The Central Board of Direct Taxes (CBDT), under the Ministry of Finance on December 30, 2024, has announced an extension for the Direct Tax Vivad Se Vishwas Scheme, 2024. This extension impacts the due date for determining the amount payable under column (3) of the table specified in section 90 of the Scheme.
Key Points from the Notification:
- New Deadline: The due date for determining the amount payable has been extended from December 31, 2024, to January 31, 2025.
- Impact on Amount Payable:
- If the declaration under the scheme is filed on or before January 31, 2025, the amount payable will be determined according to column (3) of the table outlined in section 90 of the scheme.
- For declarations filed on or after February 1, 2025, the amount payable will be calculated as per column (4) of the same table.
This extension aims to provide taxpayers more time to complete their declarations and settle their dues under the Direct Tax Vivad Se Vishwas Scheme, which is designed to resolve pending tax disputes by offering a simplified payment structure.
The decision is expected to benefit many taxpayers seeking to resolve outstanding issues under the scheme, offering them additional time for compliance.
