Multiple choice

The proposed Direct Tax Code will replace archaic

  1. Income Tax Act, 1961

  2. Income Tax Act, 1971

  3. Income Tax Act, 1951

  4. Income Tax Act, 1991
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A Correct answer
Explanation

Once enacted, the DTC will replace archaic Income Tax Act, 1961. However, many provisions in Income Tax Act will be a part of DTC as well.

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