CBDT grants three months to task force on DTC
BY TIOL News Service
NEW DELHI, MAY 22, 2018: THE Task Force appointed by the Government to present its feasibility report on the proposed law for direct taxes in India, has been given an extension of three month's time to do so. While it was to present its report today, it will now be doing so till August 22, 2018.
In order to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic needs of the country a Task Force has been constituted by the Government of India vide Office Order of even number dated November 22, 2017, the Terms of Reference being drafting an appropriate direct tax legislation keeping in view several factors, such as the direct tax system prevalent in various countries, the international best practices and the economic needs of the country.
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