| Query | Sir, I have received form 3 in September with net tax liability adjusted with refund adjusted till AY 2019-20. |
| Answer | Please refer question No Circular No. 9 /2020 dt 22 -4 2020 Q.No. 46 . Whether DA can amend his order to rectify any patent errors . Ans . Yes , DA shall be able to amend his order under section 5 to rectify any apparent errors . Please also refer CBDT circular Q. No.… (read more) |
Answers to queries on Vivad Se Vishwas Scheme
| Query | I have applied in vivad se vishwas scheme. My disputed tax is approx 4 lakh the payment has to be done before 30/4/2021 if not then interest will be charged. My problem is if i give half payment of 2lakh before 30/4/21 and half afterwards what will be interest percentage charge and on what amount it will be charge (the remaining amount or on the full disputed tax amount). Can i payment half amount before 30/4/21 and half after the above mentioned date |
| Answer | Please refer Circular No 18 /2020 dt 28 -10 -20220 , circular in respect of payment of tax . As per the Circular the declarant can make the payment without additional amount on or before 31 St March , 2021 ( Now extended up to 30-4-2021 ) Please also refer Circular No 21 /2020 dt… (read more) |
| Query | Assessee filed Form 1 and Form 2, in respect of an appeal before Commissioner of Income-tax (Appeals) claiming refund of Rs.20 (say). The Designated Authority has issued Form 3 determining refund due of Rs.10(say).Before filing the Form 1 and Form 2, the assessee had moved rectification application under section 154 requesting the Assessing Officer to rectify the order passed under section 143(3). The Assessing Officer rejected the rectification application before furnishing his report to the Designated Authority. Designated Authority, while passing Form 3, stated that the Assessing Officer has rejected the rectification application, thus justifying the lower refund of Rs.10. |
| Answer | The Designated Authority is right in determining the refund at Rs 10 . The assessee may have to file an appeal before the CIT(A) against the rectification order rejecting the application passed by the Assessing officer . (read more) |
| Query | By mistake We have paid in excess of tax payable as per Form-3 of Vivad se Vishwas scheme. Can we get refund of excess amount of tax paid after filing of form-4 / |
| Answer | As per explanation to section 7 of VSVA, it is clarified that where the declarant had, before filing the declaration, paid any amount under the Income-tax Act in respect of his tax arrears which exceeds the amount payable under VSVA, he shall be entitled to a refund of such excess amount, but shall not be… (read more) |
| Query | Dear team, is it possible to opt vivad se viswas scheme for a case rejected with CIT (A) appeals |
| Answer | One of the condition is that the pendency of Appeal before the appellate forum as on 31 -1 -2020 or pendency of deemed appeal . Refer Circular No 9 dt 22 -4 -2020 Q .N0 1 and Answer. Please also refer Circular No 21 dt 4 -12-2020 Q. No. 56 and Answer. As per the… (read more) |
| Query | Filed F-1 and 2, received Form-3 but it was not mine but some unknown person. Complained, 1st time, they simply resolved by saying “please look your attached Form-3”. I looked to the form-3 but it was not mine. |
| Answer | Please refer CBDT Circular No. Circular No 9/2020 dt 22-4 -2020 . Q. No 46 and answer , wherein the CBDT has stated that Designated Authority shall able to amend his order under section 5 to rectify any apparent errors. The assessee may write to the Designated Authority . Please refer Circular No 21 /2020… (read more) |
| Query | Returned business loss has been converted to income and set off against brought forward business loss. Similarly addition under the head capital gains set off against brought forward unabsorbed depreciation. If we opt for VSVS , whether tax has to be paid for disputed additions |
| Answer | The assessee has to pay the tax on disputed additions. Please refer Circular No 9/2020 dt 22-4 -2020 Q. No. 53 and Answer given by CBDT wherein it is stated that to carry forward the reduced tax credit or loss or depreciation . CBDT will prescribe the manner of calculation in such cases . (read more) |
| Query | I HAVE RECEIVED FORM 3 IN RESPECT OF FORM 1 AND 2 FILED for APPEALS PENDING RELATING TO PENALTY. |
| Answer | It will be regular assessment tax challan , with minor head 400 . Write properly the PAN NO and Assessment year . There is no separate Challan has been prescribed . (read more) |
| Query | Sir, |
| Answer | Please refer Circular No -21 /2020 dt 4 th December , 2020 Q. No 81 and Answer given by CBDT , it is clarified that the Vivad Se Vishwas is not an amnesty scheme .It provides an option to settle appeals on contentious issues that are neither accepted by the Department nor the Assessee. … (read more) |