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 ...
Cooperative Rabobank U A Vs. CIT (Bombay High Court) Petitioner has fled Form-1 stating that it is eligible for payment of 50% of disputed tax as according to Petitioner the pending appeal is Revenue Appeal, whereas department has treated the same as dispute due to Assessee Appeal, requiring Petitioner to pay 100% of disputed tax. […]
Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme The scheme ‘Vivad Se Vishwas’ is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the Scheme. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary […]
Direct tax collection for the first quarter of the current fiscal has doubled. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.
Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 & 75/2021 dt 25.06.2021 EXTENSION OF TIME LIMITS FOR EASE OF TAX COMPLIANCE Compliances related […]
We humbly make a revenue friendly as well as taxpayers friendly suggestion for extending dates for furnishing belated/ Revised Returns for AY 2020-21.
TAX EXEMPTION Taxpayer Financial help received from employers and well-wishers for meeting expenses incurred for treatment of COVID-19 is exempt from income tax liability in the hands of the taxpayer from Financial Year 2019-2020 onwards. Family of Taxpayer Financial assistance (ex-gratia payment) extended by employers and well-wishers to the family members of the taxpayers who […]
Last date of payment of amount under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June, 2021 is further extended to 31st August, 2021. Last date of payment of amount under Vivad se Vishwas (with additional amount) has been notified as 31st October, 2021. Also Read: CBDT issues Notification extending various […]
Representation for extending various due dates of compliance under the Income Tax Act, 1961/ Payment under Vivad Se Viswas Scheme falling within 30th June, 2021 to 31st August, 2021
Government extends time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, to 30th June, 2021 vide Notification No. 39/2021-Income Tax, Dated: 27th April, 2021. Also Read: Government extends timelines for Income Tax Assessment (Read Notification) MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT […]
Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-
