Direct Tax Code

Direct Tax Code

Direct Tax Code include all direct taxes like Income Tax, Wealth Tax, etc. Direst Tax are the tax which can not shift to others. On ... 6:12 AM

Direct Tax Code include all direct taxes like Income Tax, Wealth Tax, etc. Direst Tax are the tax which can not shift to others.

On 2005-06 Finance Minister P.Chidambram issued a draft in which various suggestions are given. The final Draft came on 2010. It have many suggestion (proposed).

Budgets always prepare by considering two aspects political as well as economical. Still 2010 DTC is pending. Under this, various suggestions are given which are as follows-

EEE is the existing scheme proposed under DTC.

EEE means- Exempt, Exempt, Exempt

E - Exempt initial or original investment

E ­­­– Exempt interest on initial investment

E – Exempt maturity amount or withdrawl amount

But this EEE scheme is convert into EET if DTC is pass. EEE mean Exempt, Exempt, Taxable.

E -  Exempt initial or original investment

E ­­­– Exempt interest on initial investment

T - Maturity amount is taxable