Thursday, January 31, 2013

Modified DTC Bill to be tabled. Will IT exemption go up - to 3 Lakhs?

The government is to come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance. One of the major suggestions is the raising of the annual income tax exemption limit to Rs. 3 lakh.This was announced by Shri Parthasarathi Shome, Advisor to the Finance Minister. He told that the Ministry is studying into the DTC Bill and working on ....