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of <h1>Finance Bill 2016 Introduces Direct Tax Dispute Resolution Scheme: Immunity from Prosecution, No Refunds, Specific Exclusions</h1> Clauses 197 to 208 of the Finance Bill, 2016 introduce Chapter X, establishing the Direct Tax Dispute Resolution Scheme, 2016, effective from June 1, 2016. This scheme defines key terms such as 'declarant' and 'disputed tax,' and outlines the process for declaring tax payable, including the necessary particulars, payment methods, and timelines. It grants immunity from prosecution and penalties in specific cases but prohibits refunds. The scheme does not apply to certain cases and excludes additional benefits in other proceedings. The Central Government is empowered to issue directions and resolve implementation difficulties.
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