Ditect Tax Code

•Direct Tax Code will replace Income tax Act, 1961 and Wealth tax Act (Covering Income Tax, TDS, DDT, FBT and Wealth tax).  Shall come into force on the 1st day of April, 2012. The code consists of 285 sections 

General Provisions:

To eliminate confusion, only ‘Financial Year’ will prevail. •

Date of filing of tax return has been advanced to 30th June for non-business non-corporate assessee and 31st Aug for others...•

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