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GOVERNMENT POLICIES AND SCHEMES - January 2025

Jan 2025

Jan 01, 2025

Vivad Se Vishwas Scheme Gets One-month Extension

  • The government extended by a month the due date to resolve pending appeals in the case of income tax disputes under the Vivad Se Vishwas Scheme.
  • The Central Board of Direct Taxes (CBDT) extended the due date for determining amount payable from December 31, 2024, to January 31, 2025.
  • The Vivad Se Vishwas Scheme was initially announced in the Union Budget for 2024-25. On September 20, the CBDT notified the Scheme that came into force with effect from October 1, 2024.
  • The Scheme provides for lesser settlement amounts for a 'new appellant' in comparison to an 'old appellant'.
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