the deadline for the Vivad Se Vishwas Scheme has been extended. This provides taxpayers with more time to settle their tax disputes by paying a reduced amount of tax.   

Here are some key points:

  • Extended Deadline: The deadline for determining the tax dues and filing a declaration under the scheme has been extended to January 31, 2025.   
  • Reduced Tax Liability: Taxpayers who file their declarations before January 31, 2025, can pay a lower amount of tax compared to those who file after that date.
  • Eligibility: The scheme applies to tax arrears, including disputed tax, interest, and penalties, for cases pending before various legal forums as of July 22, 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 (‘the Scheme’) extends the due date for determining amount payable as per column (3) of the Table specified in section 90 Of the Scheme from 31 December, 2024 to 31 January, 2025,” The Income Tax Department said in a circular dated December 30, 2024.

This extension aims to provide relief to taxpayers who may have been unable to meet the original deadline and encourage them to resolve their tax disputes amicably.   

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