Vivad Se Vishwas Scheme 2024:
The Central Government has officially notified April 30, 2025, as the final deadline for filing declarations under the Direct Tax Vivad Se Vishwas Scheme (DTVSV), 2024. This clarification comes through Notification No. S.O. 1650(E), confirming the last date for taxpayers to settle pending disputes under this scheme.
Key Highlights of the Notification
- The last date to submit a declaration under the DTVSV Scheme, 2024, is now April 30, 2025.
- Taxpayers must file their declarations with the designated authority on or before this date to resolve tax arrears under the scheme.
DTVSV Scheme 2024 & Earlier Clarifications
The Direct Tax Vivad Se Vishwas Scheme, 2024, introduced in the Finance (No. 2) Act, 2024, provides a dispute resolution mechanism for taxpayers with pending income tax disputes. Key features include:
- Waiver of interest and penalties if the taxpayer pays the disputed tax amount.
- Earlier deadline for reduced settlement: Taxpayers who paid the full disputed tax by January 31, 2025, benefited from lower payments.
- Clarifications issued on January 20, 2025, expanded eligibility for cases where:
- Appeals were pending as of July 22, 2024 (the scheme’s cutoff date).
- Appeals were filed after July 22 but within the permissible time.
What Should Taxpayers Do Now?
- Check Eligibility: Verify if pending tax disputes qualify under the scheme.
- Assess Financial Implications: Determine the disputed tax amount and potential savings under the scheme.
- File Declarations Before April 30, 2025: Submit necessary documents to the designated authority.
- Seek Professional Advice: Consult a tax expert like Taxunplug for guidance on complex cases.
Useful Links
- Download Official Notification,Click Here
- Read More about DTVSV Scheme, 2024, Click Here
Vivad Se Vishwas Scheme 2024
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