New Delhi, March 21, 2018
The Central Board of Direct Taxes (CBDT) on Wednesday said that it has constituted a task force to review the Income Tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country, the Ministry of Finance stated in a notification.
To prepare a draft of the new tax laws, CBDT said that it is imperative to engage with stakeholders and general public. The policy-making body of the tax department also stated that suggestions and feedback are invited from the stakeholders and general public in the format provided on the departmental website (www.incometaxindia.gov.in).
[The Times of India]