New Indian Direct Tax Code spells change
September 01, 2010
On August 30 2010, the Indian government tabled a Direct Tax Code Bill 2010 in the parliament. The new code aims to replace the Income Tax Act 1961 and the Wealth Tax Act 1957. If enacted, it will be effective from April 1 2012.
The proposed provisions in the code includes certain modifications in the transfer pricing regulations as compared to the discussion draft on Direct Taxes Code released in August 2009 as well as the Act.
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