The Central Board of Direct Tax (CBDT) has notified the extension of due date for determining the amount payable as per column (3) of Table specified in section 90 of Direct Tax Vivad Se Vishwas Scheme, 2024.
The Central Board of Direct Taxes (CBDT), in exercise of its powers under sub-section (2) of section 97 of the Direct Tax Vivad Se Vishwas Scheme, 2024 extends the due date for determining amount payable as per column (3) of the Table specified in section 90 of the Scheme from 31st December, 2024 to 31st January, 2025.
Notwithstanding anything contained in the Direct Tax Vivad Se Vishwas Scheme, Rules or Guidance Note of 2024, in such cases where declaration is filed on or before 31st January, 2025, amount payable shall be determined as per column (3) of the Table specified in section 90 of the Scheme, and where declaration is filed on or after 01st February, 2025, amount payable shall be determined as per column (4) of the Table.
About Direct Tax Vivad Se Vishwas Scheme, 2024
In pursuance of the announcement in Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the Central Board of Direct Taxes (CBDT) has notified the Direct Tax Vivad Se Vishwas Scheme, 2024 (referred as DTVSV, 2024) to resolve pending appeals in the case of income tax disputes. The Scheme came into force with effect from 1st Oct. 2024.
The DTVSV Scheme, 2024 was enacted vide Finance (No. 2) Act, 2024. Further, the Rules and Forms for enabling the Scheme have also been notified vide Notification No. 104/2024 in G.S.R 584(E) dated 20.09.2024.
The DTVSV Scheme provides for lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’. The DTVSV Scheme also provides for lesser settlement amounts for taxpayers who file declaration on or before 31.12.2024 which is now extended to 31 January 2024 in comparison to those who file thereafter.
Four separate Forms have been notified for the purposes of the DTVSV Scheme. These are as under:
- Form-1: Form for filing declaration and Undertaking by the declarant
- Form-2: Form for Certificate to be issued by Designated Authority
- Form-3: Form for Intimation of payment by the declarant
- Form-4: Order for Full and Final Settlement of tax arrears by Designated Authority
The DTVSV Scheme also provides that Form-1 shall be filed separately for each dispute provided that where appellant and the income-tax authority, both have filed an appeal in respect of the same order, single Form-1 shall be filed in such a case.
The intimation of payment is to be made in Form-3 and is to be furnished to the Designated Authority alongwith proof of withdrawal of appeal, objection, application, writ petition, special leave petition, or claim.
Forms 1 and 3 shall be furnished electronically by the declarant. These Forms will be made available on the e-filing portal of Income Tax Department i.e. www.incometax.gov.in.
This is another initiative by the Government towards litigation management.
Circular Details
Circular No. 20/2024
Date: 30/12/2024
