Eligibility with regards to DTVSV – 24 Scheme of Income Tax

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This discussion concerns eligibility for the DTVSV – 24 Scheme of Income Tax, specifically regarding the waiver of interest. Mr. A has an outstanding tax demand and has paid a portion of the tax. The DTVSV scheme's deadline for determining payable amounts has been extended to January 31, 2025, though the income tax portal may not yet reflect this. Despite the portal's outdated date, it's advised to proceed with filing Form 1 by the extended deadline.

PRAVIN CHITRODA

PRAVIN CHITRODA (Querist)

30 December 2024 Assessing officer has finalized the assessment for the A.Y.2016-17 and imposed a demand of Rs.17,63,712/- (including interest).
Mr.A has filed the appeal against the order and paid the Tax amount of Rs. 6,34,480/- as on dated 10th april 2024. Whether Mr.A is eligible for the DTVSV – 24 Scheme of Income Tax to waive interest ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

31 December 2024 Yes, Mr. A has already paid a portion of the tax demand (Rs. 6,34,480) and assuming it pertains to the tax amount itself (not interest), he may be eligible to apply under the DTVSV Scheme for the waiver of interest.

PRAVIN CHITRODA

PRAVIN CHITRODA (Querist)

13 January 2025 The due date extended for determining amount
payable as per direct tax vivad se vishvas scheme,
2024 from 31 december 2024 to 31 january 2025 as
per circular no. 20/2024 of central board of direct
taxes. But on the income tax portal the extension
update has not been made. It still shows 31
december 2024 for which snapshot has been
attached herewith for your kind reference.
As per circular if we fle Form 1 of DTVSV on or
before 31 january 2025 we have to pay 100 percent
of tax amount but on the portal date has not been
updated. Whether we continue to fle the form ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

13 January 2025 File it as per date 31.12.2024 only.

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