Clarification regarding the scope of Vivad se Vishwas Act, 2020

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..... ayers by providing them peace of mind, certainty and savings on account of time and resources, the Direct Tax Vivad se Vishwas Act, 2020 (hereinafter referred to as VsV ) was enacted on 17th March, 2020. The settlement provisions under the Income-tax Act, 1961 (Income-tax Act) provide for an alternate mechanism to a taxpayer who chooses to exit the regular process of assessment which would hav .....

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..... n 2(1)(o), of the VsV are proposed to be amended by way of removal of doubts by this Bill. The said amendments are proposed to take effect retrospectively from the 17th March 2020. [Clause 160] Full Text : Budget 2021-22 + FINANCE Bill, 2021 - FAQ - Frequently Asked Questions, TMI Short Notes , Experts comment, opinion Tax Management India - taxmanagementindia - taxmanage .....

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