Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: empanelment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: due date for vat payment :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

Govt may not table Direct Tax Code Bill soon
September, 07th 2007

The political crisis over the Indo-US nuclear deal is likely to hit the passage of the much-awaited Direct Tax Code Bill in Parliament. The government is unlikely to introduce the Bill, which would replace the existing Income Tax Act, 1961, in the winter session of Parliament, as scheduled.

The Bill was earlier expected to be tabled in the monsoon session but was later re-scheduled for the winter session beginning in December.

Government sources said, To avoid further controversy, we may decide not to table the Bill in December. Every action of the government is being seen against a political backdrop at present, and we do not want to introduce something in such a scenario.

The threat of mid-term elections, too, has worried the government, and it is not keen to start anything new right now, sources said.

Finance ministry officials are in fact worried that the Bill may eventually be shelved, if the Congress-led UPA is voted out of power, mid term. It happens all the time. The new government may not want to carry forward this agenda of tax reforms, an official pointed out.

Sources also said the Bill has almost been finalised by the ministry. Finance minister P Chidambaram has discussed and approved it, and it is now likely to be sent to the law ministry for its recommendations in the next few weeks.

The proposed Bill is a comprehensive review and simplified version of the existing Income Tax Act. The Bill is also likely to contain a number of policy changes based on the current economic conditions.

The political crisis has already created a furore in both the Houses of Parliament, with both being adjourned on a regular basis.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions