| DIRECT TAXES CODE BILL, 2009 |
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The government has initiated tax reforms through a draft code "DIRECT TAXES CODE BILL, 2009", which is published on the Finance Ministry website. It that aims at abolishing Securities Transaction Tax and increasing deduction for savings up to Rs 3 lakh (Rs. 300,000) and moderating income tax rates. The direct tax code is meant to replace the Income Tax Act - 1961, and simplify direct taxes by bring them all of them under its purview.
The direct taxes code, along with a discussion paper can be found here
DIRECT TAXES CODE BILL, 2009
You can read the code, and send your comments on the site. |
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