Vivad se Vishwas scheme: settlement framework for declaration, payment and immunity to resolve direct tax disputes. The Direct Tax Vivad Se Vishwas Scheme, 2024 creates a framework for settling specified direct tax disputes by permitting a declarant to furnish a prescribed declaration and pay an amount calculated under the Scheme. It defines key terms, prescribes particulars for the declaration, and sets the time and manner for payment of tax arrears. The Scheme provides immunity from initiation of certain proceedings and from certain penalties in prescribed cases, a no refund rule for amounts paid, specified exclusions, and confers powers to issue directions, remove difficulties and make rules for implementation.
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Vivad se Vishwas scheme: settlement framework for declaration, payment and immunity to resolve direct tax disputes.
The Direct Tax Vivad Se Vishwas Scheme, 2024 creates a framework for settling specified direct tax disputes by permitting a declarant to furnish a prescribed declaration and pay an amount calculated under the Scheme. It defines key terms, prescribes particulars for the declaration, and sets the time and manner for payment of tax arrears. The Scheme provides immunity from initiation of certain proceedings and from certain penalties in prescribed cases, a no refund rule for amounts paid, specified exclusions, and confers powers to issue directions, remove difficulties and make rules for implementation.
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