"I am hopeful that the Parliamentary Standing Committee will submit its report by Winter Session. And if we can get it through, in the winter session, which most probably would be possible, then there would be no difficulty to bring it into operation from April 1, 2012," he said at a CII event here.

The Direct Taxes Code (DTC) Bill, which was introduced in Parliament last year, proposes to replace the 50-year old Income Tax Act. Mukherjee said since the Bill is still with the Standing Committee, stakeholders have time to give their views.

Source: Economic Times, India,  dated 06/08/2011