Explore the CBDT’s Direct Tax Vivad Se Vishwas Scheme, 2024, designed to settle pending income tax appeals and provide clarity for taxpayers. The Udaipur Best CA can help you to resolve income tax disputes. Get start for a hassle-free solution and resolve outstanding income tax disputes efficiently and effectively.

On 19 September 2024, the Central Board of Direct Taxes (CBDT) issued Notification No. 103/2024 specifying 1 October 2024 as the date on which VSV 2.0 shall come into force. Accordingly, taxpayers can file declaration under VSV 2.0 on or after 1 October 2024

Direct Tax Vivad Se Vishwas

The Central Board of Direct Taxes (CBDT) has announced the Direct Tax Vivad Se Vishwas Scheme, 2024 (also known as DTVSV, 2024) to settle outstanding appeals in cases of income tax disputes.

Union Budget 2024–25

This move is in accordance with the announcement made in the Union Budget 2024–25 by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman. Starting on October 1, 2024, the aforementioned Scheme will be implemented.

What is DTVSV

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 December 31, 2024 in comparison to those who file thereafter.

Four separate Forms have been notified

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

DTVSV Scheme Form-1

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.

DTVSV Scheme Form-3

The intimation of payment is to be made in Form-3 and is to be furnished to the Designated Authority along with 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

Explore the Direct Tax Vivad Se Vishwas Scheme, by CBDT. Quick solutions for your income tax disputes await. Settle your income tax disputes quickly and easily With the Udaipur Best CA. Act now to resolve outstanding appeals! Don’t wait—take action to facilitate the resolution of income tax disputes and outstanding appeals with the support of Udaipur Best CA .