Economy

Govt garners ₹9,538 cr from direct tax dispute resolution scheme so far

PTI New Delhi | Updated on September 20, 2020 Published on September 20, 2020

MoS Finance Anurag Thakur at Parliament House during the opening day of its Monsoon Session, in New Delhi, on Monday   -  PTI

As many as 35,074 declarations have been filed under the Direct Tax Vivad Se Vishwas scheme till September 8, 2020.

The government has collected ₹9,538 crore revenue from the Direct Tax Vivad Se Vishwas scheme, Parliament was informed on Sunday.

Minister of State for Finance Anurag Singh Thakur said as many as 35,074 declarations have been filed under the Direct Tax Vivad Se Vishwas scheme till September 8, 2020.

“The revenue generated till date through the (Direct Tax Vivad Se Vishwas) Act is ₹9,538 crore. This figure does not include the payments made by the taxpayers who are yet to file their declarations under the scheme,” Thakur said in a written reply in the Rajya Sabha.

Finance Minister Nirmala Sitharaman had proposed the direct tax dispute resolution scheme, which provides an opportunity to taxpayers to pay outstanding taxes and get a waiver of interest and penalty, in her Union Budget speech on February 1.

In March, Parliament passed the Direct Tax Vivad Se Vishwas Act. The dispute resolution scheme is valid till December 31, 2020.

Under the scheme, taxpayers willing to settle disputes shall be allowed a complete waiver of interest and penalty if they pay the entire amount of tax in dispute by December 31, 2020.

As many as 4.83 lakh direct tax cases involving ₹9.32 lakh crore in disputed taxes are locked in various appellate forums. The amount is equivalent to 82 per cent of the government’s direct tax revenue in FY2018-19.

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Published on September 20, 2020
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