Direct Tax Vivad Se Vishwas Scheme, 2024 to come into force from 1st October, 2024
MINISTRY OF FINANCE
(Department Of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 103/2024
New Delhi, the 19th September, 2024
S.O. 4016(E).—In exercise of the powers conferred by sub-section (2) of section 88 of the Finance (No. 2) Act, 2024 (15 of 2024), the Central Government hereby appoints the 1st day of October, 2024 as the date on which the Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force.
[F.No.370142/17/2024-TPL]
SURBENDU THAKUR, Under Secy., TPL-IV
Direct Tax Vivad Se Vishwas Scheme, 2024 was given birth by the Finance Act (No. 2) of 2024. The Scheme provided immunity from initiation of proceedings in respect of offence and imposition of penalty where the assessee makes a declaration under the DTVSVS 2024 and pays the tax arrear compromising of disputed tax, interest chargeable or charged on such disputed tax and penalty leviable.Â
Also read: Government notifies Direct Tax Vivad se Vishwas Rules 2024.
- Demand set aside as assessee for period covered had discharged tax liability under SVLDRS
- No addition u/s 68 when there is no fresh receipt of unsecured loans during the year
- Taxes on sales comprising in turnover to be excluded for estimating net profit
- Capital contribution deposited in assessee’s bank not partnership firm – Addition 69A upheld
- Bail granted to a CA accused in a GST evasion of more than 40 crores
