The Central Board of Direct Taxes (CBDT) has further extended the last date for filing declaration under the 'Vivad Se Vishwas' (VSV) scheme till 31 March 2021.
What is Vivad Se Vishwas Scheme is a direct tax scheme announced in Budget 2020, for settling tax disputes between individuals and the income tax department. ... An individual opting for settlement after March 31, 2020, was required to pay an additional 10 percent penalty on the disputed tax amount.
As per a CBDT's notification, the date for payment of tax without additional interest under VSV remains unchanged at 30 April 2021.
the Income Tax department said in a tweet late Friday: "CBDT further extends the date for filing of declarations under the #VivadSeVishwas Act, 2020 to 31st March 2021. Notification no. 09/2021 in S.O. 964(E) dated 26/02/2021 issued. Date for payment without additional amount under VSV extended to 30th April, 2021,"
On March 17, 2020, the Direct Tax 'Vivad-se-Vishwas' Act, 2020 was enacted with the intention of reducing pending income tax litigation, generating timely revenue for the government and benefiting taxpayers.
Income tax department gets undisclosed income of 450 crores from Congress MLA’s firm
Taxpayer’s registration to suspend for anomalies in GST sales return?
