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Vivad Se Vishwas Act: CBDT Extends Date Under Section 3

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The Central Board of Direct Taxes ( CBDT ) has extended the date under section 3 of the Vivad se Vishwas Act. The amount payable by the declarant is provided in the table under section 3 of the Direct Tax Vivad se Vishwas Act 2020.

 

The last date for payment of the amount (without any additional amount) has been announced as 31st August 2021, according to the most recent notification dated 25th June 2021.

Vivad Se Vishwas Act: CBDT Extends Date Under Section 3
Furthermore, the deadline for payment of the amount (plus any additional amounts) due under the Vivad se Vishwas Act has been set for October 31, 2021.

Given the problems encountered in producing and modifying Form No. 3, which is required for declarant payment under the Vivad se Vishwas Act, it has been agreed to extend the deadline for payment of the amount (without any additional amount) to September 30, 2021. The necessary notification will be sent as soon as possible.

It is clarified, however, that there is no proposal to amend the last date for payment of the sum (with additional amount) under the Vivad se Vishwas Act, which remains October 31, 2021.

 

The proposal was introduced in the Lok Sabha on February 5, 2020, and was almost immediately recalled for changes to accommodate diverse representations from key stakeholders. Following that, the Cabinet approved a revised scheme, which was then passed by the Lok Sabha on March 4, 2020. A circular released by the Central Board of Direct Taxes addressed many areas of the modified plan that required clarification (CBDT).

Read more about: income tax cbdt
Story first published: Sunday, August 29, 2021, 15:26 [IST]
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