Both the Schemes are expected to come into force on the 1st of June, 2016 after the Finance Act 2016 receives the Presidential assent
The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Bill 2016 and The Direct Tax Dispute Resolution Scheme 2016 incorporated as are expected to come into force on the 1st of June, 2016 after the Finance Act 2016 receives the Presidential assent.
The complete text of the two Schemes is available on the website of the Ministry of Finance as part of the Finance Bill 2016. The stake holders and general public are requested to bring-out issues/points which in their opinion would require further clarification/guidance. These issues/points may be submitted by 25th May, 2016 at the email address email@example.com or by post at the following address:
Commissioner of Income Tax, Media & Technical Policy, Official Spokesperson,Central Board of Direct Taxes, Room No.151, North Block, New Delhi-110001.
The envelopes should be marked with “The Income Declaration Scheme 2016” or “The Direct Tax Dispute Resolution Scheme 2016”.