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Business EconomyPosted at: Mar 21 2018 7:44PM


CBDT invites suggestions, feedback for drafting of new Direct Tax Law

New Delhi, Mar 21 (UNI) Central Board of Direct Taxes (CBDT) has invited suggestions and feedback from stakeholders and general public in the format provided on the departmental website for the drafting of the new Direct Tax Law.
According to Finance Ministry release, the invitation is a part of endeavour of drafting the new tax law, as it is imperative to engage with stakeholders and general public.
The format can be downloaded from the website and suggestions/ feedback may be sent through e-mail at [email protected] latest by 2nd April, 2018.
A Task Force has been constituted to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country.
“During the Rajaswa Gyan Sangam held in September this year, Prime Minister Narendra Modi had observed that the Income Tax Act, 1961 was drafted more than 50 years ago and needs to be re-drafted. Accordingly, to review the Act and to draft a new Direct Tax Law in consonance with economic needs of the country, the government had constituted the task force.
The new legislation will be drafted keeping in mind the direct tax system in other countries, international best practices and the economic needs of the country.
UNI ADP SHK 1943
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Tags: #CBDT invites suggestions# feedback for drafting of new Direct Tax Law
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