Income tax department set as a deadline for outstanding declaration of tax outstanding on April 30 – CNBC TV18

Income tax department set as a deadline for outstanding declaration of tax outstanding on April 30 – CNBC TV18

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The Central Board of Direct Tax (CBDT) has announced April 30, 2025, as a time limit to register announcements under the Vishwa Plan, 2024 from direct tax dispute.

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Taxpayers should submit their announcements to the designated authority by this date to settle the outstanding outstanders.

The notification was issued on 8 April 2025, and the official Gazette is available on the portal.

The Income Tax Department shared the update on the social media platform X, which confirms the deadline.

The scheme, also known as VSV 2.0, came into force on 1 October 2024. It aims to reduce litigation by allowing taxpayers to resolve pending disputes by 22 July 2024, including CIT (A), ITAT, High Courts and Supreme Courts before various appellate officials.

The announcements should be filed under Section 90 (No. 2) Act, 2024 of Finance.

CBDT stated that it launched VSV 2.0 based on the success of the 2020 edition, which helped clarify the pending appeals and brought it into significant revenue.

The new scheme focuses on accelerating the disposal of the appeal and reducing the burden on the appellate system.

first published: April 9, 2025 3:35 pm First

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