Vivad se Vishwas Bill is now an act as it receives President’s assent on 17.03.2020.
The updated act has been incorporated with all the proposed amendments and you can download the Bill from E-filing website.
Regarding Forms for Vivad Se Vishwas Scheme it has been mentioned that “Forms required to submit for availing benefit under ‘DIRECT TAX VIVAD SE VISHWAS’ Scheme will be available in the e-Filing soon”
Thus from the above statement it is clear that such form shall be an online form and now people are eagerly waiting for the Form as very few days are left for 31.03.2020 after which the amount to be paid under the above scheme shall increase.
In the Act it has been mentioned that the designated authority shall pass the order/ certificate for the payment of tax within 15 days form the receipt of declaration from applicant and if they take the time mentioned above none of the applicant could pay their tax before 31.03.2020 other than the one who have already deposited 100% against any appeal.
However it has been assured by tax officials that designated authority won’t take 15 days and would release order much earlier so that people can take benefit of 31.03.2020 deadline.
Stay Tuned for the Forms as soon as same are released you’ll receive an update here.
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