In an attempt to make up for the sharp shortfall in tax collections, the Central Board of Direct Taxes (CBDT ) has set an August-end deadline for its field formations to compute taxes for all assesses and fixed monthly targets for disposing of appeals under the Vivad Se Vishwas scheme.
The scheme announced in the union budget presented by Finance Minister Nirmala Sitharaman in February this year, allows a complete waiver of interest and penalty to taxpayers if they pay the entire amount of tax in dispute by December 31.
CBDT chairman P C Mody has in a letter to Principal Chief Commissioners of Income Tax, pointed out that taxpayers are waiting to file applications under 'Vivad Se Vishwas' scheme, but they are also waiting for the correct demand to be intimated to them.
The CBDT chief also set a monthly target of disposing of pending appeals by sending communication through the e-filing portal and or through emails only.
This story is from the August 03, 2020 edition of Mail Today.
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This story is from the August 03, 2020 edition of Mail Today.
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