Revised Discussion paper on Direct Tax Code

The Draft of Direct Tax code which was released earlier of 2009, for the public feedback and all stakeholder’s views on it was considered in the Revised Discussion on Direct Tax Code, Major issues related to changes in Draft are addressed in the Revised Discussion paper though there are still issues which are subjected to modifications and was suggested that the modifications will be addressed before finalizing the Final Direct Tax Code. The Revised Discussion Paper on Direct Tax Code dealt with the issues on :

  1. Minimum Alternative Tax – Gross Assets vis-a-vis Gross Profits
  2. Tax Treatment of Savings
  3. Taxation of Income from Employment – Retirement benefits and Perqusites
  4. Taxation of Income from House Property
  5. Taxation of Income from Capital Gains
  6. Taxation of non-profit organisations
  7. Taxation of Special Economic Zones – Taxation of Existing Units
  8. Concept of Residence in the case of a company incorporated outside India
  9. Double Taxation Avoidance Agreement (DTAA) vis-a-vis domestic law
  10. Wealth Tax.
  11. General Anti Avoidance Rule

The Whole Revised Discussion Paper can be downloaded here – Revised Discussion Paper.pdf

Dilip Kumar

+Dilip Kumar (Author and Editor of The Tax Info) is a Chartered Accountant from Hyderabad, Loves Blogging on Tax related matter.

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