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Direct Tax Code

Latest Articles


New Income Tax Bill 2025: Streamlining India’s Tax System for Modern Times

Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...

February 12, 2025 6945 Views 0 comment Print

Direct Tax Code 2025: Key Changes and Timeline

Income Tax : Explore the timeline, objectives, and major changes in the Direct Tax Code 2025 compared to the Income Tax Act 1961....

January 1, 2025 12969 Views 1 comment Print

Direct Tax Code 2025: Challenges in Simplifying India’s Direct Tax Laws

Income Tax : India explores simplifying direct tax laws via a new code or amendments. Challenges include black money, inflation, manpower gaps,...

December 5, 2024 1488 Views 0 comment Print

Key Suggestions for Proposed Direct Tax Code 2025

Income Tax : Insights on the proposed Direct Tax Code 2025, focusing on exempt income, depreciation alignment, PAN issuance, and accounting bas...

November 29, 2024 2967 Views 0 comment Print

Suggestions for Simplification of the Income Tax Act

Income Tax : Proposals for simplifying the Income Tax Act: restoring deductions, lowering TCS, improving assessments, and introducing uniform t...

September 9, 2024 1431 Views 0 comment Print


Latest News


Time to submit suggestions on new Direct Tax Law extended by 3 months to June 15, 2018

Income Tax : Stakeholder engagement by the Task Force drafting the ​N​ew Direct Tax Law extended by a period of three months up to June 15,...

May 28, 2018 867 Views 0 comment Print

ICAI expresses concern on proposed definition of “Accountant” in DTC

Income Tax : Direct Taxes Code, 2013 has proposed to widen the scope of the definition Accountant” to include other professionals as well. It...

April 18, 2014 7778 Views 0 comment Print

CMA body Request for Suggestions on Direct Tax Code Bill, 2013

Income Tax : Ministry of Finance, Government of India has pronounced the DTC, 2013 along with DTC Bill, 2010 is placed on http://incometaxindia...

April 3, 2014 1252 Views 0 comment Print

DTC, 2013 Includes Cost Accountant in definition of Accountant – CMA President

CA, CS, CMA : I am happy to inform that after several persuasions for long years by the Institute, the name of Cost Accountant have been include...

April 3, 2014 4023 Views 0 comment Print

Govt. invites comment on Proposed Direct Taxes Code 2013 + Download DTC 2013

Income Tax : Revenues are of paramount importance. The best source of revenue is taxes and for that we need modern tax laws. I am disappointed ...

April 1, 2014 2808 Views 0 comment Print


Latest Notifications


Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 13, 2025 141510 Views 5 comments Print

Task Force to draft New Direct Tax law to submit report by 31.07.2019

Income Tax : Task Force for drafting a New Direct Tax Legislation- The term of the Task Force is extended by a period of two months i.e.. the T...

May 27, 2019 957 Views 0 comment Print

Extended time to Task Force for drafting New Direct Tax Legislation

Income Tax : The term of the Task Force for drafting New Direct Tax Legislation is extended by three months beyond the initial term of six mont...

May 22, 2018 774 Views 0 comment Print

Communication of Board”s instructions and notifications

Excise Duty : Circular No. 73/73/94-CX In the All India Conference of Collectors (Appeals) held recently at Bangalore on 6th and 7th October 19...

November 7, 1994 256 Views 0 comment Print


Post DTC and GST implementation tax collection expected to get double

July 13, 2010 648 Views 0 comment Print

Direct tax collections in the country are likely to double after the proposed Direct Tax Code (DTC) and the Goods and Service Tax (GST) regime come into effect, a top government official has said. “We are moving towards a scenario where I think there will be a substantial increase in collection of taxes when DTC and GST will be in place. GST will help us in direct tax collection,” Central Board of Direct Taxes (CBDT) Chairman S S N Moorthy said.

SEZ units and developers may come under MAT net under the DTC Regime

July 11, 2010 975 Views 0 comment Print

Although the revised draft Direct Taxes Code (DTC) has suggested the continuation of profit-linked incentives for existing SEZ units and developers, they are likely to come under the ambit of Minimum Alternate Tax (MAT). The revised draft of DTC has recommended the rate of MAT at 2 per cent of the value of gross assets as the final tax. The provision, if adopted, would negate the very objective of the SEZ policy, as the developers and units would then end up paying MAT, based on their book profits, which will be a final tax.

Suggestions of the ICAI on the Revised Discussion Paper on the Direct Taxes Code

July 9, 2010 681 Views 0 comment Print

A Revised Discussion Paper (RDP) on Direct Taxes Code (DTC) has been released by the CBDT on 15th June, 2010, taking into consideration the vital and critical issues raised by the various stakeholders on the DTC. It is extremely satisfying to note that six of the eleven significant issues identified in the RDP are as per the specific suggestions of the Direct Taxes Committee of the ICAI.

SEZ developers step up demand for continued Income-Tax exemptions, Seek Centre, States intervention

July 9, 2010 717 Views 0 comment Print

The likelihood of new units in Special Economic Zones losing Income-Tax exemptions in the Direct Taxes Code regime has stepped up representations to the Centre. According to the DTC revised draft, units coming up in SEZs after the implementation of the Code from April 1, 2011, would not get I-T holiday.

SEZs unlikely to get tax sops under Direct Tax Code

July 5, 2010 402 Views 0 comment Print

The Finance Ministry indicated that the revised Direct Taxes Code draft may stick to denying tax sops to special economic zones (SEZs), even as Commerce Minister Anand Sharma assured that the interests of investors will be protected.

Focus on Foreign Institutional Investors (FII’s): Revised Direct Tax Code

July 4, 2010 453 Views 0 comment Print

The draft Direct Taxes Code (DTC) along with a Discussion Paper was released on 12 August 2009 for public comments with the intention to simplify direct tax legislation in India. Subsequently, comments were solicited from the public and examined by the Government. A Revised Discussion Paper which is meant to respond to the major concerns and comments of stakeholders has now been released on 15 June 2010.

Capital Gain Taxation under DTC Regime

July 3, 2010 2097 Views 0 comment Print

Long-term capital gains :-If shares are held by the tax payer for more than 12 months, then gains arising from their sale/transfer are treated as long term capital gains. If the period of holding is lower, then such gain is treated as short term capital gains.

Comparison of Revised Discussion Paper on Direct Taxes Code with Proposals in Direct Taxes Code

June 29, 2010 591 Views 0 comment Print

Revised Discussion Paper on the Direct Taxes Code: The draft Direct Taxes Code (DTC) along with a Discussion Paper was released in August 2009 for public comments. Based on the Feedback, the Revised Discussion Paper has now been released for public comments, before Finalizing the Bill for introduction in Parliament.

Taxation of Non Profit Organisations- Chapter VI under the Revised Direct Tax Code

June 29, 2010 20618 Views 4 comments Print

The revised proposal differentiates between religious, mixed and wholly charitable institutions. The term “religious” is not defined in the code. It is suggested that the term “religious” be defined in the code itself for the purposes of the DTC.

Quick review by government needed in respect of Income Tax Concession to SEZ

June 28, 2010 438 Views 0 comment Print

The special economic zone (SEZ) scheme seems to be in trouble. The revised draft of the Direct Taxes Code does not envisage continuation of the income-tax concessions for units that may be set up after the end of the current financial year.

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