The scheme is yet to come into effect as the Vivad se Vishwas Bill is pending in Parliament. The amended version would now be tabled in Parliament again.
The Budget session would re-convene next month. Sources said assessment wise details of PSU firms had been prepared including their assessment year, status of appeal, disputed demand, amount collected and pending along with the refund, if any. SBI, LIC and ONGC are among the major PSUs
with pending direct tax disputes estimated at Rs 30,000-40,000 crore, said an official dealing with the matter. The tax department will approach them to settle their tax matters under the new legislation, he added.
The meeting on Thursday also decided to start an intensive outreach programme for the industry and eligible taxpayers so that they respond to the scheme.
Meanwhile, senior officials are in the process of collating information linked to eligible taxpayers. “Since we sought details from various judicial forums including dispute resolution tribunals, the interested entity/persons should go through the nuances of the scheme to check whether their tax cases are eligible to come under the scheme,” said an official privy to the plan.
Meanwhile, considering the importance of the scheme, the CBDT is learnt to have made the scheme's success directly proportionate to tax officers' future posting. The performance of officers will be specifically commented upon after the review and shall be an important factor in determining their future posting.