The Central Board of Direct Taxes (CBDT) notified the extension on the last date of payment under Vivad se Vishwas is extended till 31st August, 2021.
The last date of payment of the amount under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June, 2021 is further extended to 31st August, 2021.
As per the notification 31st August, 2021 shall be the date on or before which the amount payable under the said Act shall be paid as per third column of the Table to section 3 of the Direct Tax Vivad se Vishwas Act, 2020.
Further, 1 September, 2021 shall be the date on or after which the amount payable under the said Act shall be paid as per fourth column of the Table to section 3 of the Direct Tax Vivad se Vishwas Act, 2020.
The notification said after clause (c), the clause shall be inserted, namely, “(d) 31st day of October, 2021 shall be the last date under clause (l) of sub-section (1) of section 2 of the said Act.”
The Vivad Se Vishwas scheme provides for settlement of disputed tax, interest, penalty or fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee.
The taxpayer is granted immunity from levy of interest, penalty and institution of any proceeding for prosecution for any offence under the Income-tax Act in respect of matters covered in the declaration.
This notification shall come into force from 25th June, 2021.Subscribe Taxscan AdFree to view the Judgment