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Vivad se Vishwas: Let this be the last scheme

We need innovative solutions to address tax litigation

Mukesh Butani & Tarun Jain 

Mukesh Butani & Tarun Jain

Last week witnessed the passage of the Direct Tax Vivad se Vishwas Bill even as it faced criticism from the Opposition, particularly in the Rajya Sabha. The Bill was lamented, underscoring the unjust bargain meted out to honest taxpayers in view of the indulgence shown to those whose conduct was vitiated by moral turpitude.

With Presidential assent to the Bill, a presumption of constitutionality is attached to it being the law of the land. Eligible taxpayers will undertake cost-benefit analysis with respect to pending disputes, submit declarations to close litigation and foreclose the ...

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First Published: Thu, March 26 2020. 01:04 IST
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