Vivad se vishwas dtvsv scheme 2024 last date

Quick: Vivad se vishwas dtvsv scheme 2024 last date, streamlines dispute resolution, offers lower costs.

As per notification number 104/2024 provides information regarding the operational implementation of the Dtvsv scheme 2024 this information is available.

Dtvsv scheme 2024 was introduced after an announcement in the Union budget 2024-25 by Union Finance Minister Nirmala Sitharaman. This is the new version of the Vivid Se Vishwas scheme introduced in 2020. Vivad se Vishwas dtvsv scheme 2024 offers a lesser settlement amount for taxpayers willing to settle the dispute earlier, particularly for those who file a declaration by December 31st, 2024.

Vivad se vishwas dtvsv scheme 2024 last date

Dtvsv scheme 2024 is effective from the first of October and this scheme offers a reduced settlement amount for a new appellant as compared to the appellant. This scheme also benefits those who file a declaration before 31st December by giving a lesser settlement amount.

Vivad se vishwas dtvsv scheme 2024 is designed to mitigate income tax litigation by alloying taxpayers to resolve Income Tax appeals.

Who is eligible for Vivad se vishwas dtvsv scheme 2024?

There are some eligibility requirements that you need to fulfill such as:

• Taxpayers with a pending appeal before Commissioner of Income Tax appeals, High Court of Supreme Court.
• Taxpayers who have filed objections with the dispute resolution panel (DRP) under section 144C of the Income Tax Act and DRP have not yet issued directions to the assessing officer (AO).
• Taxpayers who drop have shown directions to AO, but AO has not issued a final assessment order.
• Next year with pending revision application under section 264 Income Tax Act.

Forms Under Dtvsv scheme 2024

Form 1: Form for declaration and taking by declarant

• The taxpayer can use Form 1 to declare their intention to settle tax disputes and provide an undertaking to withdraw any pending legal proceedings.
• Each dispute required a separate form 1.
• In this forum taxpayer and text, authorities have filed and appealed written a petition or especially a petition related to the same order.
• The declaration and taking must be verified by the taxpayer or a person authorized to verify the income tax return.
• After receiving form 1 designated authority bill electronely acknowledge receipt.

Form 2: Form for certification to be issued by the designated authority

In this form for designator authority issues the certificate in Form 2 containing particular tax arrears and the amount payable after the determination.

Form 3: Form of intimation payment by declarant

• The declarant must use Form 3 to inform the designated authority about the successful payment of the settlement amount. This intimation should be a complaint by the proof that can appeal objection application, writ parmesan special limitation, or claim-related dispute.

Form 4: Oder for full and final settlement of tax arrears by the designated authority

The final order is issued by the designated authority in Form 4, confirming the full and final settlement of the tax dispute. It outlets the term of settlement including the amount paid by the taxpayer.

Dtvsv scheme 2024 last date

Dtvsv scheme 2024 provides for lesser treatment amounts for new appellants in comparison to old appellants. This scheme also provides for a lesser settlement amount for the taxpayer who files a declaration on our before 31st December in comparison to those who file after this date.

Official website – click Here

Important Links:

• 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

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