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of <h1>Direct Tax Dispute Resolution Scheme 2016: Waive Penalties for Cases Under Rs. 10 Lakh to Ease Tax Litigation.</h1> The Direct Tax Dispute Resolution Scheme, 2016, effective from June 1, 2016, to December 31, 2016, aims to reduce pending tax litigation. It applies to cases pending with the first appellate authority as of February 29, 2016, and those affected by retrospective amendments. For disputes involving taxes up to Rs. 10 lakh, the scheme offers a complete waiver of penalties and prosecution upon payment of assessed tax and interest. For amounts exceeding Rs. 10 lakh, only 25% of the minimum penalty is required, along with due tax and interest. Clarifications on the scheme's provisions have been issued via a circular with 14 FAQs.
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