Budget 2024-25 announces New Direct Tax Vivad se Vishwas Scheme, 2024

The Budget 2024-25 introduces a new Direct Tax Vivad Se Vishwas Scheme, aimed at reducing litigation and disputes over direct taxes. This scheme offers taxpayers a chance to settle pending tax disputes by paying the disputed amount along with a reduced penalty. It is designed to simplify tax resolution and expedite the settlement process, making it easier for taxpayers to clear their dues and avoid prolonged litigation. The scheme targets cases that are under appeal or pending in various forums, providing a streamlined approach for resolution.