Aditya Maheshwari (CA in Practice) (35867 Points)
30 August 2010The Direct Tax Code Bill has been delayed by a year in Parliament on Monday. The Bill will come into effect from April 2012.
Source: https://business.rediff.com/report/2010/aug/30/direct-tax-code-bill-deferred-by-a-year.htm
Omprakash Jain
(CA)
(280 Points)
Replied 30 August 2010
Whether any official announcement is made by govt on deferrment of DTC by 1 yr? If so where is that announcement?
CA Trinath Galla
(student)
(3130 Points)
Replied 30 August 2010
| Originally posted by : RAMESH KUMAR VERMA | ||
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THANKS FOR UPDATION. |
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BALASUBRAMANYA B N
(CCI STUDENT....)
(44668 Points)
Replied 31 August 2010
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114215 Points)
Replied 31 August 2010
Thanks for the Bad News..............
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 31 August 2010
DTC is not so much of a change that it can become bad news for being delayed and the tax benefits are not so much.
Individuals earning above Rs. 10 lakhs will save tax upto Rs. 24,000/- for the year but dont forget there has been a lot of reductions in the exemptions and deductions also.
So it a mixed bag code. Good somewhere and not so good also in some places.
Satya N Naredi
(Chartered Accountant)
(148 Points)
Replied 31 August 2010
It means DTC will be Applicable for F.Y. 2012-13 and Assessment Year 2013-14
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 01 September 2010
Yes it would be effective from F. Y. 2012 - 13 and the assessment year concept will be removed as the same is not present in the bill
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