An online Webinar meeting on VIVAD SE VISHWAS SCHEME 2020 was conducted by the office of Joint Commissioner of Income Tax, Range-4, Nagpur on 2ndÂ December 2020 with the participation of members of Confederation of All India Traders (CAIT).
Shri Rajesh Ranjan Prasad, IRS, Pr. Commissioner of Income Tax 1 & 2 was the Chief Guest of the Meeting. In his key note address Shri Prasad stated that the â€œDirect Taxes Vivad Se Vishwas Scheme 2020â€ is launched by the government to reduce the disputed tax demand pending before various appellate authorities, to generate timely revenue and to save the time, energy and resources of tax payers as well as Government of India.
Earlier Shri Utttam Kasar IRS, Joint Commissioner of Income Tax, Range-4, Nagpur welcomed the eminent guests and participants of the Webinar. He moderated the proceedings and explained the advantages of the Vivad Se Vishwas Scheme 2020 of the Income Tax Department in which the Tax payers can resolve their disputes with the department by opting in the scheme. The declaration under the scheme need to be submitted latest by 31.12.2020 asÂ per the notification of Central Board of Direct Taxes. The payment of Taxes on such declarations are to be made by 31.03.2021. The eligibility conditions were explained in details to the participants. Scheme is applicable to all pending appeals before CIT (Appeals), ITAT, High Court and Supreme Court as on 31stÂ January 2020.Â Such Income Tax appeals may be against disputed Tax, disputed interest, disputed penalty, disputed fee or disputed TDS/TCS.
Speaking on behalf of tax payer B.C.Bhartia thanked Â Mr. R.R. Prasad IRS, PrincipalÂ CIT- 1 and 2, Nagpur, Mr. Uttam U. Kasar IRS, Jt. CIT, Ranger-4, Mr. V.S.Tasgaokar, ACIT Circle-4, Nagpur Income TaxÂ Officer Atul Ahuja, Azahar UlÂ Haq, P.T. Abraham, Anil Meena and Pranav Kumar for preparing lively presentation explaining provision in a very simple language. Raising a question B.C.Bhartia asked that As per the original VSVS 2020 Appeals /writs filed on or before 31.01.2020 are eligible. Since the date for filing form 1 is extended from 31.03.2020 to 31.12.2020, appeals filed after 31.01.2020 should also be allowed to take benefit of VSVS 2020, so that more assesses can opt for the scheme and litigation be reduced to that extent.
In reply it was said that since this is a policy matter his quarry will be forwarded to higher authorites.
Shri. V.S.Tasgaonkar, Asstt. Commissioner of Income Tax, Circle-4, Nagpur, Shri Atul Ahuja, Income Tax OfficerÂ and other officers of Range-4, Nagpur worked hard to make the webinar a grand success.
This meeting was well attended by Shr. B.C.Bhartia, Nationl President, along with executive committee members of Confederation of All India Traders(CAIT) and members of the various traders such as Kirana Merchants, Timber Traders and members of the business circle of Nagpur.
Those prominently present were TEAM CAIT Nagpur President Kishor Dharashivkar, TEAM CAIT Nagpur Chairman Gopal Agrawal, TEAM CAIT Nagpur Organising SecretaryÂ CA Nikhilesh Thakar,Â Prabhakar Deshmukh,Â Rajkumar Gupta,Â Â Mannubhai Soni,Â Â Dhyaneshwar Rakshak, Madhusudhan Trivedi, Prakash Jais, Anil Nagpal,Â Swati Sharma,Â Swarnima Sinha, Pramila Mishra, AnitaÂ Ramprasad, Shikha Gupta, Rekha Chaturvedi, Daya Bulotiya,Â Premlata Tiwari etc.