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Vivad Se Vishwas Scheme 2020: Online Application, Objectives, Eligibility & Benefits

Short Brief: विवाद से विश्वास स्कीम क्या है? विवाद से विश्वास स्कीम आवेदन प्रक्रिया – [Apply Online] Vivad Se Vishwas Scheme (VSVS) 2020 – Online Registration, Application Form, Eligibility, Features, Benefits and Check Online Application Status at Official Website www.incometaxindiaefiling.gov.in.

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Short Scheme Details
Name of Scheme: Vivad Se Vishwas Scheme

Application Status: Active

Scheme Benefit: Easy opportunity for resolution of disputes related to direct tax for taxpayer

Table of Content
Published on: 08/14/2020
Updated on: 08/14/2020

विवाद से विश्वास स्कीम 2020

Latest News Update:  

  • Modi government’s plan to settle direct tax disputes
  • The bill of trust scheme has been introduced in the Lok Sabha by controversy
  • With this, lakhs of direct tax cases will be settled.
  • Under this, tax collectors will get exemption till 31 March

Vivad Se Vishwas Scheme 2020 Apply Online

Summary:  Vivad Se Vishwas Scheme is one such scheme of the central government, under which there is an easy opportunity for resolution of disputes related to direct tax (income tax) for taxpayers. Dispute to Confidence Scheme: The Direct Tax Disputes Confidence Bill, 2020 has been introduced in the Lok Sabha and is expected to be passed soon.

All Candidates who are willing to apply online application then download official notification and read all eligibility criteria and application process carefully. We will provide short information about “Vivad Se Vishwas Scheme 2020” like Scheme Benefit, Eligibility Criteria, Key Features of Scheme, Application Status, Application process and more.

Vivad Se Vishwas Scheme 2020 – Overview
Name of Scheme Vivad Se Vishwas Scheme (VSVS)
in Language विवाद से विश्वास स्कीम
Launched by Union Finance Minister Nirmala Sitharaman
Beneficiaries Income tax payer
Major Benefit Resolution of disputes
Scheme Objective easy opportunity for resolution of disputes related to direct tax for taxpayer
Scheme under State Government
Name of State All India
Post Category Scheme/ Yojana
Official Website www.incometaxindiaefiling.gov.in
Important Dates
Event Dates
Launch date 1 February 2020
Payment date June 30, 2020
Important Links
Event Links
Apply Online Registration Login
Notification Click Here
Vivad Se Vishwas Scheme 2020 Official Website

Vivad Se Vishwas Scheme 2020: Know All About

The Narendra Modi government of the Center has launched a special scheme ‘Vivad se Vishwas Scheme’ to quickly deal with all the tax related matters (Income Tax Case). The purpose of bringing this scheme is to resolve the pending disputes. In all the courts, 4.83 lakh cases involving direct tax of Rs 9.32 lakh crore are pending. Under this scheme, taxpayers will have to pay only the disputed tax amount. They will get full rebate on interest and penalty. 

Direct Tax Vivad Se Vishwas Bill 2020

  • Bill was introduced in the Parliament on 5th Feb, 2020.
  • Subsequently, representations were received from the stakeholders regarding various provisions of
    the Bill.
  • Accordingly, certain clauses of the Bill have been proposed to be amended to widen the scope of
    Bill & ease the compliance burden on the part of tax-payer.
  • Currently the DTVSV Act 2020 has been passed by Parliament.

What will be the benefit?
In cases where only interest or penalty is made, 25 per cent of the disputed interest or penalty will have to be paid by 31 March. After that this amount will increase to 30 percent.

Till when will the scheme remain open?
The plan will be open till 30 June 2020. It is necessary to get the trust bill passed quickly by the dispute as the last date to avail exemption from interest and penalty is 31 March.

Objectives of Vivad Se Vishwas Scheme 2020

  • Pending disputes related to direct tax are settled under this scheme.
  • The objective of this scheme is to resolve about 4.83 lakh disputes related to direct tax pending in various appellate forums.
  • Reduce income tax pending litigation
  • Generate timely revenues for the Government
  • Help taxpayers end their tax disputes with the department by paying disputed tax and get waiver from payment of interest and penalty. Also get immunity from prosecution.

Vivad Se Vishwas Scheme Online Registration Process

According to the details of the scheme in the bill, the authorized officer will decide the amount due within 15 days that the taxpayer will disclose in his deaccession. After this, a certificate will be given to the taxpayer. In this, tax arrears or due amount will be given after assessment.

Step to Application Process of Vivad Se Vishwas Scheme Application Form 2020

Step 1- Submit all the necessary information in the trust declaration form from the taxpayer dispute and submit it in the forum.

Step 2- A certificate will be issued by the Income Tax Department within 15 days, revealing the total amount due under the scheme.

Step 3- The taxpayer must deposit the amount stated therein within 15 days of receiving the certificate.

Step 4- This information has to be filled in a fixed form and shared back with the Income Tax Department.

Step 5-After this, an order related to the payment to the taxpayer will be issued.

Step 6- This order will be completely negative and it cannot be challenged in any court of the country or abroad.

Vivad Se Vishwas Scheme Eligibility Criteria

Beneficiary Guidelines

Who can take advantage of the scheme?”

According to the bill, the scheme will apply to cases of tax which were pending till 31 January 2020 in the Commissioner (Appeals), Income Tax Appellate Tribunal, High Court or Supreme Court. Pending appeals may be related to tax disputes, penalties or interest. It can also be related to assessment or re-assessment.

  • Appeals, writs, SLPs, arbitration (filed by Department or taxpayer) filed on or before 31 Jan 2020.
  • Orders for which time for filing appeal has not expired on 31 Jan 2020.
  • Cases pending before Dispute Resolution Panel (DRP).
  • Cases where DRP issued direction on or before 31 Jan 2020 but order has not yet been passed.
  • Cases where assessee filed revision application under section 264 on or before 31 Jan 2020.
  • Dispute where payment has already been made shall also be eligible.

Who can not take advantage of the scheme?

The scheme will not be availed in the outstanding tax cases which are related to the cases mentioned below:

1. In relation to the assessment year in which the assessment is done under section 153A or section 153C.

2. Regarding the assessment year where the liability has been proved before filing the declaration.

3. Income from any source from outside the country and it has been hidden.

4. The scheme will not be taken advantage of in cases related to section 90 or section 90.

5. Against whom the order of custody has been passed before filing the deletion under various provisions.

Major Benefits

Beneficiary Benefits

Taxpayers will get benefit : Taxpayers desirous of resolving disputes under the proposed scheme will be given full exemption from interest and penalty if they pay the full amount of tax by 31 March this year.

Key Features of Scheme

Scheme Feature

  • Finance Minister Nirmala Sitharaman had announced to introduce this scheme in his budget speech on February 1, 2020. Under this, there is a plan to settle lakhs of pending direct tax cases in the country.
  • Under the scheme, if the disputed tax is paid before March 31, 2020, the amount of interest and penalty will be waived.
  • If a taxpayer does not pay direct tax by 31 March, then he will be given more time till 30 June. But in such a case, he will have to pay 10 percent more tax.
  • If a taxpayer has a dispute over only the interest and penalty, by March 31, he will have to pay only 25 per cent of the disputed amount and after that he will have to pay 30 per cent.
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