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 ...
INTRODUCTION The Finance Minister Ms. Nirmala Sitharaman during her maiden budget, presented on 1st February, 2020, declared an amnesty scheme namely ‘Vivad Se Vishwas – A Dispute Resolution Scheme 2020′ (hereinafter referred to as “the Proposed Scheme”). The Proposed Scheme aims to settle the unresolved issues pertaining to Direct Tax regime, i.e. Income Tax Act, […]
The performance of officers in respect of `Vivad Se Vishwas Scheme’ will be specifically commented upon by the Reporting and the Reviewing officers and shall be an important factor in determining their future postings.
In the statement of objects and reasons in introducing the Direct Tax Vivad se Vishwas Act, 2020, the FM said that over the years, the pendency of appeals filed by taxpayers as well as Government has increased due to the fact that the number of appeals that are filed is much higher than the number of appeals that are disposed.
Vivaad se Vishwas Scheme, 2020 Litigation in the country has always been an area of concern. In past there has been tremendous increase in the number of the appeals pending before various appellate forums like Income-tax Appellate Tribunal, High Courts and Supreme Court. Litigation takes undue time, resources and efforts of parties and in many […]
In line to Indirect tax amnesty scheme namely ‘Sabka Vishwas’ the Central Govt, has proposed direct tax amnesty scheme namely ‘Vivad Se Vishwas’ through Union Budget 2020. This amnesty scheme has also been introduced with the intent to reduce pending litigation in various appellate authorities and help Government in quick collection of the revenue. Various […]
What is Vivad se Vishwas scheme? The Direct Tax Vivad Se Vishwas Bill, 2020 tabled on lok sabha on Wednesday is introduced to provide complete waiver of interest and penalty to the taxpayers whose liabilities are in dispute.
VIVAD SE VISHWAS scheme Bill, 2020 was introduced to provide for resolution of disputed tax and for matters connected therewith or incidental thereto. Article 19 of Indian Constitution provides freedom of Speech and Expression, every citizen of India has given right to raise his voice and express his views, as the old quote says “Individuals […]
Q.1 Who are going to be benefitted from this scheme? Ans. Every person, to whom demand is raised and who has filed the appeal before the CIT(A), High Court or Supreme Court and such appeal is pending on 31st Jan 2020. Q.2 When is this scheme going to be implemented and what is the last […]
1. What is the objective of the Vivad se Vishwas scheme? Ans: To provide for a one-time settlement scheme for resolution of disputed tax and for matters connected therewith or incidental thereto. 2. Who can avail the Vivad se Vishwas scheme? Ans: An Assessee whose appeal, whether filed by the Assessee or the Dept or both, […]
In Union Budget 2020, our finance minister introduced amnesty scheme for disposal of appeal pending in direct tax matters. The bill has been named “The Direct Tax Vivad se Vishwas Bill, 2020”. The bill has been presented in Lok Sabha on 5th February, 2020 and shall come in to force once it gets approved by […]
