Finance Minister P Chidambaram on Monday 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.
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 taking note of Parliamentary Standing Committee recommendations, he said.
Chidambaram said while making amendments to the Bill, he would look at the one that was introduced, at the standing committee's recommendations and also at the current economic situation.
Final version of Bill will reflect all these. By and large we will have to abide by Standing Committee's recommendations, he said.
The Parliamentary Standing Committee on DTC, headed by senior BJP leader Yashwant Sinha, in its report had given a number of recommendations, including raising income tax exemption limit to Rs 3 lakh. The current exemption limit