- Vivad Se Vishwas Scheme timeline has been extended till January 31.
- The Central Board of Direct Taxes (CBDT) has extended the Vivad Se Vishwas Scheme deadline to January 31, 2025.
- This scheme period was scheduled to end on 31st December 2024.
- After the extension, the taxpayers will get additional time to file their declarations and settle disputes at reduced tax rates.
- The Vivad Se Vishwas Scheme was announced by the Union Finance Minister Nirmala Sitharaman in the 2024 budget.
- From February 1, 2025, taxpayers applying for the scheme will need to pay extra charges as per the revised rate.
- This scheme was launched to help taxpayers to resolve disputes with the income tax department.
- It has enabled taxpayers to settle their outstanding tax liabilities by paying the disputed amount and a specified percentage.
