Parliament passes the Vivad Se Vishwas Bill for settlement of Direct Tax disputes

Tax

Parliament passed the Vivad Se Vishwas Bill for settlement of Direct Tax disputes on 13 March 2020. The Bill was presented in Lok Sabha (the lower house) by the Minister of Finance Nirmala Sitharaman on 5 February 2020. Lok Sabha passed it on 4 March 2020. It will provide a chance to settle direct tax disputes within the current financial year by waiving interest and penalty on their pending taxes.

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