The Central Board of Direct Taxes (CBDT) has issued a Guidance Note in the form of Frequently Asked Questions (FAQs) to address various queries raised by stakeholders regarding the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024. This move aims to provide clarity and facilitate better understanding of the provisions of the scheme among taxpayers.
About the Direct Tax Vivad Se Vishwas Scheme, 2024
The DTVSV Scheme, 2024, introduced in the Union Budget 2024-25 by the Finance Minister, was enacted through the Finance (No. 2) Act, 2024. The scheme is designed to resolve pending income tax disputes and offers taxpayers an opportunity to settle tax-related cases without prolonged litigation. Following the enactment, the Direct Tax Vivad Se Vishwas Rules, 2024, and corresponding forms were notified on September 20, 2024.
Purpose of the FAQs
The FAQs issued by the CBDT aim to provide clarity on:
- Eligibility criteria for taxpayers to avail the scheme.
- Procedures for settlement of disputes under the scheme.
- Forms and documentation required for the application.
- Details on payment of tax dues and benefits available under the scheme.
- Specific provisions and timelines under sections 88 to 99 of the Finance (No. 2) Act, 2024, which govern the scheme.
Access to the FAQs
Taxpayers and stakeholders can access the FAQs and Guidance Note on the Income Tax Department’s official portal here.
This initiative by the CBDT ensures that taxpayers have all the necessary information to navigate the scheme, helping them to resolve pending disputes efficiently while benefiting from the scheme’s provisions.
For more detailed information, taxpayers are encouraged to refer to the Direct Tax Vivad Se Vishwas Rules, 2024, and the sections of the Finance Act related to the scheme.
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