tag:blogger.com,1999:blog-51271503691056948912024-03-25T13:06:54.221+05:30CA.Chandrakant Pawar | Chartered Accountants| NashikThis Blog is created with a view to give updates to the members/clients/viewers on a topic of professional interest and sharing the knowledge among the chartered accountants, CA students and clients.
-CA.Chandrakant Pawar-NashikCA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.comBlogger2066125tag:blogger.com,1999:blog-5127150369105694891.post-62095680672429746202022-07-19T13:21:00.000+05:302022-07-19T13:24:17.996+05:30Imp-GST will be payable under RCM from 18 July 2022 - Renting of Residential Property<div dir="ltr"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div style="font-family:arial;font-size:small"><span style="font-family:Arial,Helvetica,sans-serif">Dear Sir,</span><br></div></div></div></div></div><div class="gmail_quote"><div dir="ltr"><div><br></div><div><br>GST will be payable under RCM from 18 July 2022 - Renting of Residential Property – in below cases :<br><br>When a Company, LLP, Firm, Proprietary concern etc., registered under GST takes a residential dwelling for the purpose of residence on rent for employees/Director , GST will be payable under RCM and the ITC of the GST paid under reverse charge can be claimed.<br><br> <br>1. The exemption has been withdrawn vide CGST(Rate) Notification no. 04/2022 dated 13.07.2022.<br><br>2. Same has been notified under RCM vide CGST(Rate) Notification no. 05/2022 dated 13.07.2022.<br><br><br></div><div class="gmail_quote"> </div></div> </div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com2tag:blogger.com,1999:blog-5127150369105694891.post-36786481150452490342021-06-28T12:37:00.000+05:302021-06-28T12:38:25.668+05:30New TDS Provision on Purchases of Goods wef 01st July 2021<div dir="ltr"><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div style="font-family:arial;font-size:small"><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><span style="font-family:Arial,Helvetica,sans-serif;font-weight:400"><br></span></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><span style="font-family:Arial,Helvetica,sans-serif;font-weight:400">Author : Sudhir Halakhandi | </span><span style="font-family:Arial,Helvetica,sans-serif;font-weight:400"><a href="mailto:sudhirhalakhandi@gmail.com">sudhirhalakhandi@gmail.com</a></span><br></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Source: <a href="https://taxguru.in/goods-and-service-tax/tds-provision-purchases-goods-wef-01st-july-2021.html">https://taxguru.in/goods-and-service-tax/tds-provision-purchases-goods-wef-01st-july-2021.html</a></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><br></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">FROM 1ST July 2021- NEW TDS PROVISION ON PURCHASES OF GOODS | SECTION 194Q | ANALYSIS OF SECTION 194Q</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">A new provision of TDS is coming into force on the purchase of 'goods' with effect from 1st July 2021, under which the buyer of the goods has to deduct TDS from his seller at a certain percentage on the purchase of the goods. You will remember that last year the provisions of TCS on sale of goods came through section 206(C)(1H) and the provisions of TDS of 194Q are very similar to the provisions of these TCS. The buyer who has to deduct TDS and value of transaction on which deduction is to be made is clearly mentioned in the Section 194Q which we will see in this study.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">Let us study these provisions under section 194Q applicable to TDS on Purchases of Goods from July 1, 2021 and let us try to understand what are these new provisions and whether there is any relation these provisions have with section 206(C)((1H) introduced last year only with respect to TCS on sale of Goods. We will also analyze that there may be a similarity which may have practical significance also. In some situations, there may be overlapping because in some situations both the provisions are applicable on a single transaction and this situation is really creating confusion in the mind of the taxpayers.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">Let us try understand in very simple language the provisions of TDS of section 194Q on the purchase of goods with effect from July 1, 2021 so that these provisions can be followed after proper understanding of the same.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">1. Section 194Q is applicable to which buyers: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">The section 194Q of TDS is applicable only to those buyers whose turnover, gross receipt or sales in the previous year was more than Rs.10 crores hence in the financial year ended on 31st March 2021, the buyers whose turnover was more than Rs.10 crore in that year, they have to deduct TDS from their resident seller on the purchase of above Rs.50 lakh in the current financial year 2021-22. This TDS is to be deducted on the balance amount leaving the first Rs 50 lakh per seller and it is applicable from 1st. July 2021,</p><div id="gmail-ded6dda7-42d7-4c97-ac2c-7b2dc3b3d424" class="gmail-_ap_apex_ad" style="box-sizing:border-box;clear:both;text-align:center;margin:10px auto;width:1px;height:1px;overflow:hidden"><div id="gmail-ADP_41148_1X1_ded6dda7-42d7-4c97-ac2c-7b2dc3b3d424" style="box-sizing:border-box;margin:0px auto"><div id="gmail-google_ads_iframe_/103512698/22412769409_0__container__" style="box-sizing:border-box;border:0pt none;width:0px;height:0px"></div></div></div><p></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">Therefore, if the turnover of a buyer is less than Rs.10 crore in the year ended March 31, 2021, he does not have to comply with this provision in current financial year, thus a large number of buyers will remain outside this provision of TDS. You can say that the provision is applicable on relatively big buyers.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">2.From which Sellers to deduct TDS: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">TDS at the rate of 0.1% is to be deducted on the amount exceeding Rs. 50 lakhs in any one financial year from one seller from whom the buyer as mentioned has purchased goods worth more than Rs. 50 lakhs. We should Keep in mind here that this seller should be a resident of India i.e., resident as per the Income Tax provisions.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">3. On which amount TDS is to be deducted: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">This TDS is to be deducted only on the amount above Rs 50.00 lakh in a financial year from one seller i.e., if the purchase is for Rs 67.00 lakh then the Buyer has to deduct TDS only on the amount above Rs 50 lakh i.e., on Rs 17.00 lakh. Keep in mind here that every year if TDS is to be deducted under this section, then for each seller, the buyer will have to deduct first Rs. 50 Lakhs then deduct TDS on remaining amount. This is one time seller wise deduction for each seller in every financial year.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">For example, if a buyer buys goods from a particular seller worth Rs 70.00 lakh each 4 times, then in this way in a financial year, he bought a total of 280.00 lakhs, then now he has to deduct Rs 50.00 lakh from it and the TDS has to be deducted only on Rs.230.00.</p><div id="gmail-94361627-5ccb-4c4f-9741-c8b0fb5d6ca7" class="gmail-_ap_apex_ad" style="box-sizing:border-box;color:rgb(68,68,68);font-size:16px;clear:both;text-align:center;margin:10px auto;overflow:hidden"><div id="gmail-ADP_41148_responsiveXresponsive_94361627-5ccb-4c4f-9741-c8b0fb5d6ca7" style="box-sizing:border-box;margin:0px auto"><br class="gmail-Apple-interchange-newline"></div><div id="gmail-ADP_41148_responsiveXresponsive_94361627-5ccb-4c4f-9741-c8b0fb5d6ca7" style="box-sizing:border-box;margin:0px auto"><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Now one more thing to keep in mind that this limit of Rs 50 lakh is for one financial year for each seller, so now that this provision is applicable from 1st July 2021 then TDS you have to deduct only on purchases after 1st July 2021 but While ascertaining the limit of purchase Rs. 50.00 Lakhs , the purchases from April 1, 2021, the purchase will also have to be taken into account.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Examples 1: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">X & Co. has made purchase from Y & Co. from 1st April 2021 to 30th June for Rs 40 lakhs and now on 1st July 2021 another purchase has been made from the same seller for Rs 30 lakhs, so now out of 30 lakhs on this purchase TDS has to be deducted on Rs 20 lakh after deducting Rs 10 lakh. The limit of a financial year is Rs 50 lakh per seller, so X & Company has already purchased Rs 40 lakh out of this limit before June 30, so now only Rs 10 lakh is left out of the limit of Rs 50 lakh. The TDS has to be deducted on the purchases made on or after 1st. July 2021.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Example 2: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">X & Co. has made a purchase from Y & Co. from 1st April 2021 to 30th June for Rs 70 lakhs and now on 1st July 2021, another purchase has been made from the same c for Rs 30 lakhs, so now on this purchase for Rs 30 lakhs only. TDS is to be deducted. The limit of Rs. 50 lakh per seller is for a financial year and X & Co. has already exhausted this limit before 30th June.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Whether TDS is to be deducted while adding GST: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">The reason for this controversy that the TCS to be deducted under section 206 (C) (1H) where the Central Board of Direct Taxes had clarified that TCS is to be deducted only on the entire amount received including GST.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">206 (C) (1H) is related to the sale of goods, but the calculation of TCS on it is purely on the basis of "payment receipt", so there this clarification has been issued vide <strong style="box-sizing:border-box"><a title="circular number 17/2020-Inncome Tax dated 29 September 2020" href="https://taxguru.in/income-tax/tds-section-194o-cbdt-issues-guidelines.html" target="_blank" rel="noopener" style="box-sizing:border-box;background-color:transparent;color:rgb(51,122,183);text-decoration-line:none;outline:none 0px">circular number 17/2020 dated 29 September 2020</a></strong>. That GST will be included while computing TCS.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">But this is not the case with TDS under section 194Q, so there is a Board <strong style="box-sizing:border-box"><a title="Circular 23/2017-Income Tax dated 19 July 2017" href="https://taxguru.in/income-tax/tds-deductible-gst-component-cbdt.html" target="_blank" rel="noopener" style="box-sizing:border-box;background-color:transparent;color:rgb(51,122,183);text-decoration-line:none;outline:none 0px">Circular 23/2017 dated 19 July 2017</a></strong> regarding TDS in respect of services where it is said that "TDS should be deducted while leaving GST". should be applicable. But keep in mind here that no such clarification has been issued with respect to the goods.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Explanation must be issued to end confusion and dispute If the intention of the government is something else, that is, it wants to deduct this TDS on the amount of GST as well, then Circular/instructions in this regard should be issued before July 1, 2021, so that this dispute also ends.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">4. At what time TDS is to be deducted: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">If all the conditions given in this section 194Q are satisfied, then this TDS is to be deducted at the time when such amount is credited to the seller's account or paid to him, whichever is earlier i.e. when the buyer while entering the purchase of goods, the account of the Goods is debited and credited to the account of the seller, at that time TDS is to be deducted, but in this regard the payment has already been made to the seller in the form of advance, then TDS is to be deducted at the time of payment itself. . Understand this in simple words, if you have not paid the advance amount, then you have to deduct this TDS at the time of purchase of goods and if you have made advance payment then you have to deduct this TDS at the time of advance payment. Here you should keep in mind that this TDS is to be deducted at the time of giving advance and the balance amount while purchasing the goods.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">5. What will be the rate of TDS :-</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">The rate of TDS will be 0.1% i.e., practically Rs.100 is to be deducted on Rs. 1.00 of eligible amount on which TDS is to be deducted. Here is an example of Rs.1 lakh just for an estimate. The amount is to be calculated at the rate of 0.1% of the exact eligible amount. Let us try to understand with the help of some examples.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Example -1</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">For example, if the total purchase by the buyer in a financial year is 52,34,400.00 and all these purchases are made only after July 1, 2021, after deducting Rs 50 lakh, 2,34,400.00 is left, then the amount of TDS on this will be Rs 234.00.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Example-2: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">If a buyer has purchased goods worth Rs 70 lakh from his seller, then he has to deduct the first Rs 50.00 Lakh from it as initial deduction as mentioned in the section then deduct TDS on remaining Rs 20 lakh 0.1% Rs 2000.00 TDS.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">TDS rate 5% for non-delivery of PAN number – Section 206AA</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">If the seller does not give his PAN number to the buyer, then this rate of TDS will be 5% instead of 0.1% which is normal rate of TDS under this section 194Q. You can imagine yourself that this is a rarest of the rare situation because at this time almost all the dealers have the PAN number and it is practically impossible to do business without PAN. But if a buyer does not have the seller's <strong style="box-sizing:border-box"><a title="Permanent Account Number (PAN)" href="https://taxguru.in/income-tax/permanent-account-number-pan.html/" target="_blank" rel="noopener" style="box-sizing:border-box;background-color:transparent;color:rgb(51,122,183);text-decoration-line:none;outline:none 0px">PAN</a></strong> number, then the rate of this TDS will be 5 percent instead of 0.1%.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">In the normal case, where the person whose TDS is to be deducted, there is a provision to deduct 20 percent TDS for not giving the PAN number, but under section 194Q, this rate will be 5 percent if the PAN number is not given. Here one should note that without PAN the rate of Tax is 20% in other cases but in case of Section 194Q the rate will be 5%.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Rate of TDS for Non-filers of ITR: – 206AB</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">A new category of "Specified Persons" whose TDS is to be deducted from 1st July 2021 has been mentioned under section 206AB for whom TDS is to be deducted at twice the regular rate or 5 percent, whichever is higher. These persons are categorized as the persons in whose case the TDS/TCS deducted from them from all the sources is high in but they are defaulters in filing their returns regularly. Here defaulters mean persons who are not filing their ITRs for continuous 2 years in spite of the fact that in each of both these 2 years the TDS/TCS deducted and/or collected is more than Rs.50000.00.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Let us try to understand this provision of higher deduction of TDS under section 206AB with the help of a case study on the date when the provision will be applicable i.e., on 1st. July 2021: –</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">X is a person whose TDS is to be deducted. During the Financial year ended on 31st March 2019 and 31st March 2020, in each year the TDS+TCS deducted/Collected from X was more than Rs.50000.00. Please note that for both the financial years the TDS/TCS should be more than Rs. 50000.00. If in one year out of these two the TDS/TCS is less than Rs. 50000.00 then there is no need to for searching whether X is filing his return or not since the provision of section 206AB are not applicable in that case.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Since for both the years the TDS/TCS figures are more than Rs. 50000.00 then we have to see whether X has filed his ITR for the year ending on 31/03/2019 or not. If he has filed then since the return of one year is field out of these two years then again, the provisions of section 206AB are not applicable but if the ITR for the year ending on 31/03/2019 is not filed by X then we have to see the ITR for the year ending on 31/03/2020. If this return is filed then also the provisions of section 206AB will not be applicable and the rate of TDS will be normal but the if the return for the year ending with 31/03/2020 was also not filed then section 206AB is applicable and the rate of TDS will be twice the rate applicable or 5% whichever is higher.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Now precisely we have to go for two previous years for which the date of filing of return under section 139(1) is expired. Since the date of filing of ITR for the financial year ending 31/03/2021 is not yet expired then we have to go for financial years ending with 31/03/2019 and 31/03/2020 and if for these two years the TDS/TCS is more than Rs. 50000.00 in each of these two years and the person has not filed his ITRs for both of these two years then the rate of TDS will be increased. If return for one year out of these two is filed then the TDS rate will be normal rate.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Let us in this provision, when will be related to the return of assessment year 2021-22 i.e., the year ending 31st March 2021, then remember that on the day the date prescribed under section 139(1) of this return expires then financial years ending with 31st March 2020 31st March 2021 will be considered and the TDS/TCS deducted on these persons and ITRs filed for these two Financial Years will determine the rate of TDS for a particular person and the year of 31st March 2019 will be omitted from this calculation at that point of time.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Since at present the date under section 139(1) is not expired year hence at present we have to consider the TDS/TCS and ITRs for the Financial Years 31/03/2019 and 31/03/2020.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Please note that for categorizing the "specified person" for higher rate of TDS the date under section 139(1) is the criteria only for selection of financial year taken for consideration but if returns for that financial years are filed after that date will also make the filer eligible for Normal rate of TDS.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">The same provision will now be applicable on TDS of section 194Q as well and in these circumstances the tax rate will be 5% instead of 0.1%.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">6. When to deposit TDS: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">This TDS has to be deposited by the 7th day of the end of the month in which the TDS is deducted. This provision is being implemented from 1st July 2021, so the first TDS of July 2021 is to be deposited by 7th August 2021 and after that till the 7th day of the next month after the end of every month. One thing to remember here is that TDS for the month of March has to be deposited by 30th April. Failure to do so will result in payment of interest as per rules as is the case with late deposited TDS.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">7. When to fill the return: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">TDS return is to be filed in 26Q TDS Returns and it is to be filed on quarterly basis.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Let us see what is the due date of this TDS return: –</p><table style="border-collapse:collapse;border-spacing:0px;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin-top:25px;margin-bottom:20px;width:613.328px;border:1px solid rgb(221,221,221);border-radius:6px;max-width:100%;text-align:start;height:auto"><tbody style="box-sizing:border-box"><tr style="box-sizing:border-box;color:rgb(53,52,53);background-color:rgb(249,249,249)"><td width="301" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221)">Quarter ending</td><td width="301" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top">Date of filing of Return</td></tr><tr style="box-sizing:border-box"><td width="301" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221)">June</td><td width="301" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top">31 July</td></tr><tr style="box-sizing:border-box;background-color:rgb(249,249,249)"><td width="301" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221)">September</td><td width="301" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top">31 October</td></tr><tr style="box-sizing:border-box"><td width="301" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221)">December</td><td width="301" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top">31st January</td></tr><tr style="box-sizing:border-box;background-color:rgb(249,249,249)"><td width="301" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221);border-radius:0px 0px 0px 6px">March</td><td width="301" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-radius:0px 0px 6px">31st May</td></tr></tbody></table><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">8. What will be the result of not deducting/depositing TDS: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">As per section 40(ia) of the Income Tax Laws an amount has been paid to a resident on which TDS is to be deducted but not deducted and if deducted and the same is not deposited before the expiry of the time provided for furnish of ITR under section 139(1) then the 30% of the amount on which TDS is to be deducted and deposited will be added to the income of that person.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">This provision will also be applicable to TDS falling under section 194Q of TDS so wherever the provisions of TDS are applicable, TDS must be deposited as the amount of purchase of goods is always very high and 30% of that is added back to the income of the Assessee then the tax on such amount will be very high. So be careful and deduct and deposit the TDS keeping in mind the provision of addition of this 30% to the income.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">9. When not to deduct TDS: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">In this regard, if all the conditions mentioned above are fulfilled, the buyer becomes liable to deduct TDS, even then he does not have to deduct this TDS and two such situations are there: –</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify;padding-left:40px">(i). Where TDS is to be deducted on the transaction of this purchase under any other provision under the Income Tax Act.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify;padding-left:40px">(ii). When TCS is deductible under 206C (excluding TCS provisions applicable to sale of goods under section 206(C)(1H)) by the seller on that transaction, the provisions of TDS are not applicable.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Please Keep in mind here that TCS is to be deducted in any of the provisions of TCS in section 206C, except 206 (C) (1H), then TDS is not to be deducted under this section.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">But this exception excludes TCS to be deducted on sale of goods which is mentioned in section 206C(1H) and this is where the relation of section 194Q and section 206C(1H) come into picture. it should be kept in mind that if any transaction on purchase of goods attracts TDS under section 194Q as well as under section 206(C)(1H), then only the buyer will deduct TDS on it and if he has deducted TDS the seller is not required to deduct TCS under section 206(C)(1H) on such transaction.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">– Section 206C) (1H) of Second Proviso and Budget Memorandum Finance Bill 2021 page 76.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">So please note where there is a transaction on which buyer and seller both are covered to deduct TDS and TCS respectively then it is only the buyer who has to deduct TDS and in all those cases all these buyers should inform the sellers that they are deducting the TDS and the seller should not collect the TCS on these types of transactions. The Liability of TDS is always there in this type of transaction even if the TCS is collected by the seller. So be careful in communicating properly and within time to your sellers in this situation.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Now let's look at some practical examples to understand the provisions of TDS on purchases of Goods under section 194Q: –</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Example 1</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">X is a buyer who buys goods worth Rs 70 lakhs from a seller named Y. The annual turnover of X (buyer) in the year ended 31st March 2021 is Rs 15 crores but the annual turnover of Y (seller) is only Rs 5 crores in the same period. Payment for the goods is made after the goods are received.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">-Only section 194Q is applicable on this transaction and X has to deduct 0.1% TDS from Rs.70 lakhs deducting Rs.50 lakhs in this transaction. After this, 0.1% TDS is to be deducted on every purchase made from Y till March 31, 2022, on the entire amount purchased since Rs. 50 Lakhs per dealer deduction is available only once a financial year.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Example-2</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">X is a buyer who buys goods worth Rs 70 lakhs from a seller named Y. The annual turnover of X (buyer) in the year ended 31st March 2021 is Rs.5 crores but the annual turnover of Y (seller) is only Rs.15 crores in the same period. Payment for the goods is made after the goods are received.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">-194Q will not be applicable to this transaction because here the buyer's turnover for the year ended 31st March 2021 does not exceed Rs.10 crores but since the seller's turnover during the period was more than Rs.10 crores which is applicable under section 206C(1H) Therefore, on this transaction, at the time of payment of Rs 70 lakhs under this section, the seller will collect and deposit TCS under section 206C(1H) at the rate of 0.1% on Rs 20 lakhs after deducting Rs 50 lakhs.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Example-3</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">X is a buyer who buys goods worth Rs 70 lakhs from a seller named Y. The annual turnover of X (Buyer) for the year ended 31st March 2021 is Rs 15 crores and the annual turnover of Y (seller) is also Rs 20 crores in the same period. Payment for the goods is made after the goods are received.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">-This is the only instance under which both the conditions of section 194Q and section 206C(1H) are satisfied because the turnover of both the buyer and the seller during the year ended March 31, 2021 was more than Rs.10 crore and the purchase of goods / The amount of payment is also more than Rs. 50 lakhs.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">But keep in mind here that only TDS will be deducted on such transaction which is to be deducted by the buyer at the time of purchase of the goods. Where the provisions of TDS are applicable to the buyer and TDS is also deducted, the TCS applicable on the sale of goods under section 206C(1H) is not applicable.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">One point we should keep in mind that where both the provisions are applicable under section 194Q and 206(1H) on a single transaction , as explained above then in that situation the practically the buyer should inform the seller that he is deducting the TDS under section 194Q and seller should not collect the TCS under section 206(C)(1H) on such transaction because if TCS is Collected by the seller even then Buyer will have to deduct the TDS since there is no exemption from TDS under section 194Q on the condition that the TCS is collected under section 206(C) (1H).</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">How it will affect the Dealers of Big Companies: –</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Big Manufacturing companies are collecting TCS under Section 206 (C) (1H) from their dealers. See all the Automobile, Electronic and other Consumer Goods companies.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);line-height:1.6;text-align:justify">Now from 1st. July 2021 the situation will change since both companies and dealers are in big categories having turnover more than 10 Crores and all the transaction of sale and purchases is More than Rs. 50 Lakhs in a Financial Year to be covered under section 194Q and 206(C) (1H). Now dealers will have to inform to the companies that they are liable to deduct TDS so companies will stop collecting TCS and it will certainly shift the working capital burden from dealers to companies</p></div></div><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br><br></font></b></div></div><div><div></div></div></div></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com4tag:blogger.com,1999:blog-5127150369105694891.post-25210975850249217912021-06-28T12:21:00.000+05:302021-06-28T12:22:39.786+05:30Section 206AB introduces higher levy of TDS on tax defaulters from 01st July 2021<div dir="ltr"><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box"><span style="font-style:normal"><br class="gmail-Apple-interchange-newline">(The author </span></em> <a title="View All Posts by Pratik Anand" href="https://taxguru.in/author/pratik-anand/" style="color:rgb(51,122,183);background-color:transparent;box-sizing:border-box;text-decoration-line:none;outline:none 0px">Pratik Anand</a> <em style="box-sizing:border-box"><span style="font-style:normal">isa Chartered Accountant and can be contacted at </span><span style="font-style:normal"><a href="mailto:capratikanand@gmail.com">capratikanand@gmail.com</a></span><span style="font-style:normal"> or Mobile: </span><strong style="box-sizing:border-box;font-style:normal">+91-9953199493)</strong></em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box"><strong style="box-sizing:border-box;font-style:normal">Source: <a href="https://taxguru.in/author/pratik-anand/">https://taxguru.in/author/pratik-anand/</a></strong></em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><br></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">Let us see one major change in TDS provisions w.e.f 01<span style="box-sizing:border-box;font-size:12px;line-height:0;vertical-align:baseline">st</span> July'2021:</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">1) Introduction of Sec 206AB by Budget 2021:</strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">Finance Act 2021 introduced section 206AB to the Income Tax Act.Section 206AB has major implications on existing TDS provisions and rates.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">Section 206AB states that TDS on any payment otherthan on salaryis to be deducted at twice the rates in force or 5% whichever is higher in case the recipient or deductee has not filed the returns of income (ITR) for the previous two financial years for which the time limit for filing ITR has expired and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in each of these two previous years.</p><div id="gmail-ded6dda7-42d7-4c97-ac2c-7b2dc3b3d424" class="gmail-_ap_apex_ad" style="box-sizing:border-box;clear:both;text-align:center;margin:10px auto;width:1px;height:1px;overflow:hidden"><div id="gmail-ADP_41148_1X1_ded6dda7-42d7-4c97-ac2c-7b2dc3b3d424" style="box-sizing:border-box;margin:0px auto"><div id="gmail-google_ads_iframe_/103512698/22412769409_0__container__" style="box-sizing:border-box;border:0pt none;width:0px;height:0px"></div></div></div><p></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Therefore, if the deductee/recipient has not filed his ITR for previous two financial years and his total TDS and TCS deductedis more than Rs. 50,000/- in each of the 2 previous years then deductor needs to deduct TDS at:</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">higher of the following rates, namely:—</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify;padding-left:40px">(i) at twice the rate specified in the relevant provision of the Act; or</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify;padding-left:40px">(ii) at twice the rate or rates in force; or</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify;padding-left:40px">(iii) at the rate of five per cent.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Hence, if you are deducting TDS of any person from 01<span style="box-sizing:border-box;font-size:12px;line-height:0;vertical-align:baseline">st</span> July 2021 and if that person has not filed his ITR for the last two financial years and his/her aggregate TDS and TCS is exceeding Rs. 50,000/- then you must deduct TDS at <strong style="box-sizing:border-box">twice</strong> the normal rate or 5% whichever is higher.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box"><br></em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">For Ex: If you are deducting TDS U/s 194C then TDS will deducted at 5% if the deductee/payee has not filed ITR for last 2 financial years and their TDS and TCS exceeds Rs. 50,000/- in each FY. (twice of 2% = 4% or 5% whichever is higher i.e 5%)</em></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Similarly, if you are deducting TDS U/s 194J then tds will be deducted at twice the rate i.e 20% (10%*2) or 5% whichever is higher which comes out to be 20%.</em></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">The idea of the government is to extract Tax at source from persons who are not filing their IT Returns.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Ques: </strong>How will we know whether the deductee/recipient of payment is filing their ITR for previous two financial years and their TDS exceeds Rs 50,000/- in both previous Financial years?</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box">Ans: </strong>The Govt. has come up with a utility where every person can check if their deductee/payee is a specified person on whom higher rate of TDS is applicable.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify">If a person is a 'specified person' then higher rate as mentioned above shall be required to be deducted for such person.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">You can also take a declaration or an undertaking from all the persons of which you are liable to deduct Tax in respect of the <strong style="box-sizing:border-box">same but please note that a declaration or undertaking is no substitute for checking if the person is a specified person from the Govt. prescribed utility.</strong></em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">What if a specified person on whom higher rate is to be deducted does not have a PAN?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans:</em></strong><em style="box-sizing:border-box"> Income Tax Act prescribes TDS at 20% where PANis not available.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">This new section clearly states that TDS will be deducted at rate prescribed in this section or 20% whichever is higher.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">Whether similar provisions are available in case of Tax Collected at Source (TCS)?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">Yes,budget 2021 has introduced similar provisions in TCS where higher rate of TCS is to be collected from 'specified person' who has not filed ITR of two previous financial years and total TDS and TCS exceeds Rs. 50,000/- vide section 206CCA.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">ITR for which FY should be filed to determine whether higher TDS is to be deducted or not.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">For FY 2021-22, ITRS for FYs 2019-20 and FY 2018-19 need to be checked. Therefore, if any person has filed ITRs for FY 2019-20 and FY 2018-19 then higher rate of TDS is not applicable on such person.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">ITR for FY 20-21 will not be checked for this purpose as the time limit for filing such return has not expired yet.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">If a person has not filed ITRs for preceding two Financial years, whether it is certain that TDS at higher rate will be deducted?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">Section 206AB/206CCAprescribe two conditions for deduction of tax at higher rate. Along with filing ITR for previous two financial years, the total aggregate TDS and TCS of the deductee/payee/recipient of payment should also be Rs. 50,000/- or more in each of the two previous financial years.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Therefore, if the payee/deductee does not have total aggregate TDS and TCS of Rs. 50,000/- or more during each of the two previous financial years then TDS will not be deducted at higher rates even if such payee/deductee has not filed his ITR for previous two financial years.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques:</em></strong><em style="box-sizing:border-box"> Whether aggregate of TDS and TCS of Rs. 50,000/- is for the payment on which TDS rate is to be checked or is it total TDS and TCS of the payee/deductee during the FY on all amounts received by him?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">Total TDS and TCS of the payee/deductee on aggregate of all amounts received by him during the FY is to be checked.Therefore, total TDS/TCS showing in form 26AS of the deductee for the financial year is to be considered for the purpose of this section.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">TDS/TCS amount on thatparticular payment is not to be considered for determining higher rate of TDS on such payment.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">What type of declaration can we take from the deductee/payee?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">Sample Declaration can be as follows:</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Sample format of Self-Declaration is mentioned below:</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">(On the letter-head of entity)</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Dear XXXX (Deductor's/Collector's Name)</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Sub: Declaration regarding filing of Income Tax Returns for past years </em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">This letter is to inform you that Finance Act 2021 has introduced new provision w.e.f. 1st July 2021 vide section 206AB/206CCA under Income Tax Act 1961 for deducting/collecting TDS/TCS at higher rate for non-filing <a title="income tax return (ITR)" href="https://taxguru.in/income-tax/income-tax-returns-itr-comprehensive-guide.html" target="_blank" rel="noopener" style="box-sizing:border-box;background-color:transparent;color:rgb(51,122,183);text-decoration-line:none;outline:none 0px"><strong style="box-sizing:border-box">income tax return (ITR)</strong></a> which is otherwise required to be furnished under section 139 (1) of the Income Tax Act,1961.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">In this regard, I/We_________________ , having PAN:___________ , hereby declare that I/We have duly filed our Income Tax Return for two previous years immediately preceding the previous year in which tax is required to be deducted/collected for which time limit for filing u/s 139(1) has expired and hence TDS/TCS should not be deducted/collected at a higher rate.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Details of ITR filling has been mentioned below</em></p><table width="565" style="border-collapse:collapse;border-spacing:0px;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin-top:25px;margin-bottom:20px;width:613.328px;border:1px solid rgb(221,221,221);border-radius:6px;max-width:100%;height:194px;color:rgb(68,68,68);font-size:16px"><tbody style="box-sizing:border-box"><tr style="box-sizing:border-box;color:rgb(53,52,53);background-color:rgb(249,249,249)"><td width="200" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221)"><em style="box-sizing:border-box">Assessment Year</em></td><td width="200" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top"><em style="box-sizing:border-box">Acknowledgement Number</em></td><td width="200" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top"><em style="box-sizing:border-box">Date of Filing</em></td></tr><tr style="box-sizing:border-box"><td width="200" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221)"><em style="box-sizing:border-box"> </em></td><td width="200" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top"><em style="box-sizing:border-box"> </em></td><td width="200" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top"><em style="box-sizing:border-box"> </em></td></tr><tr style="box-sizing:border-box;background-color:rgb(249,249,249)"><td width="200" style="box-sizing:border-box;padding:8px;border-left:none;border-top:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-right:1px solid rgb(221,221,221);border-bottom:1px solid rgb(221,221,221);border-radius:0px 0px 0px 6px"><em style="box-sizing:border-box"> </em></td><td width="200" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top"><em style="box-sizing:border-box"> </em></td><td width="200" style="box-sizing:border-box;padding:8px;border:1px solid rgb(221,221,221);font-size:14px;line-height:1.42857;vertical-align:top;border-radius:0px 0px 6px"><em style="box-sizing:border-box"> </em></td></tr></tbody></table><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Further, we do hereby declare that what is stated above is true and correct to the best of my/our knowledge and belief. In case there is any tax liability, interest or penalty imposed on you or your organisation on account of this representation/declaration in future, I/we undertake to fully indemnify you/organisation for the same.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Thanks,</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">For </em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Name of Authorized Signatory with Designation & Signature</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Once again please note that a declaration or undertaking is no substitute for checking if the person is a specified person from the Govt. prescribed utility.</em></strong></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">Is there any person on whom the provisions of this section do not apply?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">Yes, the provisions of this section do not apply to a non-resident who does not have a permanent establishment in India.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">Are there any payments on which tax is deducted but higher rate as per this section are not applicable?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">Yes, as mentioned earlier this section does not apply on payments of salary. Since there is no fixed rate for deduction of tax on salary.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Other than salary, this section is also not applicable on:</em></p><ul style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(68,68,68);font-size:16px;text-align:justify"><li style="box-sizing:border-box;margin-bottom:0px;margin-top:0px;color:rgb(71,80,85);line-height:1.6"><em style="box-sizing:border-box">Section 192A – Payment of accumulated balance due to an employee</em></li><li style="box-sizing:border-box;margin-bottom:0px;margin-top:0px;color:rgb(71,80,85);line-height:1.6"><em style="box-sizing:border-box">Section 194B – Winnings from lottery or crossword puzzle</em></li><li style="box-sizing:border-box;margin-bottom:0px;margin-top:0px;color:rgb(71,80,85);line-height:1.6"><em style="box-sizing:border-box">Section 194BB – Winning from a horse race</em></li><li style="box-sizing:border-box;margin-bottom:0px;margin-top:0px;color:rgb(71,80,85);line-height:1.6"><em style="box-sizing:border-box">Section 194LBC – Income in respect of investment in securitisation trust</em></li><li style="box-sizing:border-box;margin-bottom:0px;margin-top:0px;color:rgb(71,80,85);line-height:1.6"><em style="box-sizing:border-box">Section 194N – Payments of certain amount/amounts in cash</em></li></ul><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ques: </em></strong><em style="box-sizing:border-box">Where can Ifind the procedure for checking who is a specified person for the purpose of higher deduction of TDS?</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><strong style="box-sizing:border-box"><em style="box-sizing:border-box">Ans: </em></strong><em style="box-sizing:border-box">The detailed procedureis given under Notification No. 01 of 2021 issued by CBDT Directorate of income tax(systems).</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">The detailed procedure is also available on the reporting portal of the IT Deptt.(<a href="https://report.insight.gov.in">https://report.insight.gov.in</a>).</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">The output result will say if a person is a specified person for this section.</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">Specified Person <a title="u/s 206AB & 206CCA" href="https://taxguru.in/income-tax/analysis-section-206ab-section-206cca-income-tax-act-1961.html" target="_blank" rel="noopener" style="box-sizing:border-box;background-color:transparent;color:rgb(51,122,183);text-decoration-line:none;outline:none 0px"><strong style="box-sizing:border-box">u/s 206AB & 206CCA</strong></a>: The response options are Yes (PAN is a specified person as per section 206AB/206CCA as on date) or No (PAN is not a specified person as per section 206AB/206CCA as on date).</em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box"></em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box">If response is yes, then higher rate needs to be deducted and if the answer is no then TDS will be deductible at normal rates.</em></p><ul class="gmail-postMeta" style="box-sizing:border-box;margin:0px 0px 15px;padding:0px;overflow:hidden;color:rgb(68,68,68);font-size:14px"><br></ul><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><em style="box-sizing:border-box"><strong style="box-sizing:border-box;font-style:normal"><br></strong></em></p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(71,80,85);font-size:16px;line-height:1.6;text-align:justify"><b style="font-size:small;color:rgb(34,34,34)"><font color="#000099">Regards,</font></b><br></p><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><b><font color="#000099">-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333339691162px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b><br><b>For latest Updates visit Blogspot : </b><a href="http://canews1.blogspot.in/" target="_blank"><b>http://canews1.blogspot.in</b></a></div><div style="font-size:13.3333339691162px"><a href="http://www.facebook.com/?ref=home#%21/profile.php?id=100000150522567" target="_blank">http://www.facebook.com/cvpawar</a><br></div><div style="font-size:13.3333339691162px"><br></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-73828607102899675042020-07-30T16:55:00.000+05:302020-07-30T16:56:12.772+05:30Live Helpdesk initiative, taken by WIRC-ICAI on Saturday from 11.00 a.m. to 12.00 noon on online mode to cater to queries of members and students.<div dir="ltr"><div dir="ltr"><br></div><div dir="ltr"><div><div dir="ltr"><div dir="ltr"><div><div style="font-size:small;font-family:arial"><br></div></div></div></div></div><div class="gmail_quote"><br> <div> <table border="1" cellpadding="0" cellspacing="0" style="border-collapse:collapse;border:none"> <tbody> <tr> <td style="width:450.8pt;border:1pt solid windowtext;padding:0cm 5.4pt" valign="top" width="2111"> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">Dear Members & Students,<u></u><u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"><u></u> <u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">WIRC is glad to share that the Live Helpdesk has been instrumental in helping the students and members to get their issues resolved in effective manner at WIRC of ICAI.<u></u><u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"><u></u> <u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">We encourage all the members and students to seek advantage of this initiative and get resolution of their issues and matters at the earliest.<u></u><u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><b><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"><u></u> <u></u></span></b></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">Please write to us at </span><span><span style="font-size:12pt;font-family:Cambria,serif;border:1pt none windowtext;padding:0cm"><a href="mailto:wirc@icai.in" target="_blank">wirc@icai.in</a></span></span><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"> latest by Friday to enable us to take up these queries for the upcoming Live Helpdesk session.<u></u><u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"><u></u> <u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">Next Live Helpdesk session is on Saturday, 1<sup>st</sup> August, 2020 from 11.00 am to 12.00 noon!<u></u><u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"><u></u> <u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">Do share your mobile no. for easy communication.<u></u><u></u></span></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><b><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm"><u></u> <u></u></span></b></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><b><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">CA. Lalit Bajaj<u></u><u></u></span></b></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><b><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">Chairman WIRC<u></u><u></u></span></b></p> <p class="MsoNormal" style="margin-bottom:0.0001pt;text-align:justify;line-height:normal;vertical-align:baseline"><b><span style="font-size:12pt;font-family:Cambria,serif;color:black;border:1pt none windowtext;padding:0cm">Mobile no. 9867692321/9320230112<u></u><u></u></span></b></p> </td> </tr> </tbody> </table> </div> <img alt="" style="width: 1px; height: 1px;"> </div></div> </div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-56446390010611124482020-06-21T23:47:00.000+05:302020-06-21T23:48:20.669+05:30TR from DNS Bank<div dir="auto"><br><br><div data-smartmail="gmail_signature">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-77233886817086182892020-04-08T21:21:00.000+05:302020-04-08T21:22:58.330+05:30Coronavirus | Centre to immediately clear pending income tax refunds up to Rs 5 lakh<div dir="auto"><div dir="auto"><div dir="auto">Coronavirus | Centre to immediately clear pending income tax refunds up to Rs 5 lakh</div><div dir="auto"><br></div><div dir="auto">Read more from "<a href="https://www.moneycontrol.com/news/business/economy/coronavirus-centre-to-immediately-clear-pending-income-tax-refunds-up-to-rs-5-lakh-5122701.html">https://www.moneycontrol.com/news/business/economy/coronavirus-centre-to-immediately-clear-pending-income-tax-refunds-up-to-rs-5-lakh-5122701.html</a>"</div><div dir="auto"><br></div><div dir="auto">Download moneycontrol app from "<a href="http://t.in.com/21DG">http://t.in.com/21DG</a>"</div></div><div dir="auto"><br></div><div dir="auto"><br></div><br><br><div data-smartmail="gmail_signature">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-7315629742999778932020-03-23T08:52:00.001+05:302020-03-23T08:52:58.014+05:30Car_22032020 (1).pdf ROC compliance<div dir="auto"><br><br><div data-smartmail="gmail_signature">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com4tag:blogger.com,1999:blog-5127150369105694891.post-55519674638011979472020-03-19T20:07:00.001+05:302020-03-19T20:07:56.320+05:30VIVASH SE VISHWAS FORM UTILITY LIVE ON INCOME TAX PORTAL<div dir="ltr">The separate TAB/option created on income tax portal for filling of form for opting a Scheme. Log in to income tax portal using user id of assessee and file form online and submit with DSC of assessee.<div><br></div><div><br></div><div><br clear="all"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333339691162px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b></div></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-9451572405220490692020-03-19T17:40:00.000+05:302020-03-19T17:41:22.494+05:30VIVAD SE VISHWAS RULE AND FORMS<div dir="ltr">Please click here to get RULE AND FORMS for VIVAD SE VISHWAS <div><br></div><div><p class="MsoNormal" style="margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><a href="https://drive.google.com/file/d/1Jvn835oywcMsfQUZfVuaX8eQxwBvSYRh/view?usp=sharing" style="color:blue" target="_blank">https://drive.google.com/file/d/1Jvn835oywcMsfQUZfVuaX8eQxwBvSYRh/view?usp=sharing</a></p><div>CONTACT FOR HELP REQUIRED IN RELATION TO FILLING OF APPLICATION.</div><div><br clear="all"><div><div dir="ltr" data-smartmail="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333339691162px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b></div></div></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-55658191907324973832020-03-18T18:34:00.001+05:302020-03-18T18:34:57.788+05:30VIVAD-SE-VISHWAS-ACT-2020<div dir="ltr">The government has notified 'VIVAD SE VISHWAS ACT, 2020"<div><br></div><div>Please click here for the copy:</div><div> <a href="https://drive.google.com/file/d/1L2kH_xY8sTGlHjoJdAWTbizL1-136eBb/view?usp=sharing" style="font-family:Calibri,sans-serif;font-size:11pt;color:blue" target="_blank">https://drive.google.com/file/d/1L2kH_xY8sTGlHjoJdAWTbizL1-136eBb/view?usp=sharing</a></div><div><div><br></div><div>The Rule and form is yet to be notified.</div><div><br clear="all"><div><div dir="ltr" data-smartmail="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333339691162px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b><br></div></div></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-88835219335347917232020-03-10T15:48:00.001+05:302020-03-10T15:48:50.472+05:30May I get refund of excess tax paid under Vivad se Vishwas scheme?<div dir="auto">Yes. Since you get immunity from interest and penalty under this scheme in case the entire disputed tax is paid. If you have paid amount it in excess of the tax payable, You need to apply under this scheme to get the refund.<div dir="auto"><br><div data-smartmail="gmail_signature" dir="auto">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-85152446836043987142020-03-09T22:21:00.000+05:302020-03-09T22:22:06.211+05:30CBDT clarifies Calculation of Disputed Tax were Interest has been paid while in Appeal<div dir="auto"><div dir="auto"><span style="color:rgb(51,51,51);font-family:"open sans",sans-serif;font-size:medium">Minister of Finance, Ms. Nirmala Sitharaman, on February 5, 2020. The Bill provides a mechanism for resolution of pending tax disputes related to income tax and corporation tax. The CBDT said that the appeals in which the appellant has already paid the disputed demand either partly or fully are also covered. If the amount of tax paid is more than the amount payable under Vivad se Vishwas, the appellant will be entitled to refund without interest under section 244A of the Act. While considering a non-search case where an assessee is In appeal before Commissioner(Appeals). The tax on returned income (including surcharge and cess) comes to Rs. 30,000 and interest under section 234B of Rs.1,000. The assessee has paid this amount of Rs. 31,000 at the time of filing his tax return. During an assessment, an addition is made and additional demand of Rs. 16,000 has been raised, which comprises of disputed tax (including surcharge and cess) of Rs. 10,000 and interest on such a disputed tax of Rs.6000. The penalty has been initiated separately. The assessee has paid the demand of Rs. 14,000 during the pendency of the appeal; however interest under section 220 of the Act is yet to be calculated. The Assessee filed a declaration, which is accepted and the certificate is issued by the designated authority (DA). The disputed tax of Rs 10,000 (at 100%) is to be paid on or before 31″ March 2020. Since he has already paid Rs. 14,000, he would be entitled to a refund of Rs. 4,000 (without section 244A interest). Further, the interest leviable under section 220 and penalty leviable shall also be waived.</span><br style="margin:0px;padding:0px;list-style-type:none;color:rgb(51,51,51);font-family:"open sans",sans-serif;font-size:medium"><br></div><div dir="auto"><br></div><div dir="auto"><br></div><br><br><div data-smartmail="gmail_signature">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-59640404021076258602020-03-09T13:56:00.001+05:302020-03-09T13:57:48.262+05:30VIVAD SE VISHWAS STEP BY STEP PROCESS<div dir="ltr" style="text-align: left;" trbidi="on">
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CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-79815002514276697162020-03-09T12:09:00.001+05:302020-03-09T12:09:35.056+05:30FAQs on Direct Tax Vivad se Vishwas Bill, 2020<div dir="ltr"><div><div dir="ltr" data-smartmail="gmail_signature"><div dir="ltr"><div><div style="font-family:arial;font-size:small"><p align="center" style="margin:0in 0in 9.35pt;text-align:center;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;font-size:12pt;font-family:"Times New Roman",serif"><em><b><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">CBDT issues FAQs on Direct Tax Vivad se Vishwas Scheme, 2020</span></b></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">The 'Vivad se Vishwas'Scheme was announced during the Union Budget, 2020, to provide for dispute resolution in respect of pending income tax litigation. Pursuant to the Budget announcement, the Direct Tax Vivad se Vishwas Bill, 2020 (hereinafter called </span></em><strong style="box-sizing:border-box"><i><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas</span></i></strong><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">) was introduced in the Lok Sabha on 5th of February, 2020 and passed by it on 4th of March, 2020.</span></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">The objective of </span></em><strong style="box-sizing:border-box"><i><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas</span></i></strong><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> is to inter alia reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process.</span></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Subsequently, based on the representations received from the stakeholders regarding its various provisions, official amendments to </span></em><strong style="box-sizing:border-box"><i><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas </span></i></strong><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">have been proposed. These amendments seek to widen the scope of </span></em><strong style="box-sizing:border-box"><i><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas </span></i></strong><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">and reduce the compliance burden on taxpayers.</span></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">After introduction of </span></em><strong style="box-sizing:border-box"><i><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas </span></i></strong><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">in Lok Sabha, several queries have been received from the stakeholders seeking clarifications in respect of various provisions contained in the Scheme.</span></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">After considering various queries received from stakeholders, CBDT has clarified the same in the form of answers to frequently asked questions (FAQs) vide Circular No.7/2020 dated 04.03.2020.</span></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">The FAQs contain clarifications on scope/eligibility, calculation of disputed tax, procedure related to payment of disputed tax and consequential benefits to the declarant.</span></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><em style="box-sizing:border-box"><b><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">It is reiterated that these clarifications are, however, subject to approval and passing of </span></b></em><strong style="box-sizing:border-box"><i><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas</span></i></strong><em style="box-sizing:border-box"><b><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> by the Parliament and receiving assent of the Hon'ble President of India.</span></b></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <h2 align="right" style="margin:0in 0in 11.2pt;text-align:right;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;font-size:18pt;font-family:"Times New Roman",serif"><strong><span style="font-size:17pt;color:rgb(68,68,68)"> </span></strong></h2> <h2 align="right" style="margin:0in 0in 11.2pt;text-align:right;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;font-size:18pt;font-family:"Times New Roman",serif"><strong><span style="font-size:17pt;color:rgb(68,68,68)">Circular No. 7/2020</span></strong><span style="font-size:17pt;color:rgb(68,68,68)"></span></h2> <p align="center" style="margin:0in 0in 9.35pt;text-align:center;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><strong style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">F. No. IT(A)/1/2020-TPL</span></strong><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"><br style="box-sizing:border-box"> <strong style="box-sizing:border-box">Government of India</strong><br style="box-sizing:border-box"> <strong style="box-sizing:border-box">Ministry of Finance</strong><br style="box-sizing:border-box"> <strong style="box-sizing:border-box">Department of</strong>. <strong style="box-sizing:border-box">Revenue</strong><br style="box-sizing:border-box"> <strong style="box-sizing:border-box">Central Board of Direct Taxes</strong><br style="box-sizing:border-box"> ****</span></p> <p align="right" style="margin:0in 0in 9.35pt;text-align:right;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><strong style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Dated: 4</span></strong><strong><sup style="box-sizing:border-box"><span style="font-size:11pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">th</span></sup></strong><strong><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> March, 2020</span></strong><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><strong style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Sub.: Clarifications on provisions of the Direct Tax Vivad se Vishwas Bill, 2020 — reg.</span></strong><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><strong style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">During </span></strong><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">the Union Budget, 2.020 presentation, the `Vivad se<strong style="box-sizing:border-box"> </strong>Vishwas' Scheme was announced to provide for dispute resolution in respect of pending income tax litigation. Pursuant to Budget announcement., the Direct Tax <a href="https://taxguru.in/income-tax/direct-tax-vivad-se-vishwas-bill-2020.html" style="box-sizing:border-box;outline:none 0px;color:blue" target="_blank"><strong style="box-sizing:border-box"><span style="color:rgb(51,122,183);text-decoration-line:none">Vivad se Vishwas</span></strong><span style="color:rgb(51,122,183)"> </span><strong style="box-sizing:border-box"><span style="color:rgb(51,122,183);text-decoration-line:none">Bill, 2020 </span></strong><em style="box-sizing:border-box"><b><span style="color:rgb(51,122,183);text-decoration-line:none">(Vivad se Vishwas) </span></b></em><strong><span style="color:rgb(51,122,183);text-decoration-line:none">was introduced in the Lok Sabha on 5th Feb, 2020</span></strong></a><strong style="box-sizing:border-box">.</strong> The objective of <em style="box-sizing:border-box">Vivad se Vishwas </em>is to <em style="box-sizing:border-box">inter alia</em></span><em><sup style="box-sizing:border-box"><span style="font-size:11pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">–</span></sup></em><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process. Subsequently, based on the representations received from the stakeholders regarding its various provisions, official amendments to <strong style="box-sizing:border-box"><i>Vivad se Vishwas</i></strong><em> </em>have been proposed, These amendments seek to widen the scope of <em style="box-sizing:border-box"><b>Vivad se Vishwas </b></em>and reduce the compliance burden on taxpayers.</span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">2. After introduction of <strong style="box-sizing:border-box"><i>Vivad se Vishwas</i></strong><em> in </em>Lok Sabha, several queries have been received from tile stakeholders seeking clarifications in respect of various provisions contained therein. Government has considered these queries and decided to clarify the same in form of answers to frequently asked questions (F.A.Qs). These clarifications are, however, subject to approval and passing of <em style="box-sizing:border-box"><b>Vivad se Vishwas </b></em>by the Parliament and receiving assent of the Hon'ble President of India.</span></p> <p style="margin:0in 0in 9.35pt;text-align:justify;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;box-sizing:border-box;font-size:12pt;font-family:"Times New Roman",serif"><strong style="box-sizing:border-box"><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">"QUESTIONS ON SCOPE/ ELIGIBILITY (Q. No. 1 — 24)"</span></strong><span style="font-size:15pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p class="MsoNormal" style="margin:0in 0in 7.5pt;text-align:justify;line-height:normal;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:12pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></b><span style="font-size:12pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <table border="1" cellspacing="0" cellpadding="0" width="613" style="width:459.4pt;background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;border-collapse:collapse;border:none"> <tbody><tr> <td width="139" valign="top" style="width:103.9pt;border:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(53,52,53)">Question No. 1</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(53,52,53)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:1pt solid windowtext;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(53,52,53)">Which</span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(53,52,53)"> <i>appeals are covered tinder the Vivad se Vishwas?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(53,52,53)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Appeals pending before the appellate forum [Commissioner (Appeals), Income Tax Appellate Tribunal (ITAT), High Court or Supreme Court, and writ petitions pending before High Court (HQ or Supreme Court (SC) or special leave petitions (S1.,Ps) pending before SC as on the 31st day of January, 2020 (specified date) arc covered. Cases where the order has been passed but the time limit for filing appeal under the Income-tax Act, 1961 (the Act) against the order has not expired as on the specified date are also covered, Similarly, cases where objections filed by the assessce against draft order are pending with Dispute Resolution Panel (DRP) or where DRP has given the directions but the Assessing Officer (AO) has not yet passed the final order on or before the specified date are also covered. Cases where revision application under section 264 of the Act is pending before the Principal Commissioner or Commissioner are covered as well. Further, where a declarant has initiated any proceeding or given any notice for arbitration, conciliation or mediation as referred to in clause 4 of the Bill is also covered.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 2</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> If there is no appeal pending but the case is pending in arbitration, will the taxpayer be eligible to apply under Vivad se Vishwas? </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If <i>yes what will be the disputed tax? </i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">An assessee whose case is pending in arbitration is eligible to apply for settlement under Vivad se Vishwas even if no appeal is pending. In such case assessee should fill the relevant details applicable in his case in the declaration form. The disputed tax in this case would be the tax (including surcharge and cess) on the disputed income with reference to which the arbitration has been filed.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 3</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Whether Vivad se Vishwas can be availed for proceedings pending </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">b~fore <i>Authority </i>of <i>Advance Ruling (AAR)? </i>l.f <i>a writ is pending against order passed </i>by <i>AAR in a HC will that case be covered and how disputed tax to be calculated?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas is not available for disputes pending before AAR. However, if the order passed by AAR has determined the total income of an assessment year and writ against such order is pending in HC, the appellant would be eligible to apply for the Vivad se Vishwas. The disputed tax in that case shall be calculated as per the order of the AAR and accordingly, wherever required, consequential order shall be passed by the AO. However, if the order of AAR has not determined the total income, it would not be possible to calculate disputed tax and hence such cases would not be covered. To illustrate, if AAR has given a ruling that there exists Permanent Establishment (PE) in India but the AO has not yet determined the amount to be attributed to such PE, such cases cannot be covered since total income has not yet been determined.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 4</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">An appeal has been filed against the interest levied on assessed tax; however, there is no dispute against the amount of assessed tax. Can the </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">benefit <i>of the Vivad se Vishwas be availed?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Declarations covering disputed interest (where there is no dispute on tax corresponding to such interest) are eligible under Vivad se Vishwas. It may be clarified that if there is a dispnte on tax amount, and a declaration is filed for the disputed tax, the full amount of interest levied or leviable related to the disputed tax shall be waived.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 5</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">What </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">if <i>the disputed demand including interest has been paid by the appellant while being in appeal?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Appeals in which appellant has already paid the disputed demand either partly or fully are also covered. If the amount of tax paid is more than amount payable under Vivad se Vishwas, the appellant will be entitled to refund without interest under section 244A of the Act..</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 6</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Can the benefit of the Vivad se Vishwas be availed, </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">if <i>a search and seizure action by the Income-tax Department has been initiated against a taxpayer?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Case where the tax arrears relate to an assessment made under section 143(3) or section 144 or section 153A or section 153C of the Act on the basis of search initiated under section 132 or section 132A of the Act are excluded if the amount of disputed tax exceeds five crore rupees in that assessment year.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Thus, if there are 7 assessments of an assessee relating to search & seizure, out of which in 4 assessments, disputed tax is five crore rupees or less in each year and in remaining 3 assessments, disputed tax is more than five crore rupees in each year, declaration can he filed for 4 assessments where disputed tax is five crore rupees or less in each year.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 7</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If <i>assessment has been set aside for giving proper opportunity to an assessee on the additions carried out by the AO. Can he avail the Vivad se Vishwas with respect to such additions?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If an appellate authority has set aside an order (except where assessment is cancelled with a direction that assessment is to be framed de novo) to the file of the AO for giving proper opportunity or to carry out fresh examination of the issue with specific direction, the assessee would be eligible to avail </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vis/mas.</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> However, the appellant shall also be required to settle other issues, if any, which have not been set aside in that assessment and in respect of which either appeal is pending or time to file appeal has not expired. In such a case disputed tax shall be the tax (including surcharge and cess) which would have been payable had the addition in respect of which the order was set aside by the appellate authority was to be repeated by the AO.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">In such cases while filling the declaration fonn, appellant can indicate that with respect to the set-aside issues the appeal is pending with the Commissioner(Appeals).</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No. 8</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Imagine a case where an appellant desires to settle concealment penalty appeal pending </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">before <i>CIT(A), while continuing to litigate quantum appeal that has travelled to higher appellate forum. Considering these are two independent and different appeals, whether appellant can settle one to exclusion of others? </i>If <i>yes, whether settlement of penalty appeal will have any impact on quantum appeal?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If both quantum appeal covering disputed tax and appeal against penalty levied on such disputed tax for an assessment year are pending, the declarant is required to file a declaration fonn giving details of both disputed tax appeal and penalty appeal. However, he would be required to pay relevant percentage of disputed tax only. Further, it would not be possible for the appellant to apply for settlement of penalty appeal only when the appeal on disputed tax related to such penalty is still pending.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 9</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Is there any necessity that to qualify under the Vivad se Vishwas, the appellant should have tax demand in arrears as on the date of.filing declaration?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> can be availed by the appellant irrespective of whether the tax arrears have been paid either partly or fully or are Outstanding.</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 10</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Whether 234E and 234F appeals are covered? </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If appeal has been filed against imposition of fees under sections 234E or 234F of the Act, the appellant would be eligible to file declaration for disputed fee and amount payable under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">shall be 25% or 30% of the disputed fee, as the case may be.</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">If the fee imposed under section 234E or 234F pertains to a year in which there is disputed tax, the settlement of disputed tax will not settle the disputed fee. If assessee wants to settle disputed fee, he will need to settle it separately by paying 25% or 30% of the disputed fee, as the case may be.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 11</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In case where disputed tax contains qualifing tax arrears as also non-qualifying tax arrears (such as, tax arrears relating </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">10 <i>assessment made in respect of undisclosed foreign income):</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(i) <i>Whether assessee is eligible to the Vivad se Vishwas itself?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(ii) <i>If eligible, whether quantification of disputed tax can</i> <i>exclude/ignore non-qualifying tax arrears?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If the tax arrears include tax on issues that are excluded from the </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas, </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">such cases are not eligible to file declaration under </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas. </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">There is no provision under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> to settle part of a pending dispute in relation to an appeal or writ or SLP for an assessment year. For one pending appeal, all the issues are required to be settled and if anyone of the issues makes the declaration invalid, no declaration can be filed.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 12</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If a writ has been .filed against a notice issued under section </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">148 <i>of the Act and no assessment order has been passed consequent to that section </i>148 <i>notice, will such case be eligible to .file declaration under Vivad se Vishwas?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The assessee would not be eligible for </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> as there is no detennination of income against the said notice.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 13</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">With respect to interest under section 234A, 234B or 234C, there is no appeal but the assessee has filed waiver application before the competent authority which is pending as on </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">31 <i>Jan 2020? Will such cases be covered under Vivad se Vishwas?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No, such cases are not covered. Waiver applications are not appeal within the meaning of </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas.</span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 14</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Whether assessee can avail of the Vivad se Vishwas for some of the issues and not accept other issues?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Refer to answer to question no 11. Picking and choosing issues for settlement of an appeal is not allowed. With respect to one order, the appellant must chose to settle all issues and then only he would be eligible to file declaration. </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 15</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Will delay in deposit of TDSITCS be also covered under Vivad se Vishwas?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The disputed tax includes tax related to tax deducted at source (TDS) and tax collection at source (TCS) which are disputed and pending in appeal. However, if there is no dispute related to TDS or TCS and there is delay in depositing such TDS/TCS, then the dispute pending in appeal related to interest levied due to such delay will be covered under </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas.</span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 16</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Are cases pending before DRP covered? What </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">if <i>the assessee has not .filed objections with DRP and the AO has not yet passed the final order?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes, a person who has filed his objections before the DRP under section 144C of the Act and the DRP has not issued any direction on or before the specified date as well as a person in whose case the DRP has issued directions but the AO has not passed the final assessment order on or before the specified date, is eligible under </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas.</span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">It is further clarified that there could be a situation where the AO has passed a draft assessment order before the specified date. Assessee decides not to file objection with the DRP and is waiting for final order to be passed by the AO against which he can file appeal with Commissioner(Appeals). In this situation even if the final assessment order is not passed on or before the specified date, the assessee would be considered as the appellant and would be eligible to settle his dispute under </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas. </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Disputed tax in such case would be computed based on the draft order. In the declaration form, the appellant in this situation should indicate that time to file objection with DRP has not expired.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 17</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If CIT(Appeals) has given an enhancement notice, can the appellant avail the Vivad se Vishwas after including proposed enhanced income in the total assessed income?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Tbe amendment proposed in the </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">allows the declaration even in cases where CIT (Appeals) has issued enhancement noticc on or before 31 ,t January, 2020. However, the disputed tax in such cases shall be increased by the amount of tax pertaining to issues for which notice of enhancement has been issued.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 18</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Are disputes relating to wealth tax, security transaction tax, commodity transaction tax and equalisation levy covered?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No. Only disputes relating to income-tax are covered.</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 19</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The assessment order under section </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">143(3) <i>of the Act was passed in the case of an assessee for the assessment year 2015-16. The said assessment order is pending with ITAT. Subsequently another order under section </i>147/143(3) <i>was passed for the same assessment year and that is pending with CIT (Appeals)? Could both or one of the orders be settled under Vivad se Vishwas?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The appellant in this case has an option to settle either of the two appeals or both appeals for the same assessment year. If he decides to settle both appeals then he has to file only one declaration form. The disputed tax in this case would be the aggregate amount of disputed tax in both appeals.</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 20</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In a case there is no disputed tax. However, there is appeal for disputed penalty which has been disposed off by CIT (Appeals) on 5</span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">th <i>January 2020. Time to file appeal in ITAT against the order of Commissioner (Appeals) is still available but the appeal has not yet been filed. Will such case be eligible to avail the benefit?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes, the appellant in this case would also be eligible to avail the benefit of </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">. </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In this case, the tenns of availing </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">in case of disputed penalty /interest/fee are similar to tenns in case of disputed tax. Thus, if the time to file appeal has not expired as on specified date, the appellant is eligible to avail benefit of </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas. </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In this case the appellant should indicate in the declaration fonn that time limit to file appeal in ITA T has not expired.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 21</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In a case ITAT has quashed the assessment order based on lack Of jurisdiction by the AO. The department has filed an appeal in HC which is pending. Is the assessee eligible to settle this dispute under Vivad se Vishwas and </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">if <i>yes how disputed tax be calculated as there is no assessment order?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The assessee in this case is eligible to settle the department appeal in HC. The amount payable shall be calculated at half rate of 100%,110%, 125% or 135%, as the case may be, on the disputed tax that would be restored if the department was to win the appeal in HC.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 22</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> In the case of an assessee prosecution has been instituted and is pending in court. Is assessee eligible for the Vivad se Vishwas?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No. However, where only notice for initiation of prosecution has been issued with reference to tax arrears, the taxpayer has a choice to compound the offence and opt for </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas. </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 23</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If the due date of filing appeal is after 31.1.2020 the appeal has not been filed, will such case be eligible for Vivad se Vishwas?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 24</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If appeal is .filed before High Court and is pending for admission as on 31.1.2020, whether the case is eligible for Vivad se Vishwas?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 25</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In a case appeal or arbitration is pending on the specified date, but a rectification </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">is <i>also pending with the A 0 which </i>if <i>accepted will reduce the total assessed income. Will the calculation of disputed tax be calculated on rectified total assessed income? </i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The rectification order passed by the AO may have an impact on detennination of disputed tax, if there is reduction or increase in the income and tax liability of the assessee as a result of rectification. The disputed tax in such cases would be calculated after giving effect to the rectification order passed, if any.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 26</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Refer to question number </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">5. <i>How will disputed tux be calculated in a case where disputed demand including interest has been paid by the assessee while being in appeal?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Please refer to answer to question no. 5. To illustrate, consider a non search case where an assessee is In appeal before Comnissioner(Appeals). The tax on returned income (including surcharge and cess) comes to Rs. 30,000 and interest under section 234B of Rs.1,000. Assessee has paid this amount of Rs. 31,000 at the time of filing his tax return. During assessment an addition is made and additional demand of Rs. 16,000 has been raised, which comprises of disputed tax (including surcharge and cess) of Rs. 10,000 and interest on such disputed tax of Rs.6000. Penalty has been initiated separately.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Assessee has paid the demand of Rs. 14,000 during pendency of appeal; however interest under section 220 of the Act is yet to be calculated. Assessee files a declaration, which is accepted and certificate is issued by the designated authority (DA). The disputed tax of Rs 10,000 (at 100%) is to be paid on or before 31″ March 2020. Since he has already paid Rs. 14,000, he would be entitled to refund of Rs. 4,000 (without section 244A interest). Further, the interest leviable under section 220 and penalty leviable shall also be waived.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 27</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Refer to question no </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">7. <i>How will disputed tax be computed in a case where assessment has been set aside for giving proper opportunity to an assessee on the additions carried out by the AO?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Please refer to answer to question no. 7. To illustrate, return of income was filed by the asseSSee. The tax on returned income was Rs 10,000 and interest was Rs 1,000. The amount of Rs 11,000 was paid before filing the return. The AO made two additions of Rs 20,000/- and Rs 30,000/-. The tax (including surcharge and cess) on this comes to Rs 6,240/- and Rs 9,3601- and interest comes toRs.2,500 and Rs.3,500 respectively. Commissioner(Appeals) has confirmed the two additions.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">ITAT confirmed the first addition (Rs 20,000/-) and set aside the second addition (Rs 30,000/-) to the file of AO for verification with a specific direction. Assessee appeals against the order of IT AT with respect to first addition (or has not filed appeal as time limit to file appeal against the order has not expired). The assessee can avail the </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">if declaration covers both the additions. In this case the disputed tax would be the sum of disputed tax on both the additions i.e. Rs. 6240/- plus Rs. 9,360/-.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">In such cases while filling the declaration fonn, appellant can indicate that with respect to the set-aside issues the appeal is pending with the Commissioner(Appeals) .</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 28</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">What amount of tax is required to be paid, </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">if <i>an assessee wants to avail the </i>benefit <i>of the Vivad se Vishwas?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Under the </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">, </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">declarant is required to make following payment for settling disputes:</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">A. In appeals / writ / SLP / DRP objections / revision application under section 264 / arbitration filed by the assessee –</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(a) In case payment is made till 31″ March, 2020-</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(i) 100% of the disputed tax (125% in search cases) where dispute relates to disputed tax (excess amount over 100% limited to the amount of interest and penalty levied or leviable), or</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(ii) 25% of the disputed penalty, interest or fee where dispute relates to disputed penalty, interest or fee only.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(b) In case payment is made after 31 st March, 2020 –</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(i) 110% of the disputed tax (135% in search cases) where dispute relates to disputed tax (excess amount over 100% limited to the amount of interest and penalty), or</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(ii) 30% of the disputed penalty, interest or fee in case of dispute related to disputed penalty, interest or fee only.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">However, if in an appeal before Commissioner(Appeals) or m objections pending before DRP, there is an issue on which the appellant has got favourable decision from ITAT (not reversed by HC or SC) or from the High Court (not reversed by SC) in earlier years then the amount payable shall be half or 50% of above amount.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Similarly, if in an appeal before IT AT, there is an issue on which the appellant has got favourable decision from the High Court (not reversed by SC) in earlier years then the amount payable shall be half or 50% of above amount.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">B. In appeals Iwrit 1 SLP filed by the Department –</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(a) In case payment is made till 31 "March, 2020-</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(i) 50% of the disputed tax (62.5% in search cases) in case of dispute related to disputed tax or</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(ii) 12.5% of the disputed penalty, interest or fee in case of dispute related to disputed penalty, interest or fee only.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(b) In case payment is made after 31″' March, 2020 –</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(i) 55% of the disputed tax (67.5% in search cases) in cases of dispute related to disputed tax, or</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">(ii) 15% of the disputed penalty, interest or fee in case of dispute related to disputed penalty, interest or fee only.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 29</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Whether credit for earlier taxes paid against disputed tax will be available against the payment to be made under Vivad se Vishwas?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The amount payable by the declarant under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">shall be detennined by the DA under clause 5. Credit for taxes paid against the disputed tax before filing declaration shall be available to the declarant. Please refer to example at question no. 26 above. If in that example against disputed tax ofRs. 10,000 an amount of Rs. </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">8,000/- </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">has already been paid, the appellant would be required to pay only the remaining Rs. </span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">2,0001- </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">by 31″' March 2020.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 30</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where assessee settles TDS appeal or withdraws arbitration (against order U/S 201) as deductor of TDS, will credit of such tax be allowed to deductee?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In such cases, the deductee shall be allowed to claim credit of taxes in respect of which the deductor has availed of dispute resolution under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas. </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">However, the credit will be allowed as on the date of settlement of dispute by the deductor and hence the interest as applicable to deductee shall apply.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 31</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where assessee settles TDS liability as deductor of TDS under Vivad se Vishwas (i.e against order u/s 201), when will he get consequential relief of expenditure allowance under proviso to section 40(a)(i)/(ia)?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In such cases, the deductor shall be entitled to get consequential relief of allowable expenditure under proviso to section 40(a)(i)/(ia) in the year in which the tax was required to be deducted.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">To illustrate, let us assume that there are two appeals pending; one against the order under section 201 of the Act for non-deduction of TDS and another one against the order under section 143 (3) of the Act for disallowance under section 40(a)(i)/(ia) of the Act. The disallowance under section 40 is with respect to same issue on which order under section 20 I has been issued. If the dispute is settled with respect to order under section 20 I, assessee will not be required to pay any tax on the issue relating to disallowance under section 40(a)(i)/(ia) of the Act, in accordance with the provision of section 40(a)(i)/(ia) of the Act.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">In case, in the order under section 143(3) there are other issues as well, and the appellant wants to settle the dispute with respect to order under section 143(3) as well, then the disallowance under section 40(a)(i)/(ia) of the Act relating to the issue on which he has already settled liability under section 201 would be ignored for calculating disputed tax.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">If the assessee has challenged the order under section 20 I on merits and has won in the Supreme Court or the order of any appellate authority below Supreme Court on this issue in favour of the assessee has not been challenged by the Department on merit (not because appeal was not filed on account of monetary limit for filing of appeal as per applicable CEDT circular), then in a case where disallowance under section 40(a)(i)/(ia) of the Act is in consequence of such order under section 20 I and is part of disputed income as per order under section 143(3) in his case, such disallowance would be ignored for calculating disputed tax, in accordance with the proviso to section 40(a)(i)/(ia) of the Act.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">It is clarified that if the assessee has made payment against the addition representing section 40(a)(i)/(ia) disallowance, the assessee shall not be entitled to interest under section 244A of the Act on amount refundable, if any, under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Vivad se Vishwas,</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">It is further clarified that if the assessee wish to settle disallowance under section 40(a)(i)/(ia) in a search case on the basis of settlement of the dispute under section 201, he shall be required to pay higher amount as applicable for search cases for settling dispute in respect of that TDS default under section 201.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 32</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">When assessee settles his own appeal or arbitration under Vivad se Vishwas, will consequential </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">reli~f <i>be available to the deductor in default from liability determined under TDS order U/S 201?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">When an assessee (being a person receiving an income) settles his own appeal or arbitration under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">and such appeal or arbitration is with reference to assessment of an income which was not subjected to TDS by the payer of such income (deductor in default) and an order under section 201 of the Act has been passed against such deductor in default, then such deductor in default would not be required to pay the corresponding TDS amount. However, he would be required to pay the interest under sub-section (IA) of section 201 of the Act. If such levy of interest under sub-section (IA) of section 201 qualifies for </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">, </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">the deductor in default can settle this dispute at 25% or 30% of the disputed interest, as the case may be, by filing up the relevant schedule of disputed interest.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 33</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where DRP order passed on or after 1st July, 2012 and before 1st June, 2016 have given relief to assessee and Department has filed appeal, how assessed tax to be calculated?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If department appeal is required to be settled, then against that appeal the appellant is required to pay only 50% of the amount that is otherwise payable if it was his appeal.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 34</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Appeals against assessment order and against penalty order are filed separately on same issue. Hence there are separate appeals for both. In such a case how dis puled tax to be calculated?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Please see question no. 8. Further, it is clarified that if the appellant has both appeal against assessment order and appeal against penalty relating to same assessment pending for the same assessment year, and he wishes to settle the appeal against assessment order (with penalty appeal automatically covered), he is required to give details of both appeals in one declaration form for that year. However, in the annexure he is required to fill only the schedule relating to disputed tax.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 35</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If there is substantive addition as well as protective addition in the case of same assessee for different assessment year, how </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">will <i>that be covered? Similarly </i>if <i>there is substantive addition in case of one assessee and protective addition on same issue in the case o</i>f <i>another assessee, how will that be covered under Vivad se Vishwas?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If the substantive addition is eligible to be covered under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">, </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">then on settlement of dispute related to substantive addition AO shall pass rectification order deleting the protective addition relating to the same issue in the case of the assessee or in the case of another assessee.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 36</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In a case ITAT has passed order giving relief on two issues and confirming three issues. Time to file appeal has not expired as on specified date. The taxpayer wishes to file declaration for the three issues which have gone against him. What about the other two issues as the taxpayer is not sure </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">if <i>the department will file appeal or not? </i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">allow declaration to be filed even when time to file appeal has not expired considering them to be a deemed appeal. </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">also envisages option to assessee to file declaration for only his appeal or declaration for department appeal or declaration for both. Thus, in a given situation the appellant has a choice, he can only settle his deemed appeal on three issues, or he can settle department deemed appeal on two issues or he can settle both. If he decides to settle only his deemed appeal, then department would be free to file appeal on the two issues (where the assessee has got relief) as per the extant procedure laid down and directions issued by the CBDT.</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 37</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">There is no provision for 50% concession in appeal pending in HC on an issue where the assessee has got relief on that issue from the SC?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If the appellant has got decision in his favour from SC on an issue, there is no dispute now with regard to that issue and he need not settle that issue. If that issue is part of the multiple issues, the disputed tax may be calculated on other issues considering nil tax on this issue.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 38</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Addition was made u/s </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">143(3) <i>on two issues whereas appeal.filed only for one addition. Whether interest and penalty be waived for both additions.</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">, </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">interest and penalty will be waived only in respect of the issue which is disputed in appeal and for which declaration is filed. Hence, for the undisputed issue, the tax, interest and penalty shall be payable,</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 39</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">DRP has issued directions cOl1;firming all the proposed additions in the draft order and the A </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">0 <i>has passed the order accordingly. The issues confirmed by DRP include an issue on which the taxpayer has got favourable order from ITAT (not reversed by HC or SC) in an earlier year. The time limit to,file appeal in ITAT </i>is <i>still available. The taxpayer is eligible for Vivad se Vishwas treating the situation as taxpayer's deemed appeal in ITAT. In this case how will disputed tax be calculated? Will it be 100% on the issue allowed by ITAT in earlier years or 50%?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In this case, on the issue where the taxpayer has got relief from ITAT in an earlier year (not reversed by He or SC) the disputed tax shall be computed at half of normal rate of 100%, 110%, 125% or 135%, as the case maybe.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 40</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where there are two appeals filed for an assessment year– one by the appellant and one by the tax department, whether the appellant can opt for only one appeal? If yes, how would the disputed tax be computed?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The appellant has an option to opt to settle appeal filed by it or appeal filed by the department or both. Declaration fonn is to be filed assessment year wise i.e. only one declaration for one assessment year.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">For different assessment years separate declarations have to be filed. So the appellant needs to specify in the declaration fonn whether he wants to settle his appeal, or department's appeal in his case or both for a particular assessment year. The computation of tax payable would be carried out accordingly.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 41</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">How much time shall be available for paying the taxes after filing a declaration under the Vivad se Vishwas?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">As per clause 5 of </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas, </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">the DA shall determine the amount payable by the declarant within fifteen days from the date of receipt of the declaration and grant a certificate to the declarant containing particulars of the tax-arrear and the amount payable after such detennination. The declarant shall pay the amount so detennined within fifteen days of the date of receipt of the certificate and intimate the details of such payment to the DA in the prescribed form.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Thereafter, the DA shall pass an order stating that the declarant has paid the amount. It may be clarified that 15 days is outer limit. The DAs shall be instructed to grant a certificate at an early date enabling the appellant to pay the amount on or before 31 st March, 2020 so that he can take benefit of reduced payment to settle the dispute.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 42</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If taxes are paid after availing the benefits of the Vivad se Vishwas and later the taxpayer decides to take refund of these taxes paid, would it be possible?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No. Any amount paid in pursuance of a declaration made under the </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">shall not be refundable under any circumstauces.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 43</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where appeals are withdrawn from the appellate forum, and the declarant is declared to be ineligible under the Vivad se Vishwas by DA at the stage of determination of amount payable under section 5(1) or, amount determined by DA is at variance of amount declared by declarant and declarant is not agreeable to DA's determination of amount payable, then whether the appeals are automatically reinstated or a separate application needs to be filed for reinstating the appeal before the appellate authorities</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Under the amended procedure no appeal is required to be withdrawn before the grant of certificate by DA. After the grant of certificate by DA under clause 5, the appellant is required to withdraw appeal or writ or special leave petition pending before the appellant forum and submit proof of withdrawal with intimation of payment to the DA as per the same clause. Where assessee has made request for withdrawal and such request is under process, proof of request made shall be enclosed.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">Similarly in case of arbitration, conciliation or mediation, proof of withdrawal of arbitration/conciliation/mediation is to be enclosed along with intimation of payment to the DA.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 44</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Clause </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">5(2) <i>requires declarant to pay amount determined by DA within </i>15 <i>days of receipt of cenificate from DA. Clarification is equired on whether declarant is to also intimate DA about fact of having made payment pursuant to declaration within the period of 15 days?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">As per clause 5(2), the declarant shall pay the amount detemined under clause 5(1) within fifteen days of the date of receipt of the certificate and intimate the details of such payment to the DA in the prescribed fonn and thereupon the DA shall pass an order stating that the declarant has paid the amount.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 45</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Will ])A also pass order granting expressly, immunity from levy of interest and penalty by the A </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">() <i>as well as immunity from prosecution?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">As per clause 6, subject to the provisions of clause 5, the DA shall not institute any proceeding in respect of an offence; or impose or levy any penalty; or charge any interest under the Income-tax Act in respect of tax arrears. This shall be reiterated in the order under section 5(2) passed by DA.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 46</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Whether ])A can amend his order to rectify any patent errors?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes, the DA shall be able to amend his order under clause 5 to rectify any apparent errors.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 47</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where tax determined by DA is not acceptable can appeal be filed against the order of designated authority before [ITAT, High Court or Supreme Court?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No. As per clause 4(7), no appellate forum or arbitrator, conciliator or mediator shall proceed to decide any issue relating to the tax arrears mentioned in the declaration in respect of which order is passed by the DA or the payment of sum determined by the DA.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 48</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">There is no provision for withdrawal of appeal/writ/SLP by the department on settlement of dispute </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">On intimation of payment to the DA by the appellant pertaining to department appeal/writ/SLP, the department shall withdraw such appeal/writ/SLP.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Q</span></b><b><span style="font-size:10.5pt;color:rgb(68,68,68)">uestion No. 49</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Once declaration is filed under Vivad se Vishwas, and for financial difficulties, payment is not made accordingly, will the declaration be null and void?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes it would be void.</span><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 50</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Where the demand in case of an assessee has been reduced partly or fully by giving appeal effect to the order of appellate forum, how would the umount payable under Vivad se Vishwas be adjusted?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">In such cases, after getting the proof of payment of the amount payable under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas, </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">the AO shall pass order under the relevant provisions of </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">to create demand in case of assessee against which the amount payable shall be adjusted.}</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 51</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Will/here be immunity from prosecution?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes, clause 6 provides for immunity from prosecution to a declarant in relation to a tax arrears for which declaration is filed under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas </span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">and in whose case an order is passed by the DA that the amount payable under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">has been paid by the declarant.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 52</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Will the result of this Vivad se Vishwas be applied /0 ,mme issues</span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> <i>pending before AO?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">No, only the issues covered in the declaration are settled in the dispute without any prejudice to same issues pending in other cases. It has been clarified that malcing a declaration under this Act shall not amount to conceding the tax position and it shall not be lawful for the income-tax authority or the declarant being a part in appeal or writ or in SLP to contend that the declarant or the income-tax authority, as the case may be, has acquiesced in the decision on the disputed issue by settling the dispute.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 53</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If loss is not allowed to be adjusted while calculating disputed tax, will that loss be allowed to be carried forward?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">As per the amendment proposed in </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">, </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">in a case where the dispute in relation to an assessment year relates to reduction of Minimum Alternate Tax (MAT) credit or reduction of loss or depreciation, the appellant shall have an option either to (i) include the amount of tax related to such MAT credit or loss or depreciation in the amount of disputed tax and carry forward the MAT credit or loss or deprecation or (ii) to carry forward the reduced tax credit or loss or depreciation. CBDT will prescribe the manner of calculation in such cases.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 54</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">If the taxpayer avails Vivad se Vishwas for Transfer Pricing adjustment, will provisions of section 92CE of the Act apply separately?</span></i></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Yes, secondary adjustment under section 92CE will be applicable.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(71,80,85)">However, it may bc noted that the provision of secondary adjustment as contained in <a href="https://taxguru.in/income-tax/section-92ce-introduction-secondary-adjustment.html" style="color:blue" target="_blank"><b><span style="color:rgb(51,122,183);text-decoration-line:none">section 92CE</span></b></a> of the Act is not applicable for primary adjustment made in respect of an assessment year commencing on or before the l"t day of April 2016. That means, if there is any primary adjustment for assessment year 2016-17 or earlier assessment year, it is not subjected to secondary adjustment under section nCE of the Act.</span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Question No. 55</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;background:rgb(249,249,249);padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">The appellant has settled the dispute under Vivad se Vishwas in an assessment year. Whether </span></i></b><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">it <i>is open for Revenue to take a stand that the additions have been accepted by the appellant and hence he cannot dispute </i>it <i>in future assessment years?</i></span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> </tr> <tr> <td width="139" valign="top" style="width:103.9pt;border-right:1pt solid windowtext;border-bottom:1pt solid windowtext;border-left:1pt solid windowtext;border-top:none;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Answer:</span></b><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"></span></p> </td> <td width="474" valign="top" style="width:355.5pt;border-top:none;border-left:none;border-bottom:1pt solid windowtext;border-right:1pt solid windowtext;padding:6pt"> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Please refer answer to question no 52. It has been clarified in Explanation to clause 5 that making a declaration under </span><b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">Vivad se Vishwas</span></i></b><i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)"> </span></i><span style="font-size:10.5pt;font-family:Arial,sans-serif;color:rgb(68,68,68)">shall not amount to conceding the tax position and it shall not be lawful for the income-tax authority or the declarant being a part in appeal or writ or in SLP to contend that the declarant or the income tax authority, as the case may be, has acquiesced in the decision on the disputed issue by settling the dispute.</span></p> </td> </tr> </tbody></table> <p class="MsoNormal" style="margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><strong><span style="font-size:15pt;line-height:115%;font-family:Arial,sans-serif;color:rgb(71,80,85);background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial">(Ankur Goyal)</span></strong><span style="font-size:15pt;line-height:115%;font-family:Arial,sans-serif;color:rgb(71,80,85)"><br style="box-sizing:border-box"> <strong style="box-sizing:border-box"><span style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial">Under Secretary to the Govt. of India</span></strong></span></p></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-69071420226644723842020-03-09T11:58:00.001+05:302020-03-09T11:58:57.987+05:30Amended Direct Tax Vivad se Vishwas Bill, 2020. <div dir="auto"><br><div dir="auto">Amended Direct Tax Vivad se Vishwas Bill, 2020. </div><div dir="auto"><br></div><div dir="auto">BACKGROUND</div><div dir="auto">• Presently, a large number of Income-tax appeals are pending at various levels of adjudication namely, Commissioner (Appeals), Income Tax Appellate Tribunal (ITAT), High Courts, and Supreme Court. These appeals have been filed by taxpayers as well the Department.</div><div dir="auto"> </div><div dir="auto">• Due to the fact that every year more appeals are filed than are disposed, the pendency at the various levels of adjudication keeps on increasing.</div><div dir="auto"> </div><div dir="auto">• As on 30th November, 2019, there are about Four lakh Eighty-three thousand (4,83,000) appeals pending at various levels. Tax arrears to the tune of about Nine lakh Thirty-two thousand crore rupees (Rs. 9.32 lakh crore) are locked up in these appeals.</div><div dir="auto"> </div><div dir="auto">• The tax arrears will not translate into revenue for the Government till such time the taxpayer or the Department has exhausted all the options under the Income-tax Act to appeal. It can take years due to multiple levels available for appeal. Tax disputes consume a large part of resources both on the part of Government as well as taxpayers and also deprive the Government of the timely collection of revenue.</div><div dir="auto"> </div><div dir="auto">• It is felt that there is an urgent need to provide for resolution of pending Income-tax disputes. This will not only benefit the Government by generating timely revenue but also the taxpayers who will gain by deploying the savings on account of time and resources towards their business activities.</div><div dir="auto">Direct Tax Vivad se Vishwas Bill, 2020 & Notice for amendments</div><div dir="auto">• Direct Tax Vivad se Vishwas Bill, 2020 has been introduced in the parliament on 5th February, 2020. After introduction of the Bill, suggestions from various stakeholders have been received. Based on these representations, certain amendments to the provisions of the Bill have been approved by the Cabinet in its meeting dated 12th February, 2020. Notice for these amendments after obtaining the recommendation of the Hon'ble President has been given to the Parliament on 14th February, 2020.</div><div dir="auto"> </div><div dir="auto"> </div><div dir="auto">SALIENT FEATURES OF THE BILL WITH THE AMENDMENTS PROPOSED IN NOTICE</div><div dir="auto">KEY DATES</div><div dir="auto">• Start date: Date on which the provisions of the Bill comes into force</div><div dir="auto">• Last date: Date to be notified by the Government</div><div dir="auto">• Pay by 31st March, 2020 to avoid higher payment</div><div dir="auto">ELIGIBILITY</div><div dir="auto">• Appeals/writs filed on or before 31.01.2020 are eligible</div><div dir="auto">• Orders for which time for filing appeal has not expired on 31.01.2020</div><div dir="auto">• Case pending before Dispute Resolution Panel (DRP) on 31.01.2020</div><div dir="auto">• Cases where DRP issued direction on or before 31.01.2020 but no order has been passed</div><div dir="auto">• Cases where assessee filed revision (Section 264) on or before 31.01.2020</div><div dir="auto">• Search case if the disputed demand is less than Rs. 5 Crore</div><div dir="auto">DISPUTES COVERED</div><div dir="auto">• All disputes, subject to some exclusion, in relation to the -</div><div dir="auto">(i) Disputed tax</div><div dir="auto">(ii) Disputed penalty</div><div dir="auto">(iii) Disputed interest</div><div dir="auto">(iv) Disputed Fee</div><div dir="auto">(iv) Disputed tax deducted at source (TDS) or tax collected at source (TCS)</div><div dir="auto">• The appeals/writs filed by taxpayers or the department are eligible</div><div dir="auto">• Disputes where the payment has already been made shall also be eligible</div><div dir="auto">PAYMENT TERMS</div><div dir="auto">A. If the appeal is filed by the taxpayer</div><div dir="auto">• In case payment is made till 31st March, 2020 - Declarant will need to pay-</div><div dir="auto">(i) 100% of the disputed tax (125% of disputed tax in case of search cases) – Penalty & interest shall be waived</div><div dir="auto">(ii) 25% of the disputed penalty, interest or fee in case dispute relates to disputed penalty, interest or fee only – Balance 75% shall be waived.</div><div dir="auto"> </div><div dir="auto"> </div><div dir="auto">• In case payment is made after 31st March, 2020 - Declarant will need to pay-</div><div dir="auto">(i) 110% of the disputed tax (135% of disputed tax in case of search cases) – Penalty & interest shall be waived </div><div dir="auto">(ii) 30% of the disputed penalty, interest or fee in case dispute relates to disputed penalty, interest or fee only – Balance 70% shall be waived.</div><div dir="auto"> B. If the appeal is filed by the Department or the department has lost on an issue</div><div dir="auto">• In case payment is made till 31st March, 2020 - Declarant will need to pay-</div><div dir="auto">(i) 50% of the disputed tax (62.5% of disputed tax in case of search cases) – Penalty & interest shall be waived</div><div dir="auto">(ii) 12.5% of the disputed penalty, interest or fee in case of appeals related to disputed penalty, interest or fee only – Balance 87.5% shall be waived</div><div dir="auto">• In case payment is made after 31st March, 2020 - Declarant will need to pay-</div><div dir="auto">(i) 55% of the disputed tax (67.5% of disputed tax in case of search cases) – Penalty & interest shall be waived </div><div dir="auto">(ii) 15% of the disputed penalty, interest or fee in case of appeals related to disputed penalty, interest or fee only– Balance 85% shall be waived.</div><div dir="auto">EXCLUSIONS</div><div dir="auto">The cases excluded from the Scheme are cases –</div><div dir="auto">(i) Search case if disputed tax is more than Rs. 5 crore</div><div dir="auto">(ii) Prosecution cases under the Income-tax Act or IPC filed by the Department</div><div dir="auto">(iii) Cases relating to undisclosed foreign income and assets</div><div dir="auto">(iv) Cases completed on the basis of information from foreign countries</div><div dir="auto">(iv) Cases covered under Narcotic Drugs and Psychotropic Substances Act, Special Courts Act, the Unlawful Activities (Prevention) Act, 1967, the Prevention of Corruption Act, the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974, the Prevention of Money Laundering Act, 2002 or the Prohibition of Benami Property Transactions Act, 2016.</div><div dir="auto"> </div><div dir="auto">CONSEQUENCES</div><div dir="auto">• Consequent to such declaration and fulfillment of conditions, appeals/writs/objections of taxpayers & department in respect of the disputed income, disputed interest or disputed penalty or disputed fee pending before the Commissioner (Appeals), DRP, ITAT, High Court or Supreme Court shall be withdrawn.</div><div dir="auto">• Immunity will be granted from institution of any proceeding for prosecution for any offence under the Income-tax Act in respect of matters covered in the declaration and also provide immunity from imposition of penalty and levy of interest.</div><div dir="auto">• Filing of declaration will not set any precedence and neither the Department nor the taxpayer can claim in any other proceedings that the taxpayer or the Department has conceded its tax position by settling the dispute.</div><div dir="auto"> </div><div dir="auto">REFUND OF EXCESS AMOUNT</div><div dir="auto">• If the amount paid by taxpayer before filing declaration exceeds the amount payable under the Scheme, the taxpayer would be granted the refund for such excess amount.</div><div dir="auto"> </div><div dir="auto">REMOVAL OF DIFFICULTY</div><div dir="auto">• If any difficulty arises in giving effect to the provisions of this Scheme, the Central Government may by order not inconsistent with the provisions of this Scheme remove the difficulty.</div><div dir="auto"> </div><div dir="auto">DELEGATED LEGISLATION</div><div dir="auto">• The Central Government may notify rules for carrying out the provisions of this Scheme.</div><div dir="auto">• The Central Board of Direct Taxes has been given powers to issue such orders, instructions and directions to the income-tax authorities for the proper administration of this Bill.</div><div dir="auto"> </div><div dir="auto">OTHERS</div><div dir="auto">• The limit of disputed tax of Rs. 5 crore for filing declaration in a search case shall be computed year wise. Hence, in a search case where the aggregate disputed tax for two or more years exceeds Rs 5 crore, a person can file declaration for those years in which the disputed tax does not exceed Rs. 5 Crore.</div><div dir="auto">• If there are more than one issues involved in the appeal, the taxpayer would be required to file declaration for all issues, he cannot file declaration for some issues and litigate the balance issues.</div><div dir="auto">• In a case where the taxpayer has got a favourable decision on an issue at higher forum, he would be required to pay only 50% of disputed tax on that issue even in the cases in which he has filed appeal.</div><div dir="auto">• The taxpayer would be required to submit the proof of withdrawal of appeal/writ with the intimation of payment i.e. before the issuance of final certificate for settling dispute and not with the declaration as originally proposed in the Bill. The department would also withdraw the appeal/writ before the issuance of final certificate for settling dispute.</div><div dir="auto">• In case where the Assessing Officer has reduced the returned loss by making addition of income/disallowing expenditure, the taxpayer shall have an option to either pay the notional tax on amount by which the loss has been reduced and carry forward the claimed loss without reduction or by accepting the reduced carry forward of loss without making any payment under the Scheme. Same mechanism would apply for reduction in MAT credit.</div><div dir="auto">• The settling of dispute regarding transfer pricing adjustment would not have any effect on the secondary adjustment, both being independent provisions, and the taxpayer would be required to repatriate fund to India in respect of settled transfer pricing adjustment.</div><div dir="auto"> </div><div dir="auto">*********</div><div data-smartmail="gmail_signature">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-70759992160813628122020-02-12T15:32:00.001+05:302020-02-12T15:32:53.688+05:30CA Nihar Jambusaria has been declared as VP of ICAI for 2020-21.<div dir="auto"><div dir="auto">*ICAI News update*</div><div dir="auto">CA Atul Gupta Ji has been declared as President of ICAI for 2020-21</div><div dir="auto"><br></div><div dir="auto">CA Nihar Jambusaria has been declared as VP of ICAI for 2020-21.</div><br><div data-smartmail="gmail_signature">-Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-29485292913711954602019-12-20T11:45:00.001+05:302019-12-20T11:45:58.610+05:30GST Rate on Bags - HS 3923/6305<div dir="ltr"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><span style="font-family:verdana,sans-serif">GST rate on Woven and Non-Woven Bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of goods ( HS code 3923/6305) in view of the requests received post the changes recommended on such goods in last meeting and recommended to raise the GST to a uniform rate of 18% (from 12%) on all such bags falling under HS 3923/6305 including Flexible Intermediate Bulk Containers (FIBC). </span><br></div></div></div></div><div class="gmail_quote"><div dir="ltr"><div style="font-family:verdana,sans-serif"><div style="font-family:verdana,sans-serif"><b><br></b></div><div style="font-family:verdana,sans-serif"><b>This change shall become effective from 1<sup>st</sup> January, 2020. </b></div> </div><div><div dir="ltr" data-smartmail="gmail_signature"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><p><b><font color="#000099">Regards,</font></b><br></p><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><div><b><font color="#000099">-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b><br><b>For latest Updates visit Blogspot : </b><a href="http://canews1.blogspot.in/" target="_blank"><b>http://canews1.blogspot.in</b></a></div><div style="font-size:13.3333px"><a href="http://www.facebook.com/?ref=home#%21/profile.php?id=100000150522567" target="_blank">http://www.facebook.com/cvpawar</a><br></div><div style="font-size:13.3333px"><br></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div> </div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-81225369653548235052019-12-05T13:19:00.001+05:302019-12-05T13:19:36.448+05:30New Utility for GSTR 9 & GSTR 9C would be available by 10.12.2019<div dir="ltr"><table border="0" cellpadding="0" cellspacing="0" width="100%" id="gmail-m_-531421622537270671emailContainer" style="border-collapse:collapse;table-layout:fixed;max-width:460px;width:460px;font-family:Roboto,RobotoDraft,Helvetica,Arial,sans-serif"><tbody><tr><td align="center" valign="top"><table border="0" cellpadding="0" cellspacing="0" width="100%" id="gmail-m_-531421622537270671emailBackground" style="border-collapse:collapse;table-layout:fixed"><tbody><tr><td align="center" valign="top" id="gmail-m_-531421622537270671headingContent" style="padding:0px 24px 24px"><h1 style="font-size:26px;font-weight:400;letter-spacing:0.2px;line-height:32px;font-family:"Helvetica Neue",Helvetica,Verdana,sans-serif;margin:0px;padding:0px">GSTN: New Utility for GSTR 9 & GSTR 9C would be available by 10.12.2019</h1></td></tr><tr><td align="center" valign="top" id="gmail-m_-531421622537270671imageContent"><img src="https://gallery.mailchimp.com/d715b31885b16801cd8fb0a84/images/205ac5d7-feb4-4ba8-a761-76ed3f9af6af.jpg" alt="" width="100%" id="gmail-m_-531421622537270671emailImage" class="gmail-CToWUd gmail-a6T" tabindex="0" style="cursor: pointer; outline: none; border: 0px; height: auto; width: 460px; display: block;"></td></tr><tr><td align="left" valign="top" style="background:rgb(34,34,34)"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;table-layout:fixed"><tbody><tr><td valign="top" style="padding-bottom:15px"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;table-layout:fixed"><tbody><tr><td align="left" valign="top" id="gmail-m_-531421622537270671bodyContent" style="font-family:"Helvetica Neue",Helvetica,Verdana,sans-serif;font-size:16px;line-height:24px;padding:24px 24px 30px;color:rgb(242,242,242)">Annual Return (GSTR-9) and the Reconciliation Statement (GSTR-9C)<br>28/11/2019<br><br>"Government has made some changes in the forms of Annual Return (GSTR-9) and the Reconciliation Statement (GSTR-9C) vide Notification No. 56/2019 dated 14.11.2019. Accordingly, the changes in the application software and the offline tools are likely to be made available by 10th Dec. 2019."</td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td align="center" valign="top" id="gmail-m_-531421622537270671footerContent" style="font-family:"Helvetica Neue",Helvetica,Arial,sans-serif;font-size:12px;line-height:20px;padding:20px;text-align:center;color:rgb(143,143,143)"><br></td></tr></tbody></table><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br></font></b></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-45195722310024819542019-12-02T19:15:00.001+05:302019-12-02T19:15:40.028+05:30GST -Rcm - Rent a Cab<div dir="ltr"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><span style="font-family:Verdana,sans-serif;font-size:11pt">Dear All</span><br></div></div></div></div><div class="gmail_quote"><div dir="ltr"><div style="font-family:verdana,sans-serif"><div style="font-family:verdana,sans-serif"><p class="MsoNormal" style="margin:0in 0in 0.0001pt;line-height:normal;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif"> <span></span></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif">RCM - Rent - Cab includes hiring of<b> Buses</b>:<span></span></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif"><span> </span></span></p> <ul style="margin-top:0in;margin-bottom:0in" type="disc"><li class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;vertical-align:middle;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif">If rent a cab operator is a (proprietor/partnership firm) and he is billing to a (proprietor/partnership) or any other <b><span style="color:red">non</span></b>-corporate entity, then he would continue to charge 5% GST in his bill. RCM provisions do not apply in this scenario. <span></span></span></li></ul> <p class="MsoNormal" style="margin:0in 0in 0.0001pt 27pt;text-align:justify;line-height:normal;vertical-align:middle;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif"><span> </span></span></p> <ul style="margin-top:0in;margin-bottom:0in" type="disc"><li class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;vertical-align:middle;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif">In case rent a cab operator (being proprietor or partnership firm) adds 5% GST in his bill to a (private limited company or public limited company), the company need not reimburse GST portion to the cab operator. Instead the company should pay 5% GST on their own as RCM liability.</span><span style="font-family:"Arial",sans-serif"></span></li></ul><p class="MsoNormal" style="margin:0in 0in 0.0001pt 27pt;text-align:justify;line-height:normal;vertical-align:middle;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif"><span> </span></span></p> <ul style="margin-top:0in;margin-bottom:0in" type="disc"><li class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;vertical-align:middle;font-size:11pt;font-family:"Calibri",sans-serif"><span style="font-family:"Verdana",sans-serif">In case rent a cab operator is not registered in GST, the private limited company or public limited company in receipt of cab services should still pay 5% GST under RCM <span></span></span></li></ul> </div><div><div dir="ltr"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div dir="ltr"><div dir="ltr"><p><a name="m_-35220846344906314_SignatureSanitizer_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter__MailAutoSig"></a></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div> <p><a name="m_-35220846344906314_SignatureSanitizer_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter__MailAutoSig"><font size="2" face="verdana, sans-serif"><span class="gmail_default" style="font-family:verdana,sans-serif"></span></font></a></p> </div><div><div dir="ltr" data-smartmail="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div dir="ltr"><div dir="ltr"><p><a name="m_-35220846344906314_SignatureSanitizer_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter__MailAutoSig"><font size="2" face="verdana, sans-serif"><br></font></a></p><p><br clear="all"></p><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b></div></div><div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div> </div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-73154467140637829862019-08-02T08:17:00.001+05:302019-08-02T08:17:51.110+05:30What are some of the mistakes of Indians that are destroying their financial lives?<div dir="auto"><br><div data-smartmail="gmail_signature"><div dir="auto">What are some of the mistakes of Indians that are destroying their financial lives?</div><div dir="auto"><br></div><div dir="auto">(Sharing Excellent compilation of investment thoughts I've received on WhatsApp)</div><div dir="auto"><br></div><div dir="auto">*Buying insurance policies for investment purpose*: Have you invested your money in insurance plan to get a return in future? Big mistake! Out of 100 people I have spoken, 95 have made this mistake.. Very few people understand the difference between term plan, endowment plan, etc.</div><div dir="auto"><br></div><div dir="auto">*Not able to crack the credit card mystery:* Are you paying the minimum amout due on your credit card payment? If yes, you are trapped in credit card mystery. On the other side, very few people really enjoy the benefits like free lounge access, buy one get one movie ticket, etc.</div><div dir="auto"><br></div><div dir="auto">*No idea about the power of compounding:* Everyone has come across the formula of compounding but very few people really understand its power. This is the reason people do not start saving early and hence lose out on the power of compounding. Albert Einstein said that power of compounding is the eighth wonder of the world.</div><div dir="auto"><br></div><div dir="auto">*Buying stocks based on tips without any knowledge:* You will find every Tom, Dick and Harry giving stock tips over Facebook, Whatsapp and TV. Unfortunately, a lot of people fall in a trap of these people and invest money without any knowledge. What is the end result? They lose everything!</div><div dir="auto"><br></div><div dir="auto">*Becoming a victim of lifestyle inflation*: Moving from 2bhk to 3bhk just because you have got a good hike, upgrading your car because you have got some bonus are some of the examples of lifestyle inflation destroying financial lives.</div><div dir="auto"><br></div><div dir="auto">*Buying things just because they are on discount*: From Amazon's "Great Indian Sale" to Flipkart's "The Big Billion Days", everyone is encashing on the weakness of Indians buying things just because it is on discount. Funny thing is now you will find such sales every other month.</div><div dir="auto"><br></div><div dir="auto">*Getting tempted to go for an exotic vacation* just because someone put a post on Facebook and Instagram: Instagram and Facebook are introduced as Social Media Platform but they are actually destroying the entire social fabric. Friends are jealous of each other. Most of them are just social media friends. Facebook and Instagram are more of a marketing platform where people post stuff just to get some likes and companies promote their product and services.</div><div dir="auto"><br></div><div dir="auto">*Spending a bomb on weekend parties:* 5 days work and 2 days party: This is the new culture in India. Pubs are jam-packed on weekends where people would spend a bomb on drinks. By the end of the month, they are left with no money.</div><div dir="auto"><br></div><div dir="auto">*No track of cash flow:* Very few people keep a track of their expenses. Most of them just don't know where the money is gone.</div><div dir="auto"><br></div><div dir="auto">*No emergency budget:* Not having any extra money in the case of an emergency results in embarrassing situations of borrowing money from friends and relative. Some people even break their investments and make a big mistake.</div><div dir="auto"><br></div><div dir="auto">*No medical insurance*: I have seen people losing out the lifetime savings just because they did not take medical insurance. One accident can shatter all financial dreams. Better be insured. Healthcare cost is rising and it is impossible to manage it without insurance.</div><div dir="auto"><br></div><div dir="auto">*No financial plan:* People do not know why they need to save money because they don't know their financial goals.</div><div dir="auto"><br></div><div dir="auto">*No diversification*: Some people would invest all their money in real estate, some would invest all the money in gold, some would just keep it in the locker, some would invest all the money in the stock market. Very few people understand the right way of diversifying the investments.</div><div dir="auto"><br></div><div dir="auto">*Spending all the hard earned money on children marriage:* Thanks to our hypocritic society! People save their entire life just to spend all the money on random relatives who only bother about the food and arrangements. What is the topic of discussion at weddings? "Sharma ji ne to unki beti ko car gift kari. (Mr Sharma has gifted a car to his daughter)". "Mehta ji ne unki beti ko 50 tola sona diya" (Mr Mehta has gifted 500-gram gold to his daughter.)</div><div dir="auto"><br></div><div dir="auto">*Buying excessive gold only to keep it in the locker:* Gold worth lakhs is kept in lockers only to be used once or twice a year. This is resulting in the money getting blocked and hence not getting any returns on it.</div><div dir="auto"><br></div><div dir="auto">*An extremely conservative approach with investment:* Traditionally, people have been risk-averse. They would just have an FD and live on 6–7% annual interest. Some would just keep the cash at home.</div><div dir="auto"><br></div><div dir="auto">*Lack of clarity between asset and liability:* Having a car is not an asset because it consumes fuel and has a maintenance cost. Its price will only depreciate in the future. Car is a necessity but people spend a lot of money and even take the loan to buy a luxury car over and above their budget.</div><div dir="auto"><br></div><div dir="auto">*Considering frugal as cheap:* A lot of people confuse economic spending with being cheap. An economic spender does not compromise with quality but does his research well enough to buy the product or service at the lowest rate.</div><div dir="auto"><br></div><div dir="auto">*Procrastinating investment decisions:* "I will invest from tomorrow". But the problem is that tomorrow never comes.</div><div dir="auto"><br></div><div dir="auto">*Spending a lot of money on fancy stuff:* A fancy car, a fancy house, a fancy watch, a fancy vacation. People want fancy stuff and willing to pay a premium irrespective of the value it generates.</div><div dir="auto"><br></div><div dir="auto">*Lack of patience:* "I can't wait for my wealth to grow. I want to double my investments in 6 months. I need to invest in the stock market." A lot of people lose their lifetime of savings because they don't have the patience to understand the investment option and would blindly trust anyone with their investment.</div><div dir="auto"><br></div><div dir="auto">*Depending upon others for investment decisions:* "I don't know anything about investment. Please manage my money." Unfortunately, a lot of people are dependent upon others with their hard earned money. This is the reason we have a lot of self-proclaimed experts giving stock market tips.</div><div dir="auto"><br></div><div dir="auto">*Not discussing the money matters in the family:* Discussions related to money are considered as a taboo in Indian families. Nobody really discusses money matters.</div><div dir="auto"><br></div><div dir="auto">*Getting too greedy with investment:* People blindly invest their money in penny stocks, day trading, futures and options. They eventually lose all their hard earned money. What is the root cause? GREED</div><div dir="auto"><br></div><div dir="auto">*Wasting time on unproductive things:* Rather than learning new stuff and growing the skillset, people end up wasting time on social media and YouTube.</div><div dir="auto"><br></div><div dir="auto">*Lack of disciplined investment:* Instead of spending what is left after investing, people invest what is left after spending. This results in indisciplined investment.</div><div dir="auto"><br></div><div dir="auto">*Root Cause:* Lack of knowledge about personal financial management!!</div>*Living Happily* 🙏Regards<br>CA.C.V.PAWAR<br>0253-2319641 MOBILE:9423961209</div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-62843151089566255302019-01-10T12:43:00.001+05:302019-01-10T12:43:37.768+05:30Important changes and clarifications issued by CBIC on 31 Dec & 1 Jan 2019<div dir="ltr"><p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">1. Vide Removal of Difficulty order No. 2/2018 dated 31.12.2018 the time limit for availing credit on invoices issued during the period July 2017 to March 2018 and rectification of any errors or omissions in outward supplies under Section 37 of the CGST Act, 2017 in the GSTR -1 returns filed during the period July 2017 to March 2018 is extended till 31.3.2019</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">2. Vide Removal of Difficulty order No. 3/2018 dated 31.12.2018 the time limit for filling Annual return under Section 44 of the CGST Act, 2017 is extended till 30.6.2019</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">3. Vide Notification 78/2018 C.T, due date for ITC – 04 for the period from July 17 to December 2018 has been extended till 31.03.2019</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">4. Vide Notification 74/2018 C.T, Rule 138E inserted in the CGST Rules, 2017 to specify that facility to generate e-way bill will not be available to taxpayers who have not furnished their returns (As per our understanding Returns here would include both returns i.e. GSTR-1 and GSTR-3B) for two consecutive tax periods</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">5. Vide Notification 74/2018 C.T, proviso inserted in Rule 46, 49 and 54 of the CGST Rules, 2017 to specify that signature or digital signature of the supplier or his authorised representative is not required in the case of issuance of a electronic invoice/Bill of supply/consolidated tax invoice etc. in accordance with the provisions of the Information Technology Act, 2000 (21 of 2000) </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">6. Vide Notification 75/2018 C.T, late fees for GSTR 1 for the period July 2017 to September 2018 is waived off, provided such returns are filed between the period 22.12.2018 to 31.3.2019</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">7. Vide Notification 76/2018 C.T, late fees for GSTR 3B for the period July 2017 to September 2018 is waived off, provided such returns are filed between the period 22.12.2018 to 31.3.2019</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">8. Vide Notification 24/2018 C.T (Rate) Explanation is inserted under Sr. No. 234 of schedule I to Notification 1/2017 Central Tax (Rate) specifying that value of Goods component of renewal energy devise such as (a) Bio-gas plant (b) Solar power based devices (c) Solar power generating system (d) Wind mills, Wind Operated Electricity Generator (WOEG) (e) Waste to energy plants/devices (f) Solar lantern/solar lamp (g) Ocean waves/tidal waves energy devices/plants, & parts for their manufacture will be taken as 70% of the gross consideration charged for all such supplies, and the remaining 30% of the gross consideration charged will be deemed as value of the taxable service portion of the said supply. We believe that the said explanation will be applicable with effect from 1 January 2019 9. Vide Notification 27/2018 C.T (Rate), the following important changes specified</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">10. Services of leasing or renting of goods will attract GST rate as applicable to supply of such goods.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">11. Further sr. no. 38 inserted to specify GST rate of 18% (9% CGST + 9% SGST) on Service by way of construction or engineering or installation or other technical services, provided in relation of setting up of (a) Bio-gas plant (b) Solar power based devices (c) Solar</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">power generating system (d) Wind mills, Wind Operated Electricity Generator (WOEG) (e) Waste to energy plants/devices (f) Solar lantern/solar lamp (g) Ocean waves/tidal waves energy devices/plants. Further, an explanation is also inserted therein to specify that the</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">said entry to be read in conjunction with serial number 234 of Schedule I of the notification No. 1/2017- Central Tax (Rate). In terms of the said explanation 30% of the gross consideration charged for such turnkey projects will be deemed to value of the said taxable service and remaining 70% will be deemed to be value of the goods component.</span></p> <p class="MsoNormal" style="text-align:justify;line-height:150%;margin:0in 0in 10pt;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">12. Vide Notification 29/2018 C.T (Rate) tax on Security services provided by any person other than Body corporate (i.e. Proprietorship concern, Partnership concern etc.) to any registered person will be paid by such registered person on reverse charge basis</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">13. Vide Circular No. 76/50/2018-GST dated 31.12.2018 it is clarified that no penalty will be imposable under Section 73(11) of the CGST Act where the self-assessed tax or any amount collected as tax has not been paid within a period of thirty days from the due date of</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">payment of such tax. The circular clarifies that provisions of section 73 of the CGST Act are generally not invoked in case of the delayed filing of the return in FORM GSTR-3B because tax along with applicable interest has already been paid albeit after the due date for</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">payment of such tax. Accordingly, the penalty under the provisions of section 73(11) of the CGST Act is not payable in such cases.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">However, it is clarified that since the tax has been paid late in contravention of the provisions of the CGST Act, a general penalty under section 125 of the CGST Act is imposable.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">14. Vide Circular No. 78/52/2018-GST dated 31.12.2018 it is clarified that where the service exporter outsources a part of the entire contract to any person located outside India, the service exporter can treat such supply in entirety as export of services under provisions of Section 2(6) of the IGST Act, 2017 even if the full consideration for the services as per the contract value is not received in convertible foreign exchange in India due to the fact that the recipient of services located outside India directly pays to the supplier of services located outside India for the outsourced portion of the contract. In such a case the exporter of such services needs to pay tax on reverse charge basis on the outsourced portion of such contract treating such outsourced portion as import of service. He can avail ITC on the tax so paid under reverse charge basis. Further it is also mandatory that RBI by general instruction or by specific approval has allowed the part consideration pertaining to the outsourced portion of the contract to be retained outside India. The circular clarifies that if the said conditions are satisfied it will be deemed that the entire consideration is received in convertible foreign exchange for the purpose of Section 2(6) of the IGST Act, 2017.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">15. Vide Circular No. 79/53/2018-GST dated 31.12.2018 the following issues are clarified.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">16. Physical documents are not required to be submitted along with refund application in form RFD 01, instead all details are required to be uploaded online. However, the taxpayer can choose to submit the refund application along with documents physically also. </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">17. For the purpose of calculating refund on account of inverted duty structure, if multiple inputs are used and such multiple inputs attract different rates the same will also be considered for the purpose of claiming the refund even if some of such inputs attract rates which are lower than the output rates. It is clarified that in the formula provided in rule 89(5) of the CGST Rules, 2017, the term 'Net ITC' covers the ITC availed on all inputs in the relevant period, irrespective of their rate of tax. </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">18. ITC which is reversed in the relevant period cannot be treated as 'Net ITC availed' in the relevant period for the purpose of claiming refund. However if the said ITC reversed is re-claimed in subsequent period (subject to fulfilment of all the specified conditions under Section 16 and not covered under excluded category under Section 17(5) of the CGST Act, 2017) then such ITC can be included as part of the 'Net ITC availed' in the period in which it is reclaimed, for the purpose of claiming refund.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">19. ITC availed in subsequent periods on any invoices issued in a particular month cannot be excluded in 'Net ITC availed' during the period in which credit is availed. The same is to be included in 'Net ITC availed' during the relevant period in which credit is availed for the purpose of computing refund amounts.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">20. Input tax credit is allowed on coal used for generating electricity which is captively used in the manufactured and supply of dutiable goods. It is clarified that coal falls under the category of inputs since the same is used in the course or furtherance of business.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:150%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif">21. Vide Circular 80/54/2018-GST dated 31.12.2018 it is clarified that 5% GST rate specified under entry 234 of Notification 1/2017 C.T for renewable energy devices such as (a) Bio-gas plant (b) Solar power based devices (c) Solar power generating system (d) Wind mills, Wind Operated Electricity Generator (WOEG) (e) Waste to energy plants / devices (f) Solar lantern / solar lamp (g) Ocean waves/tidal waves energy devices/plant (h) Photovoltaic cells, whether or not assembled in modules or made up into panels, and parts for manufacture of such goods will apply only to such machinery, equipment etc., which fall under Chapter 84, 85 and 94 and used in the initial setting up of renewable energy plants and devices including WTEP</span></p> <p class="MsoNormal" style="text-align:justify;line-height:150%;margin:0in 0in 10pt;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-family:Arial,sans-serif"> </span></p> <span style="font-size:11pt;font-family:Arial,sans-serif">22. Vide circular No. 81/55/2018-GST dated 31.12.2018 it is clarified that the term "sprinklers", in the entry 195B of Notification 1/2017 C.T, covers sprinkler irrigation system and accordingly, sprinkler system consisting of nozzles, lateral and other components would attract GST at the rate of 12%</span> <div> <br clear="all"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><br></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-30243350320529596942018-10-12T11:07:00.001+05:302018-10-12T11:07:56.266+05:30IGST REFUND - Exports<div dir="ltr"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div style="font-size:13.3333339691162px"><br></div></div></div></div></div><div class="gmail_quote"><br><div dir="ltr"><div dir="ltr"><div style="font-family:verdana,sans-serif"><div style="font-family:verdana,sans-serif"><strong>Dear All,</strong></div><div style="font-family:verdana,sans-serif"><strong><br></strong></div><div style="font-family:verdana,sans-serif"><strong>IGST Refund permitted if goods are exported claiming EPCG benefit . Please see the below notification.</strong></div><div style="font-family:verdana,sans-serif"><br></div><div style="font-family:verdana,sans-serif"><p><font face="Arial" size="2"><b>Notification No.</b></font><b><font face="Arial" size="2"><span class="m_8695081320358201272gmail-il">54</span>/<span class="m_8695081320358201272gmail-il">2018</span>-<span class="m_8695081320358201272gmail-il">Central</span> <span class="m_8695081320358201272gmail-il">Tax</span> ,dt. 09-10-<span class="m_8695081320358201272gmail-il">2018</span></font></b></p><p align="justify"><font face="Arial" size="2"><b>Sub:-</b>Seeks to make amendments (Twelfth Amendment, <span class="m_8695081320358201272gmail-il">2018</span>) to the CGST Rules, 2017. This notification amends rule 96(10) to allow exporters who have received capital goods under the EPCG scheme </font></p><p align="justify"><br></p><p align="center"><b><font face="Arial" size="2">[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]<br><br>Government of India<br>Ministry of Finance<br>(Department of Revenue)<br>Central Board of Indirect Taxes and Customs<br>Notification No. 54/2018 ' Central Tax</font></b></p><p align="justify"><br></p><p align="right"><b><font face="Arial" size="2">New Delhi, the 9th October, 2018</font></b></p><p align="justify"><br></p><p align="justify"><font face="Arial" size="2">G.S.R''(E). - In exercise of the powers conferred by <a><font color="#0066cc">section 164</font></a> of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-<br><br>1. (1) These rules may be called the Central Goods and Services Tax (Twelfth Amendment) Rules, 2018.<br><br>(2) They shall come into force on the date of their publication in the Official Gazette.<br><br>2. In the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in <a><font color="#0066cc">rule 89</font></a>, for sub-rule (4B), the following sub-rule shall be substituted, namely:-</font></p><p align="justify"><br></p><p align="justify"><font face="Arial" size="2"> '(4B) Where the person claiming refund of unutillised input tax credit on account of zero rated supplies without payment of tax has '<br><br> (a) received supplies on which the supplier has availed the benefit of the Government of India, Ministry of Finance, notification <a><font color="#0066cc">No. 40/2017-Central Tax (Rate)</font></a>, dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1320 (E), dated the 23rd October, 2017 or notification <a><font color="#0066cc">No. 41/2017-Integrated Tax (Rate)</font></a>, dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1321(E), dated the 23rd October, 2017; or<br> <br> (b) availed the benefit of notification <a><font color="#0066cc">No. 78/2017-Customs</font></a>, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1272(E), dated the 13th October, 2017 or notification <a><font color="#0066cc">No. 79/2017-Customs</font></a>, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1299(E), dated the 13th October, 2017,<br><br>the refund of input tax credit, availed in respect of inputs received under the said notifications for export of goods and the input tax credit availed in respect of other inputs or input services to the extent used in making such export of goods, shall be granted.'.<br><br>3. In the said rules, in rule 96, for sub-rule (10), the following sub-rule shall be substituted, namely:-</font></p><p align="justify"><br></p><p align="justify"><font face="Arial" size="2"> '(10) The persons claiming refund of integrated tax paid on exports of goods or services should not have -<br><br> (a) received supplies on which the benefit of the Government of India, Ministry of Finance notification <a><font color="#0066cc">No. 48/2017-Central Tax</font></a>, dated the 18th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1305 (E), dated the 18th October, 2017 except so far it relates to receipt of capital goods by such person against Export Promotion Capital Goods Scheme or notification <a><font color="#0066cc">No. 40/2017-Central Tax (Rate)</font></a>, dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1320 (E), dated the 23rd October, 2017 or notification <a><font color="#0066cc">No. 41/2017-Integrated Tax (Rate)</font></a>, dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1321 (E), dated the 23rd October, 2017 has been availed; or</font></p><p align="justify"><br></p><p align="justify"><font face="Arial" size="2"> (b) availed the benefit under notification <a><font color="#0066cc">No. 78/2017-Customs</font></a>, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1272(E), dated the 13th October, 2017 or notification <a><font color="#0066cc">No. 79/2017-Customs</font></a>, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1299 (E), dated the 13th October, 2017 except so far it relates to receipt of capital goods by such person against Export Promotion Capital Goods Scheme.'.</font></p><p align="justify"><br></p><p align="right"><font face="Arial" size="2">[F. No. 349/58/2017-GST (Pt.)]<br><br>(Dr. Sreeparvathy S.L.)<br>Under Secretary to the Government of India</font></p><p align="justify"><br></p><p align="justify"><font face="Arial" size="2">Note :- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification <a><font color="#0066cc">No. 3/2017-Central Tax</font></a>, dated the 19th June,2017, published vide number G.S.R 610 (E), dated the 19th June, 2017 and last amended vide notification <a><font color="#0066cc">No. 53/2018 - Central Tax</font></a>, dated the 9th October, 2018, published vide number G.S.R 1007 (E), dated the 9th October, 2018.</font><br clear="all"></p></div></div><div><div class="m_8695081320358201272gmail_signature"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><p><a name="m_8695081320358201272_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter_UNIQUE_ID_SafeHtmlFilter__MailAutoSig"><font face="verdana, sans-serif" size="2"><br></font></a></p><p><br></p><div><b><font color="#000099"><br class="gmail-Apple-interchange-newline">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div><div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div><div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b><br></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div> </div></div> </div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com2tag:blogger.com,1999:blog-5127150369105694891.post-86971129995836492682018-08-17T17:52:00.000+05:302018-08-17T17:53:16.836+05:30Update on Notification- Amendment in Form 3CD<div dir="ltr"><div class="gmail_quote"><div dir="ltr"><span style="color:windowtext;font-family:Calibri,sans-serif;font-size:11pt">The existing Form No. 3CD was amended vide notification no. GSR 666(E) dated 20th July, 2018 with effect from 20th August, 2018 (refer mail below).</span><br></div><div lang="EN-US" link="#0563C1" vlink="#954F72"><div class="m_2993920327320293207WordSection1"> <p class="m_2993920327320293207Default"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext"><u></u> <u></u></span></p> <p class="m_2993920327320293207Default"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext">The Central Board of Direct Taxes (CBDT) vide Circular No. 6 / 2018 dated 17th August, 2018 has decided that the <b>reporting under the proposed clause 30C (pertaining to General Anti-Avoidance Rules (GAAR) and proposed clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Tax Audit Report shall be kept in abeyance till 31st March, 2019.</b> <u></u><u></u></span></p> <p class="m_2993920327320293207Default"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext"><u></u> <u></u></span></p> <p class="m_2993920327320293207Default"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext">Therefore, for Tax Audit Reports to be furnished on or after 20th August, 2018 but before 1st April, 2019, <b>the tax auditors will not be required to furnish details called for under the said clause 30C and clause 44 of the Tax Audit Report.<u></u><u></u></b></span></p> <p class="m_2993920327320293207Default"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext"><u></u> <u></u></span></b></p> <p class="m_2993920327320293207Default"><br></p></div></div> </div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0tag:blogger.com,1999:blog-5127150369105694891.post-66027347111418799922018-08-09T19:32:00.000+05:302018-08-09T19:39:25.808+05:30E-form DIR-3 KYC to update database of Directors with MCA<div dir="ltr">Dear All,<div><br></div><div><b><u>Mendatory requirement for every director. </u></b></div><div><b style="background-color:rgb(255,255,0)">LATE FEES if form not uploaded before 31.8.2018 is Rs.5000</b></div><div><br></div><div><b style="background-color:rgb(255,255,0)">PLEASE SUBMIT THE DOCUMENT WITHIN NEXT 5 DAYS</b></div><div><br></div><div><p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">DIR-3 KYC – A step towards updating directors database. As a part of updating its directors database, The MCA has notified the format of E-form DIR-3 KYC under new Rule 12A, vide the 'Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dir-3-kyc-rules-kyc-directors.html)', via notification dt. 05.07.2018. DIR-3 kyc is available for filing.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">Who is required to file DIR-3 KYC?</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">For Financial year 2018-19 – Any person who has been allotted "Director Identification Number (DIN/DPIN)" on or before 31st March 2018 and the status of such DIN is 'Approved', needs to file form DIR-3 KYC to update KYC details in the system on or before 31st August 2018.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">For Financial year 2019-20 onwards – Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is 'Approved', would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year.</span></p> <p class="MsoNormal" style="text-align:justify;margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;line-height:115%;font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="text-align:justify;margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><b><u><span style="font-size:12pt;line-height:115%;font-family:Arial,sans-serif">After expiry of the respective due dates, system will mark all non-compliant DINs against which DIR-3 KYC form has not been filed as 'Deactivated</span></u></b></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">Fees for filing E-form DIR – 3 KYC DIR-3 KYC under Rule 12A of Companies (Appointment and Qualification of Directors) Rules, 2014 –</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">1. Fee payable till the 30 April of every financial year in respect of e</span><span style="font-size:12pt;font-family:"Lucida Sans Unicode",sans-serif">‐</span><span style="font-size:12pt;font-family:Arial,sans-serif">form DIR</span><span style="font-size:12pt;font-family:"Lucida Sans Unicode",sans-serif">‐</span><span style="font-size:12pt;font-family:Arial,sans-serif">3 KYC as at the 31st March of immediate previous year. Not Applicable and Fee payable in delayed cases is Rs. 5000/</span><span style="font-size:12pt;font-family:"Lucida Sans Unicode",sans-serif">‐</span><span style="font-size:12pt;font-family:Arial,sans-serif"></span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><b><u><span style="font-size:12pt;font-family:Arial,sans-serif;background:yellow">2. For the current FY (2018-2019), no fee shall be charged by the govt till August 31, 2018 and delayed fee of Rs. 5000/- shall be charged on or after September 1, 2018.</span></u></b><b><u><span style="font-size:12pt;font-family:Arial,sans-serif"></span></u></b></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif"> </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif">The following attachment is mandatory to be filed in all cases: </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif"> Proof of Permanent address - Address proofs like passport, election (voter identity) card, and ration card, driving license, electricity bill, telephone bill or Aadhaar shall be attached and should be in the name of applicant only. </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif"> </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif">Conditional attachments: </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif"> Copy of Aadhaar Card – In case 'yes' is selected in the field "Whether Resident in India" </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif"> Copy of Passport – In case 'Yes' is selected in the field "Do you have a valid passport" </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif"> Proof of present Address – In case 'No' is selected in the field "Whether present residential address is same as permanent residential address" </span></p> <p class="gmail-Default" style="text-align:justify;margin:0in 0in 0.0001pt;font-size:12pt;font-family:"Times New Roman",serif;color:black"><span style="font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="text-align:justify;margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;line-height:115%;font-family:Arial,sans-serif">Optional attachments, if any </span></p> <p class="MsoNormal" style="text-align:justify;margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;line-height:115%;font-family:Arial,sans-serif"> </span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">In case of Indian National:-</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">1. Valid Mobile Number for OTP Verification.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">2. Valid E-Mail ID for verification and correspondence.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">3. Self Attested Copy of PAN Card.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">4. Self Attested Copy of Voter ID Card if any.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">5. Self Attested copy of Aadhaar Card.</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">6. Self-attested Permanent Address Proof (Utility Bills issued by respective government authorities not older than 2 months)</span></p> <p class="MsoNormal" style="margin:0in 0in 0.0001pt;text-align:justify;line-height:normal;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;font-family:Arial,sans-serif">7. Self-attested Present Address Proof, if present address different from permanent address.</span></p> <p class="MsoNormal" style="text-align:justify;margin:0in 0in 10pt;line-height:115%;font-size:11pt;font-family:Calibri,sans-serif"><span style="font-size:12pt;line-height:115%;font-family:Arial,sans-serif">8. Passport, If have Valid Passport</span></p><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><b><font color="#000099">Regards,<br>-------<br>CA.C.V.PAWAR<br></font></b><b><font color="#666600">PATIL DAWARE GIRASE PAWAR & ASSOCIATES</font></b></div> <div><b><font color="#666600">CHARTERED ACCOUNTANTS</font></b></div> <div><b><font color="#666600">0253-2319641. M-9423961209<br></font></b><br><div style="font-size:13.3333339691162px"><b><font style="background-color:rgb(51,255,51)">INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD<br></font></b><br><b>For latest Updates visit Blogspot : </b><a href="http://canews1.blogspot.in/" target="_blank"><b>http://canews1.blogspot.in</b></a></div><div style="font-size:13.3333339691162px"><a href="http://www.facebook.com/?ref=home#%21/profile.php?id=100000150522567" target="_blank">http://www.facebook.com/cvpawar</a><br></div><div style="font-size:13.3333339691162px"><br></div></div></div></div></div></div></div> CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com1tag:blogger.com,1999:blog-5127150369105694891.post-74457891275079200292018-07-31T12:15:00.000+05:302018-07-31T12:18:46.764+05:30GST : Note on NEW Returns and Return Formats - July 2018<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="color: rgb(74 , 74 , 74); display: inline; float: none; font-family: "georgia" , "times new roman" , "times" , serif; font-size: 18px; text-align: left;">Govt has issued a Note on GST - New Returns and Return Formats.</span><br />
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<span style="color: rgb(74 , 74 , 74); display: inline; float: none; font-family: "georgia" , "times new roman" , "times" , serif; font-size: 18px; text-align: left;">GST Council approved the key features and new format of the GST returns. This brief note lists the salient features of the new return format and business process for the information of trade and industry and other stakeholders.</span><br />
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<span style="color: rgb(74 , 74 , 74); display: inline; float: none; font-family: "georgia" , "times new roman" , "times" , serif; font-size: 18px; text-align: left;">A copy of the same for your reference. </span><a href="https://drive.google.com/file/d/0B8GyRsbVIg8gRGxHRmdlQl9wMFlkWFIwcThfZ3FMSGN4ZF9n/view?usp=sharing">https://drive.google.com/file/d/0B8GyRsbVIg8gRGxHRmdlQl9wMFlkWFIwcThfZ3FMSGN4ZF9n/view?usp=sharing</a><br />
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<b><span style="color: #000099;">Regards,<br />-------<br />CA.C.V.PAWAR</span></b></div>
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CA.C.V.PAWARhttp://www.blogger.com/profile/02312812468661246962noreply@blogger.com0