Govt may extend 'Vivad se Vishwaas' tax settlement deadline to September

Hopes for bettwe results post Covid-19 as revenue dept has not seen a single deposit owing to the disease outbreak

The deadline for the government’s ambitious direct tax settlement scheme — Vivad se Vishwas — is likely to be extended by three months till September 30.
 

The revenue department has not seen a single deposit, owing to the outbreak of the Covid-19 pandemic, said people in the know.

“The Centre wants to provide enough opportunity to taxpayers to avail of this one-time chance to settle disputes. But companies are witnessing negative growth and significant reduction in cash flows due to the lockdown, which may not allow them to function fully at least till the end of the first quarter,” said one