The Vivad Se Vishwas 2.0 Scheme 2025 (VSV 2.0) aims to reduce repeated income tax disputes. By providing a transparent appeals process, it facilitates the resolution of these conflicts between the Income Tax Department and taxpayers. The Joint Commissioner of Income-tax (Appeals), the Income Tax Appellate Tribunal (ITAT) and higher courts are among the several venues where taxpayers can file an appeal. As of 22 July 2024, the program includes pending appeals, writ petitions and special leave requests.
It enables taxpayers to address their disputes without suffering fines or interest and cases settled under this plan will not be subject to judicial action. It also covers situations in which, in the absence of a final assessment ruling, challenges have been brought before the Dispute Resolution Panel (DRP).
Vivad Se Vishwas Scheme
The Vivad Se Vishwas 2.0 Scheme would go into effect, enabling taxpayers to settle outstanding tax issues on 1 October 2024. Following the successful initial plan from 2020 which Finance Minister Nirmala Sitharaman revealed in the most recent budget, this is the second iteration. There has been a rise in tax-related litigation, with more cases moving to appeal than being resolved. The revised program will encompass matters before the Dispute Resolution Panel, appeals and writ petitions that are still outstanding as of 22 July 2024.
There are now over 27 million outstanding direct tax requests in the courts, worth approximately Rs. 35 lakh crore. In light of the 10% tax rate increase that would take effect on 1 January 2025 Karishma R. Phatarphekar of Deloitte India emphasized the necessity for businesses to examine these outstanding instances. With around 1 lakh taxpayers taking part in the initial plan, the government made about Rs. 75,000 crore. The scheme is designed to make it easier for taxpayers to resolve their disagreements.
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Objective of Vivad Se Vishwas 2.0 Scheme
The main objective of this scheme is to simplify the process of resolving ongoing income tax disputes. In order to resolve their tax disputes, qualified taxpayers might pay a certain percentage of their outstanding debts.
Overview of Vivad Se Vishwas 2.0 Scheme
| Name of the scheme | Vivad Se Vishwas 2.0 Scheme |
| Launched by | Government of india |
| Launched date | 01 October 2024 |
| Department | Income Tax Department |
| Beneficiaries | Settlement is available to taxpayers with outstanding income tax issues. |
| Objective | To reduce the amount of ongoing tax litigation |
| Coverage | As of 22 July 2024, pending conflicts include objections, writ petitions and appeals. |
| State | All over India |
| Application mode | Online |
| Official website | Not announced yet |
Eligibility Criteria
- Income tax appeals or disputes must still be pending as of 22 July 2024.
- Relevant Discussion Boards:
- Supreme Court
- High Courts
- Income Tax Appellate Tribunal (ITAT)
- Commissioner/Joint Commissioner (Appeals)
- Cases pending before the DRP are included.
- Revision applications must be pending the Commissioner of Income Tax’s determinations.
- Both taxpayers and tax authorities involved in the disputes are eligible for the program.
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Benefits of Vivad Se Vishwas 2.0 Scheme
- The scheme reduces the number of continuing tax issues that end up in court.
- The scheme provides a quicker solution for tax disputes.
- Penalties and interest on resolved disputes are waived under the law.
- The scheme guarantees that instances settled under it won’t result in legal action.
- It covers issues before tax officials, writ petitions, and appeals.
- It encourages prompt settlement and compliance to tax regulations.
- The scheme lowers the legal fees related to protracted litigation.
- The scheme offers stability and clarity in tax-related topics.
Required Documents
- Passport size photograph
- Aadhar card
- PAN card
- Residence certificate
- Dispute details
- Appeal documents
- DRP objections
- Revision petitions
- Tax returns
- Payment receipts
- Mobile number
Important Dates
- Scheme Start Date: 1 October 2024
- Eligibility Cut-off Date: 22 July 2024 (for pending disputes)
- Deadline for Application Submission: To be announced
Application Process of Vivad Se Vishwas 2.0 Scheme 2025
The Vivad Se Vishwas Scheme 2024 will enable taxpayers to settle outstanding tax issues beginning on 1 October 2024. As of right now, the program is not yet completely operational, and no formal application procedure has been disclosed. The acceptance of applications online or offline is yet unknown. Interested taxpayers are urged to follow the application process through appropriate government channels to keep updated. Applicants will probably be able to apply online to get the advantages of the scheme once the official portal is up and running. As further details regarding the application procedure become available, they will be provided. Keep checking back for the most recent scheme revisions.
Contact Details
- Mobile number: 1800 180 1961 / 1800 103 1961
- Email: contact@incometax.gov.in
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FAQs
What is the Vivad Se Vishwas 2.0 Scheme?
It is a government scheme designed to reduce litigation and resolve persistent income tax issues.
Which kinds of disputes are covered?
The scheme handles objections, writ petitions and appeals that are still ongoing before several tax authorities.
Will there be implications for resolving conflicts?
Penalties and interest will be waived for cases settled under the scheme.