Pranab says to rollout direct tax code next April: Reports

The government will roll out a long-awaited direct tax code, aimed at simplifying archaic tax laws, on April 1, 2012, television channels reported finance minister Pranab Mukherjee as saying today.

The government will roll out a long-awaited direct tax code, aimed at simplifying archaic tax laws, on April 1, 2012, television channels reported finance minister Pranab Mukherjee as saying on Wednesday.

The code intends to cut tax rates to bring more people and companies under the tax net, phase out profit-linked exemptions for companies and replace them with investment-linked incentives.