Re: Impact on capital amount in the file

Sir,
I had a demand from government and have settled it under vivaad se vishwas. I have paid government the demand of 3 lakhs.so,will my capital account now be increased by around 10 lakhs,as I have paid government tax for the unaccounted capital. If yes,how will it be done?

Please refer Circular No -21 /2020 dt 4 th December , 2020  Q. No          81 and Answer given by  CBDT , it is clarified that the Vivad Se Vishwas is not an amnesty scheme  .It provides an option to settle appeals on contentious issues that are neither accepted by the Department nor the Assessee.  The asssessee cannot capitalise the amount  in the books of account .  

 

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