Jaipur: Finance Minister P Chidambaram on Tuesday said official amendments to the DTC Bill, which seeks to overhaul the over 50-year old income tax law, will be introduced in the Monsoon session of Parliament.

The Direct Taxes Code (DTC) bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.

"The report (of the panel) has come. I completed the exercise in the Ministry of Finance. The official amendments are now being drafted. I will introduce the official amendments in the Parliament towards the end of the Monsoon session and then it is for Parliament to pass it," Chidambaram said.

"I think we have done our homework and Parliament will pass it," he added. The Monsoon session of Parliament will be held from August 5 to 30. The DTC aims to rationalize tax rates to bring more people and companies under the tax net.

(Agencies)

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