| Query | My client has opted for Vivad vishwas scheme and have completed all formalities and also obtained Form 3 i.e. A Certificate u/s.5(1) of Direct Tax VIVAD VISHWAS ACT,2020. Even then, Show cause notice for penalty U/s. 271(1)(c) seved on him |
| Answer | The show cause notice is bad in law after receipt of certificate . The assessee may write to the Assessing officer to drop the penalty proceedings as the issue is settled under VsV. Please refer Circular No 9/2020 dt 22 -4 -20200, Q. No. 45 and answer , it is specifically stated that As per section 6 subject to the provisions of section 5 , the DA shall not institute any proceedings in respect of an offence , or impose or levy any penalty ; or charge any interest under the Income -tax Act in respect of tax arrears. This shall be reiterated in the order under section 5 (2) passed by DA . |
| Query | We filed an appeal against Penalty. We now received form 3 also. While making the payment, are we required to pay the as Penalty or Income Tax |
| Answer | The assessee has to refer as penalty. 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 . |
| Query | in what type of challan i have to pay the tax |
| 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 .
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| Query | Hi sir, Could you please advise that is there any timeline to issue redund amount mentioned on form 5. How soon i can get refund post receiving form 5. Regards, |
| Answer | There is no time limit is prescribed however the assessee should get with in reasonable time . The assessee may write to the Designated Authority to grant the refund with in fifteen days . If no response is received the assessee may write to the Chairman CBDT . Finally if no response is received the assessee may file writ before High Court . |
| Query | I HAVE SUBMITTED FORM 1 AND 2 WITH CORRECT DETAILS OF TAX ARREAR AND AMOUNT PAYBLE UNDER VIVAD SE VISWAS. BUT IN THE FORM 3 ISSUED BY DEPARTMENT INCORRECT FIGURES OF TAX ARREA AND TAX AMOUNT IS determined. TAX ARREAR IS LOWER THAN WHAT WAS SHOWN BY US AND TAX payable IS INCREASED BY INCLUDING THE SELF ASSESSMENT TAX WHICH HAS ALREADY BEEN PAID. HOW TO GET IT CORRECTED. |
| Answer | The assesee may submit the rectification application before Designated Authority . The Designated Authority has power to rectify the form .3. The assessee may approach the Designated Authority . |
| Query | How long does it take to department to issue form 5 of vsv |
| Answer | The assessee may write to the Designated Authority . In case no reply is received the assessee may write to the Chairman CBDT .We hope the assessee may receive the Form 5 on or before 15th May 2021 . |
| Query | Sir, |
| Answer | Please write to the Designated Authority .If no response is received the assessee may write to the Chairman CBDT . We hope the Designated Authority will be able to do the needful at the earliest .
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| Query | I have paid the settlement tax under VSVS and provided details along with VSVS Form 4. My final order (Form 5) is pending. |
| Answer | . Please write to the Designated Authority for granting the refund due to you and pass the rectification order. The Designated Authority has power to rectify the form .3. .If you does not get any response from the Designated Authority , within reasonable time ,you may write to the Chairman CBDT Shri Pramod Chandra Mody e mail is , chairmanabcbdt@nic.in . In case if you does not get any response from the Chairman CBDT , you may file Writ before the High Court.
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| Query | I have filed form 1 & 2, in Month of December 2020, but till now form 3 hasn’t been issued. I beginning of this month have approached PCIT to enquire reasons for same. He just noted down the PAN number and asked me to leave immediately stating that he is very busy and he will issue form 3. But till now he hasn’t issued form 3 and nor communicating anything why has he kept it on hold. So , kindly suggest what action to be taken from my end and is there anyone with whom i could complaint of same. |
| Answer | Please write to the Designated Authority . If the assessee does not get any response within reasonable time from the Designated Authority , you may you may write to the Chairman CBDT Shri Pramod Chandra Mody e mail is , chairmanabcbdt@nic.in . In case if you does not get any response from the Chairman CBDT , you may file Writ before the High Court. Form No 3 can be issued after 30-4 -2021 .
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| Query | I HAVE PAID SETTLEMENT TAX IN ASSESSMENT YEAR 2020-2021 FOR DTVSV INSTEAD OF A.Y. 2011-2012. ARE THIS OK OR NOT???? |
| Answer | It is fine , provided assessment year is correctly mentioned in the challan . |