Tuesday, October 4, 2022

Government increases the deadline for payment under the ‘Dispute to Confidence’ scheme till June 30

The government has extended the deadline for payment of two months more till June 30 under its direct tax dispute redressal scheme ‘Dispute to Confidence’ due to the Covid-19 epidemic.

New Delhi The government has extended the deadline for payment of two months more till June 30 due to the Covid-19 epidemic under its Direct Tax Dispute Redressal Scheme ‘Dispute to Confidence’. The government has also extended the date of issue of notice by tax authorities till June 30 for resuming assessment in cases where income has not been assessed. The Central Board of Direct Taxes (CBDT) said in a statement, “It has also been decided that the time for payment of dues from the direct tax dispute under the Trust Act, 2020, without any additional amount, has been increased to 30 June 2021 Will be done till. ”

The ‘Dispute to Confidence’ scheme facilitated settlement of cases like disputed tax, disputed penalty, disputed interest rate. According to Finance Minister Nirmala Sitharaman, till January 31, 2020, more than 5.10 lakh cases worth Rs 19.5 lakh crore were pending. 

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Dispute to trust scheme provides an option for settlement of disputed tax, disputed interest, disputed penalty, or disputed fee in the context of assessment. Under this, pending cases can be settled by paying 100 percent of the disputed tax and 25 percent of the disputed penalty or interest or fee. 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.

Who can avail of this scheme

Under this, pending cases can be settled by paying 100 percent of the disputed tax and 25 percent of the disputed penalty or interest or fee. 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. The benefit of the trust scheme from the dispute can be taken with reference to the proceedings pending before the Income Tax Settlement Commission or the writ petition filed against the order of the ITSC.

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