‘DTC Bill may not be tabled this session’

Parthasarathi Shome, Adviser to the Finance Minister , on Saturday hinted that the Direct Taxes Code (DTC) bill may not be tabled in the monsoon session of Parliament, as it is still awaiting consensus of the ministries involved. Though he did not rule out the possibility of it being introduced, Shome was in favour of granting ministries due time to study every aspect of the Bill, including rates, procedure and taxpayers’ rights. “My understanding is that the Ministries should be given the required time, since it is very fundamental thing,” Shome told reporters here on the sidelines of a conference organised by Assocham. “From the industry’s perspective, they should see whether the Bill is helping the good tax payer pay the right amount of tax and the cost of compliance is decreasing rightfully,” he said.