The Direct Tax Vivad Se Vishwas Rules, 2020

The Central Government has issued the Direct Tax Vivad se Vishwas Rules, 2020.The Direct Tax Vivad se Vishwas Act aims at reducing the amount stuck in tax disputes.

The Gazette Notification can be downloaded from the link below:

THE DIRECT TAX VIVAD SE VISHWAS ACT , 2020

Vivad se Vishwas Bill of Parliament received the assent of the President on the 17th March, 2020 and is aimed at resolution of disputed tax.

The act can be downloaded from the below link:

CBDT issues FAQs on Direct Tax Vivad se Vishwas Scheme, 2020

Vivad se Vishwas was introduced in Lok Sabha during the Union Budget, 2020 presentation, post which certain queries which have been received from the stakeholders seeking clarifications in respect of various provisions contained in the Scheme. 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.However, this FAQ are subject to approval and passing of Vivad se Vishwas by the Parliament and receiving assent of the Hon’ble President of India.

The cicular containing FAQ can be downloaded by the following link: