Nabin Agarwal
Vivad Se Vishwas Scheme 2024
For cases where an appeal is pending before an appellant forum as of July 22, 2024.
Form 1: Declaration - To be filed on or before 31.12.2024
Taxpayers must file a Declaration in Form 1. This declaration form requires detailed information about the disputed tax or penalty, including the assessment year, assessment order details, and the specific issue in dispute. The form serves as the initial step in the settlement process.
N.B.: Immediately after filing the Declaration in Form 1, inform the Appellate Authority (NFAC) that the assessee has opted for the DTVSV Scheme, 2024 and has initiated by filing Declaration in Form 1 and that the Appellate Authority should not proceed on the appeal filed.
Form 2: Certificate - Should be issued within 15 days from filing of Form 1
Upon submission of Form 1, the designated authority will review the declaration and calculate the payable amount based on the scheme's provisions. They will then issue a certificate (Form 2) indicating the amount payable. This certificate outlines the final settlement amount and provides details for the next steps.
Form 3: Confirmation of Payment and withdrawal of appeal - Shall be done within 15 days of receipt of Form 2.
The taxpayer is required to pay the determined amount as per Form 2 and withdraw the appeal. Thereafter, file Form 3 along with proof of withdrawal of appeal to confirm the payment and withdrawal of appeal. The successful submission of Form 3 concludes the dispute resolution process under the scheme. This final step marks the formal closure of the tax dispute.
Form 4: Order by Designated Authority
The order by the designated authority for full and final settlement of tax arrears by Designated Authority.
After receiving Form 4 from PCIT, the assessee has to apply before the jurisdictional AO to give effect to the above order and vacate the demand from the portal also.
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