An interactive workshop on the Direct Tax Code, 2010 (DTC) was organized for member companies with knowledge partner PricewaterhouseCoopers at Mumbai in association with Bharat Petroleum Corporation Ltd. on October 27, 2010.

Chairing the session, Mr. S. Varadarajan, Executive Director (Corporate Finance), BPCL highlighted the fact that provisions of DTC, 2010 should not be viewed in comparison with the Income Tax Act 1961.  The DTC, which was tabled in parliament on 30th August, 2010 for debate and discussion, is proposed to be effective from April 01, 2012.

A detailed presentation on DTC was made by Mr. Rahul Garg, Direct Tax Leader and Executive Director, PwC.  He particularly highlighted the issues pertaining to the oil & gas sector.

Earlier Mr. S.S. Ramgarhia, Director (Policy & Planning), PetroFed welcomed the participants and pointed out that the oil & Gas industry response on the paper circulated for discussion by Government had been submitted by PetroFed.

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