Big News! The Income Tax Act is being replaced by the Direct Tax Code.
Big News! The Income Tax Act is being replaced by the Direct Tax Code.
What is the Direct Tax Code?
What is the Direct Tax Code?
The Direct Tax Code aims to simplify and modernize India’s outdated tax laws.
The Direct Tax Code aims to simplify and modernize India’s outdated tax laws.
Key Changes Coming
Key Changes Coming
Major changes include removal of assessment year, simpler tax rates, and fewer exemptions.
Major changes include removal of assessment year, simpler tax rates, and fewer exemptions.
Impact on Students
Impact on Students
Exams before March 2026 will still follow the Income Tax Act, while exams after will use the Direct Tax Code.
Exams before March 2026 will still follow the Income Tax Act, while exams after will use the Direct Tax Code.
Good News for Salaried Employees
Good News for Salaried Employees
Taxes for salaried employees will be significantly reduced under the Direct Tax Code.
Taxes for salaried employees will be significantly reduced under the Direct Tax Code.
What About TDS?
What About TDS?
TDS will apply to more income types but with lower rates.
TDS will apply to more income types but with lower rates.
Corporate Tax Changes
Corporate Tax Changes
Domestic and foreign companies will now have the same tax rates.
Domestic and foreign companies will now have the same tax rates.
Read Full Details Here
Read Full Details Here
Like, share, and comment what changes you want to see in the Direct Tax Code!
Like, share, and comment what changes you want to see in the Direct Tax Code!