Govt seeks public comments for income tax law revamp

Quick Summary:

The government-formed committee is seeking public suggestions to simplify the 63-year-old Income Tax Act by focusing on language clarity, reducing litigation, easing compliance, and identifying obsolete provisions.

Feedback will help shape the committee's recommendations, possibly influencing the upcoming budget.

The committee’s recommendations are also expected to be discussed widely and public comments may be sought.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: India

Topics: Central Board of Direct Taxes Tax law revamp Nirmala Sitharaman Income Tax Act Public comments

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-08 @ 02:00:48 (3 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 455 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22930843

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