Direct tax law News
Bureaucrats' last stand
The finance minister has apparently made 170 amendments to the Income Tax Act, 1961 in the latest Budget. A tax consultant called it the revenge of the bureaucrats because this is the last chance they may get to amend the 50-year-old law. That’s because the direct taxes law could be introduced next year, so “they went all-out this time,” he said at a post-Budget seminar organised
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