Vivad Se Vishwas Scheme 2023: What is Vivad Se Vishwas Scheme, Complete Details


Vivad Se Vishwas Scheme has been started by Union Finance Minister Nirmala Sitharaman while presenting the Union Budget on 1 February 2020 to solve the problems related to disputed taxes. Under this scheme, disputed tax cases of direct tax payers will be dealt with. Under this dispute resolution scheme 2023, only the amount of disputed taxes will be paid to the taxpayers. only the amount of disputed taxes) will have to be paid. You should not pay any interest or penalty etc. on this amount.

Vivad Se Vishwas Scheme 2023

The Finance Minister says that the benefit from Vivad Se Vishwas Scheme will be provided to such taxpayers whose case is pending in any forum regarding tax. Is. After making the income tax return process faceless, it has also become easier for taxpayers to appeal. Through this, the identity of the taxpayer will not be revealed on any appeal. Today, through this article we are  going to provide you complete information about Vivad Se Vishwas Scheme 2020Therefore, read our article carefully and take advantage of this scheme.

03rd August Update:- Vivad se Vishwas-2 scheme launched to settle disputes related to government contracts.

The Finance Minister has launched the Vivad Se Vishwas-2 scheme on August 2, 2023 to settle pending cases related to the government and government undertakings. According to a statement issued by the Finance Ministry, this scheme will be applicable to all those domestic contract disputes in which the government or an organization controlled by it is a party. For this, contractors will have to submit their claims by 31st October. The ministry said contractors will have time until October 25 to submit their claims. According to the Ministry, under this scheme, up to 85 percent of the amount payable in the court orders will be given to the contractor on or before April 30. In case of court decision given on or before January 31, this amount will be up to 65 percent of the amount stated in the decision. Government procurement portal GEM has also created a separate web page for the operation of Vivad Se Vishwas-2 scheme. 

Last chance to avail benefits of Vivad Se Vishwas Scheme

As you all know, the Vivad Se Vishwas Scheme was started by the government to resolve the disputes related to income tax. You can avail the benefits of this scheme only till 31 December 2020. This scheme was earlier only till March 2020 but in view of the lockdown, the deadline of this scheme has been extended. Now this scheme is ending on 31 December 2023.

Now, under the Vivad se Vishwas scheme, businessmen who have disputes related to day tax amount have also been included. Appeals, tribunals, pending cases of courts etc. are also included under this scheme. The last date for depositing whatever amount of tax will be decided under the Vivad Se Vishwas Scheme has been fixed as 31 March 2021.

  • All those people who will be included under Vivad Se Vishwas Scheme will be exempted from penalty and punishment on depositing the prescribed tax and if the beneficiary has already deposited the tax amount then he will also get a refund.
  • It has also been told by tax consultant Mr. Santosh Gupta that on depositing the prescribed tax through this scheme, one will be exempted from interest, penalty and punishment. In case of raid, if the disputed income tax demand is less than Rs 5 crore, then in this situation the benefit of this scheme can be availed.
  • If the court has given a verdict of punishment, then in this situation the benefit of the dispute trust scheme will not be available. A certificate will also be provided to the beneficiary by the Income Tax Department on fulfillment of all the conditions of this scheme and deposit of the prescribed amount.

Vivad Se Vishwas Scheme Details in Highlights

name of the schemeVivad Se Vishwas Scheme
It is started byUnion Finance Minister Nirmala Sitharaman
launch date1 February 2020
Beneficiaryincome tax payer
payment dateJune 30, 2020

Permission to amend the dispute se trust scheme declaration

Now the Income Tax Department has given permission to amend the declaration under the Vivad Se Vishwas Scheme. Amendments to the declaration can be made as long as the authorization is outstanding and a certificate has been issued with complete details of tax payment. A new list of Frequently Asked Questions has been released by the Central Board of Direct Taxes. Under which many questions have been answered. In this list, it has been stated by CBDT that the benefit of Vivad Se Vishwas Scheme cannot be availed when proceedings are pending before the Income Tax Settlement Commission or a petition is filed against the order of ITSC.

  • If the resolution of the bilateral settlement process is pending or the taxpayer is not satisfied with the decision of the bilateral settlement process and has not accepted it, then in this situation an appeal can be made under the Dispute Se Vishwas Scheme. It also states that declaration can be made by the taxpayer only in those cases in which the Advance Ruling Authority has ruled in the interest of the taxpayer and the department has filed an appeal in the High Court or the Supreme Court and the income of the taxpayer has been determined. Has appeared before AAR.
  • Due to the Corona period, in October, the government extended the payment deadline for the third time under the Vivad se Vishwas scheme till March 31, 2021. If you want to avail the benefit of this scheme then you will have to submit the declaration by 31 December 2020.

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Objective of Vivad Se Vishwas Scheme

The main objective of this scheme is to reduce litigation in direct tax payments. Under the Vivad se Vishwas scheme launched by Finance Minister Nirmala Sitharaman, arrangements were made to settle disputed tax cases through direct taxes. Under this, taxpayers will have to pay only the amount of disputed taxes and they will not have to pay the interest charged on the tax. ) and complete waiver of penalty will be given. Through this Vivad Se Vishwas Scheme, taxpayers will be able to get relief from the painful process of litigation. This scheme will help in increasing the trust between the taxpayer and the administration and the rights of the taxpayers will be clear.

Time limit for availing the benefits of Vivad Se Vishwas Scheme

Under this scheme, taxpayers will have to pay their taxes by 31 March 2020. If any taxpayer pays under this Vivad Se Vishwas scheme after 31 March 2020, then they will have to pay some additional amount. This scheme will continue till June 30, 2020. Therefore, all income tax payers can avail the benefits of this scheme till 30 June 2020. The Finance Minister said that 4,83,000 direct tax cases are pending in various appellate forums i.e. Commissioner (Appeals), ITAT, High Court and Supreme Court, which will be resolved under this scheme.

Vivad Se Vishwas Scheme Application Process

Taxpayers who want to take advantage of this scheme will have to pay their taxes on time. No information about application under this scheme has been provided. As soon as there is any online application under this scheme, we will let you know through this article. Till then you will have to wait a little.