Vivad se Vishwas: Opt for the scheme till December 31st

? File the declaration before the deadline and avoid last minute rush

New Delhi, Dec 17 (FN Bureau) Income Tax Department, Goa has held an online seminar on Vivad se Vishwas Scheme today with Goa Chamber of Commerce & Industry, Chartered Accountants, Tax Professionals and other stakeholders attending. Principal Commissioner of Income Tax Panaji Ms. Amrapalli Das addressed the participants and highlighted the benefits of the scheme. She has requested the participants to impress upon the taxpayers who will be immensely benefited by opting for the scheme. Ms. Amrapalli Das has also advised the taxpayers to file the declaration before 31st December, 2020 so as to avoid last minute rush. Further, she has also said that the last date for filing declaration is 31.12.2020. However, taxpayers will be getting sufficient time to pay the disputed tax even at a later date. A detailed web-presentation has been made for further clarification about the scheme.

Vivad se Vishwas Scheme is a well thought scheme brought out by the Government of India to put an end to pending direct tax disputes. The benefit under the Scheme is available for all the taxpayers who are in appeal at different levels of appeal matrix. The taxpayer can simply pay the disputed tax and can save the interest levied and leviable, further, any penalties levied and leviable. It is also available for the taxpayers in whose case the Department is in appeal against the revenue adverse orders. However, in such a case the taxpayers will be asked to pay half of the disputed tax or penalty. To get the maximum benefits the taxpayers have to pay the disputed tax on or before 31.03.2021. The scheme caters to all the taxpayers having income tax disputes in India including the non-resident assessees.

The Income Department is attending all the VsVS related matters with utmost priority and it is requested that the taxpayers of Goa to come forward and avail the scheme so as to avoid any further impacts on the pending contested matters. Sri Basavaraj Hiremath, Joint Commissioner of Income Tax has also addressed the gathering and requested the cooperation from all the stakeholders so as to avail the benefits of the scheme. Sri Nagabhushana Deputy Commissioner of Income Tax moderated the webinar and Sri. Mukul Dua Income Tax Officer has made the presentation of the Scheme. Sri. Rajesh Vanjare and Sri Sundar Income Tax officers were also present on the occasion.