Tax litigation: If your case is weak, opt for Vivad se Vishwas Scheme

Consider factors like your chances of winning, cost of litigating, consequences of losing, implications of carrying forward losses, and so on and then decide whether to participate in the scheme

indian companies, contracts, agreement, documents, brokers, agents, insurance, investments, taxes, arbitration

premium

The scheme provides a simple way to resolve disputes without having to move any court or government office

Bindisha Sarang Mumbai

4 min read Last Updated : Dec 12 2020 | 12:38 AM IST

The government introduced the Vivad se Vishwas Scheme earlier this year to settle tax disputes pending before any appellate forum. The government’s aim in introducing it is to reduce pending litigation. A taxpayer can opt for it by filing a declaration on or before December 31, 2020, and paying the disputed tax amount by March 31, 2021.

Lukewarm response: This scheme has evoked a poor response so far. Gopal Bohra, partner, NA Shah Associates says, “This is evident from the data on declarations submitted till date. The scheme has only 20 more days to go. Currently, more than 400,000 cases

Topics : tax disputes Tax dispute Tax dispute resolution