INTRODUCTION - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER I - MINIMUM ALTERNATE TAX - GROSS ASSETS VIS-À-VIS BOOK PROFIT - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER II - TAX TREATMENT OF SAVINGS - EXEMPT EXEMPT TAX (EET) VIS-À-VIS EXEMPT EXEMPT EXEMPT (EEE) BASIS -

CHAPTER III - TAXATION OF INCOME FROM EMPLOYMENT - RETIREMENT BENEFITS AND PERQUISITES - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER IV - TAXATION OF INCOME FROM HOUSE PROPERTY - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER V - TAXATION OF CAPITAL GAINS - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER VI - TAXATION OF NON-PROFIT ORGANISATIONS - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER VII - SPECIAL ECONOMIC ZONES - TAXATION OF EXISTING UNITS - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER VIII - CONCEPT OF RESIDENCE IN THE CASE OF A COMPANY INCORPORATED OUTSIDE INDIA - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER IX - DOUBLE TAXATION AVOIDANCE AGREEMENT (DTAA) VIS-À-VIS DOMESTIC LAW - Revised Discussion Paper ¡V Direct Tax Code (DTC)

CHAPTER X - WEALTH TAX - Revised Discussion Paper - Direct Tax Code (DTC)

CHAPTER XI - GENERAL ANTI-AVOIDANCE RULE - Revised Discussion Paper - Direct Tax Code (DTC)

 

Download - entire Revised Discussion Paper - Direct Tax Code (DTC) in PDF format issued dated June 15, 2010

Direct Tax Code revisions: MAT on book profit, savings EEE/EET adjustments, capital gains, residence, NPOs, wealth tax and GAAR. The Revised Discussion Paper narrows the DTC tax base and revises key regimes: MAT will be computed with reference to book profit rather than gross assets; existing provident and specified pension/insurance instruments retain EEE treatment while EET is applied prospectively for new arrangements; centralized Retirement Benefits Accounts and the Capital Gains Savings Scheme are not introduced; actual rent, not presumptive notional rent, determines house property income with limited interest deductions for self occupied homes; capital gains are generally taxed as ordinary income with a specified deduction for listed equity held over one year and the cost base reset to 1.4.2000 for other assets; FIIs' equity market gains are treated as capital gains (advance tax, no TDS); nonprofit taxation is restructured around charitable purpose with registration, cash accounting and limited carry forward; residence of a foreign company is tied to place of effective management and CFC provisions and a calibrated wealth tax and GAAR with safeguards are proposed.