Refer to question number 5. How will disputed tax be calculated in a case where disputed demand including interest has been paid by the assessee while being in appeal?
FAQs on Direct Tax Vivad Se Vishwas Act, 2020
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Disputed tax payment under settlement scheme may yield refund of excess payments and waiver of interest and penalty. Where a declaration under the settlement scheme is accepted and the designated authority issues a certificate requiring payment of disputed tax at the ... Summary
Disputed tax payment under settlement scheme may yield refund of excess payments and waiver of interest and penalty.
Where a declaration under the settlement scheme is accepted and the designated authority issues a certificate requiring payment of disputed tax at the stipulated percentage, prior payments in excess of the required disputed tax give rise to a refund of the excess without refund interest, and specified interest and penalties linked to the disputed demand are waived.
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