Vivad se Vishwas: Government Tasks Income Tax Department to Collect Rs Two Lakh Crore by March-End

New Delhi: In a huge challenge to the Income Tax department, the government has given it a target of collecting Rs two lakh crore in the next 45 days through the government’s new tax amnesty scheme called ‘Vivad Se Vishwas.

The target is to be achieved in the next 45 days, i.e by March 31, even as the scheme itself ends only in June.

The development comes just days after Prime Minister Narendra Modi raised the issue of too few Indians paying their income tax.

According to reports, the Prime Minister’s Office (PMO) has taken up the ownership of the scheme.
A special cell, which includes Revenue Secretary Ajay Bhushan Pandey and PC Mody, chairman, Central Board of Direct Taxes (CBDT) to monitor the collections under the scheme.

While the Vivad se Vishwas Bill is yet to be passed in Parliament (it is due to be taken up in March), tax officers have been directed to start raising concerns of both the assesses and taxmen. This is significant also because the CBDT will take into account the officers’ performance in collecting money under the scheme while deciding their future postings.

Introduced in Parliament on February 5, the Vivad se Vishwas is a Direct Tax scheme which aims to settle, in a speedy manner, as many as 4,83,000 direct tax cases pending in various appellate forums.

According to reports, over Rs nine lakh crore worth of direct tax disputes are pending in the courts.

TheLogicalNews

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by TheLogicalNews. Publisher: India

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