FAQs are designed to guide stakeholders, helping them understand the nuances and benefits of the scheme.
The Central Board of Direct Taxes (CBDT) has issued a comprehensive Guidance Note in the form of Frequently Asked Questions (FAQs) to address various queries related to the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024. This scheme, introduced to expedite the resolution of pending income tax disputes, was announced by the Union Finance Minister in the Union Budget 2024-25.
The DTVSV Scheme was officially enacted through the Finance (No. 2) Act, 2024, and the relevant Rules and Forms necessary for its implementation were notified on September 20, 2024.
Taxpayers can refer to sections 88 to 99 of the Finance (No. 2) Act, 2024, along with the Direct Tax Vivad Se Vishwas Rules, 2024, for detailed provisions and further clarity. The FAQs are designed to guide stakeholders, helping them understand the nuances and benefits of the scheme.
For more information and access to the full Guidance Note, visit the official Income Tax Department portal at https://incometaxindia.gov.in/news/circular-12-2024.pdf.
This scheme aims to simplify tax dispute resolutions and encourage timely compliance.
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