In a significant relief for taxpayers, the Central Board of Direct Taxes (CBDT), through Circular No. 20/2024 dated December 30, 2024, has extended the due date for determining the payable amount under column (3) of the Table in section 90 of the Direct Tax Vivad Se Vishwas Scheme, 2024. The new deadline is now January 31, 2025, providing an additional month for taxpayers to avail the benefits of the scheme.
The Central Board of Direct Taxes (CBDT), in exercise of its powers under sub-section (2) of section 97 of the Direct Tax Vivad Se Vishwas Scheme, 2024 ('the Scheme') extends the due date for determining amount payable as per column (3) of the Table specified in section 90 of the Scheme from 31st December, 2024 to 31st January, 2025.
Accordingly, notwithstanding anything contained in the Direct Tax Vivad Se Vishwas Scheme, Rules or Guidance Note of 2024, in such cases where declaration is filed on or before 31st January, 2025, amount payable shall be determined as per column (3) of the Table specified in section 90 of the Scheme, and where declaration is filed on or after 01st February, 2025, amount payable shall be determined as per column (4) of the said Table.
Key Highlights
- Revised Deadline: The earlier due date of December 31, 2024, has been extended to January 31, 2025.
- Impact on Payable Amount:
- Declarations filed on or before January 31, 2025, will adhere to column (3) of the Table.
- Declarations filed on or after February 1, 2025, will follow column (4) of the Table, potentially altering the payable amount.
Official copy of the circular has also been attached
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