Direct Taxes Code: Changing Paradigm of Tax Rules in India
Expert Guide - Tax, September 2011
5 Pages Posted: 5 Oct 2011
Date Written: September 12, 2011
Abstract
The Government of India submitted the ‘Direct Taxes Code’ Bill, 2010 the Parliament in August, 2010. The Code, expected to come into force from the next financial year i.e. 1st April 2012, is not just a regular amendment but replaces all the existing direct tax laws in India. The drafters have also worked 'on a clean drafting slate'. This seems to be sufficient impetus for a deeper scrutiny of the Code for all those who derive income from India and thus would be subject to the rigours of the Code. While the changes proposed are multifold, this paper limits it coverage to focus on key changes in the international taxation front.
Keywords: Direct Taxes Code, international taxation, India
JEL Classification: E62, H25, H26, H29, K34
Suggested Citation: Suggested Citation