The taxpayer's life could become simpler. The Direct Taxes Code (DTC), which will be tabled in Parliament on Monday, has hiked the basic exemption limit for them. Though the tax rate slabs have been retained, the income levels for which they will be applicable has been reduced considerably.
Text: Homi Mistry and Pallavi Damecha, Business Standard
Images courtesy: Reuters / AP / AFP
Also see: New Direct Tax Code: Has it lost its original benefits? | Tax special