| Query | sir can i take any benefit with VSV SCHEME. Pls guide me sir. regards |
| Answer | As we understand from your question, no appeal is filed until date. For eligibility under VSVA, an appeal or deemed appeal is required to be pending on the specified date i.e. Jan 31, 2020. That said, it is advisable to file an Appeal with an application for condonation of delay. The issue of condonation of… (read more) |
Answers to queries on Vivad Se Vishwas Scheme
| Query | On 13th May 2020 the Finance Minister declared that the last date for making payment under the scheme is being extended to 31.12.2020. Please advise as to the last date of filing declaration is also extended or it remains 30th June 2020. Thanks |
| Answer | There is no last date under VSVA as of now. For beneficial payment under VSVA the last date is December 31, 2020 as per Finance Minister’s speech dated May 13, 2020. However, there is no gazette notification or circular for the same. Representation is already made . We hope to receive the clarification at the… (read more) |
| Query | We filled VSVS form, but there was some mistake during filling form. It shows 3 times more the actual demand. We gave got a call from commissioner to refill it. Is there any procedure to correct it? |
| Answer | There may be technical defaults in the system . You may contact the Designated Authority . If no clarification is revived from the Designated Authority within a reasonable time , you may write the Chairman CBDT . In case if you don’t get any response from the CBDT , you may have to file a writ before high Court… (read more) |
| Query | we have received e mail of Signed Form 3 on 3rd June and shall we have to upload Form 4 if their is amount refundable within 15 Days |
| Answer | From what we gather from your query, you have filled form 1 & 2 and the department has issued form 3. Designated authority cannot reject the application without giving an opportunity of being heard . If the application is rejected , the assessee may have to approach high court by filing writ petition. Although there is no… (read more) |
| Query | We have filled Form no 1 and 2 and rece acknowledgment on portal and e mail but now the ITO phoned us to resubmit form 1 and 2 under Vivaad se Vishwas scheme what should we do |
| Answer | Earlier forms are not held to invalid . It is desirable to resubmit the form 1 and 2 , there seems to be some technical error . Natural justice demands that before rejecting the application the designated authority must give an opportunity of hearing . In case the application is rejected without an opportunity of hearing the assessee can… (read more) |
| Query | What is the last date for making an application under the vivad se viswas scheme and what is the last date for making payment. Whether application not filed before 31st march 2020 can he file application for vsv scheme in June 2020… If appeal filed with condonation of delay in June 2020 instead of actual last date of filing appeal on 31st January 2020 …can he file application for vsv scheme as appeal is pending. |
| Answer | There is no last date under VSVA as of now. For beneficial payment under VSV Scheme the last date is December 31, 2020 as per Finance Minister’s speech dated May 13, 2020. However, there is no gazette notification or circular for the same. We are expecting ordinance or Board circular very soon .Please make application for condonation of… (read more) |
| Query | can we withdraw of application under vsva ? if yes,then what is the procedure for that. |
| Answer | If payment is not made after receipt of form 3, it will be assumed that no application under the scheme has ever been made. You may write to the designated authority that your assessee is not interested in availing the benefit of the scheme hence the application may be treated as with drawn . (read more) |
| Query | The VSVS which was extended up to 30.06.2020, however later the FM has announced that the taxpayers can effect payment under the scheme till dec.2020 with out paying any additional interest . However there is no notification about extension of scheme till 31.12.2020. |
| Answer | Yes. You are correct. There is no gazette publication for the same. The official press release of the speech of the FM dated May 13, 2020 is available online. We are hoping that the ordinance or Notification by the CBDT at the earliest . Representation is made to the CBDT . (read more) |
| Query | In a case where Prosecution Complaint under the provisions of Section 276C r.w. 279 of the Income Tax Act has been filed against the assessee in the Competent Court however, till date, no summons/notices/process has been issued by the Magistrate nor the Court Fees has been paid by the Department, Whether mere filing of Complaint in the Court could tantamount to “Institution of Prosecution Proceedings” and if not, Whether the Benefit of the DTVsV could be availed by the assessee?? |
| Answer | Please read question No 22 and answer there in which reads as under “ Where only notice for initiation of prosecution has been issued without prosecution being instituted, the assessee is eligible to file declaration under Vivad se Vishwas. However, where the prosecution has been instituted with respect to an assessment year, the assessee is not eligible to file declaration for that assessment year under Vivad se Vishwas, unless the prosecution is compounded before filing the declaration.” Filing of complain may be treated as “Institution of Prosecution… (read more) |
| Query | We have received Signed form 3 in which their you is refundable amount than what should be filled in form 4 regarding bank details which is compulsory |
| Answer | From what we understand, if money is refundable, no amount has to be put in Form 4, just bank details for receiving the money. You may have to give bank details . However, it is best to clarify your situation with your designated authority. (read more) |