Vivad Se Vishwas 2.0: Lesser settlement amounts for those who file declaration by Dec 31

The Income Tax Department has notified the Vivad Se Vishwas Scheme 2.0, offering reduced settlement amounts for taxpayers who declare by December 31, 2024. This scheme aims to resolve pending income tax disputes and will be effective from October 1, 2024. Four forms have been introduced for declarations and settlements.