I-T dept lines up Rs 1-trillion PSU tax row under 'Vivad se Vishwas Bill'

Responding to the Vivad se Vishwas Bill introduced in the Lok Sabha earlier this month, the Income-Tax Department has identified at least 50 central and state public sector undertakings (PSUs) to be covered under the litigation settlement scheme. These state-run firms have been embroiled in legacy tax rows involving an estimated disputed amount of Rs 1 trillion, according to sources in the know.   The action plan came up in a video-conferencing discussion on Thursday between the  top officials of the Central Board of Direct Taxes (CBDT) and  Revenue Secretary Ajay Bhu.....

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