Direct Tax Code 2011: Revised, New Direct Tax Code for 2011
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A discussion paper on the new revised Direct Tax Code for 2011 has been unveiled by the government on Tuesday. The new Direct Tax Code is expected to make a lot of changes in the corporate as well as personal income tax calculation and planning.
According to the discussion paper on the new Direct Tax Code for 2011, “The indicative tax slabs and tax rates and monetary limits for exemption and deductions proposed in the direct tax code will be calibrated while finalizing the legislation”.
The first version of the draft of the new tax code was released in the month of August this year and this is the new and revised version of the same. The new direct tax code is expected to be introduced in the Indian Parliament in the next session.
