PM Modi looks to address new-age issues in I-T Act, finance ministry sets new terms of reference of task force
Updated : June 26, 2019 08:28 PM IST
The aim of the task forceĀ is to reform complex income tax laws into simpler tax codes with reduced rates, fewer exemptions and tax slabs.
Once the draft report is ready, it will be put up for public suggestions to address the concerns of all stakeholders.
The task force to draft the new law that replaces the decades-old Income Tax Act on May 26 got a two-month extension and is now scheduled to submit its report by July.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more