PANEL DISCUSSION ON “THE DIRECT TAX VIVAD SE VISHWAS ACT FOR DISPUTE RESOLUTION” (Jointly with IMC Chamber of Commerce and Industry, Bombay Chamber of Commerce & Industry and Bombay Chartered Accountants Society)

The Chamber of Tax Consultants in association with IMC Chamber of Commerce and Industry, Bombay Chamber of Commerce & Industry and Bombay Chartered Accountants Society jointly organised a Panel Discussion on "The Direct Tax Vivad se Vishwas Act for Dispute Resolution" on Thursday, 17th December, 2020 from 3:30 pm to 5:30 pm

In line with the motto of the government to enhance ease of doing business, promote a non-adversarial tax regime and maintain a tax-friendly atmosphere and looking at the success of the Sabka Vishwas Scheme announced earlier for Indirect tax laws, “The Direct Tax Vivad Se Vishwas Act, 2020” was passed on 17th March,2020. The extended closure date for filing declarations under the scheme (i.e.31st December 2020) is fast approaching.

CBDT, vide circulars dated 22nd April 2020 and 4th December 2020, have issued 89 FAQs on the scheme to clarify certain concerns pertaining to the scheme. Further, procedural rules, including the forms for making declaration under the VSV Scheme and the format of certificate to be issued by the Designated Authority (DA), have been notified on 18th March 2020. However, there are issues which require further clarifications from CBDT and tax department for resolving the pending tax disputes under the scheme.

In order to apprise the stakeholders on the Scheme and
benefits thereof, and with a view to assist the Government to make the scheme a large success, The Chamber of Tax Consultants has organised a Panel Discussion with representatives from the income-tax department to explain the scheme, and to clarify the practical difficulties arising on the implementation of the scheme. Mr Patanjali Jha (Principal Chief Commissioner of Income-tax, Mumbai) and Ms. Lekha Kumar will give the background and refresh the provisions and operations of the VSV Scheme, which will be followed by the Panel discussion.

The details of the panel discussion (in the form of a webinar) are as follows:

Panellists

1) Mr. Patanjali Jha, Principal Chief Commissioner of Income-tax, Mumbai
2) Ms. Lekha Kumar, Chief Commissioner of Income Tax – 5, Mumbai
3) Mr. Abhay Damle, Pr. Commissioner of Income-tax (Central) -1, Mumbai

The panellist will also reply to / clarify the questions received from the participants during the session. The questions to be posted to the panel can be sent in advance to [email protected] / [email protected]

CLICK HERE to Register in advance for this webinar

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