The deep-rooted structural problems of our tax system cannot be cured by ersatz solutions. A Direct Tax Code to simplify the Income-tax regime has been in the offing since 2010 and was last heard about in 2020, but nothing concrete has emerged. In fact, looking to the changes in the business environment, a Direct Tax Code may no longer be useful. Rather, a comprehensive tax code embodying both Direct and Indirect Tax provisions is required. (Read More)
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