 Early Times Report
KATRA, Dec 20: The Income Tax Department, Katra, organized an interactive session and seminar on the Direct Tax 'Vivad Se Vishwas (DTVSV) Scheme-2024' for Chartered Accountants and tax professionals from Katra and Reasi.
The session, chaired by Vijay Choudhary, Income Tax Officer, Katra, focused on the dispute resolution mechanisms for appeals pending before appellate forums, writ petitions, and special leave petitions as of July 22, 2024. Prominent tax professionals, including CA Ritender Gupta and CA Pankaj Sharma, were also present.
The scheme, introduced in the Union Budget 2024-25, provides businesses with opportunities to resolve tax-related disputes. Participants were briefed on the scheme's benefits, payment structure, and timelines. It was clarified that cases settled after July 22, 2024, are still eligible, provided they were pending on the cut-off date.
Declarations filed before December 31, 2024, will enjoy favorable payment rates, while those filed after January 1, 2025, will be subject to different terms. The session concluded with tax professionals resolving to spread awareness of the scheme among eligible stakeholders and appreciating the Income Tax Department's initiative. |
