Pay more tax under new code: Jaitley

If you earn between from Rs three lakh to Rs ten lakh annually, your tax burden may actually increase under the new direct tax code, Leader of Opposition Arun Jaitley said on Wednesday.

If you earn between from Rs three lakh to Rs ten lakh annually, your tax burden may actually increase under the new direct tax code, Leader of Opposition Arun Jaitley said on Wednesday.

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Addressing a seminar on the code organised by the Confederation of All India India Traders, the senior BJP leader said, “the direct code ostensibly places the consumers in the income of Rs1.6 lakh to Rs ten lakh in the 10 per cent bracket. This is an illusion.”

Jaitley’s comments are the first response by a senior BJP leader on the code, which was released by Finance Minister Pranab Mukherjee on August 10. The government put up the draft for discussion before it takes the form of law.