Govt notified October 1 as the date for launching ‘Vivaad se Vishwas 2.0’ scheme

New Delhi, September 20 (Language) The government will launch the direct tax dispute resolution scheme ‘Vivaad se Vishwas 2.0’ from October 1.

The ‘Vivaad se Vishwas’ Scheme 2.0 was originally announced in Budget 2024-25 presented in July to resolve certain pending income tax disputes.

The Finance Ministry said in the notification, “The Central Government fixes the date for implementation of the Direct Tax Vivaad se Vishwas Scheme, 2024 as October 1, 2024.”

Disputes over 2.7 crore direct tax demands amounting to about Rs 35 lakh crore are ongoing at various legal forums.

Also Read: PF Withdrawal Rules: Now PF subscribers can withdraw even before six months, check details

Finance Minister Nirmala Sitharaman had said in her Budget speech that the government will continue its efforts to simplify taxes, improve taxpayer services, provide tax certainty and reduce litigation while increasing revenues.

The government had introduced the first phase of the ‘Vivaad se Vishwas’ scheme for cases under direct taxes in 2020. About one lakh taxpayers availed the scheme and the government got a tax of about Rs 75,000 crore.

Related Articles:-