Vishwas Scheme: The government’s direct tax dispute redressal scheme on Saturday has announced the extension of the deadline to pay the dispute under trust. The government has extended this deadline by two months to 30 June 2021. The government has taken this decision in view of the challenges faced by taxpayers due to the Kovid-19 epidemic. Taxpayers are once again relieved by this decision of the government.
Govt grants respite to taxpayers in difficult COVID times. Extends certain timelines.— Income Tax India (@IncomeTaxIndia) April 24, 2021
Time barring dates extended to 30th June, 2021 for certain cases.
Dt for payment under #VivadSeVishwas Act,2020 without additional amount also extended to 30th June, 2021.
Press release issued pic.twitter.com/mNf2EQxEQz
The government has also extended the date of notice by the tax authorities until June 30 for resuming assessment in cases where income has not been assessed.
Govt extends certain timelines to 30.06.2021 where time limit was earlier extended to 30.04.2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020— Ministry of Finance (@FinMinIndia) April 24, 2021
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News about Vishwas Scheme
The Central Board of Direct Taxes (CBDT) issued a statement saying, “It has been decided that the time for payment of dues under the Trust Act 2020 from the direct tax dispute will be extended till June 30, 2021.”
Explain that the deadline for filing the declaration under this scheme has expired on 31 March. Dispute under trust scheme facilitates settlement of cases like disputed tax, disputed penalty, disputed interest rate.
The trust law came into force on March 17, 2020, from a direct tax dispute. Its objective is to provide an alternative to the taxpayers concerned for the disposal of pending cases in various courts.