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LECTURE MEETING ON INTRICACIES INVOLVED IN THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020

February 14 @ 6:00 pm - 8:00 pm

DIRECT TAXES COMMITTEE
Chairman : Devendra Jain
Co-Chairman : Dinesh Poddar
Vice Chairman : Abhitan Mehta
Convenors : Dharan Gandhi, Nimesh Chothani, Viraj Mehta
Advisor : Mahendra Sanghvi

The Union Government, to fulfill its promise of reducing litigation under Direct tax laws, has proposed a new scheme by introducing The Direct Tax Vivad Se Vishwas Bill, 2020. The scheme proposes to put an end to the appeals pending under the Income-tax Act, 1961, at various appellate forums by making payment of the tax amount without the interest and penalty, if the same is paid upto 31.03.2020 or by making payment of the tax amount plus 10% of such amount if payment is made after 31.03.2020.

Though the purpose of the scheme is much laudable, there seems to be many grey areas when it is read in greater detail. Further, the scheme has just been proposed and it shall take some time to be passed by the Parliament. Also, Rules would be required to be notified. Accordingly, the time available to the assessees, would be less if they want to avail the benefit by paying upto 31.03.2020.

The scheme also provides that once a payment is made under such scheme, then the same shall not be refunded. Also, it requires an assessee to withdraw its appeal before making an application under the scheme.

In order to understand the intricacies involved in the scheme, the Chamber of Tax Consultants has orgnaised a lecture meeting for the benefit of the public at large.

The relevant details of the meeting are as under:

Day & Date : Friday, 14th February, 2020
Time : 6.00 p.m. to 8.00 p.m.
Venue : Walchand Hirachand Hall, 4th Floor, Indian Merchant’s Chamber, Churchgate, Mumbai-400 020
Speaker : Mr. Firoze Andhyarujina, Senior Advocate.

All the members and their associates are invited to take maximum benefit of the meeting.

Details

Date:
February 14
Time:
6:00 pm - 8:00 pm