Vivad Se Vishwas: A shout-out to the tax-compliant

VSV is expected to resolve a major part of direct tax litigations worth about Rs 4.8 lakh crore by way of remission and waiver of interest, and penalty for all pending disputes for which an appeal is filed. The provisions of the scheme also provide relief to taxpayers who have won their appeal at any stage by way of 50% remission of tax liability and 100% waiver of interest and penalty.

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