DTC to be implemented from April 2013 DTC will replace the existing Indian Income Tax Act 1961

India will implement the direct tax code (DTC) from April 1, 2013, Finance Secretary R.S. Gujral told a television channel.

The code, which will replace existing Indian Income Tax Act 1961, 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.