You are here: Home » Archives for Direct Tax Code

Posts tagged as:

Direct Tax Code

Direct Tax Code : Tax on Saving Withdrawals : EEE would be EET.

December 13, 2009

In our current tax law structure, the Exempt-Exempt-Exempt (EEE) is active. On the introduction of Direct Tax code (DTC), the Exempt-Exempt-Tax (EET) will be active. In simple words, you can say that any amount withdrawal of income from saving instrument will be taxable after the commencement of the Direct Tax Code (DTC) would be governed [...]

Read the full article →

New Tax Code : 10% Tax upto Rs. 10 Lakh Income

August 15, 2009

A major relief to tax payer when the government on Wednesday introduced a new direct tax code that seeks to simplify the tax regime in India replacing the Income Tax Act 1961.
According to new tax code / new direct tax code 10% tax up to Rs. 10 Lakh Income.
See new income tax slab under new [...]

Read the full article →

New Income Tax Slab under New Direct Tax Code 2009

August 14, 2009

Finance Minister on Wednesday commenced essential tax reforms through a draft code that intends at toning down income tax rates.
So I am giving New Income Tax slab under New Direct Tax code 2009. However, it is proposed right now, and if it gets approval it will be applicable to A.Y. 2011-2012. Updates: (The DTC direct [...]

Read the full article →

Download Direct Tax Code Bill 2009

August 13, 2009

The Finance Minister on Wednesday unveiled the draft of a brand new direct tax code/law, which will replace the four-decade Income-Tax Act, “… to improve the efficiency and equity of our tax system by eliminating distortions in the tax structure, introducing moderate levels of taxation and expanding the tax base”, said finance minister Pranab Mukherjee.
The [...]

Read the full article →

Draft of Direct Tax Code Released by FM

August 12, 2009

Finance Minister, Shri Pranab Mukherjee said,
I propose to pursue structural changes in direct taxes by releasing the new Direct Taxes Code within the next 45 days and in indirect taxes by accelerating the process for the smooth introduction of the Goods and Services Tax (GST) with effect from 1st April, 2010. The Direct Taxes Code, [...]

Read the full article →

Simple Tax Regime, Simple Tax Structure, FBT & CTT abolished, Lawyers to pay Service Tax, Corporate Tax remain Unchanged

July 6, 2009

Simple Tax Regime, Simple Tax Structure, FBT & CTT abolished, Lawyers to pay Service Tax, Corporate Tax remain unchanged.
Encouraging to cut down poverty by 2014 and add 12 million jobs each year, Finance Minister Pranab Mukherjee presented India’s budget for this fiscal that hikes income tax exemption limit and moves up measures for welfare [...]

Read the full article →