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Informist, Wednesday, Apr. 9, 2025

 

NEW DELHI – The government has set Apr. 30 as the deadline to declare tax arrears under income tax dispute resolution scheme 'Vivad se Vishwas', the finance ministry said in a notification late on Tuesday. 

 

"In exercise of the powers conferred by clause (l) of sub-section (1) of section 89 of the Finance (No. 2) Act, 2024 (15 of 2024), the Central Government hereby notifies under the Direct Tax Vivad se Vishwas Scheme, 2024, the 30th day of April, 2025 as the last date, on or before which a declaration in respect of tax arrear shall be filed by the declarant to the designated authority, in accordance with the provisions of section 90 of the said Act," the ministry said.

 

The government had first announced the Vivad se Vishwas scheme in the Budget of 2020 to reduce the number of ongoing legal disputes related to direct taxes. The scheme provided a one-time opportunity to settle direct tax disputes pending in courts without paying any interest or penalty. 

 

In September, the government launched the second avatar of the scheme, which became operational from Oct. 1. This scheme enables settlement of disputes pending as of Jul. 22 under income tax laws.  End

 

Reported by Shubham Rana

Edited by Avishek Dutta

 

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