United Progressive Alliance-II

Changes to the original draft of the direct taxes code will cost taxpayers

The changes to the original draft of the direct taxes code are going to cost taxpayers, with the government planning to significantly alter the slabs. While the slabs are yet to be reworked, officials indicated the highest one could be in the range of Rs 10-15 lakhs (Rs 1-1.5 million), instead of the Rs 25 lakhs (Rs 2.5 million) proposed when the first draft was released last August.
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