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of <h1>Direct Tax Dispute Resolution Scheme 2016: Immunity from Penalties under Income-tax and Wealth-tax Acts Explained in Clause 202.</h1> Clause 202 of the Direct Tax Dispute Resolution Scheme, 2016, as outlined in the Finance Bill, 2016, provides immunity from proceedings and penalties under the Income-tax Act and Wealth-tax Act. The designated authority can grant immunity or waive penalties and interest for specified taxes or tax arrears declared under section 199. The scheme, effective from June 1, 2016, includes definitions, declaration procedures, payment guidelines, and provisions on immunity, non-refund, and non-applicability in certain cases. It also outlines the Central Government's powers to issue directions and resolve difficulties in implementing the scheme.
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