Experts hope high on direct tax code

New Delhi: With the direct tax code (DTC) being in the works for years and report of the task force expected anytime now, tax experts hope the new draft law would ease compliance burden and reduce future litigations by incorporating orders of various high courts and the Supreme Court while settling the cases.

"Broadly, easing the tax and compliance burden, bringing in simplification and certainty in tax provisions and compliances, and introducing provisions facilitating merger and acquisition (M&A) activity and other restructuring will be the major asks from corporates," said Amrish Shah, Partner, Deloitte India.

Rahul Garg, Senior Partner (Tax & Regulatory), PwC India said that his expectation is that the new DTC would be a modern law which would make tax administration technology enabled. Further, it would make tax governance effective.