|Question And Answer
|MANOJ KUMAR MITTAL
|adjustment of cash seized, Direct Tax Vivad se Viswas Act, DTVSVS, Vivad se Vishawas Scheme
|December 22, 2021
FORM 3 ISSUED. HAVING BALANCE IN PD ACCOUNT WITH THE INCOME TAX DEPARTMENT DUE TO CASH SEIZED AND ASSESSMENT MADE. CAN I PAY FROM PD ACCOUNT UNDER DTVSVS.
The asseessee can write to the Designated Authority to adjust the cash seized . The assessee has to follow the procedure prescribed under section 132B of the Act. If there is no existing liability the Designated Authority can adjust the cash seized against the liability