Direct Tax Code

The New Pension Scheme (NPS) has so far not seen too many takers after the government opened the scheme to the public in 2009. However, the investment scenario will most likely change in favour of NPS once the proposals under the latest Direct Taxes Full Article

In Direct Tax Code, 2010 Senior Citizens are left with no practical avenues for making tax-saving investments. DTC (and most of us who have commented on it) assumes that income from work ends at retirement. However, this is not true for a significant number of seniors. Many still do part-time work or irregular work after their formal retirement, while a significant number have rent income. Full Article

The Finance Ministry today said safe harbour rules --- a set of norms that would enable the income tax (I-T) authorities to accept without scrutiny the tax returns by the Indian units of foreign companies -- would be soon put in place. "Safe harbour Full Article

The Direct Code Bill 2010 is in public domain now, after a long debate and discussion on the Draft DTC put on public domain in August 2009. The Chapter of INCOME TAX SETTLEMENT COMMISSION having no space in the Draft DTC and has been made part of Direct Taxes Bill 2010, therefore requires proper public debate and sufficient discussions as to the Chapter XVI of DTC Bill 2010. Full Article

The Cabinet approved Direct Tax Code (DTC) as tabled in Parliament on last day of August 2010 has many surprises and hidden shocks for individuals as well as corporate India. The key objective of DTC is to benefit small taxpayers as a result of rati Full Article

Corporates going in for debt restructuring may face rough weather on the income-tax front when the Direct Taxes Code (DTC) comes into play from April 1, 2012. This is because the DTC provides that loans waived by lenders will be treated as income in Full Article

The proposed Direct Taxed Code (DTC) is likely to adversely affect the exponential rise in exports from special economic zones (SEZs). Exports from SEZs rose 68 per cent during the April-June period to Rs 58,685.46 crore, compared to the correspondin Full Article

The Direct Tax Bill has proposed to introduce a new investment scheme to avail of tax exemption. In this scheme, an investor can invest up to Rs 50,000 in life insurance policies, health insurance and children's tuition fees. One can also invest up Full Article