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Vivad Se Viswas Bill
March 18 , 2020
1634 days
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- Parliament passed the Direct Tax Vivad Se Viswas Bill, 2020.
- The bill aims to reduce the number of litigations that are associated with direct tax payments.
- The Direct Tax Vivad Se Viswas concept was introduced by the Finance Minister Nirmala Sitaraman during the Union Budget 2020-21.
- The bill says that if the tax payment is made after March 31, 2020, the tax payer has to pay 110% of the disputed tax.
- And if the tax is paid before the date, the tax payer has to pay full amount of the disputed tax and there will be no penalty applied.
- English version of the bill is “No Dispute, But Only Trust”.
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