Big relief to taxpayers in tax disputes, government increased deadline of scheme

Big relief to taxpayers in tax disputes, government increased deadline of scheme

Keeping in mind the crisis arising from the coronaviruses, the government has made a big announcement for those trapped in controversial tax cases. It has increased the payment deadline from April 30 to June 30, 2021 under the trust scheme from the dispute made for direct tax. A statement has been issued by the Central Board of Direct Taxes (CBDT) to increase the payment deadline under the Vishwas Scheme. Accordingly, the deadline for payment under the Direct Tax Disputes Trust Act, 2020 has been increased keeping in mind the corona.

The last date for grant of declaration was set as March 31, 2021 under the dispute-led trust scheme. Pending cases under this scheme can be settled by paying 25% of the disputed tax and penalty or interest or fees on it. The Direct Tax Disputes to Belief Act 2020 was enacted on March 17, 2020 last year.

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