Replace Income Tax Act with Direct Taxes Code: Chidambaram in Rajya Sabha

Former finance minister P Chidambaram Monday said that the Income Tax Act must be replaced by Direct Taxes Code, while seeking to know from Finance Minister Nirmala Sitharaman “why 39 amendments were required in the Finance Bill”. The Congress leader said that even after careful perusal, he did not understand the amendments.
---------------------------------------------------------------------------------------------
Join our channel to get access to perks. Click 'JOIN' or follow the link below:
---------------------------------------------------------------------------------------------
Connect with ThePrint

[zil]

I like how politely he presents his case, while being critical. Veteran leaders tend to have these skills but not all...

[maheshadvani]

Well said Mr Chidambaram
We all need to learn to Simplify Income Tax

[Lazylama]

This proposal is actually good. Doesn't matter it is coming from him.. this matter itself is really true that it is required

[abhijeetmakhijani]

This is why we need good opposition. While i may not agree/disagree/understand everything he said, I like the fact that it wasn't some random 70 year rhetoric that goes around so much.

[shubhamjagushte]

He has correctly pointed out the figures that were beefed up against reality. I remember Shekhar Gupta saying "Bad economics is Bad politics". The only reason I believe BJP can be ousted if it has to.

[digbijoychoudhury]

A wonderful analysis, an outstanding analysis by P Chidambaram.
He deserves thanks for his budget analysis and his forewarnings to respected FM, Nirmalaji.
I regret that he could not bring in DTC in his stint as FM.

[itz_thesdk]

Atleast Chidambaram ji, talks about some mature and intelligent suggestions and points out shortcomings in a factual manner unlike the blatant and senselessly blind opposition

[dr.harshamssportsrehab.]

Finance minister now is not even a lkg student infront of Chidambaram ji.

[aditgupta]

What an exhaustive analysis. Good job, P!

[manohar]

PC speech is always a like in class room..what depth a microanalysis which Current FM shud follow from his observations without any bias or ego..

[siddhanti]

For a change, PC- Chiddu is talking sense. I wonder why DTC could not be enacted during so many decades of Cong rule, and So many years of PC as Finance Minister. All the complexities of legalese & bureaucratic jargon by wily Babus of Finance & Law Ministries whose very intention it is to complicate the matters so that CA's and Lawyers are given assured business and employment made compulsory. Modi Govt. must accept the suggestions on DTC, and also de-complicate all legislation. Chiddu's opposition to faceless assessment is to bat for the corrupt ITO's and AO's.

[rachitvsatija]

I am a CA Final aspirant. we know as students how tough it is to cover amendments over amendments every year as a working professional and student. bringing DT code would make things simple and effective to understand for assessee as well as CAs and other tax professionals.

[nagabhushanamaravanthe]

Very matured and sensible advice to the Govt. Opposition leaders should always come with facts and figures like he did it, then only the government of the day will take policies seriously and will be more cautious while throwing figures for public consumption.

[dc]

His criticism sounds healthy, polite and to the point. Parliament should have more such representation.

[alokgupta]

Reminds me of Arun Jaitley. Both were wonderful articulators of complex financial issues.

[venkitarayanramakrishnan]

Makes some sense in what PC has talked and need serious introspection by the Government. He is quite knowledgeable person and he has talked with clarity.

[vvk]

His presentation is excellent 👌. But why they did not cleanup the old tax provisions and implement the direct code.

[vivekvs]

I listen to PC with all my ears. He furnishes facts like, an Advocate arguing his case. India has many socialists but one capitalist.
This debate is a brilliant sandwich. On the outer you will find the bread for the bewildered masses, that's socialism. Inner Core this meaty Capitalism. Brilliant!
Unfortunately, his brilliance comes with corruption.

[thakurvk]

Excellent feedback from Mr P Chidambaram Sir

[mangala]

Very nice presentation unlike a politician.