| Query | We use the correct information of challan deposited but showing as mismatch in Form-3. Please suggest the needful while filling form -4. |
| Answer | The assessee has two options , either make a rectification application before the Designated Authority to rectify the mistake or file a revised form with correct information . Please also refer Circular No 21 / 2020 dt 4 -1-2020 , Q. No 89 Once declaration is filed by assessee u/s 4 of Vivad Se Viswas… (read more) |
Answers to queries on Vivad Se Vishwas Scheme
| Query | In our case, since we have already deposited much higher amount than liability, we want to claim refund of the net amount.Whether this is possible under VSV scheme? |
| Answer | VSVS is for settling the disputes which are pending before the Competent Authority . Once the appeal is settled the assessee entitle to get the refund , if it due as per the provisions of the Act. The Assessee may have to follow due process of law for getting the refund . The assessee has… (read more) |
| Query | Say for AY 13-14, Assessee has a refund of Rs 100/- under 143(1) which is reduced in assessment order under 143(3) to refund of Rs 30/- as demand of Rs 70/- raised is adjusted. The refund amount has not been received by the assessee till date. |
| Answer | Please refer Q.No 79 and Ans . If prepaid tax being TDS /TCS is clearly identified with the source of Income , it will be adjusted against tax liability with respect to such income . Rest of the prepaid tax which cannot be clearly identified with the source of income , will be apportioned against… (read more) |
| Query | Dear Sir, |
| Answer | Yes you can mention the dept is bound to give the credit for the said payment . Please refer Circular No. 9 /2020 dt 22 -4 2020 Q.No 29 and answer where in it is clarified that taxes paid against the disputed tax before filing declaration shall be available to the declarant . (read more) |
| Query | At the time of survey, based on xerox of purchase |
| Answer | The assessee can avail the benefit of the VSV Scheme. The tax has to be determined on the basis amount disputed in appeal . (read more) |
| Query | Challan serial no was wrongly typed for prepaid taxes against total liability in submitted Form 1 & Form 2 under VSV scheme which came to know later after issuance Form 3 by designated authority. Form 3 issued with total liability ignoring prepaid liability with remark challan status mismatch. VSV scheme faq states that Form 1 & 2 can be revsied many time before form 3 issuance by designated authority. Please advice how to rectify this error of wrong challan serial no. |
| Answer | Yes the assessee can revise the form . Please also refer Circular No 21 / 2020 dt 4 -1-2020 , Q. No 89 Once declaration is filed by assessee u/s 4 of Vivad Se Viswas can the same be revised ? If yes , at what stage of the proceedings will the same be allowed… (read more) |
| Query | Whether Power of Attorney can act as assessee of Original Assessee in vived se viswas scheme |
| Answer | As per the Direct Tax Vivad Se Viswas Rules , 2020 Rule 3 (3) , the declaration and verification shall be signed by the declarant or any person competent to verify the return of income on his behalf in accordance with section 140 of the Income -tax Act , 1961 The Form has to be… (read more) |
| Query | What should be done if Form No.3 not received after 21 days of E. filing Form 1 and 2 ? |
| Answer | It may be delayed to technical reasons . The same will be issued in due course of time . Due to non receipt of forms from the revenue the application will not be rejected . (read more) |
| Query | I have made payment after receiving form 3. Received challan. But unable to withdraw Appeal under this faceless procedure. Please guide. |
| Answer | Please refer Circular No. 9 /2020 dt 22 -4 2020 Q N0 . 43 and Ans : Under the amended procedure no appeal is required to be withdrawn before the grant of certificate by DA. . After the grant of certificate by DA under section 5 , the appellant is required to withdraw appeal or… (read more) |