Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020

Last updated: 05 December 2020

Save Share

Quick Summary

This circular provides further clarifications and answers to Frequently Asked Questions (FAQs) regarding the Direct Tax Vivad se Vishwas Act, 2020. Issued to reduce tax litigation and benefit taxpayers, the Act's provisions have been amended to accommodate pandemic-related challenges, including extended payment deadlines. This circular addresses 34 new FAQs, building upon previous clarifications and aiming to resolve taxpayer queries.

Circular No. 21 /2020 F. No. IT(A)/1/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 4th December, 2020 Sub.: Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020 - reg. With the objective to reduce pending income tax litigation, generate timely revenue for the Goverrunent and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otberwise be

Daily Limit Reached

You have reached your daily limit of 2 Free Notice & Circular

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Notice & Circular Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN

1999

(Excl. of GST ₹359)

BEST VALUE

2 Years PLAN

3499

(Excl. of GST ₹629)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 011-411-70713

FAQ :

The Direct Tax Vivad se Vishwas Act, 2020 is an initiative enacted to reduce pending income tax litigation, generate timely revenue, and provide taxpayers with certainty and savings by avoiding lengthy legal processes.

The Act was amended to provide relaxations due to the COVID-19 pandemic. This included extending the date for payment without additional amount to 31st March 2021, and setting the last date for filing declarations as 31st December 2020.

Circular No. 21/2020 is issued to provide answers to 34 additional FAQs (Q. no. 56-89) on issues related to the Vivad se Vishwas Act, in continuation of previous clarifications.

Previous clarifications, including answers to 55 FAQs, were issued through circular no. 9/2020 dated 22nd April, 2020.

31st March 2021 is the extended last date for making payment without any additional amount under the Vivad se Vishwas Act.

'DA' refers to the Designated Authority appointed under the Vivad se Vishwas Act.