<h1>Lok Sabha Passes Direct Tax Vivad se Vishwas Bill 2020 to Resolve Tax Disputes with Reduced Penalties and Interest.</h1> The Direct Tax Vivad se Vishwas Bill, 2020, was passed by the Lok Sabha on March 4, 2020. This legislation aims to resolve pending direct tax disputes in India by offering taxpayers a chance to settle their cases with reduced interest and penalties. It is designed to reduce litigation and expedite the resolution of tax-related issues. The bill provides a framework for settling disputes by paying the disputed tax amount and receiving waivers on interest and penalties, encouraging timely compliance and reducing the burden on the judiciary.