Vivad Se Vishwas 2.0 deadline ends today: Last call to settle income tax disputes
The deadline to resolve pending income tax appeals under Vivad Se Vishwas 2.0 closes today, April 30, 2025. This government-backed initiative, which started on October 1, 2024, allows for hassle-free resolution without interest or penalties.WHAT IS VIVAD SE VISHWAS 2.0?Vivad Se Vishwas 2.0 is a dispute resolution scheme run by the Income Tax Department. It gives taxpayers a chance to settle ongoing tax-related cases by avoiding the prolonged litigation process and simply paying the disputed tax amount.advertisementThis is the second version of the Vivad Se Vishwas scheme. The first one, launched in 2020, helped solve several tax disputes across the nation. The government is hoping this iteration will do the same, cutting down the number of court cases and assisting in resolving pending cases sooner.WHO CAN APPLY?
You can apply for the scheme if you or the Income Tax Department have filed an appeal, writ petition, or Special Leave Petition (SLP) that was still pending as of July 22, 2024.You can also apply if you have submitted objections before the Dispute Resolution Panel (DRP) under Section 144C of the Income Tax Act.In addition, you are eligible to participate in this scheme if you file your declaration under Section 90 of the Finance (No. 2) Act, 2024.WHY IS IT IMPORTANT?advertisementThis scheme covers income tax disputes that were stuck at different stages, such as those pending with the Commissioner of Income Tax (Appeals), Income Tax Appellate Tribunal (ITAT), High Courts, and even the Supreme Court.The goal of this scheme is to reduce the burden on the courts and make it easier for taxpayers to close old tax matters. By offering relief on penalties and interest, the government is encouraging taxpayers to settle dues speedily. It also assists the government in earning revenue without engaging in lengthy court battles.
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