Tax was not deducted on an income and order under section 201 of the Act was passed in case of the deductor. The said income was also assessed in the case of the deductee. Both deductor and deductee are in appeal or arbitration, which is eligible under Vivad se Vishwas. What would be the amount payable by the deductor and the deductee with reference to the said income under Vivad se Vishwas in the following scenarios - (i) Where the deductor settles his appeal or arbitration and makes payment under Vivad se Vishwas? (ii) Where the deductee settles his appeal or arbitration and makes payment under Vivad se Vishwas?

Section 201 Order Spurs Appeals: Deductor and Deductee Navigate Vivad se Vishwas for Tax, Interest, and Penalty Waivers.

Tax was not deducted on certain income, leading to an order under section 201 of the Act against the deductor, while the income was assessed for the deductee. Both parties are appealing or arbitrating, eligible under Vivad se Vishwas. If the deductor settles, they receive a waiver on interest and penalty, and the deductee gets tax credit but must pay any applicable interest or penalty. Conversely, if the deductee settles, they receive similar waivers, and the deductor is exempt from tax but must pay any applicable interest or penalty, both at reduced rates if qualifying under Vivad se Vishwas.