Vivad Se Vishwas Scheme 2024: As per a new update now more taxpayers are eligible to apply for Vivad Se Vishwas Scheme and settle their pending income tax dispute cases. Under the Vivad Se Vishwas Scheme, taxpayers need to pay the disputed tax amount and then the government will cancel the litigation case and forgo all pending interest and penalty amount.
A major update to the Direct Tax Vivad Se Vishwas Scheme, 2024 was made to provide relief to a large number of left out taxpayers who could not otherwise apply for this scheme due to certain specified situations. In an order dated January 20, 2025 the Ministry of Finance has removed ‘the difficulties’ which arose due to certain situations and provided relief to taxpayers who wanted to apply for the Vivad Se Vishwas Scheme but could not do so earlier.
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