CBDT Order on Delayed Tax Payments Under DTVsV Act: Key Dates and Manual Processing

editor — Sat, 29 Jun 2024 04:54:48 +0000

The Central Board of Direct Taxes (CBDT) issued an Order via F.No.173/03/2021-ITA-I(Pt.2) dated June 27, 2024, under section 10 of the Direct Tax Vivad se Vishwas Act, 2020 (‘DTVsV Act’).

CBDT and field authorities have received representations and applications requesting acceptance of delayed tax payments specified in Form-3 of the Direct Tax Vivad se Vishwas Rules, 2020 (‘DTVsV Rules’), within the due date specified in the DTVsV Act.

After examining the matter, the Board has decided to address the difficulties faced by taxpayers and facilitate revenue collection. Exercising powers under Section 10(2) of the DTVsV Act, the CBDT directs that delayed payment of requisite taxes may be accepted under the DTVsV Act if the following conditions are met:

(a) The assessee has made full payment of taxes (including the amount payable after the due date as prescribed in Form-3 of the DTVsV Rules) on or before February 28, 2022, under the DTVsV Act, and
(b) The appeals mentioned in Form-1 of the DTVsV Rules have either been withdrawn or not decided as of the date of full payment of taxes (including the amount payable after the due date as prescribed in Form-3 of the DTVsV Rules).

The concerned Principal Commissioner of Income Tax (PCIT) shall issue a modified Form-3 manually if needed, allow the assessee to file Form-4 manually, and thereafter issue Form-5 manually after examining the conditions as per the DTVsV Act. The entire process should be completed by September 30, 2024.

For further details, the full order can be accessed here.

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CBDT Order on Delayed Tax Payments Under DTVsV Act: Key Dates and Manual Processing

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