The FM announced the economic relief package on the 13th of May 2020 to fight the COVID-19 crisis. In her announcement dated 13/05/2020, the Finance Minister announced various Direct Tax Changes. The objective of the relief measures is to form an "Aatma Nirbhar Bharat". To fulfill the objective the FM announced various relief measures to be given to the MSMEs. In her speech, the FM announced the extension of the due date to file the Income Tax Return and Tax Audit for the Financial Ye..
1. During the Union Budget, 2020 presentation, the ‘Vivad’ se Vishwas’ Scheme was announced to provide for dispute resolution in respect of pending income tax litigation. Pursuant to Budget announcement, the Direct Tax Vivad Sc Vishwas Bill, 2020 (the Bill) was introduced in the Lok Sabha on 5th Feb, 2020. Subsequently, based on the representations received from the stakeholders regarding its various provisions, official amendments to the Bill w..
Vivad se Vishwas Scheme was announced in Budget 2020. The Scheme aims at speedy and hassle-free recovery of these outstanding Income Tax dues. This scheme has come into the force from 17th March, 2020 and the last date to avail this scheme without interest is 30th June, 2020...
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 VS..
The Institute of Chartered Accountants of India (ICAI) has always supported various initiatives & schemes launched by the Government for the benefit of stakeholders & public at large. In its endeavour to reach to maximum number of Chartered Accountants & clear their doubts, ICAI through its Direct Taxes Committee organised a Live Webcast on “The Direct Tax - Vivad se Vishwas Bill, 2020” on March 16, 2020 at ICAI Head Office , New Delhi. The '<a href="https://www.caclubindia.com/t..
This analysis is derived from a Vivaad Se Vishwas Decision Support Report...
The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget, 2020, to provide for dispute resolution in respect of pending income tax litiga..