Direct Tax Code and Income Tax Act 1961 Comparison

Posted: 18 Feb 2011 07:44 PM PST

Comparison between provision of Present income Tax ACT 1961 and proposed Direct tax code S. No. Subject IT Act, 1961 DTC-II Impact (1) (2) (3) (4) (5) (i) Taxation of companies (i) Under this Act, domestic companies are taxable @ 33.90% where income exceeds ` 1 crore. No surcharge @10% is ...

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