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Union Finance Min extends Task Force term by another quarter

Union Finance Min extends Task Force term by another quarter

Thus the date for sending suggestions and feedback has also been extended.

The central government has given a three month extension to the term of the Task Force constituted to review the existing I-T Act, 1961 and draft a New Direct Tax Law.

Thus the date for sending suggestions and feedback has also been extended.

The stakeholders and masses at large may now send in their suggestions till June 15, 2018.

Union Ministry of Finance has meanwhile put out that the feedback and suggestions can be sent through an email at rewriting-itact@gov.in in the format provided on the website of the Income Tax Department – www.incometaxindia.gov.in.

The Task Force constituted to draft a new Direct Tax Law as per the economic needs of the country was recently granted 3 more months to submit its report.

It was appointed in November 2017 after the government implemented the new indirect tax. It was supposed to submit its report in six months.

Only last week, the government had extended the term of task force till August end. The task force is chaired by Arvind Modi, a member of the Central Board of Direct Taxes.

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