The 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
THANKS FOR UPDATION.
Whether any official announcement is made by govt on deferrment of DTC by 1 yr? If so where is that announcement?
| Originally posted by : RAMESH KUMAR VERMA | ||
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THANKS FOR UPDATION. |
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Thanks for the Bad News..............
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.
It means DTC will be Applicable for F.Y. 2012-13 and Assessment Year 2013-14
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
CAclubindia
