Income Tax : Simplified summary of the Direct Taxes Vivad Se Vishwas Scheme 2024 presented in Budget 2024 for settling income tax disputes effi...
Income Tax : Discover the Vivad Se Vishwas Scheme 2024, a landmark initiative to resolve tax disputes and reduce litigation under the Income-ta...
Income Tax : Explore the major changes proposed in the Income-Tax Act under the Final Budget 2024. Learn about simplified tax regimes, capital ...
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 : Explore the Direct Tax Vivad se Vishwas Scheme 2024 for resolving pending tax disputes. Learn about its provisions, benefits, and ...
Income Tax : Union Finance Minister outlines tax reforms in Budget 2024-2025, including Income-tax Act review, digitalization of tax services, ...
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 : ITAT Hyderabad held that as per the provisions of section 115VG of the Income Tax Act, once the assessee opts for the Tonnage Tax ...
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 : 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 ...
PPT on Vivad Se Vishwas Scheme, 2020 Purpose of Vivad Se Vishwas Scheme, 2020- To Reduce Income Tax Litigations pending before various Appellate Authorities i.e. CIT(A), ITAT, High Court and Supreme Court. Approximately 4.9 lakhs cases involving Dispute of Rs. 9.32 crores are pending at various Appellate Levels as on date. To save the Time, […]
Dismissal of Appeal by ITAT after filing Vivad Se Vishwas Scheme 2020 before receiving Form 3 from Department
While presenting the Union Budget 2020, Finance Minister Ms. Nirmala Sitaraman announced Vivaad se Vishwas scheme (‘VSV Scheme’ or ‘the Scheme’) as a part of GOI’s direct tax relief measures, in line with Sabka Vishwas Scheme, which aims at resolution of legacy disputes in Indirect Taxes. The Scheme aims at bridging the dispute-trust divide between […]
Article summarises Provisions of Direct Tax Vivad Se Vishwas Act, 2020 and contains/Explains Introduction to Direct Tax Vivad Se Vishwas Scheme, Who Are Eligible To Avail Direct Tax Vivad Se Vishwas Scheme, Quantification Of The Disputed Tax, Computation Of The Amount Payable Under Direct Tax Vivad Se Vishwas Scheme, Procedure For Filing Declaration Under Direct […]
PREAMBLE The Direct Tax Vivad se Vishwas Act, 2020 (DTVSV) received the assent of the Hon President of India on 17-3-2020. The CBDT had in Circular No 7/2020 dated 4-3-2020 clarified on 55 questions. The DTVSV Rules were announced on 18-3-2020 prescribing the forms and procedures and the website was developed and the portal was […]
CORRIGENDA TO CIRCULAR NO.9 OF 2020 DATED 22.04.2020 In the Circular No. 9/2020 of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct taxes), issued on the 22nd April, 2020,—
Please find5th edition of our e-book on ‘Vivad Se Vishwas Scheme’ which contain: – Brief about Vivad Se Vishwas Scheme – Analysis of Vivad Se Vishwas Scheme – Emerging issues – Key cases from IDS – The Direct Tax Vivad Se Vishwas Act, 2020 – The Direct Tax Vivad Se Vishwas Rules, 2020 – Relevant […]
It has now been clarified that where only notice for initiation of prosecution has been issued without prosecution being instituted, the assessee is eligible to file declaration under Vivad se Vishwas.
The taxpayers will therefore have to weigh their options carefully before opting for settling their disputes pertaining to reduction in loss/unabsorbed depreciation or MAT credit. Every permutation and combination ought to be examined to determine whether it is advisable to avail the scheme or litigate the matter.
The Story so far 1. Feb 01, 2020, Finance Minister speaks about the introduction of the scheme 2. On Feb 05, 2020, the Direct Tax Vivad se Vishwas Bill is introduced in the Parliament 3. Various representations received regarding the draft bill 4. On Mar 07, 2020, Circular No. 07/2020 issued along with 55 FAQs […]
