Sumedha Journal Of Management
Year : 2012, Volume : 1, Issue : 4
First page : ( 13) Last page : ( 19)
Print ISSN : 2277-6753.

Impact of the Direct Tax Code on Different Income Group of Assesses

Dr. Kumar Vikas, Guest Faculty, Dr. Yadav Sohan Lal, Head

Department of Commerce, Harishchandra P.G. College, Varanasi

Online published on 17 August, 2013.

Abstract

The year 2009 was a landmark year for Indian taxation system. The Government of India introduced the Direct Taxes Code (DTC) Bill along with a Discussion Paper on 12^th August 2009 for public comments. A lot suggestions and recommendations received from different stakeholders. Thereafter, the revised DTC Bill has been issued on 15^th June 2010. The Union Cabinet approved the DTC on 26^th August 2010. A paradigm change is going to take place very shortly in the Indian tax system after 50^th (golden zubli year) year of income tax act 1961 which was applicable from 1-4-1962 to 1-4-2012 with the adoption of the DTC.This paper is an attempt to present history of Indian tax system, objective of direct tax code and imputed effect of the DTC on the different Income group of assesses.

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