Thursday, June 30, 2022
  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services
Janam TV English
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • ‌
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto
No Result
View All Result
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • ‌
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto
No Result
View All Result
Janam TV English
No Result
View All Result
  • News
  • Business
  • Defence
  • Health
Home News India

Parliament approves ‘Vivad Se Vishwas’ Bill

by Janam Web Desk
Mar 13, 2020, 05:18 pm IST
in India

New Delhi: The Parliament on Friday approved a bill that will provide an opportunity to taxpayers to settle disputes by paying due taxes with a complete waiver of interest and penalty till March 31.

The Direct Tax Vivad Se Vishwas Bill was passed by voice vote and returned by the Rajya Sabha as it was a money bill. It was approved by the Lok Sabha on March 4.

Replying to the debate on the bill in the Upper House, Finance Minister Nirmala Sitharaman said the government is definitely taking all steps towards addressing the issue of reduction of litigation on a priority basis.

Responding to whether the bill will provide amnesty to those who are covered under demonetisation related cases, she said this scheme is “not an amnesty scheme at all” but the taxpayer has to pay a certain amount and that tax amount, the undisclosed cash deposit during demonetisation is liable to suffer a tax of 75 per cent.

“Hence the taxpayer has to pay 75 per cent for settling the dispute regarding the cash deposits which have been made during the period of demonetisation. So it is not an amnesty for anybody,” Sitharaman said.

“That is why we have limited it to the topmost extent of Rs 5 crore and not beyond. So we do not want disputes which involve larger sums to take advantage of the scheme much before we can even establish what is behind those kind of disputes,” the finance minister said.

March 31 is the last date provided to pay dues without any additional penalty, whereas between March 31 and June 30 the dues can be paid with additional penalty of 10 per cent.

Tags: MAIN
ShareTweetSendShare

Related News

Kerala Governor joins fast against practice of dowry
Kerala

Kerala Governor joins fast against practice of dowry

Pak LeT commander among three militants killed in Pulwama encounter
Defence

Pak LeT commander among three militants killed in Pulwama encounter

Ramesh Bais takes oath as new Governor of Jharkhand
India

Ramesh Bais takes oath as new Governor of Jharkhand

Latest News

Uddhav quits; welcomes top court’s judgement on floor test

Uddhav quits; welcomes top court’s judgement on floor test

Next petrol shipment to arrive in Sri Lanka on July 22: Official

Next petrol shipment to arrive in Sri Lanka on July 22: Official

First batch of pilgrims reach Srinagar

First batch of pilgrims reach Srinagar

CM says blatant lie; do release CCTV footage; Swapna Suresh challenges Pinarayi Vijayan

CM says blatant lie; do release CCTV footage; Swapna Suresh challenges Pinarayi Vijayan

Militant killed in Kulgam

Militant killed in Kulgam

Protest boils in Rajastan over the butchery of Hindu man by Islamic terrorists; clashes erupt at Rajsamand

Protest boils in Rajastan over the butchery of Hindu man by Islamic terrorists; clashes erupt at Rajsamand

Udaipur killing; MHA directs NIA for enquiry

Udaipur killing; MHA directs NIA for enquiry

‘Unwarranted interference’, India slams UN rights council over comments on Setalvad arrest

‘Unwarranted interference’, India slams UN rights council over comments on Setalvad arrest

  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services

© Janam Multimedia Limited

No Result
View All Result
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • ‌
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto

© Janam Multimedia Limited