DTC, GST to be introduced in Parliament after taking Par panel suggestions, says FM
October, 30th 2012
P Chidambaram has said he is reviewing the Direct Taxes Code (DTC) Bill and it will be introduced in Parliament after taking into account the recommendations of the Parliamentary panel.
Chidambaram will meet empowered committee of state finance ministers on November 8 to build on his recent discussion with the chairman of the committee, Bihar finance minister Sushil Modi, on the goods and services tax ( GST).
"A quick review of DTC (Direct Taxes Code) Bill will be done. The DTC review will be completed and bill will be introduced in Parliament after taking note of Parliamentary Standing Committee recommendations," he told reporters.
The Parliamentary Standing Committee on DTC, headed by senior BJP leader Yashwant Sinha, in its report had recommended an increase in income tax exemption limit to 3 lakh from the current 2 lakh.