Income Tax : Explore the proposed scheme for resolving unresolved tax demands, easing taxpayer burdens, and improving compliance through fair, ...
CA, CS, CMA : Explore the Vivad Se Vishwas Scheme 2024 for resolving tax disputes, eligibility, payment terms, and deadlines under Circular No. ...
Income Tax : Learn about Direct Tax Vivad Se Vishwas Scheme, 2024, its eligibility criteria, procedure, benefits, ineligible cases, and key fea...
Income Tax : Learn about the Direct Tax Vivad Se Vishwas Scheme, 2024, designed to resolve income tax disputes and reduce litigation costs for ...
Income Tax : The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Se...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Exploring the need for relaxation in Vivad Se Vishwas II Scheme, 2024, addressing issues of pending appeals filed after July 23, 2...
Income Tax : KSCAA raises concerns and provides suggestions for improving the Direct Tax Vivad Se Vishwas Scheme 2024 to the CBDT....
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, ...
Income Tax : Gujarat High Court held that rejection of a Vivad se Vishwas declaration was invalid because final assessment arose from survey pr...
Income Tax : The Delhi High Court held that an assessment order continues to exist even if an interim court order prevents it from being given ...
Income Tax : The Telangana High Court held that although relief under the Vivad Se Vishwas Scheme could not be revived after the scheme expired...
Income Tax : The Calcutta High Court held that the Income Tax Department cannot deny Form 5 under the Vivad Se Vishwas Scheme due to a technica...
Income Tax : The ITAT Mumbai held that settlement under the Direct Tax Vivad Se Vishwas Scheme does not extinguish the legal existence of a rea...
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : CBDT removes anomaly in Vivad se Vishwas Scheme, allowing appeals filed after 22nd July 2024 within the prescribed time to be elig...
Income Tax : CBDT extends the due date for determining payable amounts under the Direct Tax Vivad Se Vishwas Scheme to January 31, 2025....
Income Tax : Circular No. 19/2024 offers clarifications on the eligibility and settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024....
Income Tax : Learn about the eligibility, rates, forms, and timelines under the Direct Tax Vivad se Vishwas Scheme, 2024....
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.
Representation on Widening the scope of Vivad Se Vishwas Scheme by permitting cases in which Prosecution proceedings has been initiated and the tax involved is within Rs. 5 Crore and also raising other practical issues and difficulty in uploading Form 1 where department has filed appeal or may file appeal.
Under the existing provisions of sub-section (2) of section 5 of the Vivad se Vishwas, the declarant is required to pay the amount within a period of 15 days from the date of receipt of certificate from the designated authority.
