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Direct Tax | Tax Alert



The Bill is applicable to the appeals (whether filed by the taxpayer or the Revenue Authority) pending as on 31 January 2020, before any of the following appellate forum:Supreme Court; orHigh Courts; orIncome Tax Appellant Tribunals (ITAT) or CIT(A)

Depending upon the nature of tax arrears, the amount payable by the taxpayer under the Bill is tabulated hereunder :-

The Cases where the benefit of Bill cannot be availed

o Search Assessments

o Prosecution Initiated before application

o Undisclosed Asset Located Outside India

o International Tax Assessments u/s 90 & 91

o Enhancement Notice by CIT(A)

The Designated Authority shall, within 15 days from the date of receipt of the declaration, determine the amount payable by the taxpayer containing the particulars of the tax arrears and the amount payable after such determination.

Further, the taxpayer shall pay the amount within 15 days from the date of receipt of the certificate and intimate the details of such payment to the Designated Authority.

Clarity on whether credit for taxes paid (say 20% of tax paid for getting stay on the demand) shall be available against the tax demand determined under the Bill.

The last date for availing the benefit under this Bill will be notified by the Central Government.


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