Central Board of Direct Taxes has issued Notification No. 4 of 2024 for the procedure for making declaration and furnishing undertaking in Form-1 under The Direct Tax Vivad Se Vishwas Rules (The Rules), 2024.
Key highlights of the Notification are as follows:
- Declarant filing declaration under The Rules, 2024 are required to file the declaration and undertaking in Form-1, online on the e-Filing portal of the Department: https://www.incometax.gov.in.
- Form -1 to be furnished electronically under digital signature, if the return of income is required to be furnished under digital signature or, in other cases through Electronic Verification Code (EVC).
- Procedure for preparation and submission is mentioned below:
- Form-1 shall be available for data entry and preparation online to the declarant after login.
- The declarant is required to login into the e-Filing portal of the Department: https://www.incometax.gov.in using their valid Login credentials.
- A link for filing the Form-1 has been provided under the e-Filing Portal: https://www.incometax.gov.in -> Login -> e-File -> Income Tax Forms -> File Income Tax Forms -> Select “Persons not dependent on any source of Income (Source of Income not relevant)” -> Vivad Se Vishwas Scheme, 2024 (Form 1 DTVSV 2024).
- Select Form-1 and Assessment Year (or Financial Year as applicable for Tax Deduction/Collection at Source related cases) and filing type (original/revised) from the drop[1]down Menu.
- Form – 1 contains specific schedules and the declarants are required to fill the relevant schedules and tables under the schedules with validations for proper submission of the declaration.
- The Form can be submitted by clicking on “Submit” button.
- Digital Signature Certificate or Electronic Verification Code is mandatory to submit the Form.
- Acknowledgement number for submission of declaration shall be generated electronically.
- The submitted Form would be available for view and download by going to https://www.incometax.gov.in -> Login -> e-File -> Income Tax Forms -> View Filed Forms -> Select the applicable option.
The above procedure is applicable on an immediate basis.
Source: Central Board of Direct Taxes (CBDT)
