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 ...
DIRECT TAX VIVAD SE VISHWAS BILL, 2020 The Central Government has proposed an amnesty scheme for direct taxes in India. The Finance Minister has proposed the Direct Tax Vivad Se Vishwas Bill, 2020 to reduce the pendency of appeals before the Authorities which as at 30th November, 2019 amounts to Rs. 9.32 lakh crores (equivalent […]
Under Vivad se Vishwas scheme taxpayers are only required to pay amount of disputed taxes and they will get immunity from interest, penalty and prosecution if he pays disputed taxes before 31st March 2020. Those who avail this scheme after 31st March 2020 need to pay extra 10 percent of disputed taxes. This scheme will remain operational till 30th June 2020; however, this date may also be extended by few months (probably up to Sep – Dec 2020).
The government has introduced a bill in Parliament detailing the Direct tax dispute settlement scheme. The Direct Tax Vivad se Vishwas Bill, 2020 for dispute resolution related to direct taxes, proposes less payment or discounted payment for dispute settlement if the tax payer settles before the end of this financial year as compared to if he/she decides […]
It is, therefore, proposed to introduce The Direct Tax Vivad se Vishwas Bill, 2020 for dispute resolution related to direct taxes, which, inter alia, provides for the following, namely: (a) The provisions of the Bill shall be applicable to appeals filed by taxpayers or the Government, which are pending with the Commissioner (Appeals), Income tax Appellate Tribunal, High Court or Supreme Court as on the 31st day of January, 2020 irrespective of whether demand in such cases is pending or has been paid;
As you are aware the Hon’ble Finance Minister in her Budget Speech on lst February 2020 announced a new Scheme namely Vivad se Vishwas’ wherein a taxpayer in whose case appeals are pending at any level may benefit from this scheme.
Hello everyone, hope you all are doing well. This blog focuses on exploring the unknown elements of the Union Budget 2020-21 and analyses impact of proposed changes in Tax on Indian economy. Nirmala Sitharaman (Finance Minister (FM)) played very safely in his debut budget last time and kept distance from crucial issues to serve justice […]
