|
The Direct Taxes Code (DTC) is said to replace the existing Indian Income Tax Act, 1961. The direct tax code seeks to consolidate and amend the law relating to all direct taxes, namely, income-tax, dividend distribution tax, fringe benefit tax and wealth-tax so as to establish an economically efficient, effective and equitable direct tax system which will facilitate voluntary compliance and help increase the tax-GDP ratio. Another objective is to reduce the scope for disputes and minimize litigation. It is designed to provide stability in the tax regime as it is based on well accepted principles of taxation and best international practices. It will eventually pave the way for a single unified taxpayer reporting system. 〔(Direct Tax Code | DTC India 2009 | Deciphering DTC - Ernst & Young - India )〕〔(Business Line : Features / Mentor )〕〔(DTC's impact on India Inc )〕 == Highlights of the Direct Taxes Code == * Proposed bill has 319 sections and 22 schedules against 298 sections and 14 schedules in existing IT Act. * Once enacted, DTC will replace archaic Income Tax Act. * However, many provisions in Income Tax Act will be a part of DTC as well. * Mutual Funds/ULIP dropped from 80C deductions : Income from equity-oriented mutual funds or ULIP shall be subject to tax @ 5% * Fringe benefits tax will be charged to the employee rather than the employer. * Political contribution of up to 5 percent of the gross total income will be eligible for deduction. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Direct Taxes Code」の詳細全文を読む スポンサード リンク
|