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Vivad Se Vishwas Scheme

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CA MEGHA BANSAL

3 Points Posted on 26 February 2020

What is the meaning of Disputed Penalty under Vivad se Vishwas Scheme, 2020? Whether it covers Penalty u/s 271B, 271F etc. which are not direclty related to assessed income or tax?

Replies (2)

Quick Summary

The Vivad Se Vishwas Scheme 2020 aims to resolve tax disputes. It covers a wide range of issues including disputed tax, penalties, interest, and fees. Importantly, the scheme extends to penalties under sections like 271B and 271F, even if they aren't directly tied to the assessed income or tax amount. Appeals filed by either the taxpayer or the department are eligible, and cases where payment has already been made can also be considered.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 26 February 2020

It covers all types of disputes

All disputes, subject to some exclusion, in relation to the -

Disputed tax

Disputed penalty

Disputed interest

Disputed Fee

Disputed tax deducted at source (TDS) or tax collected at source (TCS)

The appeals/writs filed by taxpayers or the department are eligible

Disputes where the payment has already been made shall also be eligible