Government is about to implement Direct Tax code. Revised draft of DTC is posted on finance ministry website today. As per new DTC draft exemption limit at Rs 2 lakh is kept as it is and forth slab is introduced for super rich. Draft said tax the super rich heavily. Proposal is new tax slab of 35% for income exceeding Rs 10 crore.In our earlier post we have debated a lot on taxing super rich at higher rate.
The DTC Committee had proposed following:-
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