Quick Summary
The Minister of State for Finance Pankaj Chaudhary informed Parliament on Monday that the government has undertaken multiple steps tosimplify income tax laws, reduce ambiguity and minimise litigation. Responding to a parliamentary question, the minister said that a comprehensive review of the Incom
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The government has reviewed the Income Tax Act, 1961, to make its provisions clearer, more concise, and easier to interpret, using simpler language and structured formats.
Key legal terms that have already been interpreted by courts are being retained, and amendments are made after extensive consultations with stakeholders.
A new rule-based automated system is proposed to electronically issue certificates for lower or nil TDS, eliminating the need for manual applications.
Measures include periodic reviews of tax laws, stakeholder consultations, explanatory notes, and regular clarifications issued by tax authorities.
No, the government clarified that specific data on ambiguity-related disputes or legal challenges faced by taxpayers has not been maintained since 2020.
CAclubindia
