In one of my clients case assessment was u/s 143(3) was completed and demand was createda sunder :
Gross tax — 5,53,342
Education Cess — 16,600
Net tax — 5,69,942
Interest u/s 234 A — 33,848
Interest u/s 234 B — 97779
Gross Demand — 7,01,569

Less : Taxes Paid
TDS/TCS — 46,867
Advance Tax — 1,00,000

Final Details :

Total tax and
Interest payable — 5,54,702

The Disputed Tax
as per Taxpayer in
Form No.1 has been
shown amounting to Rs. 5,54,702
but the Designated Authority has taken it Rs. 7,01,569/-

QUESTION :
What will be the amount of disputed Tax ??

I filed form 1&2 then revised the same once. Now Department issued form 3. demand under form 3 was determined wrongly. how can i revised or rectify the same?

Initially I received an intimation under section 143(1).In the intimation there an amount of 2,00,000/- higher than the returned income and there was an interest under section 234B and 234C in the said intimation. Later information sought by the department has been submitted and an assessment under section 143(3) has been completed. The learned AO completed the assessment without making any additions and accepted my original returned income. After an assessment, the computation is done without deleting the interest under section 234C but 234B interest deleted. The same interest mentioned in 143(1)(a) intimation carried even after assessment also. Kindly tell us possible reasons for non waiving of 234C interest.

Can form 5 issued
Be canceled by income tax authorities and re issue form 3

IN OUR CASE AN ORDER IS PASSED U/S. 201(1) DETERMINING AN AMOUNT OF RS. 2,05,00,000/- ON WHICH TAX SHOULD BE DEDUCTIBLE U/S. 195 OF THE ACT. WE HAVE FILED A RECTIFICATION APPLICATION WITH NECESSARY EVIDENCE BEFORE AO POINTING OUT MISTAKE IN THE FIGURE ADOPTED BY THEM AND IN ALTERNAE ALSO REQUESTED TO PROVIDE THE DOCUMENTS BASED ON WHICH SUCH FIGURE ARE WORKED OUT. IN THE MEAN TIME ALSO FILED FORM NO. 1 UNDER THE SCHEME. AO HAS REJECTED OUR APPLICATION WITHOUT ANY BASE AND ALSO NOT PROVIDED THE DOCUMENTS BASED ON WHICH FIGURE OF RS. 2,05,00,000/- IS ARRIVED. CAN WE CHALLANGE THE REJECTION ORDER FOR RECTIFICATION BEFORE CIT (A) AND ALSO OPT FOR VSV SCHEME. IF LATER ON CIT(A) HELD IN OUR FAVOUR FOR 154 REJECTION AND WE PAY THE AMOUNT AS DETERMINED BY DA WITHOUT CONSIDERING OUR RECTIFICATION THEN WHETHER SUCH EXCEES AMOUNT WILL BE REFUDABLE TO US?

I have submitted form 1 and 2 for three assesment years.i received form 3 for only one year.rest two years not received …what to do

Thanks for answer given by your goodself to my query regarding applicability of this scheme where petition u/s 264 has been filed. I understand that the case is covered for filing declaration under the scheme. But the Designated Authority has rejected my declaration with the following reasons:
“The assessee has filed declaration on disputed tax determined u/s 143(3) r.w.s 147 wherein only Rs.515/- was added to the returned income, the assessee is in revision u/s 264 and has disputed the entire income assessed u/s 143(3) which included included returned income of Rs.687490/-. Since the declaration is factually incorrect, the same is being rejected.”

As already brought to you in my query, I have filed revision petition on the issue of income wrongly declared in the ITR on account of long term capital gain as the land sold was not a capital asset and only 50% share of sale consideration belong to assessee. The returned income was declared wrongly by the tax professional. In view of these facts, pl. guide whether the decision of the designated authority is as per Law. If not which remedy should be taken to avail the benefit of this scheme. THANKS FOR HOPING FOR EARLY REPLY.

Thanks for answer given by your goodself to my query regarding applicability of this scheme where petition u/s 264 has been filed. I understand that the case is covered for filing declaration under the scheme. But the Designated Authority has rejected my declaration with the following reasons:
“The assessee has filed declaration on disputed tax determined u/s 143(3) r.w.s 147 wherein only Rs.515/- was added to the returned income, the assessee is in revision u/s 264 and has disputed the entire income assessed u/s 143(3) which included included returned income of Rs.687490/-. Since the declaration is factually incorrect, the same is being rejected.”

As already brought to you in my query, I have filed revision petition on the issue of income wrongly declared in the ITR on account of long term capital gain as the land sold was not a capital asset and only 50% share of sale consideration belong to assessee. The returned income was declared wrongly by the tax professional. In view of these facts, pl. guide whether the decision of the designated authority is as per Law. If not which remedy should be taken to avail the benefit of this scheme. THANKS FOR HOPING FOR EARLY REPLY.

Dear Sir/Ma’am,

In my case, appeal is pending before ITAT & I have made declaration under Vivadh Se Vishwas Act, 2020 computing 25% of disputed tax payable but as per form 3 received from department, there is mismatch of tax amount payable as relief given by CIT(A) is not considered. And also for filing form 4, proof of withdrawal of appeal is required- how do I file it? Please provide the solution that in such case, what should be done.

Kindly do the needful.

I have applied in vivad se vishwas scheme. My penalty amount is approx 3cr the payment has to be done before 31/3/2021 if not then interest will be charged. My problem is if i give half payment of 1.5cr before 31/3/21 and half afterwards what will be interest percentage charge and on what amount it will be charge (the remaining amount or on the full penalty amount). Can i payment half amount before 31/3/21 and half after the above mentioned date