Direct Tax, 'Vivad se Vishwas' Bill, 2020 (scheme),
which was introduced in Lok Sabha on 5 February 2020 faced various
concerns from stakeholders on the limitations of the scheme.
As per recent reports, the government has notified the Lok Sabha
for moving amendments to the bill. Such amendments are expected to
be tabled in the Parliament soon.
Key highlights of the amendments are as follows:
Scope Expansion
It is proposed to expand the scope of the scheme to make it
applicable to the following scenarios:
- Cases pending before Dispute
Resolution Panel (DRP) as on 31 January 2020;
- Directions issued by DRP, but tax
officer is yet to pass the final assessment order;
- Pending revision applications filed
by taxpayers under section 264;
