Re: Opt out / withdraw from VSV scheme

Can i opt out / withdraw from VSV scheme after issuance of certificate / order in form 3 ? OR have to pay tax as per form 3 compulsorily ?

The querist can opt out, however if taxes under the Vsv Act the assessee will not get the  refund.    Please refer  circular No . 9 /2020 dt 22-4 -2020--Q, No . 42 and answer   given by the CBDT,    which state that any amount paid in pursuance of a declaration made under the Vivad Se Vishawas shall not be refundable under any circumstances .

 

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