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Using the Density Functional Theory (DFT) calculations, we determined theelectronic and magnetic properties of a T-phase VS$_2$ bilayer as a function oftensile and compressive strain. First, we determine the ground state structuralparameters and then the band structure, magnetic anisotropy, exchangeparameters, and Curie temperature. Variation of these parameters with thestrain is carefully analyzed and described. The easy-plane anisotropy, which israther small in the absence of strain, becomes remarkably enhanced by tensilestrain and reduced almost to zero by compressive strain. We also show that theexchange parameters and the Curie temperature are remarkably reduced for thecompressive strains below roughly -4$\%$.

Effect of strain on the electronic and magnetic properties of bilayer T-phase VS2: A first-principles study