Finance Ministry presents Draft DTC Bill for public opinion – The revised DTC Bill to be presented in the Parliament after elections. The Finance Ministry has rejected the recommendation of the Parliamentary Standing Committee headed by former Finance Minister Yashwant Sinha on raising the income tax exemption limit to Rs 3 lakh. The recommendation was made as […]
Direct Tax Code Bill that seeks to replace existing Income Tax Rules will be taken up by Cabinet
Once Direct Tax Code bill is passed in the Parliament, Income tax payers in the initial slabs viz., persons with the income of up to Rs. 3 lakhs and income from Rs.3 to 10 lakhs as Finance Minister Mr.P.Chidambaram has assured ia press conference conducted recently to the effect that Government would abide by the recommendations of Parliamentary Standing Committee on Direct Tax Code for the purpose of tax structure and personal income tax exemptions under Direct Tax Code.