Wealth tax, STT, CTT disputes kept out of 'Vivad Se Vishwas' scheme

The liability would go up to 110 per cent (135 per cent in search cases) if the taxpayer pays between April 1-June 30

Disputes relating to wealth, securities transaction, commodity transaction taxes and equalisation levy will not be covered under 'Vivad Se Vishwas' amnesty scheme.

Issuing a detailed FAQ, the Income Tax department has clarified that the declarant has to deposit the disputed tax amount within 15 days after determination of the tax liability by a designated authority under the scheme.
 

It also said that a declarant will be entitled to refund in case the amount already paid at the appellate stage is more than the amount payable under the scheme.
 

In cases where taxpayer's appeals are pending before appellate forums, High Courts and