Please tell me whether the amount of tax and interest payable under the Direct Tax Dispute Resolution Scheme as introduced vide Union Budget 2016-17 is the total tax liability as determined by A.O or the balance tax i.e. Tax determined - Tax already paid.
Please spare some time and help me get out of this issue.
I could not get you point properly. However as per fact given by you the tax already paid out of demand raised by AO is not to be paid again. The applicable interest have to paid. The 100% waiver of penalty is available in case where demand as per AO order is upto Rs.10 lacs. You can go through a detailed discussion on the topic. Salient features of The Direct Tax Dispute Resolution Scheme, 2016
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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