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WHAT IS DIRECT TAXES CODE
Direct Taxes Code
Through Direct Taxes Code (DTC), the government aims to simplify the structure of direct tax laws in India into a single legislation. The DTC will replace the Income-tax Act, 1961, and other direct tax legislation like the Wealth Tax Act, 1957.
 
 
The first draft Direct Taxes Code Bill was released on August 12, 2009, and then a Revised Discussion Paper (RDP) was in 2010.
 
DTC 2010 was introduced in Parliament and the government formed a Standing Committee of Finance (SCF) to discuss it with various stakeholders. The SCF submitted its report to Parliament in 2012. The government took into account the recommendations of the SCF and a revised version of DTC was released in 2014. However, it lapsed when the NDA government came to power that year. ....

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