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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>India's 2024 Tax Scheme Resolves Income Tax Disputes, Offers Immunity for Settled Cases, Excludes Foreign Asset Cases.</h1> The Direct Tax Vivad Se Vishwas Scheme, 2024 aims to resolve pending income tax disputes, reduce litigation, and generate timely government revenue. The scheme, effective from October 1, 2024, allows taxpayers to settle disputes by paying specified percentages of disputed tax, interest, and penalties. Certain cases, such as those involving undisclosed foreign income or assets and those under specific acts, are ineligible. The scheme outlines forms and timelines for declarations and payments. It does not cover wealth tax or other non-income tax disputes. Immunity from prosecution extends to company directors or partners for settled disputes.
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