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As per the recent ‘Direct Tax Vivaad Se Vishwas Bill 2020’, what is the time-limit within which the tax-payers can pay the due tax with waiver?
December 31, 2020
September 30, 2020
May 31, 2020
March 31, 2020

Correct Answer : Option (D) - March 31, 2020

The Direct Tax Vivaad Se Vishwas Bill 2020 has been recently passed by the Lok Sabha. The bill was introduced in Lok Sabha by the Finance Minister Nirmala Sitharaman, on February 5, 2020.
The Bill provides a mechanism for resolution of pending tax disputes in direct tax including income tax and corporation tax. It seeks that taxpayers can settle disputes by paying their due taxes with waiver of interest and penalty by March 31, 2020.

Published On : July 16, 2021