CBDT Issues Corrigendum to Vivad Se Vishwas Rules, Amends Schedules of Form 1
Notification No. 105/2024, dated 27-09-2024
The Central Board of Direct Taxes (CBDT), through Notification No. 104/2024 dated 20-09-2024, had previously issued the Direct Tax Vivad Se Vishwas Rules, 2024. These rules, introduced under the Finance (No. 2) Act, 2024, provide a framework for taxpayers to resolve pending tax disputes with the Income Tax Department. The provisions in the rules detailed methods for calculating disputed taxes in various circumstances. Forms 1 and 2 were also notified for this purpose.
Subsequently, the CBDT has now released a corrigendum to this notification (Notification No. 105/2024) making specific amendments to the schedules in Form 1. Key changes include:
a) Changes to Schedule V: This schedule applies if the Department’s appeal is pending before the Tribunal as of 22-07-2024. The phrase “OR to be filed” has been removed from Column A of Schedule V in Form 1.
b) Changes to Schedule XXIII: This schedule is relevant if the Department’s appeal or writ is pending before the High Court as of 22-07-2024. The phrase “or appeal to be filed” has been removed from Column A of Schedule XXIII in Form 1.
c) Changes to Schedules XII, XX, XXI, XXII, XXIII, XXIV, XXV, and XXVI: These schedules have undergone revisions concerning the computation of the amount payable under the Direct Tax Vivad Se Vishwas (DTVSV) scheme.
This corrigendum introduces clarity in the filing process under the Vivad Se Vishwas scheme and ensures consistent interpretation of disputed tax computations across various stages of appeal.
