Government Earns Rs 9,538 Crore From Direct Tax Dispute Resolution Scheme So Far
The government has collected Rs 9,538 crore revenue from the Direct Tax Vivad Se Vishwas scheme, Parliament was informed on Sunday.
Minister of State for Finance Anurag Singh Thakur said as many as 35,074 declarations have been filed under the scheme as on Sep. 8.
"The revenue generated till date through the (Direct Tax Vivad Se Vishwas) Act is Rs 9,538 crore. This figure does not include the payments made by the taxpayers who are yet to file their declarations under the scheme," Thakur said in a written reply in the Rajya Sabha.
In her budget speech this year, Finance Minister Nirmala Sitharaman had proposed the direct tax dispute resolution scheme, which provides an opportunity to taxpayers to pay outstanding taxes and get a waiver of interest and penalty.
In March, the Direct Tax Vivad Se Vishwas Act was passed. The dispute resolution scheme is valid till December 31, 2020.
As many as 4.83 lakh direct tax cases involving Rs 9.32 lakh crore in disputed taxes are locked in various appellate forums. The amount is equivalent to 82 per cent of the government's direct tax revenue in FY2018-19.