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TMI BlogDirect Tax Vivad se Vishwas Rules, 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... mediation initiated or given notice thereof, or objections filed or to be filed before the Dispute Resolution Panel under section 144C of the Income-tax Act , or application filed under section 264 of the Income-tax Act ; (c) eligible search cases means cases in which an assessment has been made under sub-section (3) of section 143 or section 144 or section 153A or section 153C of the Income-tax Act on the basis of search initiated under section 132 or section 132A of the Income-tax Act and the amount of disputed tax does not exceeds five crore rupees; (d) Form means the Forms appended to these rules; (e) issues covered in favour of the declarant means issues in respect of which (i) an appeal or writ or special leave petition is filed or appeal or special leave petition is to be filed by the income-tax authority before the appellate forum or (ii) an appeal is filed or to be filed before the Commissioner (Appeals) or objections is filed or to be filed before the Dispute Resolution Panel by the declarant, on which he has already got a decision in his favour from Income Tax Appellate Tribunal (where the decision on such issue is not reverse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the designated authority under sub-section (2) of section 5, in respect of payment of amount payable by the declarant as per certificate granted under sub-section (1) of section 5, shall be in Form-5. 8. Laying down of procedure, formats and standards.- The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall lay down procedures, formats and standards for furnishing and verifying the declaration in Form-1 under sub-rule (1) of rule 3, furnishing and verifying the undertaking in Form-2 under sub-rule (2) of rule 3, granting of certificate in Form-3 under rule 4, intimation of payment and proof of withdrawal in Form-4 under rule 5 and issuance of order in Form-5 under rule 7 and the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the said declaration, undertaking, certificate, intimation and order. 9. Manner of computing disputed tax in cases where loss or unabsorbed depreciation is reduced. - (1) Where the dispute in relation t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the dispute in relation to an assessment year relates to reduction in Minimum Alternate Tax (MAT) credit to be carried forward, the declarant shall have an option to (i) include the amount by which MAT credit to be carried forward is reduced in disputed tax and carry forward the MAT credit by ignoring such amount of reduction, or (ii) carry forward the reduced MAT credit. (2) Where the declarant exercises the option as per clause (ii) of sub-rule (1), he shall be liable to pay tax, including surcharge and cess, along with interest, if any, as a consequence of carrying forward reduced MAT credit in subsequent years: Provided that in cases other than the eligible search cases, in computing the reduced amount of MAT credit to be carried forward in clause (ii) of sub-rule (1), one-half of the amount by which MAT credit is reduced shall be considered for reduction, if such reduction is related to issues covered in favour of declarant: Provided further that in case of eligible search cases, in computing the reduced amount of MAT credit to be carried forward in clause (ii) of sub-rule (1), one and one-fourth times of the amount by which MAT credit is reduced shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duly authorised and competent in this regard, the . (name of declarant) having decided to avail the benefit of the Direct Tax Vivad se Vishwas Act, 2020 do hereby voluntarily waive all its rights, whether direct or indirect, to seek or pursue any remedy or any claim in relation to the tax arrear which may otherwise be available to me under any law for the time being in force, in equity, by statute or under any agreement entered into by India with any country or territory outside India whether for protection of investment or otherwise. The above undertaking is irrevocable. I also confirm that I am aware of all the consequences of this undertaking. Place: .. .. Signature/Verification Date: .. Note: *Strike off whichever is not applicable. The undertaking is to be furnished in respect of tax arrear along with the declaration in Form-1. Form-3 [See rule 4] FORM FOR CERTIFICATE UNDER SUB-SECTION (1) OF SECTION 5 OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (3 of 2020) THE DIRECT TAX VIVAD SE VISHWAS RULES, 2020 Whereas Mr./Mrs./M/s.................................... (hereinafter referred to as the de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ____dated_____ in respect of ______________________ ________________________________________________________(Name of the declarant)_____________PAN/Aadhaar number/TAN _________________for A.Y./ F.Y._____________, the detail of payments made is as under: Sl. BSR Code of Bank Date of Deposit (DD/MM/YYYY) Serial Number of Challan Amount (Rs) (1) (2) (3) (4) (5) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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