Vivad Se Vishwas Scheme Deadline: Just a few days left! Penalty may be waived, check now..

To resolve income tax-related disputes, the government has announced the last date to apply under the Vivaad se Vishwas scheme. This scheme can be very beneficial for those people who are facing any income tax-related dispute. Under this scheme, interest and penalty will be waived on payment of the fixed tax amount.

Let us tell you, that the last date to apply under this scheme has been fixed as 30 April 2025. That is, you do not have much time left for this. Let us know some important things related to this scheme like who will benefit from this scheme and who will get the penalty and interest removed.

What is the Vivaad se Vishwas Scheme?

The objective of this scheme is to resolve tax disputes by consent. Suppose any disputed tax is due by the Income Tax Department on a taxpayer and it is pending in the court or other appellate authorities, then by applying under this scheme, he can get complete relief from payment of disputed tax amount and penalty, interest.

According to the Finance Ministry, if a person deposits more than the prescribed amount of tax and the fixed percentage rate on it, then the penalty and interest imposed on him will be completely waived off and the case will also be considered closed.

Benefit of penalty and interest waiver
If you, an eligible taxpayer, pay the prescribed amount of disputed tax on time under the scheme and submit the declaration related to it to the authority, then the Income Tax Department will waive your entire penalty and also end your pending interest. In this way, you will get relief from the long legal process and the tax dispute will also be resolved.

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