CBDT has issued the procedure for filing declarations under the Direct Tax Vivad Se Vishwas Scheme, 2024. Taxpayers must submit Form-1 online on the e-Filing portal

The Central Board of Direct Tax ( CBDT ), through its Directorate of Income Tax (Systems) in Bengaluru, has issued a new notification outlining the procedures for taxpayers to declare and furnish an undertaking under the Direct Tax Vivad Se Vishwas Scheme ( DTVSVS ) 2024. The notification, DGIT(S)/e-Filing Notification/Form 1/DTVSVS/2024, was released on September 30, 2024, detailing the steps for filing Form-1 online on the Income Tax Department’s e-Filing portal. The Future of Tax and Finance: Upskill with Us, Click here As per the notification, taxpayers who wish to resolve their pending tax disputes under this scheme must submit Form-1 electronically, as mandated under Rule 4 of the Direct Tax Vivad Se Vishwas Rules, 2024. This process is essential for availing the benefits of the scheme, which aims to settle tax disputes between the government and taxpayers. All declarants must submit their declaration and undertaking through the e-Filing portal. The declaration is to be filed in accordance with Section 91(4) of the Direct Tax Vivad Se Vishwas Scheme, 2024. The submission of Form-1 is to be done via digital signature or through an electronic verification code (EVC), in line with Section 140 of the Income Tax Act, 1961. After logging into the e-Filing portal, declarants can fill out the necessary schedules and tables in Form-1. Upon completing the form, it must be submitted using the provided “Submit” button, followed by authentication through either digital signature or EVC. Once the form is successfully submitted, an acknowledgment number will be generated electronically. The procedure is designed to simplify and expedite the settlement of direct tax disputes. The notification also clarifies that submission through the prescribed online process will be considered equivalent to submission to the designated authority under Section 89 of the Direct Tax Vivad Se Vishwas Scheme. The Future of Tax and Finance: Upskill with Us, Click here The notification is effective immediately and has been circulated to all relevant authorities and stakeholders for prompt implementation.