IT Deptt holds interactive session on Vivad Se Vishwas scheme in Srinagar

Srinagar, Dec 19: The Income Tax Department, Jammu & Kashmir and Ladakh, today organised an interactive session cum seminar in collaboration with Kashmir Income Tax Bar Association (KITBA) and Kashmir CPE Chapter of ICAI to raise awareness about the benefits of the Vivad Se Vishwas Scheme (VSVS), 2024.

The event was held at the Conference Hall, Aaykar Bhawan, Rajbagh, Srinagar, and was attended by various stakeholders from the region’s taxation and business communities.

The session was presided over by the Principal Commissioner of Income Tax, J&K and Ladakh, Vikram Sahay. Speaking on the occasion, Sahay emphasised the importance of the scheme in reducing litigation and urged taxpayers to take advantage of the initiative. He urged participants, as representatives of taxpayers, to encourage settlement among taxpayers through this scheme.

The session aimed to raise awareness about the key provisions and benefits of the VSVS, 2024, an initiative introduced by the Ministry of Finance to resolve pending tax disputes amicably. During the seminar, detailed discussions were held on the scheme and its nuances, eligibility criteria, procedural guidelines, and its implications for taxpayers.

The session was attended by the officials of the Income Tax Department and prominent personalities in the field of taxation and business, including Deputy Commissioner of Income Tax, Shakeel Ahmed Ganie, Vice President, Kashmir Income Tax Bar Association, Bashir Ahmad Lone, General Secretary, Iqbal Ahmad Untoo, Convenor, Kashmir CPE Chapter of ICAI, CA Khateeb, representatives of PHD Chamber of Commerce, Kashmir and President, Kashmir Chamber of Commerce & Industries, Javed Ahmad Tenga.

The seminar included presentations and discussions on the scheme’s provisions and benefits, followed by an interactive session where stakeholders shared their views and sought clarifications.

Participants lauded the Income Tax Department’s efforts in organising the seminar and suggested that similar programs be conducted in other districts as well.