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Source: Live Mint Central Board of Direct Taxes (CBDT) has notified April 30 as the last date, on or before which a declaration in respect of tax arrears can be filed by taxpayers under the Direct Tax Vivad se Vishwas Scheme, 2024. This declaration is meant to be made to the designated authority, the CBDT circular…
Source: Live Mint Amid expectations the upcoming budget will address the issue, experts suggest steps such as reintroducing the faceless regime with personal hearings to handle complex cases, ramping up staffing, alternative dispute resolution mechanisms and mandating a one-year deadline to dispose of appeals. As per the Central Action Plan data, about 550,000 appeals were…
Source: Live Mint With the Calendar Year set to culminate in a few days, there are a few income tax deadlines that are set to expire at the same time. These deadlines relate to the filing of belated income tax return (ITR), Vivad Se Vishwas and declaration of foreign assets. Let us understand each of…
Source: Live Mint In order to bring early resolution of disputes pertaining to income tax, the Ministry of Finance rolled out Vivad Se Vishwas Scheme in October 2024, while the rules and forms were notified a few days earlier on Sept 20. After enactment of the scheme, a number of queries were received from the…
Source: Business Standard 4 min read Last Updated : Sep 23 2024 | 11:28 AM IST The Central Board of Direct Taxes (CBDT) has recently released notification, saying the Direct Tax Vivad Se Vishwas Scheme 2024 will come into effect from October 1, 2024. This scheme seeks to minimise income tax litigation by offering…
