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News INCOME TAX

  • Apr 20, 2021
  • Vivad se Vishwas resolved 294% more cases than similar one in ‘98

    Liberal terms and a wider scope helped the latest direct tax amnesty scheme Vivad se Vishwas (VsV) resolve 294% more cases and settled disputes worth over ?1 lakh crore compared to a similar scheme launched in 1998 that reconciled about 34,000 cases involving a mere ?739 crore, government data showed on Monday.
    The Kar Vivad Samadhan Scheme (KVSS) launched on September 1, 1998, and closed on January 31, 1999, resolved 33,918 disputes involving ?738.74 crore as against 133,837 cases resolved under VsV, covering a disputed amount of ?1,00,437 crore, the data showed.