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Decades-old provisions of I-T Act will soon be replaced
Rediff.com

Decades-old provisions of I-T Act will soon be replaced

A panel will draft direct tax legislation, keeping in mind the  system in other countries, international best practices and economic needs of the country. Illustration: Uttam Ghosh/Rediff.com The government has brought back the main author of the now junked Direct Taxes Code (DTC) as a convenor of the task force to review the decades-old provisions of the Income-Tax Act and draft a replacement.   The government has, however, already implemented many provisions of the draft DTC, such ... Rediff.com, 3 weeks ago
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