The Central Board of Direct Taxes has announced the Direct Tax Vivaad se Vishwas (DTVSV) Scheme, 2024, aimed at resolving outstanding appeals related to income tax disputes.
The new rules aim to establish a clearer framework for dispute resolution, potentially decreasing litigation and enhancing compliance. Taxpayers are urged to understand the definitions and procedures detailed in the rules to fully benefit from the available provisions.
The DTVSV Scheme also provides that Form-1 shall be filed separately for each dispute provided that where appellant and the income-tax authority, both have filed an appeal in respect of the same order, single Form-1 shall be filed in such a case.
These rules will come into force with effect from October 1.
Official Notification: