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.
Also read: Government notifies Direct Tax Vivad se Vishwas Rules 2024.
- If assessee fails to explain source of purchases, estimating profit rate contrary to Section 69C
- Income Tax Department not trusted even upon its lawyers – SC slams ITD for delay
- Goods loaded in two trucks with one e-way bill stating both truck numbers – No evasion
- GOI makes four new Labour Codes effective from 21st November 2025
- Provident fund dues have first charge over claim of bank under SARFAESI Act – SC
