Enormous taxpayers yet to Reap the Good Advantage of Sabka Vishwas amnesty Strategy

As numerous as 87.5 percent of those qualified taxpayers have taken advantage of Sabka Vishwas, a dare resolution-cum-amnesty strategy, that was extended until January 15. On the other hand, the big taxpayers that are nearly 12.5 percent of their overall qualified taxpayers with complete tax quantity of Rs 1.7 trillion beneath lawsuit has yet to earn statement under this scheme.

According to sources, the government is not likely to further expand the strategy that went live on September 1, 2019. The sources mentioned till today, 161,214 taxpayers (87.5 percent ) from the total 184,000 qualified taxpayers have already availed the strategy.

These taxpayers have announced tax refunds of about Rs 79,968 crore and after availing the numerous reliefs and amnesty according to the principles of their scheme, they’d cover roughly Rs 35,094 crore, sources said.

But just 23,000 (roughly 12.5 percent of the total) qualified taxpayers still haven’t implemented under the scheme while the great majority of the smaller taxpayers have opted for the strategy. The sources stated its officers are chasing taxpayers to avail this strategy prior to January 15 because it wouldn’t be expand farther.

About the author

Sarah Lacy

Sarah Lacy

Sarah Lacy is a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.
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