Draft Direct Taxes Code to be released tomorrow

"The government is taking a major step forward in direct tax reforms by formulating a new Direct Taxes Code, to be put in public domain tomorrow," Finance Minister Pranab Mukherjee said while addressing a conference of Chief Commissioners and Directors General of Income Tax here on Tuesday.

"The best practices in the world have been studied and incorporated. Tax policies that would promote growth with equity have been reflected in the new provisions," Mukherjee said.