Govt to come out with modified DTC Bill

New Delhi, Jan 31 (PTI) The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance, which among things had suggested raising annual income tax exemption limit to Rs 3 lakh.

"Will come out with modified DTC (Bill) in response to Standing Committee suggestions," said Advisor to the Finance Minister Parthasarathi Shome at a FICCI event here.

Short Term Capital Gain on equity share may be abolished

The finance ministry is planning to scrap the tax on short-term capital gains arising from the sale of shares and the units of equity-oriented mutual funds. Top finance ministry officials said a decision on the issue is likely to be taken before next month’s budget.

CBDT issued increment order for promotion in same grade pay

The long pending demand of the employees was agreed by Govt. at last. One increment @3% has been ordered by DOPT on 7th Januaty. Most surprisingly, CBDT acted fast and issued it's own order yesterday.
View the CBDT Order