cleaning up of demand for facilitating and persuading the taxpayers for filing declarations under the Scheme. He emphasized on Pr. Chief Commissioners of Income Tax to carry out all possible actions such as disposing pending rectifications, giving pending appeal effects, removing duplicate demands, etc.
CBDT Chairman Shri P.C. Modi mentioned the importance of cleaning up the demand to facilitate and persuade taxpayers to file declarations under the scheme. He emphasized PR. The Chief Commissioner of Income-tax to carry out all possible functions such as settling pending reforms, giving effect to pending appeals, removing duplicate demands, etc., so that every assessee reaches a final demand so that whenever the taxpayer enters Form 1 or 2 File under The World Trust Scheme, D.P. The Commissioner of Income Tax concerned is in a position to issue Form 3 immediately.
It was also decided in the meeting to approach the taxpayers directly by adopting a proactive approach to the implementation of the scheme, facilitating filing of declarations, and removing the difficulties or problems faced by them in availing the scheme. for. It was decided to periodically review the progress of the scheme every fortnight.
It is pertinent to mention here that the Direct Taxes Disputes Act, 2020 was created with the objective of reducing the pending income tax litigation on March 17, 2020, generating timely revenue for the government and providing taxpayers peace of mind. Went, certainly due to the time and resources involved and the savings that would be spent on the long-drawn and unstable litigation process.
To provide more time for the taxpayers to settle the disputes, the date of filling and payment of declaration without additional amount was increased from 31 March 2020 to 30 June 2020 under the trust from the earlier weed. Later again, this date was further extended to 31st. December 2020. Therefore, the payment was required to be made by December 31, 2020, without an additional amount under the first declaration and confidence from the dispute.
