DTC draft retains exemption limit; proposes 35% super-rich tax

The fresh draft of the DTC Bill, posted on the website of the Finance Ministry on Tuesday, has lowered the age for tax exemption for senior citizens to 60 years from 65 years.

FM meets Sushma, Jaitley on Insurance, DTC Bills

Keen to get key reforms bills passed, Finance Minister P Chidambaram has reached out to opposition BJP to get Parliament approval for the long-awaited Insurance Bill and Direct Taxes Code Bill in the Winter session that began Thursday.

FM regrets not being able to get legislations passed

"There are very significant differences but on essentials of building an open and liberal economy, I believe there is no great difference between two major political parties in India," Chidambaram said.

Reduce service tax up to 8%, Kelkar panel tells Govt

"The standard rate of 12 percent should be progressively reduced to align with the GST rate of 8 percent proposed for the Central GST," the report said.

Amcham asks for introduction of APA in budget 2012-13

Industry body American Chamber of Commerce in India (AMCHAM) has asked the government to introduce Advance Pricing Agreement (APA) mechanism to check transfer pricing disputes in the forthcoming budget in case of delay in implementation of Direct Taxes Code Bill (DTC).

Direct Taxes Code Bill likely in Winter Session: Finmin

The Direct Taxes Code Bill, which will replace the I-T Act 1961, is likely to be introduced during Winter Session, a Finance Ministry official said today.