Vivad Se Vishwas Scheme 2020 Application Form pdf Download | Bill Notification

Vivad Se Vishwas Scheme 2020 Application Form pdf Download | Bill Notification | vivad se vishwas scheme declaration form | vivad se vishwas scheme income tax | vivad se vishwas scheme faq | विवाद से विश्वास स्कीम क्या है?

The economy of a country depends upon the tax paid by the people of that country. The government has launched so many welfare schemes with the help of the tax given by people.The different medical facilities,education scholarships,Pension schemes,Home schemes and many of such few schemes has been implemented within help of Tax paid. Some of the people are faulty tax payers. They doesn’t deposit tax amount.

Some tax payers has lots of disputes and problems which they have to face during elections. To solve the problem the “Finance Minister Mrs Nirmala Sitaraman launches Direct Tax Disputes Confidence Bill, or “Vivad se Vishwas scheme”in the Lok Sabha and is expected to be passed soon.This scheme is launched to resolve the issue between taxpayers and the government. This scheme has been launched on 1st Feb 2020.It helps to resolve the tax cases and gets relief to the persons having tax problems anddisputes.

Vivad Se Vishwas Scheme 2020

  1. This scheme will provide relief and solve the issue of penalty of tax payers who pay their tax by 31st March.
  2. Approximate 4.83 lakhs people related to dispute of tax will get relief by this scheme and guided to pay the tax.
  3. If the tax has not been deposited on 31st,March the depositor will get extra time unto 30th June, but the payer has to submit 10% more tax and the amount deposited only on the disputed tax is 25% by 31st march and 30% after 31st march.

Kinds of Appeals under Vivad Se Vishwas

There are two kinds of appeal under this scheme

Amount fixed by tax papers:-In this scheme if the payment by the applicant has been done by March31st, then the applicant will have to pay full amount of disputed tax without any interest and penalty. If the dispute is related to penalty and fee then only 25% of it is to be paid. If the payment has been done later or after 31st march then the applicant has to pay 110 percent of the disputed tax and if the dispute is related to penalty and fee the 30% of it is to be paid.

Vivad Se Vishwas Scheme 2020

Amount fixed by I.T department: – In second category if the payment has been done by March 31st then applicant has to pay 50% of the disputed amount and if the issue is only related to penalty, interest and fee then the amount paid will be 12.5% of the amount. If in this category the payment is made after 31st March but by June 30th then applicant will pay 55% of disputed tax and if appeal is related to Penalty, interest or fee then the amount paid will be 15% of the amount.                   

vivad se vishwas bill 2020 Notification

This scheme will not provide any benefit to the following cases:

  1. The case where the disputed amount is more than Rs.5 crores will be exempted from this scheme.
  2. The cases related to prosecution.
  3. Case related to foreign income and assets where the information is received from other countries.
  4. Cases under Benami law,Narcotics deptt.,Ativitiesaginst law, Act related to Corruption,Smuggling Act,Special courts act,Prevention of Money-Laundering Act, all of these are exempted from the scheme.

Vivad Se Vishwas Scheme Application Form pdf Download

  1. Go to the website of Income tax Department-https://www.incometaxindia.gov.in/
  2. Now fill the trust declaration form-like ITR-7
  3. Submit it and the income tax department will provide certificate in 15 days.
  4. Deposit the amount fixed within 15 days of certificate receiving.
  5. This is basically a Vivad Se Vishwas Scheme Application Form pdf download available.

नाबार्ड डेयरी योजना 2020

This scheme will help the taxpayers to deposit the tax without any hesitation and the disputed amount problem has been resolved soon.

vivad se vishwas scheme faq

Que:-How much amount has been exempted from this scheme?

Ans- The disputed amount which is more than 5 crores.

Que2: How much extra time the tax payer will get?

Ans. The applicant will get time upto 30 June