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Friday, August 23, 2013

Direct Tax Code (DTC) bill at Cabinet, Deferred

The Direct Taxes Code (DTC) Bill, which seeks to overhaul the over 50-year old income-tax law, with minor rejigs in the draft, including in the income-tax slabs was at the Cabinet yesterday but was deferred. The reason being the proposal to levy a super-rich tax on those earning above Rs 10 crore yearly did not find favour with some senior officials....