CURRENT AFFAIRS

Detailed explanation-1: -Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September, 2021.

Detailed explanation-2: -As mentioned above, according to the existing provisions of sub-section (2) of section 5 of the Vivad se Vishwas Act, the taxpayer needs to pay the amount within 15 days from the date of receipt of the certificate from the designated authority.

Detailed explanation-3: -The taxpayers should also pay the required amount identified by the designated authority within 15 days, starting from receiving the receipt of the certificate, which contains details about such payment to be paid to the designated authority in a prescribed form.

Detailed explanation-4: -What Is The ‘Direct Tax Vivad se Vishwas Act, 2020’ About? The declarant should pay the amount payable on or before 31 March 2021. The declarant should pay the amount payable within fifteen days of receipt of the certificate from the DA.