The new direct tax code will focus of making the Income Tax Act simpler and less prone to litigation
New Delhi: Prime Minister Narendra Modi’s parting shot in policymaking before 2019 Lok Sabha elections—the draft direct tax code—is likely to be a strong message about stability and certainty in taxation rather than any structural shift. The tax code, therefore, will not propose tax rate changes or tax slab revisions. Instead, it will focus on making the Income Tax Act, 1961, simpler and less prone to litigation.
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