Direct Taxes Code

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  What Is Direct Tax Code And How It Is Different From Income Tax Act, 1961

  A set of new tax laws called the Direct Tax Code is likely to simplify compliance for taxpayers soon.

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  Is There New, 'Simpler' Income Tax Act In Budget 2025? What Sources Said

  The Direct Tax Code - a new income tax bill meant to simplify compliance for individual taxpayers - will be introduced separately, and not as part of the Union Budget to be delivered by Finance Minister Nirmala Sitharaman on Saturday morning.

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  Rules Amended To Ease Verification Of Records Submitted In Faceless Tax Assessment

  Central Board of Direct Taxes has said that rules have been eased to ensure that document verification of faceless assessees is done electronically.

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  Will Your Income Tax Change? New Report Given To Finance Ministry

  A Direct Tax Code task force constituted by the government has proposed a new taxation system that will bring about dramatic changes to the age-old Income Tax Act-1961, providing concessions to tax-payers and enhancing their spending power amid an alarming economic slump.

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  Cut Corporate Tax For All To 25% From 30%, Says Centre's Panel: Report

  Government imposes a 30 per cent corporate tax rate on domestic companies and 40 per cent on foreign firms.

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  Government-Appointed Task Force On Direct Tax Code Submits Report

  The task force was assigned to draft direct tax laws in line with the norms prevalent in other countries, incorporating international best practices, and keeping in mind the economic needs of the country.

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  Direct Tax Collection Increases. 99.54% Returns Accepted Without Any Scrutiny, Says Piyush Goyal

  Presenting the interim Budget for 2019-20 in the Lok Sabha, Finance Minister Goyal said that nearly 99.54 per cent returns have been accepted without any scrutiny.

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  Hike in Revenue Base, Investment Key for Fiscal Balance: India Ratings

  Budget should focus on reviving the dormant investment cycle and raising the revenue base as the present macroeconomic stability is primarily driven by collapse of global commodities prices led by oil, India Ratings said.

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  Burdened by Income Tax? Former Finance Minister Has a Plan

  Individuals earning as little as Rs 21,000 per month have to pay taxes, according to current income tax rules. Unsurprisingly, there's a consensus among tax experts that the government should increase exemption limits on several kinds of allowances to reduce the income tax burden on middle class.

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  Obstructionism Can Create Only Sadistic Thrill, Says Finance Minister Arun Jaitley

  Asserting that economic progress cannot be a partisan issue, government tonight sought cooperation of the opposition to ensure that India achieves double-digit growth as it (rpt) it contended that "obstructionism" could only provide temporary "sadistic thrill".

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  Arun Jaitley Says Decision to Cut Corporate Tax 'Inspired' by UPA

  Finance Minister Arun Jaitley on Tuesday said his decision to lower corporate tax rate from 30 per cent to 25 per cent was inspired by the Direct Tax Code (DTC) bill brought by the previous UPA government.

• Government Drops DTC, Sees No Merit in Going Ahead With New Law

  The DTC was first mooted in 2008 to overhaul the five-decade-old Income Tax Act to facilitate voluntary tax compliance and reducing litigations.

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  Government to Introduce GST Bill in Current Parliament Session: Jaitley

  He also said the Direct Taxes Code (DTC) was under the consideration of the government but did not say when it would be brought to Parliament.

• Budget 2014: Government to Review Direct Taxes Code Bill in its Present Form, Says Jaitley

  Finance Minister Arun Jaitley on Thursday said the government will review the ambitious Direct Taxes Code (DTC), which proposed overhaul of the six-decade old Income Tax Act, in its present shape and take a view on the whole matter.

• 'Bad Taxes' Like Cess, Surcharge Need to Go: Economic Survey

  India's complex taxation system needs a revamp through new laws - Good and Services Tax (GST) and Direct Taxes Code (DTC) - as "bad taxes" like surcharges, cess and dividend distribution levy need to "eventually go" so as to boost investments as well as GDP growth, according to a government document.