{"id":2834,"date":"2021-03-01T06:55:41","date_gmt":"2021-03-01T06:55:41","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=2834"},"modified":"2021-03-01T06:55:44","modified_gmt":"2021-03-01T06:55:44","slug":"cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/","title":{"rendered":"CBDT Notifies Extension of Deadline for the Vivad Se Vishwas Scheme"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Recently, the Central Board of Direct Taxes (CBDT),\nby way of the powers provided under section 3 of the Direct Tax Vivad se\nVishwas Scheme, has passed a Notification No. S.O. 964 (E), issued on\n26.02.2021, regarding the extension of deadline for the Vivad se Vishwas Scheme.\nFurther, the said amendment was made in the Notification, No 85\/ 2020, issued\non 27.10.2020.<\/p>\n\n\n\n<p>In this blog, we will cover the concept and\nextension of deadline for the Vivad se Vishwas Scheme.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a8f5e4e926\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a8f5e4e926\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Concept_of_Vivad_se_Vishwas_Scheme\" title=\"Concept of Vivad se Vishwas Scheme\">Concept of Vivad se Vishwas Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Objectives_of_Vivad_se_Vishwas_Scheme\" title=\"Objectives of Vivad se Vishwas Scheme\">Objectives of Vivad se Vishwas Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Notification_for_Extension_of_Deadline_for_Vivad_se_Vishwas_Scheme\" title=\"Notification for Extension of Deadline for Vivad se Vishwas Scheme\">Notification for Extension of Deadline for Vivad se Vishwas Scheme<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Deadline_for_Filing_Declaration\" title=\"Deadline for Filing Declaration\">Deadline for Filing Declaration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Payment_of_Tax_based_on_the_Third_Column_of_the_Table_to_Section_3\" title=\"Payment of Tax based on the Third Column of the Table to Section 3\">Payment of Tax based on the Third Column of the Table to Section 3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Payment_of_Tax_based_on_the_Fourth_Column_of_the_Table_to_Section_3\" title=\"Payment of Tax based on the Fourth Column of the Table to Section 3\">Payment of Tax based on the Fourth Column of the Table to Section 3<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/cbdt-notifies-extension-of-deadline-for-the-vivad-se-vishwas-scheme\/#Official_CBDT_Notification_on_Extension_of_Deadline\" title=\"Official CBDT Notification on Extension of Deadline\">Official CBDT Notification on Extension of Deadline<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Vivad_se_Vishwas_Scheme\"><\/span>Concept of Vivad se Vishwas Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Vivaad se Vishwas Scheme 2020 was announced by our Union Finance Minister, Ms Nirmala Sitharaman, in the Budget Speech 2020 as the \u2018No Dispute but Trust Scheme: Vivad se Vishwas Scheme\u2019. The main objective of this scheme was to settle down all the pending litigations concerning direct taxes.<\/p>\n\n\n\n<p>Moreover, it shall be noted that this particular\nscheme is a \u2018Win-Win Dispute Resolution Package for both taxpayer and government,\nand it offers both certainty and immunity to the taxpayer pertaining to Income\nTax Return Filing and prosecution. Also, the same ensures timely revenue\ngeneration, saving of resources and time of the government.<\/p>\n\n\n\n<p>Also, it shall be noted that the concept of its scheme is similar to the scheme named \u2018Indirect Tax, Sabka Vishwas\u2019. The same was introduced by the Finance Minister during her budget presentation in the year 2019. Further, the main aim of this scheme was to reduce dispute concerning excise and service tax payments.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/cbdt-clarifies-provisions-regarding-tds-deduction-from-salaries-for-f-y-2020-21\/\">CBDT Clarifies Provisions Regarding TDS Deduction from Salaries for F.Y. 2020-21<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Objectives_of_Vivad_se_Vishwas_Scheme\"><\/span>Objectives of Vivad se Vishwas Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The main objectives of the  Scheme of Vivad se Vishwas are as follows:<\/p>\n\n\n\n<ul><li>To resolve pending tax disputes and litigations;<\/li><li>To save resources and time of the government;<\/li><li>To facilitate timely revenue generation for the\ngovernment;<\/li><li>To assist the taxpayers in ending their pending tax\ndisputes;<\/li><li>To offer waiver from the payment of interest and\npenalty;<\/li><li>To provide immunity against prosecution;&nbsp; <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Notification_for_Extension_of_Deadline_for_Vivad_se_Vishwas_Scheme\"><\/span>Notification for Extension of Deadline for Vivad se Vishwas Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The notification passed by <a href=\"https:\/\/www.incometaxindia.gov.in\/pages\/about-us\/central-board-of-direct-taxation.aspx\">CBDT<\/a> deals with the extension of deadline for the scheme of Vivad se Vishwas in the cases as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deadline_for_Filing_Declaration\"><\/span>Deadline for Filing Declaration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The deadline for\nfiling declaration has been substituted from 28.02.2021 to 31.03.2021.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Payment_of_Tax_based_on_the_Third_Column_of_the_Table_to_Section_3\"><\/span>Payment of Tax based on the Third Column of the Table to Section 3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The deadline for making payment of tax based on the third\ncolumn of the table to section 3 has been substituted from 31.03.2021 to\n30.04.2021.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Payment_of_Tax_based_on_the_Fourth_Column_of_the_Table_to_Section_3\"><\/span>Payment of Tax based on the Fourth Column of the Table to Section 3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The deadline for making payment of tax based on the fourth\ncolumn of the table to section 3 has been substituted from 01.04.2021 to 01.05.2021.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, Vivaad se Vishwas\nScheme 2020 aims to settle down all the pending litigations concerning direct\ntaxes. Further, it is similar\nto the scheme named Indirect Tax, Sabka Vishwas, which was introduced in the\nBudget speech of the year 2019. <\/p>\n\n\n\n<p>However, the CBDT has passed a\nNotification No. S.O. 964 (E), issued on 26.02.2021, regarding the extension of\ndeadline for the Vishwas se Vivaad Scheme. The said notification was an\namendment to the Notification, No 85\/ 2020, issued on 27.10.2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Official_CBDT_Notification_on_Extension_of_Deadline\"><\/span>Official CBDT Notification on Extension of Deadline<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/03\/Official-CBDT-Notification-on-Extension-of-Deadline.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Official-CBDT-Notification-on-Extension-of-Deadline<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-tax-audit-report-and-itr-in-ay-2020-21\/\">Extension of Due Dates for Tax Audit Report and ITR in AY 2020-21<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, the Central Board of Direct Taxes (CBDT), by way of the powers provided under section 3 of the Direct Tax Vivad se Vishwas Scheme, has passed a Notification No. S.O. 964 (E), issued on 26.02.2021, regarding the extension of deadline for the Vivad se Vishwas Scheme. Further, the said amendment was made in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[50],"tags":[442],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2834"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=2834"}],"version-history":[{"count":5,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2834\/revisions"}],"predecessor-version":[{"id":2842,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2834\/revisions\/2842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/2838"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=2834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=2834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=2834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}