New Student Offer - HELLO

Join Here

Tamil Nadu announced a Samadhan Scheme

Published on October 11, 2023
Current Context: The Tamil Nadu government has announced a new Samadhan scheme to help traders settle their pending tax dues, penalties, and interest. The scheme was announced by the Tamil Nadu Chief Minister MK Stalin at the State Assembly.
Tamil Nadu announced a Samadhan Scheme
  • The scheme is designed to settle the pending tax dues of about 25,000 crore, a majority of which are under the erstwhile Tamil Nadu Value Added Tax and other legacy tax legislations.
  • The scheme has classified the tax dues under five broad categories - 50,000 and below, above 50,000 to 10 lakh, above 10 lakh to 1 crore, above 1 crore to 10 crore and above 10.
  • For tax arrears for an assessment year below ₹50,000, the scheme offers a complete waiver of tax arrears, interest, and penalty.
  • For the tax dues that fall in the category of 50,000-10 lakh, traders can just pay 20 per cent of the dues or by paying a portion of the tax, interest, and fine to settle the disputes once and for all.
  • The new Samadhan scheme will commence on October 16, 2023, and will be in force till February 14, 2024.

Question:

Q.1 Who announced the Samadhan scheme?
a. Prime Minister of India
b. Chief Minister of Tamil Nadu
c. President of India
d. Finance Minister of India
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu