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Direct Taxes Code
 
  DIRECT TAX CODE MAY SPARE HOME LOANS |   JEWELLERS SEEK CHANGES IN NEW TAX CODE |   DIRECT TAXES CODE WITH CHANGES: FM |   Direct taxes code to provide environment conducive for foreign investments: FM |   INFRA FIRMS MAY GET MAT RELIEF |   FINMIN SEEKS PM VIEWS ON TAX CODE |   AGRICULTURAL INCOME WILL CONTINUE TO BE EXEMPT FROM INCOME TAX UNDER THE NEW CODE |   GOVERNMENT OPEN TO REWRITING DIRECT TAX CODE |   REWRITING THE CODE |   TAX CODE HAZE MAY HIT FUND INFLOWS |   SOPS FOR SEZS TO CONTINUE: MINISTRY |   INSURANCE COUNCIL OPPOSES PROPOSED EET REGIME IN DRAFT DIRECT TAXES CODE |   NEW TAX CODE MAY GIVE A FILLIP TO LONG-TERM LIFE POLICIES |   COMMERCE FIRM ON KEEPING SEZs OUT OF NEW TAX CODE |   CBDT FEELS TAX CODE NEEDS MAJOR REWORK |   GOVERNMENT MAY DROP TAX ON RELIGIOUS TRUSTS FROM CODE |   NEW TAX CODE – SECOND INNING IN ONE DAY MATCHES BY THE CIT(A) FOR THE A.O. |   CBDT FOR TIGHTENING NORMS PROPOSED IN DIRECT TAXES CODE |   “DEBATE TAX CODE PRINCIPLES, NOT PROVISIONS’ |   ASSET-BASED TAXATION CAN IMPACT INVESTMENT: ASSOCHAM |   GOVT TO LOOK INTO CONCERNS ON DRAFT DIRECT TAXES CODE |   GOVERNMENT DISCUSSING SUGGESTIONS OF STAKEHOLDERS TO MODIFY DIRECT TAX CODE: FM |   MAT MAY BE KEPT INTACT AFTER INDUSTRY PROTEST |   NEW DIRECT TAXES CODE LIKELY TO HIT PFC OPS |   SEZ TAX SOP ISSUE A PRIORITY |   PROPOSED MAT RATE COULD BE CUT BY 1% |   BJP LOOKS TO GAIN TRADERS’ TRUST, SLAMS TAX CODE |   LIFE INSURANCE COS’ CONCERN OVER DIRECT TAXES CODE |   NBFCs SEEK EXEMPTION FROM MAT |   COMMERCE DEPT TO BAT FOR SOPS IN TAX CODE |   CBDT TO RELOOK AT MAT, TAX ON SAVINGS |   NEW CODE MAY BE TAXING FOR CAPITAL-INTENSIVE COS |   CONSULTATION STILL ON; DIRECT TAXES CODE UNLIKELY TO BE TABLED IN WINTER SESSION |   GST NOT TO AFFECT TRADE, INVESTMENT: FINMIN |   COMMERCE MIN CONSULTING SEZ UNITS PRIOR TO TAX TALKS WITH MOF |   TAXMEN GIVE TAX CODE THE THUMBS-DOWN |   EET AND INDEXATION FOR EXEMPTIONS AMOUNT |   CRITICAL AREAS ON DTC FOR DETAILED EXAMINATION IDENTIFIED: FM |   MAT PROVISIONS IN THE DIRECT TAXES CODE AREMISCONVEIVED AND NEED TO BE REVIEWED FOR WITHDRAWAL. |   DIRECT TAXES CODE 2009 - WHY GO AFTER CHARITIES AND CHARITABLE INSTITUTIONS TO IMPROVE REVENUES |   LIFF INSURERS SEEKS CHANGES IN TAX CODE |   COMMERCE DEPT BATS FOR SEZ SOPS |   HIGHWAYS MINISTRY ANALYZING IMPACT OF NEW TAX CODE |   CBDT MAY RETAIN ITS TEETH |   INSURERS AGAINST NEW TAX REGIME FOR POLICIES SOLD BEFORE APRIL 2011 |   REVENUE SECY HINTS AT PLUGGING TAX LEAKAGES |   U/S 44AB |   NEW TAX CODE SET TO REVOLUTIONISE INVESTMENT BEHAVIOUR |   CLARIFY TAX EXEMPTION STATUS FOR SEZS, SAYS EXPORT PROMOTION COUNCIL |   COMMERCE, FINANCE MINISTRIES TO LOCK HORNS OVER SEZ TAX BENEFITS |   FM-INDUSTRY TAX MEET ON OCT-9 |   NEW TAX MAY PUSH UP COST OF NON-LIFE COVER |   DIRECT TAX CODE |   INSURANCE CLAIMS MAY BE TAXABLE UNDER NEW CODE |   DRAFT CODE SET TO DO AWAY WITH REVIEW OF DOUBLE TAXATION PACTS |   PRANAB TO MEET INDUSTRY BODIES ON OCT 9 |   DIRECT TAX CODE NEEDS OVERHAUL: EXPERTS |   TAX REVENUE LOSSES WILL CONTINUE FOR A WHILE, SAYS PRANAB |   DIRECT TAX CODE CURTAIN RAISER - TRANSFER REDEFINED - UGLY DEFINITION |   TAX AXE TO CHOP CHARITIES TOO! - Religion & Politics Sheltered As Taxman’s Holy Cow! |   DIRECT TAXES CODE---FROM WHICH YEAR ? |   MINIMUM TAX BRINGS MAXIMUM WOES! - MAT At 2% On Value Of Gross Assets Can Spell Corporate Doom! |   FIIS FEAR HIGHER TAX OUTGO UNDER NEW DIRECT TAX CODE |   Tax revamp in India – Real or Disguised? |   NRIs TREATED AS NOT REQUIRED INDIANS! - Harsh, Illogical & Discriminatory Taxing Provisions For NRIs! |   ANALYSIS OF DIRECT TAX CODE FOR NPOs |   Draft Direct Tax Code brings overall cheers for Individuals |   NOW NO CAPITAL GAIN WITHOUT TAX PAIN! - End Of Tax Honeymoon For Market Investors! |   Decoding the Direct Taxes Code - III - Taxability of Amount Receivable under Life Insurance Policies |   Salary |   AUDIT LIMIT U/S 44AB |   MINUS SOCIAL SECURITY : EET = INEQUITY? |   Code is silent on tax treatment of reverse mortgages |   Can a Limited Liability Partnership of CAs be appointed auditors of a company? |   TAXATION OF GIFTS UNDER THE CODE |   Direct Taxes Code : Proposals impacting non-residents and tax treaties |   Way out to foreign Investors-tax shelter under Indian tax treaties may still prevail |   Direct Tax Code – Curtain Raiser - Capital forfeiture or cessation of capital account liability |   Direct Tax Code – Some thought |   Decoding the Direct Tax Code - MAT - Making Companies slim Ms. Kareena Kapoor style |   New Direct Tax Code Bill, 2009 - Key Highlights |   NEW TAX AVATAR - DIRECT TAX CODE |   CHANGES GALORE-INDIA’S INTERNATIONAL OBLIGATIONS IN DIRECT TAX CODE |   NEW DIRECT TAX CODE WOULD MAKE THE TAX REGIME ON BASIS OF EXEMPT – ‘EXEMPT – TAX’ |   PREPARE FOR THE TDS NIGHTMARE! - No Respite From The TDS Bite Even For Non-Taxpayers! |   TAX GAIN & PAIN IN THE NEW EXEMPT EXEMPTION-TAX (EET) REGIME |   DTC - Not the Common Man’s Code |   Loans from Life Insurance Policies, periodical receipts from money back policies and withdrawals from ULIPs taxable as income under the Direct Taxes Code |   Tax Gain & Pain in the new EET regime |   CRACKING THE CODE - TAX BOMBSHELL HANGS ON INSURANCE! - Code Has Not Visualized Many Dreadful Conseq | 
View Articles
Direct Taxes Code 2009 Discussion Paper Revised Discussion Paper
Experts on Direct Taxes Code
 

AGRICULTURAL INCOME WILL CONTINUE TO BE EXEMPT FROM INCOME TAX UNDER THE NEW CODE


Synopsis
Continuation of Exemption of Agricultural Income under the New Code.
Benefits of Exemption Extended to Urban Agricultural Land.
Capital Gains on Agricultural Land
Agricultural Income to be taken into Consideration for Rate purposes.

1. Continuation ...

 

Posted By : CA. Nirmal Ghorawat(Chartered Accountant)   Posted On : 13/12/2009 08:28:52 PM

NEW TAX CODE – SECOND INNING IN ONE DAY MATCHES BY THE CIT(A) FOR THE A.O.


The Direct Taxes Code [Code] proposes to provide for second inning to the I.T. Department before the CIT(Appeals) in what is supposed to be one inning game between the A.O. and the taxpayer.

Sub-clause (2) of clause 186 of the Code proposes that “The Commissioner (Appeals) may consider an...

 

Posted By : T.N. Pandey(Ex-Chairman, CBDT)   Posted On : 13/11/2009 12:54:13 PM

EET AND INDEXATION FOR EXEMPTIONS AMOUNT


Our visionary Ex finance minister, has always said that EET is applicable in western countries and he said that the same should be applicable in our country also. Now the direct tax code brings in that concept of EET from EEE, but one thing the tax authorities are missing is that in India we do not ...

 

Posted By : Mallikarjuna Gupta Bhogavalli(Salaried Empolyee)   Posted On : 09/10/2009 12:05:18 PM

MAT PROVISIONS IN THE DIRECT TAXES CODE AREMISCONVEIVED AND NEED TO BE REVIEWED FOR WITHDRAWAL.


Chapter-V titled ‘ computation of the value of gross assets’ provides for a new tax on companies [mentioned as Minimum Alternate Tax (MAT) in the discussion paper]. Such tax is payable at the following rates on value of gross assets:

(i) In cases of Banking Companies - @ 0.25%
(...

 

Posted By : T.N. Pandey(EX- Chairman, CBDT)   Posted On : 06/10/2009 12:58:30 PM

DIRECT TAXES CODE 2009 - WHY GO AFTER CHARITIES AND CHARITABLE INSTITUTIONS TO IMPROVE REVENUES


Income-tax legislation in India and of other countries has been providing tax benefits for charitable activities since umpteen years. The concept of ‘charity’ and ‘charitable purpose’ have been incorporated in tax legislations and explained by judicial decisions and by various legal and other books....

 

Posted By : T.N. Pandey(EX- Chairman, CBDT)   Posted On : 06/10/2009 12:47:17 PM

U/S 44AB


It is good to note that new tax code is being introduced/implemented
FM can think of enhancing the limit upto 3 crore as against
limit of Rs.40lakhs(base was 1984)...

 

Posted By : Venkataramu b.n.(Tax Consultant)   Posted On : 29/09/2009 04:53:32 PM

DIRECT TAX CODE


New DIRECT TAX CODE violates the principal of vertical equity. AS the wealth tax limit is increased to 50 crores & rate is reduced to .25%...

 

Posted By : Pratik(CA)   Posted On : 23/09/2009 10:09:16 PM

DIRECT TAX CODE CURTAIN RAISER - TRANSFER REDEFINED - UGLY DEFINITION


Section 2 (47) of the Income tax Act, 1961 has been a very tricky definition section dealing with the term ‘transfer’. As many as 6 on date clauses therein set the parameter to judge the effect of a capital account transaction. But the hidden list is endless as the term “Transfer" has been defined ...

 

Posted By : Gopal Nathani(Chartered Accountant)   Posted On : 16/09/2009 06:27:26 PM

TAX AXE TO CHOP CHARITIES TOO! - Religion & Politics Sheltered As Taxman’s Holy Cow!


Complex Provisions To Perplex Charities New Jargon – Fresh Norms

v Charitable trust to bear the new identity of ‘Non-Profit Organisation (NPO).’

v Charitable purpose replaced by the new phrase ‘permitted welfare activity (PWA).’

v Fresh procedure for NPO registration...

 

Posted By : Mukesh M. Patel(Advocate)   Posted On : 16/09/2009 06:03:07 PM

DIRECT TAXES CODE---FROM WHICH YEAR ?


The FM unveiled on 12th August, 2009 the draft Direct Taxes Code (‘the code’) which contains many laudable provisions & marks a paradigm shift in the matter of taxation. It seems to be the prevalent perception that the code is intended to be made applicable (after the legislative process is gone ...

 

Posted By : Rajesh Gupta(VP-Taxation)   Posted On : 16/09/2009 05:59:02 PM

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Disclaimer : Views so expressed are the personal views of authors(s).
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