Direct Tax Vivad Se Vishwas Scheme 2024: CBDT notifies these rules, forms from October 1, 2024

This move is in accordance with the announcement made in the Union Budget 2024–25 by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman. Starting on October 1, 2024, the aforementioned Scheme will be implemented.

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The DTVSV Scheme provides for lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’. The DTVSV Scheme also provides for lesser settlement amounts for taxpayers who file declaration on or before December 31, 2024 in comparison to those who file thereafter.

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Form-1: Form for filing declaration and Undertaking by the declarant

Form-2: Form for Certificate to be issued by Designated Authority

Form-3: Form for Intimation of payment by the declarant

Form-4: Order for Full and Final Settlement of tax arrears by Designated Authority

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The DTVSV Scheme also provides that Form-1 shall be filed separately for each dispute provided that where appellant and the income-tax authority, both have filed an appeal in respect of the same order, single Form-1 shall be filed in such a case.

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The intimation of payment is to be made in Form-3 and is to be furnished to the Designated Authority along with proof of withdrawal of appeal, objection, application, writ petition, special leave petition, or claim.

Forms 1 and 3 shall be furnished electronically by the declarant. These Forms will be made available on the e-filing portal of Income Tax Department i.e. www.incometax.gov.in.

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