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Fact sheet on the proposed new direct tax code

Category :India Sub Category :National,Business
2009-08-12 00:00:00
   Views : 411

How will it help: The idea is to keep the provisions simple so that even an average taxpayer can understand the language, than having to go to chartered accountants and income tax practitioners. It will also introduce the concept of tax calculators.

Administrative reforms: The new code will also recast the powers of the Central Board of Direct Taxes, induce more transparency in decision-making and tune it to tax boards of countries like the US, Canada and Britain.

What can the public do: The finance ministry has uploaded on its website - www.finmin.nic.in - the draft direct tax code, a discussion paper, a comment on the code and what rating people would like to give to it.




Author :Indo Asian News Service



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