Vivad se Vishwas Scheme 2024: Taxpayers facing income tax disputes can choose to settle their tax disputes under the Vivad se Vishwas Scheme 2024. Any application made on or after 1st January 2025 will not be eligible for a lower tax amount under the Vivad Se Vishwas Scheme If taxpayers file a declaration before December 31, 2024, they must pay …
New Delhi: The Union government on Friday said the second edition of the Direct Tax Vivad Se Vishwas Scheme 2024, which will help reduce litigation and bring certainty for taxpayers, will become operational from 1 October. {{^adFree}} {{/adFree}} "In exercise of the powers conferred by sub-section of section 88 of the Finance Act, 2024, the Central Government hereby appoints the …
The Central Board Direct Tax on Wednesday clarified that taxpayers will not be able to avail benefits under the Vivad se Vishwas scheme in cases where prosecution has been instituted.The CBDT, through a FAQ has, has clarified that, "where only notice for initiation of prosecution has been issued without prosecution being instituted, the assessee is eligible to file declaration. The …
The government expects to resolve 90% of the income tax disputes through ‘Vivaad se Vishwas’ scheme announced in the Budget for 2020-21, Union Minister Anurag Singh Thakur said on Tuesday. “We hope more than 90% pending income tax cases will be settled under ‘Vivaad Se Vishwas’,” Mr. Thakur said, while speaking at an employment fair organised by a local non-profit, …