Eligibility with regards to DTVSV – 24 Scheme of Income Tax

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This discussion clarifies eligibility for the DTVSV 24 Scheme concerning income tax demands and interest. If you have a pending appeal against an assessment order, such as one involving unexplained cash treated as 'other source', you may be eligible to use the scheme to waive interest. The scheme's deadline has been extended to January 31, 2025, though it excludes cases related to undisclosed income or assets outside India.

Divyesh Ajmera

Divyesh Ajmera (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, Initially set for December 31, 2024, the new deadline is now January 31, 2025.

Divyesh Ajmera

Divyesh Ajmera (Querist)

01 January 2025 In. Above case, addition is made as unexplained cash treated as Other source so such case eligible under such scheme?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

01 January 2025 Yes, if you have an unresolved dispute regarding unexplained cash credits and your appeal is pending as the date, you are eligible to utilize the DTVSVS 2024 for resolution; unless it is relating to any undisclosed income from a source located outside India or undisclosed asset located outside India.

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