https://www.taxtmi.com/news?id=1175 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. en-us Tue, 15 Jun 2010 22:54:06 +0530 Wed, 11 Feb 2026 15:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1175 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. News - Tue, 15 Jun 2010 22:54:06 +0530 https://www.taxtmi.com/news?id=1175