CBDT Notifies Direct Tax Vivad Se Vishwas Rules, 2024 and Relevant Forms

By: Admin | September 20, 2024 | Categories: #CBDTNotification, #Circulars

The CBDT has issued Notification No. 104/2024 on September 20, 2024, announcing the Direct Tax Vivad se Vishwas Rules, 2024 along with the relevant forms. The rules aim to provide clarity on resolving pending disputes related to direct taxes under the Finance (No. 2) Act, 2024. Key provisions include definitions, computation of disputed tax, and procedures for filing declarations and undertakings.

The notification provides detailed procedures for declarants, outlining forms and processes under sections 91 and 92 of the Act. Declarants must file their disputes with designated authorities using Form-1 by December 31, 2024, or face adjusted payment terms after January 1, 2025. Additionally, provisions for Minimum Alternate Tax (MAT) credit and unabsorbed depreciation reductions are included.

This notification plays a crucial role in simplifying tax dispute resolutions under the Vivad se Vishwas scheme.

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