The new Indian Direct Taxes Code (DTC) Bill proposed to be introduced from financial year 2012 has created ripples within the professional and business community. From comprehensive general anti-avoidance rules (GAAR), a new controlled foreign corporation framework, shift in the concept of corporate residence and other radical policy changes, the new Code is poised to fundamentally impact the way the world invests in and does business with India. The proposed code is currently being scrutinized by the Indian Parliament. Taking the opportunity to provide comments and recommendations on the new Code, the DTC Global Think Tank convened by Nishith Desai Associates analyses some of its key international dimensions.