SME Times News Bureau | 20 May, 2010
Finance Minister Pranab Mukherjee has said that the
government intends to introduce the Direct Taxes Code in the
forthcoming Monsoon Session of the Parliament.
While addressing the Central Direct Tax Advisory Committee in New Delhi on Wednesday,
Mukherjee said that he had identified nine core areas of concern
expressed by various stakeholders. He said that all these concerns have
been taken into consideration while redrafting the Code. He revealed
that the code will soon be put in the public domain.
The Finance
Minister also stated that two more Centralized Processing Centers (CPC)
will be set up during the current year. The first one at Bengaluru has
enabled faster processing of tax returns and better records management.
He
also said hat the Refund Banker Scheme will be extended to more cities
this year. The scheme enables speedier refunds directly to the bank
accounts of the tax payers. The scheme had been introduced in nine more
cities last year. It is now available in 15 cities.
The Finance
Minister said that the government has written to 65 countries to make
exchange of information more effective and to remove the secrecy
clause, adding that twenty low or no tax countries have been identified
for negotiating and signing tax information exchange agreement.
