After the enactment of the Direct Tax Vivad se Vishwas Act, 2020 (VSVS)on the 17th of March, 2020 the government has now notified the Direct Tax Vivad se Vishwas Rules, 2020 alongwith Forms-1 to 5 on 18.3.2020 vide notification No.18 of 2020. The Forms are required to be filed by the declarant electronically only. No paper form shall be accepted. The Designated Authority shall also issue the certificate and order electronically only. The declaration under the VSVS shall be filed by the declarant in Form-1 and relevant schedules. In Form-2 the undertaking shall be required to be filed along with Form-1. The Designated Authority shall intimate the tax payable by or refundable to the declarant in Form 3. In Form-4 the declarant shall be required to intimate the details of payment in along with proof of withdrawal of relevant appeal, writ, arbitration, etc.The Designated Authority shall issue the order regarding full and final settlement of dispute in Form-5.The declaration in Form 1, the undertaking in Form 2 and intimation of details of payment in Form-4 are to be verified by digital signature or Electronic Verification Code (EVC) as applicable for the filing of ITR.To prepare and submit the Vivad se Vishwas Form:Please go to e-Filing portal: http://incometaxindiaefiling.gov.in ->Login using PAN (or TAN as applicable) & password ->Select 'Vivad se Vishwas' Tab ->Select ‘Prepare and Submit DTVSV Forms’
Quick Summary
The Direct Tax Vivad se Vishwas Rules, 2020, along with Forms 1 to 5, were notified on March 18, 2020.
The declaration forms must be filed electronically only via the e-filing portal. No paper forms will be accepted.
The declaration under the Vivad se Vishwas scheme is to be filed in Form-1, along with relevant schedules.
The Designated Authority will intimate the tax payable by or refundable to the declarant in Form-3.
You can access the e-filing portal at http://incometaxindiaefiling.gov.in.
The declaration in Form 1, the undertaking in Form 2, and the intimation of payment details in Form-4 are to be verified by digital signature or Electronic Verification Code (EVC).
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