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Govt notifies Oct 1 as start date for Vivad Se Vishwas 2.0

New Delhi: The government has notified October 1 as the starting date for Vivad Se Vishwas 2.0 scheme.

Vivad Se Vishwas scheme 2.0 was originally announced in Budget 2024-25 presented in July for resolution of certain income tax disputes pending appeal.

“The central government hereby appoints the 1st day of October, 2024 as the date on which the Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force,” the finance ministry said in a notification. Around 2.7 crore direct tax demands totalling about Rs 35 lakh crore are being disputed at various legal foras.

Finance Minister Nirmala Sitharaman in her Budget speech had said that the government will continue its efforts to simplify taxes, improve taxpayer services, provide tax certainty and reduce litigation while enhancing revenues.

The scheme can be availed by taxpayers who have disputes/appeals, including writs and special leave petitions(appeals) whether filed by the taxpayer or the tax authorities are pending as on July 22, 2024 before the Supreme Court, high courts, Income Tax Appellate Tribunal, Commissioner/Joint Commissioner (Appeals).

It would also include cases pending before Dispute Resolution Panel (DRP) and revision petitions pending before the Commissioner of Income Tax.

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