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Nirmala Sitharaman to Introduce 'Vivaad se Vishwas' Bil in Lok Sabha

  • FM Nirmala Sitharaman will bring a bill to give effect to Vivaad se Vishwas (dispute to trust) in India’s tax mechanism.
  • The bill will be introduced in the Lok Sabha around 12 noon after the question hour.
  • It aims to resolve a matter related to disputed tax.
  • While presenting budget Nirmala Sitharaman announced, "Vivad se Vishwas” scheme to resolve 483,000 direct tax disputes pending in various tribunals. 
  • The scheme offers waivers of penalty and interest if the disputed amount is paid before March 31, 2020.
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