Direct Tax Dispute Resolution Scheme- 2016 Extended up to 31st Jan, 2017

In order to reduce the pending litigation, the Direct Tax Dispute Resolution Scheme, 2016 (the Scheme) was introduced by the Finance Act, 2016. The Scheme came into force from 1st June, 2016 vide notification S.O. 1902(E) dated 26th May, 2016. The scheme was to close on 31st December, 2016.

However, in view of the representations received from various stakeholders and for the convenience of the taxpayers, the last date for availing the Scheme has been extended up to 31st January, 2017 vide S.O. 4222(E) dated 29th December, 2016.

The full text of the notification is as follows :-

MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 124/2016
New Delhi, the 29th December, 2016

S.O. 4222(E).—In exercise of the powers conferred by section 202 of the Finance Act, 2016 (28 of 2016), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue), number S.O. 1902(E) dated the 26th May, 2016, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) dated the 26th May, 2016, namely:‑

2. In the said notification, for the figures, letters and words “31st day of December, 2016″, the figures, letters and words “31st day of January, 2017″ shall be substituted.

[Notification No. 124/2016/F. No. 142/11/2016-TPL]

Dr. T. S. MAPWAL, Under Secy.

Note: Principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 26th May, 2016 vide notification under S.O. 1902(E) dated the 26th May, 2016.

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