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Vivad se Vishwas (VSV) Scheme 2024

The Vivad se Vishwas (VSV) Scheme 2024 offers taxpayers a chance to settle pending income tax disputes by paying only the disputed amount, with complete waiver of interest, penalties, and prosecution . It aims to reduce litigation and ensure faster resolution of tax cases .<br><br>For more information or expert assistance in filing under the VSV scheme, here are some of the best firms in India that can guide you through the process:<br><br>Dewan P.N. Chopra & Co<br>Desai Hari Bhakt & Company<br>SN Dhawan & Company<br>Nangia Advisors

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Vivad se Vishwas (VSV) Scheme 2024

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  1. Vivad se Vishwas (VSV) Scheme 2024

  2. Vivad se Vishwas (VSV) Scheme 2024 What is the VSV Scheme 2024? The Vivad se Vishwas (VSV) Scheme 2024 is a government initiative aimed at reducing direct tax litigation in India 🏛️. It allows taxpayers to settle pending disputes by paying a defined amount and getting a waiveron interest,penalty, and prosecution🎯. The schemeoffers asimplified resolution path for appealspending before CIT(A),ITAT, HighCourt, and Supreme Court as of the cut-off date 📅. Objective of the Scheme To reduce tax litigation ⛔ To free up resources of taxpayers and tax authorities 🔓 To provide certainty and ease of doing business in India 🤝 • Key Features of VSV 2024 • Applicable to disputes related to income tax, TDS/TCS defaults, and certain penalties 🧾 • Full waiver of interest and penalty if the taxpayer pays the full disputed tax amount before the specified deadline ✅

  3. Vivad se Vishwas (VSV) Scheme 2024 • Disputes involving only penalty, interest, or fee can be settled by paying 25% (before deadline) or 30% (after) of the amount 💰 • Immunity from prosecution for resolved cases 🛡️ • The declaration is to be filed in Form-1, and the payment must be made after the issuance of a certificate in Form-3 📝 • Eligibility • Any taxpayer who has a pending appeal, writ, SLP, or arbitration as on the cut-off date related to income tax matters can opt for this scheme 👥. • Benefits to Taxpayers • Quick dispute resolution and peace of mind ☮️ • No interest or penalty for most cases ❌ • Relief from prolonged litigation 🧑‍⚖️ • Better cash flow and clean records for businesses 📈

  4. Vivad se Vishwas (VSV) Scheme 2024 Recent Updates (2024) The scheme has been extended with new deadlines and broader coverage for disputed demands, allowing more taxpayers to benefit from the one-time settlement window ⏳. The government is encouraging use of this scheme as part of its drive for tax certainty and dispute minimization 🧮. Conclusion The VSV Scheme 2024 is an excellent opportunity for taxpayers to resolve long-standing disputes efficiently and cost-effectively 💼. It reflects the government's intent to build trust, reduce litigation, and promote voluntary compliance 🌐. For more information or expert assistance in filing under the VSV scheme, here are list of some of the best firms in India that can guide you through the process: • Dewan P.N. Chopra & Co • Desai Hari Bhakt & Company • SN Dhawan & Company • Nangia Advisors

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