When was the Direct Tax Code Bill introduced in the Parliament of India?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 2010.
The Direct Tax Code (DTC) Bill was introduced in the Parliament of India on August 30, 2010, to replace the Income Tax Act, 1961 and simplify direct taxation. However, it was never enacted and was eventually scrapped in 2014.
Other Information:
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Earlier Versions – A draft was released in 2009, but revisions led to the 2010 introduction.
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Replacement by New Laws – The government chose to amend existing tax laws instead of implementing the DTC.