Vivad Se Vishwas Scheme 2024: CBDT Opens Final Window for Tax Arrear Declarations - Check Deadline

The Central Board of Direct Taxes (CBDT) in an official notification announced that the last date for the declaration of tax arrears under its Direct Tax Vivad se Vishwas Scheme, 2024.

What Is The Last Date?

The last date for the declaration of tax arrears under the Direct Tax Vivaad se Vishwas Scheme which was re-introduced in Budget 2024.

"In exercise of the powers conferred by clause (l) of sub-section (1) of section 89 of the Finance (No. 2) Act, 2024 (15 of 2024), the Central Government hereby notifies under the Direct Tax Vivad se Vishwas Scheme, 2024, the 30th day of April 2025 as the last date, on or before which a declaration in respect of tax arrear shall be filed by the declarant to the designated authority, in accordance with the provisions of section 90 of the said Act," an official statement said.

What Does The Vivad Se Vishwas Scheme Do?

The Vivad se Vishwas scheme allows taxpayers to settle their pending writs, petitions, and appeals before appellate authorities, including the Supreme Court and High Courts as of July 22, 2024.

The second edition of this scheme (VSV 2.0) was initiated by the government starting October 1, 2024. The Union Budget also officially notified the scheme for the fiscal year FY25.

Any taxpayer opting for this scheme would also pay the specified percentage of the disputed tax, with interest, penalty and the prosecution provisions would be waived-off. In case the disputes are only related to interest, penalty or fee, a reduced percentage of the same shall be paid under the scheme.

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