VIVAD SE VISHWAS
Vivad Se Vishwas: A shout-out to the tax-compliant
VSV is expected to resolve a major part of direct tax litigations worth about Rs 4.8 lakh crore by way of remission and waiver of interest, and penalty for all pending disputes for which an appeal is filed. The provisions of the scheme also provide relief to taxpayers who have won their appeal at any stage by way of 50% remission of tax liability and 100% waiver of interest and penalty.
Taxpayers can now file declarations under 'Vivad Se Vishwas' scheme
“The tax department has finally operationalised the ‘vivad se vishwas’ sc...
Tax officials ready with rules, forms to implement Vivad Se Vishwas scheme
Tax officials are ready with necessary rules and forms under the V...
Parliament approves Vivad Se Vishwas Bill
Parliament on Friday approved a bill that will provide an opportunity to taxpayers to settle their tax disputes by paying just due taxes with complete waiver of interest and penalty by March 31.
Vivad se Vishwas scheme: Interest, penalty waived for entire scheme period
The extension has come after the country has gone into lockdown mode due to the increase in cases of those infected by the coronavirus.
Authority of Advance Ruling disputes not within Vivad Se Vishwas ambit
CBDT issued a set of 55 questions and answers on Thursday to clarify various aspects of the tax amnesty scheme, which allows taxpayers to settle disputes by paying interest and penalty. The scheme was announced in the budget to bring down pending litigation and a bill to give it shape was approved by Lok Sabha.
Companies send SOS to tax and audit experts for Vivad se Vishwas scheme
Disputes are resolved by paying outstanding taxes while getting a waiver of interests and penalties.
Taxman asks FPIs to settle past cases via ‘Vivad Se Vishwas’
Most FPIs may not join scheme as they think they can win the cases
Tax amnesty scheme: Taxman's pay hikes, postings to be linked with mop-ups under Vivad se Vishwas
The 'Vivad se Vishwas' scheme for resolving income tax cases was announced during the 2020-21 Budget.
Aadhaar-PAN, Vivad se Vishwas, belated ITR, tax-saving deadlines extended to June 30, 2020
The government decision comes amid curfews and lockdowns due to the Covid-19 pandemic.
Vivad Se Vishwas: I-T department draws up list of PSUs to settle tax disputes
I-T dept has drawn up a list of central and state PSUs in a bid to encourage them to avail 'Vivad Se Vishwas'.
I-T department set to implement 'Vivad se Vishwas' scheme
I-T department has made the scheme a part of the department’s Annual Performance Assessment Report and has conveyed all its field officers that they may ask their personnel to provide details of their performance in implementing the scheme in their self-appraisal APAR of FY 19-20, said a official privy to the communication issued by the CBDT.
'Vivad se Vishwas' scheme: CBDT to review pendency of appeals
The officials said a video conference-based interaction will be undertaken by the CBDT member in-charge with all regional chiefs of the department in the country. The agenda, they said, is to review data on pendency of high courts and Income Tax Appellate Tribunals (ITATs) appeals for the 'Vivad se Vishwas' (from dispute to trust) scheme.
CBDT names nodal officers to bring PSUs on board ‘Vivad se Vishwas’ scheme
Three senior tax officials to work with various ministries and ensure that PSUs join the tax amnesty scheme. This is the latest in a series of directives issued by the Central Board of Direct Taxes to ensure maximum participation in the tax amnesty scheme. Mumbai, which contributes 37% of the country’s total direct tax collection, has lined up a list of 53 CPSUs and 45 state PSUs.
Mumbai Income Tax chief writes to CBDT head to extend the date of limitation
Considering that Mumbai contributes towards 32 per cent of tax mop up, the Principal Chief Commissioner has also requested to extend the same for Direct Tax dispute resolution or Vivad se Vishwas (VsV) scheme and cases under the Black Money Act. Under VsV, disputed assessees can apply before March 31, an additional 10 per cent more will be charged for settlement of disputes after that date.
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