Скачать или смотреть Goodbye Income Tax Act 1961 Welcome to Direct Tax Code 2025

The Direct Tax Code (DTC) 2025 is a proposed reform aimed at replacing the Income Tax Act, 1961, to simplify and modernize India’s tax structure. However, as of now, the DTC has not been implemented, and the Income Tax Act, 1961, continues to govern direct tax matters in India.

Key Objectives of the Proposed DTC 2025:
Simplification of Tax Laws:
Replacing complex provisions of the Income Tax Act with clear, concise, and modern language.
Rationalization of Tax Rates:
Proposals include revised tax slabs, lower corporate taxes, and incentives for compliance.
Improved Compliance:
Leveraging technology and reforms to encourage voluntary tax compliance and reduce litigation.
Broadened Tax Base:
Bringing more entities under the tax net, potentially including measures to curb tax evasion.
Why Replace the Income Tax Act, 1961?
Outdated Provisions:
The Income Tax Act, enacted in 1961, has been amended numerous times, making it complex and cumbersome.
Economic Changes:
India’s economic environment has evolved, requiring tax laws that reflect modern realities.
Global Alignment:
Aligning India's tax framework with international best practices.
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