Thursday, June 5, 2025
HomeEconomyVivad se Vishwas 2.0: CBDT notifies date for direct tax dispute resolution

Vivad se Vishwas 2.0: CBDT notifies date for direct tax dispute resolution

-

[ad_1]

The Central Board of Direct Taxes (CBDT) Saturday notified the rules and forms for the taxpayers to avail Vivad se Vishwas 2.0 scheme paving the way for settling disputes pending as on July 22.

It has reduced the number of forms and streamlined the process for settlement into a four-step process, unlike the previous scheme.

As per the notification, a taxpayer needs to first file an application and submit an undertaking to withdraw the dispute. Fifteen days after the filing of application, the tax officer concerned will certify the amount payable for settlement.

After the issuance of a tax certificate, the taxpayer will have to make the payment within 15 days and withdraw the dispute from the appellate forum, and notify the tax officer. After that, the tax officer will issue a certificate of settlement.

RECOMMENDEDSTORIES FOR YOU


“While broadly the process is similar to earlier schemes, a notable relief is that payment rates are determined based on the date of application,” said Karishma R Phatarphekar, Partner, Deloitte India.”Applications submitted on or before 31 December 2024 can settle at regular rates, while those filed on or after 1 January 2025 will be subject to enhanced rates, provided payments are made within the specified timeframes,” Phatarphekar added.On Friday, the board had appointed October 1, 2024 as the date on which the Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force.

[ad_2]

Source link

LATEST POSTS

WitchSpin Casino: Daily ₱777 Bonus Explained

Online casinos attract players by offering exciting games and generous bonuses. One of the most popular features of WitchSpin Casino is its daily ₱777 bonus....

Gaming and Adventure Combined: The Ultimate Guide for Norwegian Tourists

For many Norwegian tourists, traveling is all about exploring new places, immersing themselves in different cultures, and seeking unforgettable adventures. But what if your journey...

Non-Disclosure Agreement for Customer Privacy Protection

In today's digital age, privacy concerns are more significant than ever, especially when it comes to safeguarding the personal and sensitive information of customers. Businesses...

How to Analyze Odds for a Spot Bet

The adrenaline rush of Spot Bet—placing wagers while the action unfolds—attracts countless sports enthusiasts seeking to capitalize on their real-time insights. Yet beneath this thrilling...

Most Popular

spot_img