Important points of Vivad se Vishwas scheme – 2020 with changes approved by Lok Sabha

• March 6, 2020
• CA Chandan Agarwal's Office

Vivad se Vishwas Scheme – 2020 has undergone lot of changes and it has been passed by Lok Sabha on 4^th March, 2020. It is a welcome scheme and will help reduce pending litigations. The key features of the scheme, after amendments, are as under :

1. Widening of the  Eligibility for the Vivad se Vishwas Scheme

Originally, the Bill has proposed to cover appeals pending before CIT(A), ITAT, High Court and Supreme Court.  It is proposed to expand the scope of the Scheme by covering the following matters :

a) Orders where time limit for filing appeal has not expired as on 31.01.2020

b) Case pending before DRP as on 31.01.2020 as well as cases where DRP had issued directions on or before 31.01.2020 but no order has been passed

c) Revision petitions pending before CIT u/s 264 on 31.01.2020

d) Search cases where the disputed demand is less than Rs. 5 Crore – The limit of Rs. 5 crore will be computed year wise.

Read more on: https://taxguru.in/income-tax/important-points-vivad-se-vishwas-scheme-2020-approved-lok-sabha.html