Direct tax code
This query is : Resolved
12 July 2009
Dear Sir,
What is meant by Direct tax code, please explain?
What is meant by Direct tax code, please explain?
12 July 2009
The Finance Minister has mentioned about Direct tax Code in paragraph 82 of Part B of his budget speech which is reproduced below.
In the course of preparation of this budget, I have had a opportunity to interact with large number of stakeholders and receive valuable inputs. Most suggestions were for structural changes in the tax system.Tax reform,like all reforms, is a process and not an event. Therefore,I propose to pursue structural changes in direct taxes by releasing the new Direct Tax Code within the next 45 days and in indirect taxes by accelerating the process for the smooth introduction of the GST w.e.f 01/4/2010.
Therefore inference is,it is a draft containing structural changes in the Income tax Act,1961 to be circulated among the general public for opinion,before finalization,within the period mentioned herein above vide paragraph 83 of FM's speech.
In the course of preparation of this budget, I have had a opportunity to interact with large number of stakeholders and receive valuable inputs. Most suggestions were for structural changes in the tax system.Tax reform,like all reforms, is a process and not an event. Therefore,I propose to pursue structural changes in direct taxes by releasing the new Direct Tax Code within the next 45 days and in indirect taxes by accelerating the process for the smooth introduction of the GST w.e.f 01/4/2010.
Therefore inference is,it is a draft containing structural changes in the Income tax Act,1961 to be circulated among the general public for opinion,before finalization,within the period mentioned herein above vide paragraph 83 of FM's speech.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
