(a) whether preparation of a revised and simplified Income Tax Law
has been completed;
(b) if so, the details of the new Income Tax Law;
(c) if not, the reasons for the delay and present status therefor;
(d) whether an attempt has been made in the exercise to encourage
inflow of more investment into the country;
(e) if so, the details thereof; and
(f) if not, the reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF FINANCE:(SHRI S.S. PALANIMANICKAM)
(a)&(b) No Sir. The preparation of a simplified new Income tax Law is
in progress. The new Direct Tax Code will be released along with a
discussion paper by 20th August, 2009.
(c) Does not arise.
(d)to(f) The specific details in this regard would be made
available once the Direct Tax Code is released for public discussion.