Mumbai: The Direct Taxes Code (DTC) Bill, which aims to overhaul the over 50-year-old I-T Act, is almost ready and will be taken up in the Monsoon session of Parliament, Finance Minister P Chidambaram said on Friday. "I am just writing the Direct Taxes Code. We will introduce it in the Monsoon session. We have another week's work on that," he said.
The Finance Minister was in Mumbai to attend the Silver Jubilee celebrations of market regulator SEBI.
The DTC Bill was introduced in Parliament in 2010 and was referred to the Standing Committee on Finance headed by senior BJP leader Yashwant Sinha.
Among other things, the Committee had suggested raising the income tax exemption limit to Rs 3 lakh as against Rs 2 lakh proposed in the original DTC Bill. On corporate tax, it recommended that the rate be retained at 30 per cent....
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08:38 PM, May 24, 2013
The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance, which had ...
05:24 PM, Jan 31, 2013
New Delhi: Union Finance Minister P Chidambaram on Tuesday said that the Direct Taxes Code (DTC), initiated by him during his earlier tenure, needed a fresh look. After a meeting with top officials of Central Board of Excise and Customs (CBEC), he also said the tax department has to be firm with tax evaders for whom non-compliance is a business. "DTC has gone through various versions...I need time to look...
08:26 PM, Aug 28, 2012
New Delhi: Ahead of the Budget, a key Parliamentary panel scrutinising the Direct Taxes Code (DTC) is likely to recommend raising of income tax exemption limit to Rs 3 lakh and tax breaks on investments to Rs 2.5 lakh. "There is a consensus among the members that annual tax exemption limit be raised to Rs 3 lakh," sources said after the meeting of the Parliamentary Standing Committee on Finance chaired...
04:56 PM, Feb 24, 2012
New Delhi: Finance Minister Pranab Mukherjee will start pre-Budget consultations with various stakeholders from Wednesday. The first meeting is with agriculturalists. It will be followed by a series of interactions with sectoral experts, industry captains and economists over the next three weeks to get their feedback and inputs for considering incorporation in Budget 2012-13. Mukherjee is slated to meet trade union leaders on January 16. Social sector related groups will...
02:24 AM, Jan 11, 2012
New Delhi: Finance Minister Pranab Mukherjee will start pre-Budget consultations with various stakeholders from Wednesday. The first meeting is with agriculturalists. It will be followed by a series of interactions with sectoral experts, industry captains and economists over the next three weeks to get their feedback and inputs for considering incorporation in Budget 2012-13. Mukherjee is slated to meet trade union leaders on January 16. Social sector related groups will...
09:43 PM, Jan 10, 2012
A new bill on tax reforms was expected in the budget session of Parliament. ...
11:34 AM, Feb 12, 2010
Direct Taxes Code Bill will be introduced in the Lok Sabha soon. ...
03:56 PM, Jul 06, 2009
