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of <h1>Direct Tax Vivad Se Vishwas Scheme 2024: Excludes Cases Involving Tax Arrears from Searches, Foreign Income, and Criminal Prosecutions.</h1> The Direct Tax Vivad Se Vishwas Scheme, 2024, outlined in Clause 96 of the Finance (No. 2) Bill, 2024, excludes applicability in certain cases. These include tax arrears related to assessments from searches under specific sections of the Income-tax Act, undisclosed foreign income or assets, and assessments based on international information agreements. It also excludes individuals detained under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, those prosecuted under various criminal and financial misconduct laws, and individuals notified under the Special Court Act for securities transactions. The scheme includes provisions for definitions, payments, declarations, and procedural guidelines, with powers granted to the Central Government and the Central Board of Direct Taxes for implementation and rule-making.
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