Use coupon code TOP15 on all courses

Link

Current Affairs

CBDT named 3 Nodal Officers on Board VSV Scheme

Current context: The Central Board of Direct Taxes (CBDT) has named three ‘nodal officers’ to work with various ministries to ensure public-sector undertakings come on board the Vivad se Vishwas tax amnesty scheme.
CBDT named 3 Nodal Officers on Board VSV Scheme
  • The three senior CBDT members namely, Seema Patra, PK Dash and Prabhash Shankar will act as nodal officers between the ministries allocated to them.
  • The CBDT has directed field officers to “escalate” the issue with these officers in the event a public-sector undertaking (PSUs) expresses reservation over settling tax disputes under the scheme.
  • It also clarified that the joint certification of disputed tax can be signed by the authorised representatives of CPSEs.
  • The step is taken by the CBDT to ensure maximum participation in the tax amnesty scheme.
  • The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget, 2020 by the Finance Minister Nirmala Sitharaman.
  • It was announced to provide for dispute resolution in respect of pending income tax litigation.
  • The Direct Tax Vivad se Vishwas Bill, 2020 (Vivad se Vishwas) was introduced in the Lok Sabha on 5th of February, 2020 and passed by it on 4th of March, 2020.

Question: 

Q.1 The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget _________?
a. 2020
b. 2019
c. 2018
d. 2017
CBDT named 3 Nodal Officers on Board VSV Scheme CBDT named 3 Nodal Officers on Board VSV Scheme Reviewed by Neha Verma on March 08, 2020 Rating: 5

No comments:

Join 8,000+ readers and get free notes in your email