Circular under section 10 of the Direct Tax Vivad se Vishwas Act, 2020

Last updated: 05 March 2021

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This circular clarifies the Direct Tax Vivad se Vishwas Act, 2020. It addresses a gap where Assessing Officers previously lacked a provision to implement orders passed by the designated authority under the Act. Following representations, it is now confirmed that Assessing Officers are empowered to pass consequential orders under the Income-tax Act, 1961, to give effect to the decisions made by the designated authority.

F. No. IT(A)1112020-T1L Government of India Ministry of Finance Department of Revenue Ccntr-al Board of Direct Taxes New Delhi, 4 March, 2021 SUb.: Circular under section 10 of the lJircct Tax Vivad sc Vishwas Act, 2020 _ reg. The Direct Tax Vivad sc Vishwas Act, 2020 ( Vivad se Vi,\!nva.f) was enacted on 171h March,2020 with the objective of infer alia reducing pending income lax disputes, generating timely revenue forthe Government and benefitting taxpayers by providing them peace o

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1999

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FAQ :

The Direct Tax Vivad se Vishwas Act, 2020 was enacted to reduce pending income tax disputes, generate timely revenue, and provide taxpayers with certainty and savings.

The designated authority (DA) is required to pass a determination order within fifteen days of receiving a declaration and another order for full and final settlement of tax arrears.

Assessing Officers did not have a provision under the Income-tax Act, 1961, to give effect to the orders passed by the designated authority under the Vivad se Vishwas Act.

This circular clarifies that where the designated authority has passed orders under section 5 of the Vivad se Vishwas Act, the Assessing Officer shall pass a consequential order under the Income-tax Act, 1961.

This circular is issued under section 10 of the Direct Tax Vivad se Vishwas Act, 2020.