The Revenue Department has reviewed the progress of Vivad se Vishwas Scheme, a direct tax legacy dispute resolution scheme launched by the government in March this year, according to sources.
The finance ministry sources, who wished not to be identified, revealed that till date Rs 72,480 crore of tax has been paid by CPSUs and taxpayers against the disputed demand under the scheme.
They said the Income Tax Department has also received a total of 45,855 declarations until November 2020 worth Rs 31,734 crore under the scheme.
Total disputed amount of Central Public Sector Undertakings (CPSUs) being settled under the scheme is Rs 100,195 crore, the sources added.
They further added that the department will adopt proactive approach for implementation of the scheme by regular monitoring.
The department will also launch an e-campaign to inform taxpayers about the scheme.
The Direct Tax Vivad se Vishwas Act, 2020 was enacted on March 17, 2020, to settle direct tax disputes pending in various appellate forums.
Earlier the date for filing declaration and making payment without additional amount under the scheme was extended from March 31 to June 30. However, deadline was further extended to December 31, 2020.
-With PTI inputs