April 25, 2021 1:48 am
The government has also extended the due date for issuance of notice for reopening of assessment by tax officers where income has escaped assessment and sending intimation of processing of Equalisation Levy till June 30.
April 24, 2021 3:39 pm
The Vivad Se Vishwas scheme provides for settlement of disputed tax, interest, penalty or fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee.
December 30, 2020 3:09 pm
Income Tax Return (ITR), GSTR-9 Annual Return Filing: From FY 2019-20 income tax return (ITR) to furnishing FY 2018-19 GST annual returns, December 31 is the last date for these financial tasks.
December 07, 2020 1:59 am
In a set of FAQs issued on the scheme, the Central Board of Direct Taxes (CBDT) said that it cannot be availed in a case where proceedings are pending before Income Tax Settlement Commission (ITSC) or where writ has been filed against the order of ITSC.
November 19, 2020 10:37 am
Of the total disputed amount of Rs 1.32 lakh crore covered by declarations under the scheme so far, the share of CPSUs is pegged to be 76 per cent.
April 23, 2020 12:57 am
The CBDT had, on March 4, issued a detailed FAQs on the scheme. In its Wednesday circular, the department has modified the answer to a question pertaining to prosecution cases with a view to “reflect the correct intent of law”.
March 21, 2020 2:52 pm
Under the Vivad se Vishwas scheme, designed for settlement of tax disputes pending in appeal as of January 31, 2020 or where the time for filing appeal has not expired, an assessee can make a declaration electronically under the prescribed form, and within 15 days the government will verify the tax payable and raise demand.
March 20, 2020 5:16 am
After March 31, an additional 10 per cent of disputed tax will have to be paid over and above the tax liability. However, disputes related to wealth tax, commodity transaction tax, securities transaction tax and equalisation levy are not covered.
March 09, 2020 1:12 am
This document, called ‘Joint Certification of Amount Payable’, is being signed between principal I-T commissioners and executives of the rank of chief financial officers at CPSUs.
March 06, 2020 12:51 am
It added disputes related to wealth tax, security transaction tax, commodity transaction tax and equalisation levy are also out of scheme’s ambit.