Vivad se Vishwas Scheme

Chart of Extension of Time Limits for Income Tax Compliance

Income Tax - Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 & 75/2021 dt 25.06.2021 EXTENSION OF TIME LIMITS FOR EASE OF TAX COMPLIANCE Co...

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Income Tax : Exemption & extension of timelines

Income Tax - TAX EXEMPTION Taxpayer Financial help received from employers and well-wishers for meeting expenses incurred for treatment of COVID-19 is exempt from income tax liability in the hands of the taxpayer from Financial Year 2019-2020 onwards. Family of Taxpayer Financial assistance (ex-gratia payment) extended by employers and well-wishers to...

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FAQs on Direct Tax Vivad Se Vishwas Act, 2020

Income Tax - Q.1 Which appeals are covered under the Vivad se Vishwas? Ans: ​Appeals pending before the appellate forum [Commissioner (Appeals), Income Tax Appellate Tribunal (ITAT), High Court or Supreme Court], and writ petitions pending before High Court (HC) or Supreme Court (SC) or special leave petitions (SLPs) pending before SC as on the 31st...

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CBDT Extends Vivad se Vishwas Dates Yet Again. So Your Appeals may have to Wait Longer!!

Income Tax - CBDT Extends Vivad se Vishwas Dates Yet Again. So Your Appeals may have to Wait Longer!! Well Yes Friends, it’s about 5 months since the PAN India rolling out of the Faceless Appeal Scheme, 2020 implemented w.e.f. 25.9.2020, but till date not even one single Faceless Appeal Order has churned out of the new regime […]...

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Dispute Resolution Scheme For Small & Medium Tax Payers-Section 245MA

Income Tax - INTRODUCTION According to a Survey India records highest rate of bribery in Asia i.e.39% and highest rate of citizens using personal connections (46%). Worries grew as inflation rate rose from 3.7% to 12.1% over 2001-2010. Bigger scams involving lakhs crores of rupees were into pockets of officials and ministers. Corruption became great h...

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Representation for extending dates for furnishing belated/Revised Returns

Income Tax - We humbly make a revenue friendly as well as taxpayers friendly suggestion for extending dates for furnishing belated/ Revised Returns for AY 2020-21....

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Request to extend due date of compliance under Income Tax Act

Income Tax - Representation for extending various due dates of compliance under the Income Tax Act, 1961/ Payment under Vivad Se Viswas Scheme falling within 30th June, 2021 to 31st August, 2021...

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Extend date for payment under Vivad Se Vishwas Scheme

Income Tax - DTPA has made a Representation to FM for extension of date for payment of amount under Vivad Se Vishwas Scheme to 31st July 2021 considering adverse impact on economy due to 2nd Wave of Corona. Full Text of their representation is as follows:- DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. Place West, Ground [&hel...

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VSV Scheme: Rs. 98328 crore disputes resolved till 01.03.2021

Income Tax - A total of 1,28,733 Declarations have been filed in Form 1 till 1st March, 2021 by taxpayers. These include 1,393 declarations by Central PSUs and 833 declarations by State PSUs/ boards. Declarations have been filed by taxpayers for resolution of Tax disputes amounting to Rs. 98,328 crore till 1st March 2021. Payment of Rs. 53,346 crore...

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Representation for widening scope of Vivad Se Vishwas Scheme

Income Tax - Representation for widening the scope of Vivad Se Vishwas Scheme and also relaxing restrictions in Para 8.1, 8.3, 9 and 9.1 of Guidelines for compounding of   offence under Income Tax Act on the petition of an applicant with regard to FAQ No 22....

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Authority could not deny benefit of Vivad Se Vishwas scheme if assessee was eligible for the same

Bhupendra Harilal Mehta Vs PCIT (Bombay High Court) - Bhupendra Harilal Mehta Vs Principal Commissioner of Income Tax (Bombay High Court) Conclusion: Direct Tax Vivad Se Vishwas (DTVSV) Act, 2020  was a beneficial legislation and department could not deny the benefit if assesee was eligible for the same. Thus, department had to pass a fresh order in ...

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ITAT dismisses Appeal as appellant filed application under VSV Scheme

Abid Ali Vs ACIT (ITAT Delhi) - Abid Ali Vs ACIT (ITAT Delhi) The present appeal has been filed by the assessee against the order of the ld. CIT(A), Aligarh dated 06.11.2017. 2. At the outset, it was brought to the notice of bench by the ld. AR that the assessee has filed application under the ‘Direct Tax Vivad se Vishwas Ac...

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HC directs revenue to consider Application under Vivad Se Vishwas Act, 2020

Sadruddin Tejani Vs ITO (Bombay High Court) - Sadruddin Tejani Vs ITO (Bombay High Court) The basic facts set out above are not in dispute. Without getting into the merits of the demands by the Revenue or the Application for Revision under Section 264 of the Income Tax Act by the Petitioner, it would be relevant to note that, it is not in [&hel...

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Delayed self-assessment tax payment cannot be construed to be a tax arrear for VSV Scheme

Macrotech Developers Limited Vs PCIT (Bombay High Court) - Macrotech Developers Limited Vs PCIT (Bombay High Court) In so far the prosecution against the petitioner is concerned, the same has been initiated under section 276-C(2) of the Act because of the delayed payment of the balance amount of the self-assessment tax. Such delayed payment cannot be constr...

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Appeal filed with condonation request is pending but not admitted appeal & Eligible for VSV Scheme

Shyam Sunder Sethi Vs PCIT (Delhi High Court) - Shyam Sunder Sethi Vs PCIT (Delhi High Court) The fact that the appeal included a plea of condonation of delay is not in dispute. Therefore, the appeal could not have been admitted unless the delay was condoned. But that by itself does not efface the fact that the appeal was pending. An appeal would...

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Last date of payment under Vivad se Vishwas extended

Notification No. 75/2021-Income Tax [S.O. 2581(E)] - (25/06/2021) - Last date of payment of amount under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June, 2021 is further extended to 31st August, 2021. Last date of payment of amount under Vivad se Vishwas (with additional amount) has been notified as 31st October, 2021. Also Read:...

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Government extends time for payment under VSV to 30.06.2021

Notification No. 39/2021-Income Tax/S.O. 1704(E) - (27/04/2021) - Government extends time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, to 30th June, 2021 vide Notification No. 39/2021-Income Tax, Dated: 27th April, 2021. Also Read: Government extends timelines for Income Tax Assessment (Read Notificat...

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Government extends timelines for Income Tax Assessment (Read Notification)

Notification No. 38/2021-Income Tax/S.O. 1703(E) - (27/04/2021) - Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-...

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Clarifications on provisions of Direct Tax Vivad se Vishwas Act

Circular No. 04/2021-Income Tax - (23/03/2021) - Sections 10 and 11 of Vivad se Vishwas empower the Central Government / Central Board of Direct Taxes to issue directions or orders in public interest or to remove difficulties. In order to facilitate the taxpayers, clarifications under the said sections in form of answers to frequently asked questi...

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AO can pass consequential orders under Vivad se Vishwas: CBDT

Circular No. 03 of 2021-Income Tax - (04/03/2021) - Under section 10 of Vivad se Vishwas, it is hereby clarified that where designated authority has passed orders under section 5(1) & (2) of Vivad se Vishwas, the Assessing Officer shall pass consequential order....

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Recent Posts in "Vivad se Vishwas Scheme"

Chart of Extension of Time Limits for Income Tax Compliance

Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 & 75/2021 dt 25.06.2021 EXTENSION OF TIME LIMITS FOR EASE OF TAX COMPLIANCE Co...

Read More
Posted Under: Income Tax |

Representation for extending dates for furnishing belated/Revised Returns

Ref. No. – DTPA/Rep/21-22/31 26/06/2021

We humbly make a revenue friendly as well as taxpayers friendly suggestion for extending dates for furnishing belated/ Revised Returns for AY 2020-21....

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Posted Under: Income Tax |

Income Tax : Exemption & extension of timelines

TAX EXEMPTION Taxpayer Financial help received from employers and well-wishers for meeting expenses incurred for treatment of COVID-19 is exempt from income tax liability in the hands of the taxpayer from Financial Year 2019-2020 onwards. Family of Taxpayer Financial assistance (ex-gratia payment) extended by employers and well-wishers to...

Read More
Posted Under: Income Tax |

Last date of payment under Vivad se Vishwas extended

Notification No. 75/2021-Income Tax [S.O. 2581(E)] 25/06/2021

Last date of payment of amount under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June, 2021 is further extended to 31st August, 2021. Last date of payment of amount under Vivad se Vishwas (with additional amount) has been notified as 31st October, 2021. Also Read: CBDT issues Notification extending vari...

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Request to extend due date of compliance under Income Tax Act

Representation for extending various due dates of compliance under the Income Tax Act, 1961/ Payment under Vivad Se Viswas Scheme falling within 30th June, 2021 to 31st August, 2021...

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Posted Under: Income Tax |

Authority could not deny benefit of Vivad Se Vishwas scheme if assessee was eligible for the same

Bhupendra Harilal Mehta Vs PCIT (Bombay High Court)

Bhupendra Harilal Mehta Vs Principal Commissioner of Income Tax (Bombay High Court) Conclusion: Direct Tax Vivad Se Vishwas (DTVSV) Act, 2020  was a beneficial legislation and department could not deny the benefit if assesee was eligible for the same. Thus, department had to pass a fresh order in Form No.3 determining tax payable by ass...

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FAQs on Direct Tax Vivad Se Vishwas Act, 2020

Q.1 Which appeals are covered under the Vivad se Vishwas? Ans: ​Appeals pending before the appellate forum [Commissioner (Appeals), Income Tax Appellate Tribunal (ITAT), High Court or Supreme Court], and writ petitions pending before High Court (HC) or Supreme Court (SC) or special leave petitions (SLPs) pending before SC as on the 31st...

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Posted Under: Income Tax |

ITAT dismisses Appeal as appellant filed application under VSV Scheme

Abid Ali Vs ACIT (ITAT Delhi)

Abid Ali Vs ACIT (ITAT Delhi) The present appeal has been filed by the assessee against the order of the ld. CIT(A), Aligarh dated 06.11.2017. 2. At the outset, it was brought to the notice of bench by the ld. AR that the assessee has filed application under the ‘Direct Tax Vivad se Vishwas Act […]...

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Government extends time for payment under VSV to 30.06.2021

Notification No. 39/2021-Income Tax/S.O. 1704(E) 27/04/2021

Government extends time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, to 30th June, 2021 vide Notification No. 39/2021-Income Tax, Dated: 27th April, 2021. Also Read: Government extends timelines for Income Tax Assessment (Read Notification) MINISTRY OF FINANCE (Department of ...

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Government extends timelines for Income Tax Assessment (Read Notification)

Notification No. 38/2021-Income Tax/S.O. 1703(E) 27/04/2021

Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-...

Read More

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