By TIOL News Service

NEW DELHI, NOV 22, 2017: AFTER historic indirect tax reform in the form of GST, the Modi Government has trained its eyes towards income tax reform. Having junked the UPA Govt's DTC Bill, it has interestingly set up a Committee with Arbind Modi as its Convener who was incidentally closely associated with the junked DTC Draft Report also.

And the terms of reference are:

(i) The direct tax system prevalent in various countries,

(ii) The international best practices,

(iii) The economic needs of the country and

(iv) Any other matter connected thereto.

And the Members are -

(i) Shri Arbind Modi, Member (Legislation), CBDT - Convener

(ii) Shri Girish Ahuja, practicing Chartered Accountant and non-official Director, State Bank of India;

(iii) Shri Rajiv Memani, Chairman & Regional Managing Partner of E&Y;

(iv) Shri Mukesh Patel, Practicing Tax Advocate, Ahmedabad;

(v) Ms. Mansi Kedia, Consultant, ICRIER, New Delhi;

(vi) Shri G.C. Srivastava, Retd. IRS (1971 Batch) and Advocate.

Dr. Arvind Subramanian, Chief Economic Adviser (CEA) will be a permanent Special Invitee in the Task Force.