The Income Declaration Scheme, 2016 and the Direct Tax Dispute Resolution Scheme, 2016 are very important initiatives of the Government. These have created unprecedented interest amongst the taxpayers and tax professionals. However, several stake holders have complained that the numerous clarifications and press releases issued by the CBDT as well as the expert opinions and other resources are scattered at various places and that this is hindering effective compliance of both schemes. To aid our fellow professionals and tax payers, AIFTP has prepared a Guide in which all the resources are arranged in a systematic manner.
In addition to the statutory resources, the Guide also has articles from eminent professionals like Dr. K. Shivram, Sr. Advocate, CA PN Shah, CA Chetan Karia and CA Arti Shah who have provided valuable perspective into the nuances of the both schemes.
It may also be noted that itatonline.org and AIFTP has also arranged for a panel of eminent experts comprising of leading Advocates and Chartered Accountants to answer queries from taxpayers and professionals relating to both schemes. The questions asked to, and answers given by, the expert panel are included in the Guide. If you have any further questions, feel free to ask them.
Can I avail benefit of Direct Tax Dispute Resolution Scheme if I have already paid the demand but appeal pending with CIT on 29/2/2016