Download The Direct Tax Vivad se Vishwas Bill, 2020

The Direct Tax Vivad se Vishwas Bill, 2020 is proposed to be introduced for dispute resolution related to direct taxes. It inter alia, provides for the following, namely:—

(a) The provisions of the Bill shall be applicable to appeals filed by taxpayers or the Government, which are pending with the Commissioner (Appeals), Income tax Appellate Tribunal, High Court or Supreme Court as on the 31st day of January, 2020 irrespective of whether demand in such cases is pending or has been paid;

(b) the pending appeal may be against disputed tax, interest or penalty in relation to an assessment or reassessment order or against disputed interest, disputed fees where there is no disputed tax. Further, the appeal may also be against the tax determined on defaults in respect of tax deducted at source or tax collected at source;

(c) in appeals related to disputed tax, the declarant shall only pay the whole of the disputed tax if the payment is made before the 31st day of March, 2020 and for the payments made after the 31st day of March, 2020 but on or before the date notified by Central Government, the amount payable shall be increased by 10 per cent. of disputed tax;

(d) in appeals related to disputed penalty, disputed interest or disputed fee, the amount payable by the declarant shall be 25 per cent. of the disputed penalty, disputed interest or disputed fee, as the case may be, if the payment is made on or before the 31st day of March, 2020. If payment is made after the 31st day of March, 2020 but on or before the date notified by Central Government, the amount payable shall be increased to 30 per cent. of the disputed penalty, disputed interest or disputed fee, as the case may be.

4. The proposed Bill shall come into force on the date it receives the assent of the President and declaration may be made thereafter up to the date to be notified by the Government.





7 comments on “Download The Direct Tax Vivad se Vishwas Bill, 2020
  1. M.gopal says:

    the declaration form section 4 of the bill is not notified. please highlight the declaration form

  2. .v.c.parwatagoudra chartered Accountant says:

    section 115BBE was amended and published in Gazette on 15th dec 2016. As a result in survey cases tax rate is 60% plus 15@ plus educations cess. Before that amendment tax rate was 30%.
    The Appeal is for rate of tax. the amended ratae should be prospective for AY2018-19.
    WHETHER this is covered under vivad se vishwas Bill ?

  3. KEEN OBSERVER says:

    The notified new APPOINTMENTS TO TRIBUNALS rules on 12/02/2020 seems determined move of GOVT.The govt seems determined to reduce litigations. THE MOST IMP IS THE MEMBERS IN ITAT TENURE REDUCED TO FOUR YEARS AGAIN AND EXPERIENCE OF ADVOCATES AND CA INCREASED TO 25 YEARS.
    THUS NEW MEMBERS UNDER NEW RULES WOULD BE AGED 50 PLUS AT LEAST.THE REVENUE SECRETARY IS ALSO IN PANEL OF INTERVIEW.
    IT SEEMS COMING FEW YEARS GOVT FEELS LITIGATION WOULD COME DOWN TO A QUARTER AS FAR AS INCOMETAX IS CONCERNED.

  4. CA S. K. BHARTI says:

    Question of Implementation and exercising of Direct Tax Vivad se Vishwas Scheme
    Fact: Penalty u/s 271(1)C for A.Y. 2011-12 was imposed in June 2019 and the assesse has filed a valid appeal before the CIT(A). A mistake apparent from record was found in calculating the penalty of 100% of tax avoided and the assesse has filed petition u/s 154/155 for reduction of penalty from Rs. 16,01,084 to Rs. 8,00,542 because the 30% rate was adopted on short term capital gain instead of applicable rate of 15%. The rectification has been done on 10.02.2020 and penalty reduced to Rs. 8,00,542.
    Question: The penalty which is pending before the CIT(A) has been rectified u/s 154/155 on 10.02.2020 against petition u/s 154/155 dated 03.01.2020. Penalty has been reduced from Rs. 16,01,084 to Rs. 8,00,542. As on 31.01.2020 the disputed penalty amount was Rs. 16,01,084 on which amount i.e. whether Rs. 16,01,084 or Rs. 8,00,542 the 25% amount is payable?
    CA S.K. BHARTI

    • Deepak Jain says:

      What i got from your query that appeal is still pending and an interim relief u/s 154/155 has been obtained post 31.01.2020. In my view the disputed penalty will be Rs.800542/-.
      we may refer to definition of dispute penalty it says

      “disputed penalty” means the penalty determined in any case under the provisions of the Income-tax Act, 1961, where—
      (i) such penalty is not levied or leviable in respect of disputed income or
      disputed tax, as the case may be;
      (ii) an appeal has been filed by the appellant in respect of such penalty;

      Firstly here the penalty should be as calculated in accordance with the provisions of act. what is actual amount of penalty that is only being calculated according to the provisions of the act and not the wrong amount.
      secondly the appeal has to be filed in respect of such penalty and not in respect of amount of such penalty.

      Hence in my considered view the disputed penalty must be the correct amount of penalty calculated.

  5. Paarth says:

    The Government should now introduce the Voluntary Disclosure of Income Scheme to find out the extent of black money still available despite demonetization.

6 Pings/Trackbacks for "Download The Direct Tax Vivad se Vishwas Bill, 2020"
  1. […] The Direct tax Vivad se Vishwas Bill, 2020 (‘Scheme’) (2020) 420 ITR 146 (St) Para 126,was incepted at para 126 of the 2020 Budget Speech. The name of the scheme literally means, from litigation to faith, thereby expressing the intentions of the current administration to amicably settle disputes pending before any forum and improve the faith of the people in the Nation. […]

  2. […] DTVSV, 2020, Finance Bill, 2020 (2020) 420 ITR 146 (St) Para 126. No dispute but Trust Scheme – “Vivad Se Vishwas” Scheme […]

  3. […] arisen in the minds of taxpayers and tax professionals with regard to the interpretation of the Vivad Se Vishwas scheme. The learned authors have drawn on their experience and offered workable solutions to several […]

  4. […] CBDT has sent a clear message to the Principal Commissioners and their subordinates that the “Vivad se Vishwas” scheme should not be treated in a casual manner by them but that they have to make efforts […]

  5. […] Nidhi Surana Jain has explained the provisions of the newly introduced “Vivad se Vishwas” scheme with special reference to sections 270A and 270AA of the Income-tax Act, 1961. She […]

  6. […] Ashish Chadha has conducted an expert analysis of the The Direct Tax Vivad se Vishwas Bill, 2020 and explained all of its salient features. He has also highlighted potential controversial issues […]

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