Tag: Direct Tax Code

Income-Tax
Govt to frame new law to replace Income Tax Act 1961?

New Delhi/Bhubaneswar: The existing Income Tax Act may soon be replaced by a new direct tax law. Arbind Modi, the person who helped to draft the Direct Tax Code 2009, was given the task again on Thursday to draft a new law to meet the contemporary economic needs of the country. The six-member taskforce led […]

  • Friday, 23 July 2021
Nirmala Sitharaman
Task Force On Direct Tax Code To Submit Report By July 31: FM

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said that a task force on the new Direct Tax Code will submit its report by month end. The new direct tax code is set to replace the existing Income Tax Act. The aim is to reform the complex income tax laws into simpler tax codes with […]

  • Wednesday, 28 April 2021
tax
Tax Task Force Recommends New Tax Slabs For Individuals

New Delhi: A government constituted Direct Tax Code task force, headed by CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to […]

  • Monday, 26 April 2021
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