期刊名称：International Journal of Management and Business Studies
印刷版ISSN：2231-2463
电子版ISSN：2230-9519
出版年度：2012
卷号：2
期号：2
出版社：Cosmic Journals
摘要：The New Direct Tax Co de which was said t o be introduced from the financial year, 2012-13 replacing the five decade old Income tax Act,1961 has the objective to make the Indian tax structure straightforward. The Income Tax Act 1961 has become very complex and virtually unintelligible to the common man by virtue of a compli cated structure, numerou s amendments, frequent policy changes and a multitude of judgments that gave varying interpretations to already undecipherable provisions. This complexity has not only increased the cost of compliance for the average tax payer, but also made it costly for the administration to collect tax. For the replacement o f In come Tax 1961, the new Direct Tax Code which is completely new gives moderate relief to tax payers, reduce unnecessary exemptions and improve compliance for improving collections. The tax payers themselves can compute and file Income Tax Returns without the help of experts. This paper highlights the overview of the Direct Taxes Code in a nutshell
