Centre Notifies Direct Tax Vivad se Vishwas Act To Reduce Direct Tax Litigation [Read Act]

The Central government on Tuesday notified the Direct Tax Vivad se Vishwas Act, 2020, to reduce direct tax litigation. The legislation had received a nod from the Lok Sabha on March 4, and being a money bill it was returned by the Rajya Sabha on March 13. The Act, aimed to reduce tax litigation, was moved by Finance Minister Nirmala Sitharaman, to set up a mechanism for resolution...