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.
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.
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.
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.
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