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Wednesday, April 22, 2020

[ACCA_Profs] Vivad Se Vishwas Scheme: CBDT Circular Provides Further Clarifications

 

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Dear Subscriber,

The following important updates are available at itatonline.org:

Vivad Se Vishwas Scheme: CBDT Circular Provides Further Clarifications

The CBDT has vide Circular No. 9/2020 dated 22nd April 2020 provided important clarification to several queries raised by taxpayers in connection with the Vivad Se Vishwas Act, 2020

See Also: Digest of case laws (updated regularly) containing latest judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals


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Editor,

 

itatonline.org

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Latest:

Penalty For False Entry In Books Of Account Or Fake Invoices Under The Income-tax Act And The GST Act

Advocate Narayan Jain, LL.M, has explained in detail the provisions of section 271AAD of the Income-tax Act, 1961, which provides for the imposition of penalty. He has also dealt with the corresponding provisions in the GST Act. He has cautioned taxpayers to cross-check all entries with the vendors and customers as any negligence or mistake can expose them to imposition of heavy penalties under the Income tax as well as under GST

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