Re: penalty on 234E fees

whether penalty leived on 234E fees is fully waived off under scheme or 25% is to be paid?

Section 2(1)(o) of the VSVA defines “tax arrear” as under; (o) “tax arrear” means,—

(i) the aggregate amount of disputed tax, interest chargeable or charged on such disputed tax, and penalty leviable or levied on such disputed tax; or
(ii) disputed interest; or

(iii) disputed penalty; or

(iv) disputed fee,
as determined under the provisions of the Income-tax Act.

Accordingly section 234E is also covered under the scheme .

 

 

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