https://www.taxtmi.com/news?id=12611 The revised Direct Taxes Code consolidates and simplifies direct tax law to broaden the tax base and improve compliance by expanding wealth-tax to all assets, redefining taxable income from house property using gross or presumptive rent, lowering the threshold for taxing indirect transfers of assets while exempting very small shareholdings, introducing an additional tax on large dividend recipients and a top marginal rate for very high incomes, ring-fencing losses from specified investment-linked incentive businesses, rationalising incentives and research deductions, and clarifying GAAR and transition measures including carry-forward of losses and MAT credit. en-us Tue, 01 Apr 2014 12:40:13 +0530 Tue, 01 Apr 2014 12:40:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12611 The revised Direct Taxes Code consolidates and simplifies direct tax law to broaden the tax base and improve compliance by expanding wealth-tax to all assets, redefining taxable income from house property using gross or presumptive rent, lowering the threshold for taxing indirect transfers of assets while exempting very small shareholdings, introducing an additional tax on large dividend recipients and a top marginal rate for very high incomes, ring-fencing losses from specified investment-linked incentive businesses, rationalising incentives and research deductions, and clarifying GAAR and transition measures including carry-forward of losses and MAT credit. News - Tue, 01 Apr 2014 12:40:13 +0530 https://www.taxtmi.com/news?id=12611