In order to facilitate the various queries raised by the stakeholders following the enactment of the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, the Central Board of Direct Taxes (CBDT) has today issued a Guidance Note in the form of Frequently Asked Questions (FAQs). This note is designed to provide clarity and assist taxpayers in better understanding the provisions of the Scheme.

The Guidance Note can be accessed on the Income Tax Department’s official portal at https://incometaxindia.gov.in/news/circular-12-2024.pdf.

The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, was announced in the Union Budget 2024-25 by the Union Finance Minister to resolve pending income tax disputes. The scheme was enacted through the Finance (No. 2) Act, 2024. Additionally, the corresponding Rules and Forms for implementing the Scheme were notified on September 20, 2024.

For detailed provisions of the DTVSV Scheme, 2024, sections 88 to 99 of the Finance (No. 2) Act, 2024, may be referred along with the Direct Tax Vivad Se Vishwas Rules, 2024.

Direct Tax Vivad Se Vishwas scheme clarifies taxpayer eligibility and procedural settlement mechanics under the new framework. The Central Board of Direct Taxes issued a Guidance Note of Frequently Asked Questions to explain operative features and implementation mechanics of the Direct Tax Vivad Se Vishwas Scheme, clarifying taxpayer eligibility, procedural steps for settlement, prescribed Forms, and administrative procedures as set out in the Scheme's statutory framework and accompanying Rules.