Posted: 15-Jun-10 in Finance by Moumita C Sarkar 13 Comments

Direct Tax Code 2011: Revised, New Direct Tax Code for 2011

Advertisement:

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.

Share

Get Updates by eMail: Submit eMail Here

Not what you are looking for? Search again


Special Note: Please note that Comment Section available below is for "Discussion amongst our Visitors" and NOT for Official Queries and Requests. Please report in-appropriate content to our web admin. Please read our Disclaimer before reporting.

Forestlaneshul.com publishes news in association with IANS, IBNS, Sampurn News, MNS, etc. Read More.

Comments/Queries
( 13 Comments so far )

  • suresh patel
    Jun 15, 2010 at 09:15:pm

    Hello, where to get the details of the direct tax code of 2011?

  • venkatesn
    Jun 15, 2010 at 09:38:pm

    Mr. Pranab has more than reasonable addressed all the concerns of the people on the first draft.
    I welcome such pragmatic move.
    venkatesan

  • Dr A.GARG
    Jun 16, 2010 at 10:54:am

    Kindly tell wether encashment of leave, gratuty and 40% commutation of pension at the time of retirement shall be taxed in new Direct Tax Code-2011

  • Arun Kumar Todani
    Jun 16, 2010 at 11:37:am

    Where are the provisions of Income Tax Settlement Commission? Does the Govt. proposes to do away with the provisions of settlement of cases? Then what prompted the Hon’ble FM to allow search cases entitled for settlement in the recent budget?

  • Chari
    Jun 19, 2010 at 04:06:pm

    Any relief to Senior Citizens ?

    Limit in Post Office/Bank to be raised under SCSA and
    also in Post Office Monthly Income Scheme.

    At least, a Health Insurance Policy covering the existing
    ailments should be considered. The CGHS is unable to address to the minimum needs of Sr.Citizens covered under
    the CGHS. Something should be done in this direction please.

  • Dr G. C. Kar
    Jun 27, 2010 at 02:07:pm

    The provision EEE does not have coverage for senior citizens.
    The senior citizens and pensioners are not likely to take sdvantage of PF, 15 year PPF, LIC or Pension Fund Contributions and as a result, they will have to pay taxes,if any, as they cannot avail the above tax relief schemes. The existing NSC, 5 year fixed bank deposit and SCSS instruments should continue to give relief at least to senior citizens. Our dynamic Finance Minister, we hope, will look into this matter.

  • Sumit Bansal
    Aug 16, 2010 at 08:13:pm

    Its very good that Government is plannong to introduce DTCbut some points ust be taken into consideration that Deductions U/S 80 IA is very good it help to build a bright future by setting up new industries.

  • CA ANOOP KUMAR
    Aug 27, 2010 at 11:08:am

    Now when, in the proposed DTC draft, the wealth tax threshold amount has been reduced from the earlier proposed of Rs. 50 Crores to Rs. 1 Crores, additional assets proposed to be liable to wealth tax in the earlier version of the DTC draft, have to be dropped and only the assets already taxable should be subjected to the levy of wealth tax. Only then the inflation effect of the economy may be passed on to the assessees as far as the determination of wealth tax liability is concerned.

  • naitik shah
    Aug 27, 2010 at 04:06:pm

    It is benificial to the salaried person.because salaried person have no option to hiding the income..It is a good planning of mr pranab mukharji, after the amending DTC, all the individuals show more income.so it is really benificiary to the person.

  • M. Hameed Ali
    Aug 31, 2010 at 11:44:am

    hi

    ANY SPL BENEFITS TO EX-SERVICE MEN/WOMEN?

  • PREM CHANDRA JHA (P.C.JHA)
    Oct 28, 2010 at 12:19:pm

    Hello, my comment is that the income tax should be nil up to 3 laks because most of the people is working in small scale industries and samll organisation whose income is not enough for his fundamental requirement.

  • PREM CHANDRA JHA (P.C.JHA)
    Oct 28, 2010 at 12:26:pm

    Hello, where to get the details of the direct tax code of 2011?

  • DHARMENDRA KUMAR
    Mar 18, 2011 at 11:42:am

    I WANT TO START SOME WORK PL GUIDE ME.
    THANKS

Post your comments or inquiries