Vivad Se Vishwas Scheme 2024: Income Tax department releases new FAQs

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Vivad Se Vishwas Scheme 2024: Income Tax department releases new FAQs - Business Standard

Quick Summary:

A person who has filed an application for revision under Section 264 of the Act, and such application remains pending as of July 22, 2024.

As per section 92(2) of the scheme, the declarant shall pay the amount determined under section 92(1) of the scheme within a period of fifteen days of the date of receipt of the certificate and intimate the details of such payment to the designated authority in the prescribed form and thereupon the designated authority shall pass an order stating that the declarant has paid the amount. There is no provision in the Scheme allowing payment of the amount determined under 92(1) of the Scheme through adjustment of any refund expected from the Department.

But subsequently, before the taxpayer could file a declaration under the DTVSV Scheme, 2024, her appeal was disposed of on merits or dismissed as withdrawn for the purposes of the Scheme.