New Delhi, April 21 -- Vivad se Vishwas Scheme, meant to reduce pending income tax litigation, among other things, will finally close on April 30. Broadly, this is a dispute resolution mechanism in respect of pending income tax litigation for taxpayers.

The income tax department promises peace of mind totaxpayers, certainty and savings on account of time and resources which would otherwise be exhausted on the long-drawn court process.

These are some of the key things to know.

(i) a person in whose case an appeal or a writ petition (WP) or special leave petition (SIP) has been filed either by him or by the income-tax authority or by both, before an appellate forum and such appeal or petition is pending as on the specified date i.e. July...