CBDT Extends Deadline for Tax Payable Calculation Under Vivad Se Vishwas Scheme, 2024 to 31st January 2025

The CBDT has extended the deadline for calculating tax payable under the Vivad Se Vishwas Scheme, 2024, to January 31, 2025. This scheme provides taxpayers with an opportunity to resolve tax disputes by paying only the disputed tax amount, with a waiver of penalties and interest. The extension is aimed at enabling taxpayers more time to calculate their dues, including interest, and settle their matters under the scheme. This move benefits both taxpayers and the government by simplifying the process of dispute resolution. The government hopes to improve compliance and bring closure to long-standing litigation in the tax system, enhancing overall efficiency.