{"id":19067,"date":"2020-11-06T14:11:25","date_gmt":"2020-11-06T08:41:25","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=19067"},"modified":"2020-11-06T14:11:28","modified_gmt":"2020-11-06T08:41:28","slug":"payment-without-additional-amount-under-vivad-se-vishwas-act","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/payment-without-additional-amount-under-vivad-se-vishwas-act\/","title":{"rendered":"Declarant can make Payment without Additional Amount under Vivad se Vishwas Act"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The CBDT has issued clarification in respect to direct tax under Vivad se Vishwas Act, stating that the requirement of making payment by a taxpayer within 15 days of receiving declaration certificate from designated authority; however this will not apply according to new notification now. As the Board has been extended the timeline for making payment without additional amount till <strong><em>31st March, 2021.<\/em><\/strong><\/p>\n\n\n\n<p>The central government with vide notification no 85\/2020 has\nextended the date for payment without any additional amount paying under Vivad\nse Vishwas scheme from 31 Dec 2020 to 31st March 2021. The said notification\nhas also been notified the last date for filing declaration under Vivad se\nVishwas Scheme as 31st December 2020<strong><em>.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Highlights on Extension under Vivad se Vishwas\nAct<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"601\" height=\"387\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/11\/image-20.png\" alt=\"Extension under Vivad se Vishwas Act\" class=\"wp-image-19068\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/11\/image-20.png 601w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/11\/image-20-300x193.png 300w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure><\/div>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/judgement-by-karnataka-hc-ground-to-invoke-revisional-powers\/\">Judgement by Karnataka HC \u2013 Ground to Invoke Revisional Powers<\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is under Vivad se Vishwas Act?<\/h3>\n\n\n\n<ul><li>The Vivad se Vishwas Act, 2020 was enacted by a government with an objective to generate timely revenue for the Government, reduce pending income tax litigation. It is to benefit taxpayers by providing them peace of mind, certainty, &amp; savings on account of time and resources that would otherwise be spent on a long-drawn and vexatious litigation process. <\/li><li>The provision of Vivad se Vishwas Act has been amended by the <strong><em>Taxation and Other Laws (Relaxation &amp; Amendment of Certain Provisions) Act, 2020<\/em><\/strong> to provide certain relaxation in view of the <em><strong>COVID-19 pandemic<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/COVID-19_pandemic\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> and also to empower Central Government to notify certain dates.\u00a0 <\/li><li>Under the existing provisions of <strong><em>section 5 of the Vivad se Vishwas Act<\/em><\/strong>, a declarant is required to pay the amount within the period of <strong><em>15 days<\/em><\/strong> from a date of receipt of certificate from the designated authority. <\/li><li>However, according to the notification, the declarant who files a declaration on or before <strong><em>31 December 2020<\/em><\/strong> <strong><em>can now make payment without paying an additional amount on or before 31 March 2021.<\/em><\/strong><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Why this new Notification has come into Force<\/h3>\n\n\n\n<p>Under an existing provisions of section 5 of sub-section (2)\nof the Direct Tax Vivad se Vishwas Act, 2020, a declarant has to pay an amount\nwithin the period of 15 days from a date of receipt of certificate from a\ndesignated authority.<\/p>\n\n\n\n<p>However, according to the aforesaid notification, the\ndeclarant who files the declaration on or before 31st Dec 2020 can make the\npayment without any additional amount on or before 31st March 2021. Therefore,\nthe required payment by a declarant within the period of 15 days from a date of\nreceipt of certificate from a designated authority may result into an undue\nhardship for the declarant in whose case a period of 15 days expires before\n31st Mar 2021.<\/p>\n\n\n\n<p>In order to mitigate an undue hardship and remove difficulty\nthat may be caused by the requirement of payment within 15 days from a date of\nreceipt of certificate from the designated authority. It has clarified that\nwhere a declarant files a declaration under Vivad se Vishwas on or before 31\nDecember, 2020, the designated authority while issuing the certificate under <strong><em>section\n5 of the Vivad se Vishwas Act<\/em><\/strong>, shall allow the declarant to make\npayment without additional amount on or before 31 March 2021. \n\nIt\nhas to be remembered that 31st December 2020 was the last date for filing for a\ndeclaration by an assessee who wishes to avail this amnesty scheme. After that,\nhe cannot avail the benefit of scheme unless again extended. However, an\nassessee shall have the extended period up to 31st March 2021 for making a\npayment of disputed tax without any additional payment of <strong><em>10% of the amount<\/em><\/strong>.\n\n\n\n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>It is concluded that the requiring payment by a declarant within a period of 15 days from a date of receipt of certificate from the designated authority may result in undue hardship for the declarant in that case the period of 15 days expires on or before 31st March, 2021. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/vivad-se-vishwas-scheme\/\">Vivad Se Vishwas Scheme: A Complete Overview<\/a><\/mark><\/p>\n\n\n<a href=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/11\/Circular_18_2020.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Circular_18_2020<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CBDT has issued clarification in respect to direct tax under Vivad se Vishwas Act, stating that the requirement of making payment by a taxpayer within 15 days of receiving declaration certificate from designated authority; however this will not apply according to new notification now. As the Board has been extended the timeline for making [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":19070,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[153],"tags":[1185],"acf":{"service_id":"220"},"authorName":"Soumya Bajpai","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/01\/0.jpg","authorDescription":"Soumya has done LLB (Hons) and has a 2+years experience in writing. Her main interest is in reading judgments, new enactments and amendments taking around in law. She always strives to bring the best to work that she does.","postViews":4142,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/19067"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=19067"}],"version-history":[{"count":5,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/19067\/revisions"}],"predecessor-version":[{"id":19083,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/19067\/revisions\/19083"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/19070"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=19067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=19067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=19067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}