Frequently Asked Questions in relation to Direct Tax

The Central Board of Direct Taxes has issued second round of 34 Frequently Asked Questions (FAQs) to address the issues raised by stakeholders relating to the operation of The Direct Tax Vivad Se Vishwas Act 2020. The Circular is issued in continuation of an earlier circular (here) which contained the first round of 55 FAQs. In the same manner as the first round, the clarifications in second round deal with the issues of eligibility of a taxpayer to settle its case under the scheme in different situations, manner of computing the quantum of disputed tax payable, consequences of settlement under the scheme, certain procedural aspects etc. Please refer to the circular here and For further details please reach us here.