Direct Tax Vivad Se Vishwas Scheme

Tax relief: Govt tweaks rules under Direct Tax Vivad Se Vishwas Scheme to settle these tax disputes; check details

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Tax relief: Govt tweaks rules under Direct Tax Vivad Se Vishwas Scheme to settle these tax disputes; check details

The Finance Ministry has recently modified the Direct Tax Vivad Se Vishwas Scheme, 2024 to address issues faced by taxpayers and provide relief. A circular issued by the ministry stated that the changes were made to remove difficulties that had hindered taxpayers from applying for the scheme earlier.  The government has released crucial clarifications in … Read more

Direct Tax Vivad Se Vishwas Scheme: File a dispute declaration before Dec 31 or pay 110% of tax demand on Jan 1

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Direct Tax Vivad Se Vishwas Scheme: File a dispute declaration before Dec 31 or pay 110% of tax demand on Jan 1

Tax disputes: In the Budget 2024 speech, Union Finance Minister Nirmala Sitharaman unveiled the Vivad Se Vishwas Scheme to assist taxpayers in resolving their tax disputes with the income tax department. This scheme allows taxpayers to settle their outstanding tax liabilities by paying the disputed amount along with a defined percentage. By doing so, taxpayers … Read more