Government of India
                             Ministry of Finance
                          Department of Revenue
                       Central Board of Direct Taxes


                               PRESS RELEASE

                                                           New Delhi, 31st May, 2016



Sub: The Direct Tax Dispute Resolution Scheme 2016 & Equalisation Levy to
come into effect from 1st June 2016.

        The Direct Tax Dispute Resolution Scheme, 2016 incorporated as Chapter X
of the Finance Act, 2016, shall come into force on the 1st of June, 2016 and
Declarations under this Scheme may be made on or before the 31st December, 2016 in
respect of tax arrears & specified tax. The relevant rules and forms in this regard have
been notified vide notification no. 34 & 35 dated 26th May, 2016.




        The provisions relating to imposition and collection of Equalisation Levy
incorporated as Chapter VIII of the Finance Act, 2016 comes into force from the 1st
of June, 2016The notification also provides for date of effectivity of equalisation levy,
the statement of specified services, notice of demand and the relevant forms. . The
relevant rules and forms in this regard have been notified vide Notification No.37 &
38 dated 27th May, 2016.




        These   notifications are      available    on    the    departmental    website
http://www.incometaxindia.gov.in .



                                                               (Meenakshi J Goswami)
                                                         Commissioner of Income Tax
                                                         (Media and Technical Policy)
                                                         Official Spokesperson, CBDT