This Tax Alert summarizes Circular No. 20/2024 dated 30 December 2024 (Circular) issued by the Central Board of Direct Taxes (CBDT) providing extension in due date for filing declaration under the Direct Tax Vivad Se Vishwas Scheme, 2024 (VSV 2) from 31 December 2024 to 31 January 2025. The Circular provides that any declaration filed on or before 31 January 2025 will not require payment of additional amount under VSV 2. Consequently, declarations filed on or after 1 February 2025 till sunset date (to be notified) will require settlement under VSV 2 with payment of additional amount
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