Quick Summary
CBDT forms internal committee to comprehensively review Income-tax Act and invites suggestions from stakeholders/experts/public on the Income Tax e-filing portal In pursuance of the announcement in the Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman,
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FAQ :
An internal committee formed by the Central Board of Direct Taxes (CBDT) is reviewing the Income Tax Act, 1961.
The goal is to make the Income Tax Act more concise, clear, and easier to understand, which should reduce disputes and litigation, and provide greater tax certainty.
Public input and suggestions can be submitted via a dedicated webpage on the e-filing portal.
Suggestions are invited in four categories: Simplification of Language, Litigation Reduction, Compliance Reduction, and Redundant/Obsolete Provisions.
The webpage can be accessed at https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review.
Suggestions should specify the relevant provision of the Income-tax Act, 1961 or Income-tax Rules, 1962 (including section, sub-section, clause, rule, sub-rule, or form number) to which the suggestion relates.
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