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Which appeals are covered under Direct Tax Vivad Se Vishwas Scheme, 2024 ? Please refer to section 89 of the Direct Tax Vivad Se Vishwas Scheme, 2024 ('the DTVSV Scheme, 2024' or 'the Scheme') [contained in Chapter IV of the Finance (No.2) Act, 20241. Section 89 of the Scheme provides for th
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The DTVSV Scheme 2024 covers appeals, writ petitions, or special leave petitions filed by or against the taxpayer that were pending as of 22nd July 2024. It also includes objections filed before the Dispute Resolution Panel (DRP) where no direction was issued by 22nd July 2024, or where the DRP issued a direction but the assessment wasn't completed by that date. Applications for revision pending as of 22nd July 2024 are also covered.
The scheme does not apply to tax arrears related to assessments made based on searches initiated under sections 132/132A, cases where prosecution was instituted before the declaration filing date, undisclosed income from foreign sources or assets, or assessments based on information received under specific international agreements. Cases involving certain acts like COFEPOSA, UAPA, NDPS, PBPT, PMLA, etc., are also excluded.
There are four main forms: Form-1 for filing the declaration and undertaking, Form-2 for the Designated Authority to issue a certificate determining the payable amount, Form-3 for intimating payment by the declarant, and Form-4 for the final settlement order by the Designated Authority.
The declaration and undertaking in Form-1 must be filed by 31st December 2024 to benefit from lower payment thresholds. The Designated Authority issues Form-2 within 15 days of receiving the declaration. The taxpayer must pay the determined amount within 15 days of receiving the certificate and intimate this in Form-3.
Generally, it's not possible to settle only a penalty appeal if the appeal on the disputed tax related to that penalty is still pending. If both the quantum appeal and the penalty appeal are pending, the declarant must file a declaration for both but will only be required to pay the relevant percentage of the disputed tax.
No, the DTVSV Scheme 2024 exclusively covers disputes related to income-tax. Other taxes such as wealth tax, security transaction tax, commodity transaction tax, and equalisation levy are not included.
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