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The total number of taxpayers who have opted for the Direct Tax Vivad Se Vishwas Act since its enactment is 35,074 through Form-1 (Declaration under the scheme) that have been submitted till 8th September, 2020. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha.
Giving more details, the Minister further said that the revenue generated till date through the Act is ₹ 9,538 crore. This figure does not include the payments made by the taxpayers who are yet to file their declarations under the Scheme. The time-limit for filing of declaration under the scheme has been extended till 31st December, 2020.
Tax dispute settlement scheme increases voluntary declarations, extends filing deadline and augments government settlement receipts. The Vivad Se Vishwas scheme recorded 35,074 Form 1 declarations through 8 September 2020 and realized reported receipts of Rs. 9,538 crore, a figure that excludes payments by taxpayers who have not yet filed declarations; the filing deadline for declarations has been extended to 31 December 2020.Press 'Enter' after typing page number.