Indore (Madhya Pradesh): Dr Vipul Chavda, Joint Commissioner of Income Tax Department Range-1 of Indore, has said that the ‘Vivad Se Vishwas’ (VSV) scheme is a boon for traders to settle their tax disputes.
He said that the VSV Scheme, 2024 has been proposed with the objective of reducing pending income tax litigation and provides a dispute settlement mechanism pursuant to which eligible taxpayers can settle their pending tax disputes by paying a specified portion of tax arrears. Dr Chavda said these while addressing an outreach programme organised by the Income Tax Department at MT Cloth Market on Wednesday.
The programme was organised under the guidance of Pankaj Kumar Mishra, Principal Chief Commissioner of Income Tax (MP & Chhattisgarh), Bhopal and Ajay Atri, Principal Commissioner-1 of Income Tax Department, Indore. The objective of the programme was to brief various provisions of the scheme and the Income Tax Department and payment of advance tax.
Joint Commissioner of Income Tax Department Range-1, Dr Chavda gave information about the new Vivaad se Vishwas Scheme of the Government of India. Income Tax Officer Priyaranjan gave information about various provisions, rules and benefits of Income Tax related to business as well as provisions related to timely payment of advance tax.
Jitendra Agarwal, Income Tax Officer and Senior Chartered Accountants also shared their valuable thoughts in the programme. Officials and traders of Shrimant Maharaja Tukojirao Cloth Market Association, Sarafa Bazaar Association and other associations participated in the programme.
