DTC has been cleared by the cabinet
effective date april 1 , 2012
Saurabh Malpani (CA Final) (514 Points)
07 January 2012DTC has been cleared by the cabinet
effective date april 1 , 2012
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 07 January 2012
The new provisions under the Direct Tax Code are as follows:
• Tax for income between Rs. 2 lakh – Rs. 5 lakh: 10%
• Tax for income between Rs. 5 lakh – Rs. 10 lakh: 20%
• Tax for income over Rs. 10 lakh: 30%
Corporate tax has been kept at 30%.
The limit for exemptions for salaried people is Rs. 2 lakh, while that for senior citizens is Rs. 2.5 lakh.
CA Rajendra Kumar Pathak
(Chartered Accountant)
(33 Points)
Replied 08 January 2012
Thanks Mr.Sanket
Saurabh Malpani
(CA Final)
(514 Points)
Replied 09 January 2012
will post the link as soon as possible
CAclubindia
