Direct Taxes Code would be implemented on April one, 2012

Union Minister of State for Finance S S Palanimanickam today said the Direct Taxes Code would be implemented on April one, 2012. “It will be implemented on April 1, 2012. There is no change in that…”, he told reporters. In August, the Government delayed the implementation of the DTC to next fiscal. The Direct Taxes Code Bill was supposed to be implemented by April one, 2011.

Stating that the Bill was currently discussed at various levels, he said, “Parliamentary standing committee” would give its report and the Government would take a decision on the implementation.

Earlier, while participating at a seminar on “Direct Taxes Code, Capital Gains, Non-Profit Organisation, Survey, Search and Seizure”, organised by All India Tax Payers’ Association and Periyar Maniammai University, he appealed to the participants to express their issues or suggestions on any modifications on the DTC.