Govt extends time till June 30 for making payment under Vivad Se Vishwas scheme

The government has extended the deadline for making payments under the Direct Tax Vivaad Se Vishwas dispute resolution scheme and some compliances under the Income Tax Act by two months till June 30, in light of the second wave of Covid-19 raging across India.

According to the previous time frame, those who had applied to settle their tax disputes under the Direct Tax Vivad Se Vishwas Act were required to pay the settled tax amount by April 30. Prior to this, the government had extended the deadline for availing the tax dispute settlement scheme five times till March 31.

The government also extended various other tax compliance deadlines by two months from April 30.

“In view of the severe Covid-19 pandemic raging unabated across the country affecting the lives of our people... various time barring dates, which were earlier extended to April,30, 2021 by various notifications as well as under the Direct Tax Vivad se Vishwas Act, 2020, may be further extended,” the finance ministry said in a statement on Saturday.

These included the time limit for passing orders for assessment or reassessment under section 153 and 153B of the Income Tax Act and for passing orders after the directions from the dispute resolution panel.

The deadline for reopening assessment on income that escaped assessment under section 148 has also been extended till June 30, along with the time limit for sending intimation of processing of equalisation levy, said the ministry.