https://www.taxtmi.com/news?id=12610 The Direct Taxes Code, 2013 establishes a consolidated charge of income tax on every person's total income of a financial year, prescribes residence rules determining inclusion of foreign and India sourced income, and defines when income is deemed to accrue in India. It classifies income into heads-employment, house property, business, capital gains and residuary sources-and prescribes detailed computation rules (gross receipts, deductions, depreciation, capital allowances and rollover relief). The Code also introduces specific anti avoidance measures including transfer pricing rules, advance pricing agreements and a General Anti Avoidance Rule, together with detailed administrative, assessment, collection and dispute resolution procedures. en-us Tue, 01 Apr 2014 12:21:52 +0530 Wed, 11 Feb 2026 15:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12610 The Direct Taxes Code, 2013 establishes a consolidated charge of income tax on every person's total income of a financial year, prescribes residence rules determining inclusion of foreign and India sourced income, and defines when income is deemed to accrue in India. It classifies income into heads-employment, house property, business, capital gains and residuary sources-and prescribes detailed computation rules (gross receipts, deductions, depreciation, capital allowances and rollover relief). The Code also introduces specific anti avoidance measures including transfer pricing rules, advance pricing agreements and a General Anti Avoidance Rule, together with detailed administrative, assessment, collection and dispute resolution procedures. News - Tue, 01 Apr 2014 12:21:52 +0530 https://www.taxtmi.com/news?id=12610