The declarant has filed a declaration for disputed penalty. He is required to pay 25% or 30% of disputed penalty to settle the dispute. Will interest levied or leviable be waived in this case?
FAQs on Direct Tax Vivad Se Vishwas Act, 2020
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Interest waiver on disputed penalty: payment of the required settlement amount extinguishes interest obligations under the scheme. Payment of the prescribed portion of a disputed penalty under the Vivad Se Vishwas framework results in waiver of interest levied on, or leviable in ... Summary
Interest waiver on disputed penalty: payment of the required settlement amount extinguishes interest obligations under the scheme.
Payment of the prescribed portion of a disputed penalty under the Vivad Se Vishwas framework results in waiver of interest levied on, or leviable in respect of, that penalty once the declarant pays the required settlement amount.
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