Vivad se Vishwas received assent of President on 17.03.2020 and on 18.03.2020 Forms were released by notification in the Gazette of India.
The notification mentioned above prescribe rules and Forms for Vivad se vishwas scheme. The rules mainly mentions few definitions and the manner in which the Forms shall be submitted.
There would be in Total 5 Forms in this scheme and all form shall be submitted online via e filing website.
Form 1: Form for filing declaration. This form needs to be filed by the assessee declaring his disputed tax and disputed tax/ fees/ penalty/ interest. There would be 2 Part in Form 1, first part would be declaration by applicant and second part would include different schedules for different types of pending appeal/ cases where one need to provide calculation of disputed Tax/ interest/ fees/ penalty etc.
Form 2: This Form will be a declaration by the applicant to waive all his rights to seek or pursue any remedy or any claim in relation to the tax arrear which may otherwise be available to me under any law for the time being in force.
Form 3: This will be a certificate issued by designated authority determining the final amount payable.
Form 4: This Form shall be an intimation by the applicant about payment of tax as mentioned in Form 3 along with the proof that appeal has been withdrawn.
Form 5: This Form shall be an “ORDER FOR FULL AND FINAL SETTLEMENT OF TAX ARREAR UNDER SECTION 5 (2) READ WITH SECTION 6 OF THE DIRECT TAXVIVAD SE VISHWAS ACT, 2020” wherein immunity shall be provided to the assessee from any prosecution and penalty.
Thus assessee need to file in total 3 Forms i.e. Form no. 1, 2 and 4 under the Vivad se vishwas scheme.
All the above Forms shall be submitted electronically and shall be signed via digital signature where return of income has been submitted under digital signature or via electronic verification in any other case.
You can view the Rules here: [pdf-embedder url=”https://www.taxontips.com/wp-content/uploads/2020/03/notification_18_2020.pdf” title=”Vivad se Vishwas Rules and Forms”]
Download the rules from HERE.
Notification showing the designated authority under Vivad se vishwas Act.
A new tab is now available on E-filing website to submit Form under Vivad se Vishwas scheme.
After you click on the tab you need to select the Assessment year for which you wish to file the Form and also you have been given an option to revise the Form. Don’t know how that will work as nothing as mentioned in Act regarding this.
After you submit the Assessment year and submit this is how Form 1 and 2 would look. Its a huge Form.
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