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Income tax dispute: Avail Vivad Se Vishwas scheme before December 31, 2024 to pay lower tax Amount
Vivad se Vishwas: If you want to settle your pending tax disputes then apply for Vivad Se Vishwas Scheme, 2024 on or before December 31, 2024 to pay a lower amount of income tax. You can apply for this scheme after Decemeber 31, 2024 as well but you need to pay 10% extra tax.
Taxpayers troubled with income tax disputes should avail Direct Tax Vivad Se Vishwas Scheme on or before December 31, 2024, to pay a lower disputed tax amount. The Direct Tax Vivad Se Vishwas Scheme 2024 announced in Budget 2024 provides an opportunity to taxpayers for settling their pending tax disputes with the Income Tax Department. Under this scheme, you need to pay the disputed amount of tax as well as a specified percentage on this disputed tax amount along with disputed tax amount.
Once the specified tax amount is deposited to the government along with the application form, the income tax department will waive off all the additional penalties, penal interest amount and close the tax dispute case.
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