Vivad se Viswas


Vivad se Viswas ie no dispute but Trust could be a game changer for the Govt since there are two aspects to it  .For Income Tax department the additional source of Revenue could be upto  9.5  lakh crore and the most important factor is that the Income Tax Employees who are bogged down under pressure could add more value to systems now since the number of cases are 4,30,000 now.

For Tax payers it’s a  long due relief ! Since most of the cases are very old and interest and penalties are more than the original due tax.

The government has clarified that the ‘No Dispute but Trust’ or ‘Vivad Se Vishwas’ Scheme covers only income tax and does not include disputes related to wealth tax, security transaction tax (STT), commodity transaction tax and equalisation levy.

Vivad se Viswas

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