Waiver of rights: irrevocable undertaking bars all remedies to challenge specified tax arrears under the Vivad se Vishwas framework.

The undertaking under sub section (5) of section 4 of the Direct Tax Vivad se Vishwas Act, 2020 is a voluntary and irrevocable waiver of all rights to seek or pursue any remedy or claim in relation to the tax arrear, whether available under domestic law, equity, statute or under any agreement entered into by India with another country or territory. It must identify the declarant by PAN/Aadhaar/TAN and can be executed by the taxpayer or a duly authorised representative; it must be signed, dated and filed along with the declaration in Form 1, with confirmation that the declarant is aware of the consequences.

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