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Direct tax code

Direct Tax Code set to replace existing Income Tax Act of 1961, Task Force to submit report today

In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government in November, 2017.

Aug 19, 2019, 13:30 PM IST

Experts' hope high from direct tax code

The Modi government in its previous term had set up an Expert Committee in 2017 to draft a new Direct Tax Code (DTC) to replace the decades-old Income Tax Act, 1961.

Aug 19, 2019, 12:28 PM IST

Arun Jaitley hits out at Chidambaram, says economy was in hands of a ‘terrible doctor’ under UPA govt

He said that the country was named in the fragile five economies in the world when P Chidambaram was the finance minister.

Feb 09, 2018, 22:43 PM IST

Decoding the direct tax law –Several lessons learnt from GST

In an interview to Zee Media Digital, Chetan Chandak, Head of Tax research, H&R Block India shares his view on Direct Taxes, its impact and implications of overhauling it.

Dec 05, 2017, 14:05 PM IST

Jurisdiction-free I-T assessment on the cards

The tax department is working on a major reform initiative to make compliance taxpayer friendly and a 13- member committee of tax officers has been formed to look into implementation issues, the official said.

Sep 17, 2017, 15:44 PM IST

GST will transform India's fiscal architecture: Jayant Sinha

The GST roll out will prove to be a revolutionary step and has potential to transform the "fiscal architecture" of the government, Minister of State for Finance Jayant Sinha said today.

Mar 05, 2015, 17:26 PM IST

Govt optimistic about GST roll out from April 2016: Rev Secy

The government is confident of rolling out the much-awaited Goods and Services Tax (GST), which aims at creating a single tax for goods and services across the country, from April 1, 2016, a top finance ministry official said.

Mar 05, 2015, 16:17 PM IST

Assocham suggests a slew of measures to boost economy

Industry body Assocham Thursday suggested that the government raise investment in agriculture, cut back on subsidies, aggressively disinvest and roll out tax reforms like DTC and GST to revive economic growth.

Sep 05, 2013, 21:24 PM IST

Process to roll out Direct Tax Code on: Parthasarathi Shome

The process to roll out the Direct Tax Code is "on" and the government has now prepared a draft with comments made by industry and it is being examined by various Ministries, Parthasarathi Shome, Adviser to Finance Minister, said Friday.

Aug 30, 2013, 18:11 PM IST

FinMin asked to ensure NMIZ units enjoy tax sops post-DTC

Seeking to give a push to the manufacturing sector, Commerce and Industry Ministry on Tuesday asked its finance counterpart to incorporate provisions concerning exemption to units in NMIZs from capital gains tax in the Direct Tax Code (DTC) Bill.

Jul 23, 2013, 19:46 PM IST

DTC bill to be introduced in Budget session: FM

Finance Minister P Chidambaram Friday said the government wants to introduce the Direct Tax Code (DTC) bill in the Budget session of Parliament.

Mar 09, 2013, 22:48 PM IST

Direct tax code needs to go back to drawing board: Shome

Hinting that the central government would not be able to introduce the direct tax code (DTC) by April 2013, Parthasarathi Shome, who heads the high-powered committee on GAAR, said it needs to go back to the drawing board as some changes are required.

Oct 11, 2012, 23:58 PM IST

Time for second stage of economic reforms: Praful Patel

Union Heavy Industries Minister Praful Patel has said the time is ripe for second stage of economic reforms such as the introduction of Direct Tax Code among other measures with an emphasis to tame inflation.

Oct 11, 2012, 14:57 PM IST

DTC Bill to be introduced in Monsoon Session: Pranab

The Direct Taxes Code (DTC) Bill, which seeks to overhaul the 50 year-old Income-tax laws, will be brought in Parliament in the monsoon session and most of the recommendations of the Standing Committee will be accepted.

May 15, 2012, 13:30 PM IST

Direct, indirect tax reforms to miss deadline: Mukherjee

Implementation of the Direct Tax Code (DTC), the proposed reforms in the direct tax system, will miss the deadline of April 1, 2012, Finance Minister Pranab Mukherjee said Friday.

Mar 16, 2012, 13:19 PM IST

Foreign bank deposits, paintings, watches may attract wealth tax under DTC

Deposits in foreign banks, paintings, sculptures and expensive watches may come under the wealth tax net as part of the government's drive to unearth black money.

Feb 21, 2012, 18:47 PM IST

DTC to come into force from next fiscal: Pranab

Finance Minister Pranab Mukherjee on Wednesday expressed the hope that the Direct Taxes Code (DTC), which seeks to modernise tax laws in the country, will come into force from April 1, 2012.

Dec 07, 2011, 11:05 AM IST

Decoding Direct Tax Code

With the government unveiling the new Direct Tax Code, we look at how the new tax provisions will affect your wallet.

Sep 02, 2010, 11:31 AM IST

`BPOs to be taxed under new government code`

Business Processing Outsourcing (BPO) centres in India would be subjected to taxation under the new proposed Direct Tax Code (DTC) but some clarifications, especially on double taxation, were still needed, an expert said.

Dec 06, 2009, 16:22 PM IST

Bills on GST, direct tax code likely in winter session

Several important economic Bills that will pave way for introduction of Goods and Services Tax, Direct Taxes Code and empower the Reserve Bank to supercede erring boards of private sector banks.

Nov 08, 2009, 13:49 PM IST