Re: Shardul Patel

Are we eligible to claim refund under vivad se wishwas scheme?

Eg.
Demand order under dispute at appellate tribunal (tax Rs. 700 + interest Rs. 300) = Rs. 1000

Payment made towards demand Rs. 850

In above case, can we get refund of Rs. 150 ( payment 850 less tax demand Rs.700).

Please let me know your opinion on above.

Yes, according to explanation to section 7 of VSVA, it is clarified that where the declarant had, before filing the declaration, paid any amount under the Income-tax Act in respect of his tax arrears which exceeds the amount payable under VSVA, he shall be entitled to a refund of such excess amount, but shall not be entitled to interest on such excess amount.

 

---