Vivaad Se Vishwas scheme to help save time, money in fighting disputes: FM

Finance Minister Nirmala Sitharaman on Monday said the direct tax dispute resolution scheme announced in Budget will be of great help to people as they will be able to save time and money spent in fighting cases.

As many as 4.83 lakh direct tax cases worth Rs 9.32 lakh crore are locked up in various appellate forums such as Commissioner (Appeals), ITAT, High Courts, Supreme Court and Debt Recovery Tribunals.

"The scheme will give settlement option to all those with disputed tax... This will be of great help because people spent a lot of time and money in settling cases,"