Will Wealth Tax be a penalty for those who invest?

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BALASUBRAMANYA B N

CCI STUDENT....

21935 Points Posted on 18 August 2009

Will Wealth Tax be a penalty for those who invest?

18 Aug 2009, 0001 hrs IST,

The Direct Tax Code Bill, 2009 will easily be one of the biggest tax reform measures in modern India. Yet, some hangovers from the past remain, and the provisions related to wealth tax stand out as one. The new code unfortunately, seems to persist with this now redundant concept.

Replies (3)

BALASUBRAMANYA B N

CCI STUDENT....

21935 Points Posted on 18 August 2009

New Tax Code: Early enactment a challenge

It will be a test of perseverance and political will to ensure the early enactment of the new tax code and prevent any serious dilution.

BALASUBRAMANYA B N

CCI STUDENT....

21935 Points Posted on 18 August 2009

Though the tax rates largely remain the same, the income slabs have been significantly increased to take into account realistic income levels.

BALASUBRAMANYA B N

CCI STUDENT....

21935 Points Posted on 18 August 2009

Govt looks to implement new I-T law from 2011

Govt unveiled draft of a brand new direct tax law, which will replace the four-decade Income-Tax Act, "... to improve the efficiency and equity of our tax system by eliminating distortions in the tax structure, introducing moderate levels of taxation and expanding the tax base", said FM.