Expect a change in mindset from the government side on direct tax code, says I-Sec PD's A Prasanna

The Direct Taxes Code (DTC) panel has submitted its recommendations to finance minister (FM) Nirmala Sitharaman. Sources say the panel has proposed a big tax relief for middle class as well as for corporates. For the middle class individuals earning up to Rs 50 lakh. It has also proposed 25 percent corporate tax rate for both domestic and foreign companies as well no dividend distribution tax (DDT) on companies only on individuals and abolition of minimum alternate tax (MAT). A Prasanna, chief economist at I-Sec PD and Kavita Rao of NIPFP shared their views and outlook.