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Showing posts with label Direct Tax Code. Show all posts
Showing posts with label Direct Tax Code. Show all posts

Direct Tax Code - Slab Start from April 2012

The Pranab Mukherjee the finance minister of India want that more people and firms are come into thise tax slab. The long-awaited  Code will come into action from Apr 1, 2012.The government is planning to reform the direct tax system.
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Proposed Direct Tax Code & New Tax Slab 2011-2012

India Finance Minister Mr Pranab Mukherjee has proposed  new Direct Tax Code Bill repalcing old  indian income tax act of 1961. In this new act the minimum  basic exemption limit for individual tax slab is now Rs 2 lakh to 10 lakh and above. the two lakh to five lakh individual tax payer can pay 10%, five lakh to 10 lakh 20% and 10lakh and above tax payer can pay 30 % of tax. It will be effective from next year Financial Year 2011-12.
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