Income Tax : Get answers to commonly asked questions about the Direct Tax Vivad Se Vishwas Act, 2020. Learn which appeals and petitions are cov...
Income Tax : Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances...
Income Tax : TAX EXEMPTION Taxpayer Financial help received from employers and well-wishers for meeting expenses incurred for treatment of COVI...
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 s...
Income Tax : INTRODUCTION According to a Survey India records highest rate of bribery in Asia i.e.39% and highest rate of citizens using person...
Corporate Law : Government of India has introduced Vivad se Vishwas II - (Contractual Disputes) scheme to effectively resolve pending contractual ...
Corporate Law : Government provides a big relief to MSMEs for COVID-19 period; fulfils promise announced in Union Budget 2023-24 95% of bid or per...
Income Tax : Memorandum containing suggestions for Budget 2023 by CCI Professionals Forum with request to consider annoucing another Disclosure...
Income Tax : Representation regarding problems in Faceless Assessments & Faceless Appeals and Issues relating to VSV Matters to Chairman, C...
Income Tax : Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme The scheme ‘Vivad Se Vishwas’ is a voluntary scheme ...
Income Tax : Assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act) even where the...
Income Tax : ITAT Mumbai allows United Spirits Limited to claim MAT credit under the VSV Scheme for the year in question, setting a precedent f...
Service Tax : Madras High Court revived a company's dismissed tax dispute under the Sabka Vishwas Legacy Disputes Resolution Scheme (SVLDRS) due...
Income Tax : Bombay High Court held that denial of benefit under Vivad Se Vishwas Act, 2020 on erroneous allegation of non-filing of Form 4 unj...
Income Tax : Madras High Court Directs Timely Processing of Refund granted under section 5(2) of the Vivad Se Vishwas Act, 2020 in Writ Petitio...
Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...
Corporate Law : Discover clarifications and corrections issued for Vivad se Vishwas II scheme for contractual disputes in this official memorandum...
Corporate Law : Ministry of Finance introduced ‘Vivad se Vishwas II (Contractual Disputes)’ scheme to settle pending contractual dispu...
Corporate Law : Government proposes quick settlement of contractual disputes to promote ease of doing business as announced in Union Budget 2023-2...
Income Tax : Vide Notification No. 94/2021-Income Tax Dated: 31st August, 2021 CBDT under Direct Tax Vivad se Vishwas Act, 2020 extended the ...
All India Federation of Tax Practitioners (CZ) has requested CBDT that due date of filing return of income u/s 139(1) for all the assesses be suitably extended, to 28.02.2021,from the current extended due date of 31.12.2020 for AY 2020-21. Simultaneously, the ‘specified date’ for filing tax audit reports be extended from 31.12.2020 to 28.02.2021 as […]
Respected PM Sir and FM madam, I append below a write up for benefit of revenue by increasing scope and properly managing ‘Direct Tax Vivad Se Viswas Act, by accepting amount under declaration to settle all lost disputes of revenue- whether challenged by revenue or not and by accepting payment in advance with some early […]
Ms. Amrapalli Das has also advised the taxpayers to file the declaration before 31st December, 2020 so as to avoid last minute rush. Further, she has also said that the last date for filing declaration is 31.12.2020.
Direct Taxes Professionals’ Association has Request FM to extend the due date for Filing Declaration under Vivad Se Vishwas Scheme to 15th March, 2021 and date for payment without additional payment may be kept at 31st March, 2020. Full Text of the Representation is as follows:- DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. […]
In India litigation are pending since years wherein lot of dispute are only due to trend followers. Government has received 20-25% of demand in majority of case at the cost of high litigation and administrative hassles. According to author its a smart move to collect taxes and reduce litigation. Government has come forward vide different circulars to clarify tax position in VsV scheme, 10 key takeaways for professionals and taxpayers are
Key Takeaways from New FAQs issued by CBDT on Vivad se Vishwas Scheme, 2020 The Apex Body CBDT has issued Circular No. 21/2020 dated 4.12.2020 containing FAQ’s & Clarifications on some crucial & vital issues in the Vivad se Vishwas Scheme, 2020. This Circular has been issued in continuation of its earlier Circular No. 9/2020 dated […]
Circular No. 21/2020 is being issued in continuation of circular dated 22nd April, 2020 (which covered Q. no, I – 55) under section 10 and 11 of the Vivad se Vishwas to provide answers to 34 more FAQs (Q. no. 56 – 89).
BACKGROUND Direct Tax Vlvad se Vishwas Act, 2020 offers a win-win dispute resolution package that benefits the taxpayers as well as the Government. Taxpayers All also be better-off due to savings on account of time and resources, certainty with respect to their tax liability and immunity from penalty and prosecution. Government will benefit from timely […]
Chamber of Tax Consultants has made a representation to Hon’ble Finance Minister on Direct Tax Vivad Se Vishwas Act, 2020 brought to its attention some technical issues in implementation of Vivad Se Vishwas and suggestions to overcome those issues. It also submitted the same to CBDT Chairman and Revenue Secretary (CBDT). Text of the Representation […]
The primary reason for bringing out the Direct Tax Vivad Se Vishwaas Scheme 2020, as asserted by the learned Revenue Secretary is to ensure amicable resolution of disputes arising out of OCM/Demonetisation Cases. The Income-tax department has launched an aggressive outreach drive, wherein, a large number of jewellers and real-estate developers have been sent notices, emails and proposals to opt for this Tax Amnesty Scheme and avail the benefit of immunity from interest and penalty and even prosecution.
