The Income-tax Department has stated that under the Vivad Se Vishwas Scheme, 45,855 declarations have been filed in Form-1 upto 17th November,2020. Disputes amounting to about Rs. 1,31,929 crore have been settled & total amount of about Rs. 72,480 crore has been paid by taxpayers & CPSUs under the Scheme till date.
The last date for filing declarations is 31st December 2020 while the last date for making payment without interest is 31st March 2021.
Under #VivadSeVishwas Scheme, 45,855 declarations have been filed in Form-1 upto 17th November,2020. Disputes amounting to about Rs. 1,31,929 crore have been settled & total amount of about Rs. 72,480 crore has been paid by taxpayers & CPSUs under the Scheme till date.
Avail Now! pic.twitter.com/EU6aRn6bl6— Income Tax India (@IncomeTaxIndia) November 20, 2020
Why such V-se-V was never thought of before NaMo ?
Out of the disputed income settled and tax paid under VsVS so far, how much is the income settled and tax paid by Central PSUs
The other side of the scheme is very Dark. While assessees have been filing declarations, paying taxes but the ITD is taking too longer time in issuance of Form 3 and Form 5 under the scheme. There must be some timeline defined for the ITD to issue Form 3 and 5.