New Delhi, May 31 (KNN) 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 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, 2016, according to an official release.

The notification also provides for date of effectivity of equalisation levy, the statement of specified services, notice of demand and the relevant forms.

The notifications are available on the departmental website http://www.incometaxindia.gov.in. (With PIB Inputs)