Direct Taxes Code

The task force headed by Central Board of Direct Taxes member Akhilesh Ranjan was expected to submit the report on February 28.

Budget 2018: FM may offer sneak peek into direct tax overhaul plans

While a task force on direct tax reforms will submit its report by May, the Budget speech may indicate broad pointers of the blueprint

Union Budget 2017-18: What you must know about indirect transfers

The Union Budget has exempted Foreign Portfolio Investors (FPIs) in Category I and II from the indirect transfer provision

Union Budget 2015: FM to set limit for taxing indirect share transfer by MNCs

Seeking to bring about clarity in taxation of indirect transfer of assets by MNCs, Finance Minister Arun Jaitley is likely to introduce the threshold to establish whether a overseas company has substantial business interest in India.

FM to meet opposition leaders on insurance bill on Aug 3

Keen to get insurance bill approved in the ensuing monsoon session of Parliament, Finance Minister P Chidambaram today said he will meet leaders of the opposition parties on August 3

L&T approaches Govt to surrender SEZ

Reflecting lack of enthusiasm for special economic zones, 16 developers including Cognizant Technology Solutions and Parsvnath SEZ have sought more time from the government for implementing their projects

Biased towards rate sensitives, cyclicals than defensives

The market is unlikely to fall significantly even if the Budget disappoints, says Dhiraj Sachdev, Vice President & Fund Manager, HSBC Global Asset Management.

Budget 2013-14: Salaried class employees want IT exemption limit raised

A vast majority of salaried class employees in a host of trade and industry sectors want Finance Minister P Chidambaram to raise the income tax exemption limit to at least Rs three lakh and increase deductions like medical and educational allowances in the Budget, an Assocham survey said.

Govt to come out with modified DTC Bill: Shome

The government will come up with a modified Direct Taxes Code Bill after incorporating the suggestions of the Standing Committee on Finance, which among things had suggested raising annual income tax exemption limit to Rs 3 lakh.

GAAR Draft 2: A Course Correction!

By: Sunil Jain, JSA

Direct Taxes Code needs fresh look: Chidambaram

Finance Minister P Chidambaram today said that the Direct Taxes Code (DTC), initiated by him during his earlier tenure, needed a fresh look.

Plan to introduce DTC Bill in next Parliament session: FM

The Direct Taxes Code (DTC) Bill will be introduced in the next Parliamentary session where it will be scrutinized and examined, said Finance Minister Pranab Mukherjee.

GAAR may be thrown open to public debate: Mukesh Butani

Chairman of BMR Advisors Mukesh Butani believes that the government will throw general anti-avoidance rules (GAAR) open to public debate in the next one year.

Budget Analysis: Five objectives that underpin Budget 2012

Given that the Budget proposals have been presented a day after March 15, we must hope that Shakespeare's admonition to "Beware the Ides of March" remains within the confines of classical literature.

Budget Reactions: KPMG welcomes extension of R&D tax deduction period

Vikram Doshi, tax partner at KPMG gives his views on the R & D Budget announcements.

Report of the SCF on DTC 2010

This PwC Alert contains the key provisions of the Direct Taxes Code relevant for both residents and non-residents.

Budget 2012: Equity market investors may see some relief

Government sources tell CNBC-TV18 that Budget 2012 may have a few positive announcements for equity markets.

Budget 2012: Direct Tax Code: Par panel report on DTC tabled in LS

The Parliamentary panel on Direct Taxes Code in its report tabled in Lok Sabha today has suggested raising the income tax exemption limit to Rs 3 lakh.

Union Budget 2012: Insurance cos seek greater deduction under 80-C

Players in the insurance sector want a bigger tax deduction threshold under section 80-C to generate more demand for policies, something executive vice president of Kotak Mahindra AMC, Suresh Agarwal strongly supports.

Budget Expectations: Hope FM doesn't raise taxes, says HDFC Life

Amitabh Chaudhry, managing director and chief executive of HDFC Life says that the insurance industry is worried that the FM will implement the DTC in parts.

PSC's Suggestions on DTC

The Government of India (GOI) is in the process of revising, consolidating and simplifying the language and structure of the direct tax laws into a single legislation – the Direct Taxes Code.

Budget Expectations: FICCI seeks policy reforms rather than tax cuts

With Budget 2012-13 just a few days away, the wish list of industry chambers are out. But this time around, they are not pitching hard for tax cuts.

Exemption from I-T returns if salary not over Rs5 lakh/yr

Salaried employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, says a Finance Ministry notification. There are about 85 lakh salaried persons in the country whose yearly income, including earnings from other sources like bank deposits, does not exceed Rs 5 lakh.

Parliament panel on DTC defers decision; to meet on Feb 17

The Standing Committee on Finance, which is understood to have suggested raising I-T exemption limit to Rs 3 lakh under the Direct Taxes Code, today postponed adoption of its report on the proposed legislation, as certain issues are yet to be resolved.

Tax exemption limit may be increased to Rs 2 lakh in Budget

The government is likely to provide some relief to individual income tax payers in the forthcoming Budget by raising the exemption limit to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the slabs for different tax brackets.