The Direct Tax Vivad se Vishwas Act, 2020 received the assent of the President on the 17th March, 2020 and is now available for download.
Download The Direct Tax Vivad se Vishwas Act, 2020
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[…] here to download the instructions on filling up the Vivad Se Vishwas Form See also: The Direct Tax Vivad se Vishwas Act, 2020 See also: CBDT Clarifications (FAQs) On The Direct Tax Vivad se Vishwas Bill, 2020 See also: Vivad […]
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[…] here to download The Direct Tax Vivad Se Vishwas Rules, 2020 and Form See also: The Direct Tax Vivad se Vishwas Act, 2020 See also: CBDT Clarifications (FAQs) On The Direct Tax Vivad se Vishwas Bill, 2020 ‹ […]
INSTANT
It is now left to the TAx PUndits to, if so interested, go through the final version of the scheme, as since assented to by the President of INdia ; in order to ascertain and enlighten the concerned, whether or not all or most of the suggestions made have been duly taken care of, so as to serve the underlying objective of mitigating the otherwise inevitable litigation – Agree !
An order is passed on 31.01.2020 imposing penalty of Rs.5.52 lacs u/s 221 fore not depositing self assessment tax in time and was served upon the assessee on the very same day, can the assessee opt for Vivad se Vishwas scheme ?Kindly enlighten. thanks
In aforesaid case what is to be seen is the whether the quantum addition issue status is pending in appellate forum.If yes,VSV to be done of that issue so that automatically the interest and penalty matter is waived of 31/01/2020 matter.
However if the above is STANDALONE ISSUE the VSV can be done on penalty percentage prescribed as time to file appeal as on specified date is not expired.
However the otherway round seems not acceptable that penalty issue VSV and quantum issue kept open.
MAT BE SOME OTHER VIEWS EMERGE AND AWAITED.
SEC 221 orders are appealable. Eligible for VSV. However self asst tax liabities is to be paid.ASSUMED NO SCRUTINY or appeal pending of above matter except the 31/01/2020 order.
THE OTHER VIEW.