Vivad Se Vishwas Scheme: FAQs for settling tax disputes easily
3 days, 5 hours ago

Vivad Se Vishwas Scheme: FAQs for settling tax disputes easily

India Today  

In a bid to bring relief to taxpayers, the Direct Tax Vivad Se Vishwas Scheme 2024, introduced in Budget 2024, offers a simplified route to resolve income tax disputes. Is an appeal filed against intimation under section 143 of the Act and pending as of July 22, 2024, eligible for the DTVSV Scheme 2024? Can the DTVSV Scheme 2024 be availed in cases where proceedings are pending before the Income Tax Settlement Commission or where a writ has been filed against an order of the ITSC? The Direct Tax Vivad Se Vishwas Scheme 2024 offers a unique opportunity for taxpayers to settle their pending income tax disputes in a streamlined manner, helping to reduce litigation and providing financial relief.

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History of this topic

Vivad Se Vishwas Scheme 2024: What is it and how to avail it?
10 hours, 45 minutes ago

Vivad Se Vishwas Scheme 2024: What is it and how to avail it?

India Today  

The Vivad Se Vishwas Scheme 2024, introduced in Budget 2024, provides taxpayers with an opportunity to settle pending disputes with the Income Tax Department. By paying the disputed tax amount along with a specified percentage, taxpayers can resolve disputes and avoid penalties and interest. ELIGIBILITY FOR THE SCHEME Taxpayers eligible for this scheme include: Those with pending appeals, writ petitions, …

Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court
1 week, 2 days ago

Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court

Live Law  

The Allahabad High Court has held that an assesse claiming refund of excess TDS is not required to fill Form 26B under the Income Tax Rules once Form 5 of the Vivad Se Vishwas Act, 2020 has been issued to them. Subsequently, petitioner withdrew the Income Tax Appeal and the respondent issued an order for final settlement of Tax under …

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC
Trending News
1 week, 3 days ago

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Live Law  

The Delhi High Court has held that under the Direct Tax Vivad Se Vishwas Act, 2020, an Assessee is entitled to confine the settlement of disputes which were subject matter of its appeal, and exclude the disputes which were subject matter of the Revenue's appeal for the same assessment year. It thus allowed a real estate company's plea against the …

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court
3 weeks, 6 days ago

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

Live Law  

The Delhi High Court has held that a review petition, against the orders passed in SLP by the Supreme Court, is “Disputed Tax” under Section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 and the review petitioner would be eligible to take benefit of “Vivad Se Vishwas Scheme”. Section 2 defines disputed tax in relation to Appeal, Writ …

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court
3 weeks, 6 days ago

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

Live Law  

The Delhi High Court has held that a review petition, against the orders passed in SLP by the Supreme Court, is “Disputed Tax” under Section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 and the review petitioner would be eligible to take benefit of “Vivad Se Vishwas Scheme”. Section 2 defines disputed tax in relation to Appeal, Writ …

Direct Tax Vivad Se Vishwas scheme, 2024 to come to force from 1 October
3 months ago

Direct Tax Vivad Se Vishwas scheme, 2024 to come to force from 1 October

Live Mint  

New Delhi: The Union government on Friday said the second edition of the Direct Tax Vivad Se Vishwas Scheme 2024, which will help reduce litigation and bring certainty for taxpayers, will become operational from 1 October. {{^adFree}} {{/adFree}} "In exercise of the powers conferred by sub-section of section 88 of the Finance Act, 2024, the Central Government hereby appoints the …

Direct Tax Vivaad Se Vishwas Act | Out-Of-Court Settlement Not Litigant's Fundamental Right, Can Be Availed Only As Per Law: Allahabad HC
1 year ago

Direct Tax Vivaad Se Vishwas Act | Out-Of-Court Settlement Not Litigant's Fundamental Right, Can Be Availed Only As Per Law: Allahabad HC

Live Law  

While dealing with a rejection order under the Direct Tax Vivaad Se Vishwas Act, 2020, the Allahabad High Court has held that a litigant does not have a fundamental or inherent right to claim settlement of dispute outside court. The bench comprising of Justice Saumitra Dayal Singh and Justice Shiv Shanker Prasad opined, “In the first place, settlement of disputes …

Direct Tax Vivad Se Vishwas Act| Delay Can Be Condoned In Unforeseen Circumstances: Allahabad High Court
1 year, 4 months ago

Direct Tax Vivad Se Vishwas Act| Delay Can Be Condoned In Unforeseen Circumstances: Allahabad High Court

Live Law  

The Allahabad High Court, on Friday, allowed petitioner to avail benefits under Direct Tax Vivad Se Vishwas Act, 2020 despite a delay of 3 days in filing application under the Act. The Parliament enacted the Direct Tax Vivad Se Vishwas Act, 2020 for the resolution of disputed tax to relieve the taxpayers from paying interest and penalty on the escaped …

Taxpayers Filing Declaration Under SVLDR Scheme Can’t Quantify The Duty Under Indirect Taxes: Delhi High Court
1 year, 6 months ago

Taxpayers Filing Declaration Under SVLDR Scheme Can’t Quantify The Duty Under Indirect Taxes: Delhi High Court

Live Law  

The Delhi High Court has held that taxpayers filing declarations under the Sabka Vishwas Scheme Rules, 2019 cannot quantify the duty under indirect taxes.The bench of Justice Yashwant Varma and Justice Dharmesh Sharma has observed that in terms of Section 121 of the Finance Act, 2019, the word "quantified" means a written communication of the. The Delhi High Court has …

Budget 2023: Income Tax Relief Measures That Corporates, Individuals Expect
1 year, 11 months ago

Budget 2023: Income Tax Relief Measures That Corporates, Individuals Expect

News 18  

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2023-24 on February 1, 2023, expectations abound, especially as this will be the last budget before the 2024 general elections. Corporate Expectations Tax Deduction at Source 1) Benefits or perquisites Many interpretational issues have emerged on TDS provisions on benefits or perquisite since their introduction in the Finance Act …

Appeal By Assessee Prior To Declaration Under VSVS Act, Shall Revive On Failure To Pay the Tax Determined: ITAT
2 years, 1 month ago

Appeal By Assessee Prior To Declaration Under VSVS Act, Shall Revive On Failure To Pay the Tax Determined: ITAT

Live Law  

The Chennai bench of the Income Tax Appellate Tribunal has ruled that if the assessee violates the conditions prescribed under the Direct Tax Vivad Se Vishwas Act, 2020 by not paying the tax determined by the designated authority, the appeal filed by it prior to filing a declaration under the DTVSVS Act, disputing the tax liability raised against it, shall …

Admission of Appeals As A Condition Precedent To Be Eligible For Settlement Under Vivad Se Vishwas Scheme Is Contrary To Law: Delhi High Court
2 years, 1 month ago

Admission of Appeals As A Condition Precedent To Be Eligible For Settlement Under Vivad Se Vishwas Scheme Is Contrary To Law: Delhi High Court

Live Law  

The Delhi High Court has ruled that the Central Board of Direct Taxes FAQ No. 59 of Circular No.21/2020 dated December 4, 2020, which contemplates admission of appeal before the filing of declaration as a condition precedent for the appeal to be treated as pending and eligible for settlement under the Vivad Se Vishwas Scheme is contrary to law.The division …

Payment deadline under tax dispute scheme extended
3 years, 3 months ago

Payment deadline under tax dispute scheme extended

Hindustan Times  

The government has extended the last date for payment of amount under the direct tax amnesty scheme ‘Vivad se Vishwas’ without any additional charge by one month to September 30, 2021 due to technical reasons, the Central Board of Direct Taxes said in a statement on Saturday. The Vivad se Vishwas scheme provides for settlement of disputed tax, disputed interest, …

Income Tax Return or ITR for FY20 Can Be Filed Till May 31. Know Details
3 years, 7 months ago

Income Tax Return or ITR for FY20 Can Be Filed Till May 31. Know Details

News 18  

In the wake of severe Covid-19 pandemic, the Central Board of Direct Taxes has decided to extend timelines of various tax compliance dates on Saturday. “In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that …

Coronavirus | Tax compliance timelines extended from April 30 to June 30
3 years, 7 months ago

Coronavirus | Tax compliance timelines extended from April 30 to June 30

The Hindu  

The Finance Ministry has extended the timelines for compliances under income tax laws from April 30 to June 30 citing pandemic and lockdowns. “To provide further relief and stimulus to the struggling industry and in keeping with the reality of reducing businesses and incomes, the government should consider reducing the TDS rates for this year also or at least for …

Financial Tasks You Need to Complete Before March 31, Details Here
3 years, 8 months ago

Financial Tasks You Need to Complete Before March 31, Details Here

News 18  

Dealing with the ongoing Covid-19 pandemic and its consequences would most probably be the top priority for you. Filing revised ITR The Central government has also given time until March 31, 2021 for filing the revised or delayed income tax return for FY 2019-20. LTC Cash Voucher Scheme Central government employees need to submit their Leave Travel Concession Cash Voucher …

Deadlines extended for declaration under Vivad Se Vishwas scheme: All you need to know
3 years, 11 months ago

Deadlines extended for declaration under Vivad Se Vishwas scheme: All you need to know

India Today  

The government again extended the deadline for settling tax disputes under the Vivad se Vishwas scheme without paying any interest and penalty by the month to January 31, 2021, from December 31, 2020. The government has extended various tax compliance deadlines, including Income Tax Returns, tax audit reports, and declaration under 'Vivad Se Vishwas Scheme, in view of the challenges …

Income Tax Returns Deadline For Various Categories Extended
3 years, 11 months ago

Income Tax Returns Deadline For Various Categories Extended

Live Law  

The Ministry of Finance on Wednesday announced that it has extended the due date for filing of income tax returns for the financial year 2019-2020 in the manner as follows: The due date for furnishing of Income Tax Returns for the other taxpayers has been extended to 10 th January, 2021. The due date for furnishing of Income Tax Returns …

Vivad Se Vishwas Scheme Garners Rs 72,480 Crore Tax to Govt So Far
4 years, 1 month ago

Vivad Se Vishwas Scheme Garners Rs 72,480 Crore Tax to Govt So Far

News 18  

The government has garnered Rs 72,480 crore so far through the direct tax dispute resolution scheme Vivad Se Vishwas, sources said. The government had last month extended for the third time the deadline for making payment under the Vivad Se Vishwas scheme by three months to March 31, 2021 in view of the ongoing pandemic. The Direct Tax Vivad se …

Declarants Under Vivad Se Vishwas Scheme Have Time Till March 31 to Make Payment
4 years, 1 month ago

Declarants Under Vivad Se Vishwas Scheme Have Time Till March 31 to Make Payment

News 18  

The Income Tax Department on Wednesday said taxpayers making declarations under direct tax dispute resolution scheme 'Vivad Se Vishwas' will have time till March 31 to make payment. "It is hereby clarified that where a declarant files a declaration under Vivad se Vishwas on or before 31st December, 2020, the designated authority, while issuing the certificate under sub-section of section …

Govt Garners Rs 9,538 Crore from Direct Tax Dispute Resolution Scheme So Far
4 years, 3 months ago

Govt Garners Rs 9,538 Crore from Direct Tax Dispute Resolution Scheme So Far

News 18  

The government has collected Rs 9,538 crore revenue from the Direct Tax Vivad Se Vishwas scheme, Parliament was informed on Sunday. Minister of State for Finance Anurag Singh Thakur said as many as 35,074 declarations have been filed under the Direct Tax Vivad Se Vishwas scheme till September 8, 2020. Finance Minister Nirmala Sitharaman had proposed the direct tax dispute …

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen
4 years, 4 months ago

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen

The Hindu  

With tepid collections proving to be a challenge in meeting tax revenue goals, CBDT Chairman P.C. In a letter to Principal Chief Commissioners of Income Tax, Mr. Mody said that many taxpayers are waiting to file applications under ‘Vivad Se Vishwas’ scheme, but they are also waiting for correct demand to be intimated to them. of cleaning up of the …

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