By TIOL News Service

NEW DELHI, MAR 18, 2024: THE Income Tax Bill, 2025 has been introduced in Parliament and is currently under examination by the Select Committee for detailed consideration. The CBDT has invited suggestions from all stakeholders on the provisions of the Bill and also the rules.

In alignment with the comprehensive review of the Income-tax Act, 1961, an effort is underway to collect inputs and work on simplification of the associated Income Tax Rules and Forms. The objective of this initiative is to enhance clarity, reduce the compliance burden, and eliminate obsolete rules, making tax processes more accessible for taxpayers and other stakeholders. Additionally, streamlining the Rules and Forms aims to simplify tax compliance, improve taxpayer comprehension and ease of filing, lower administrative burdens and errors, and enhance transparency and efficiency.

As part of a wider consultative process, the committee formed to review the Rules and Forms invites inputs and suggestions from stakeholders in the following four categories:

1. Simplification of Language

2. Reduction of Litigation

3. Reduction of Compliance Burden

4. Identification of Redundant/Obsolete Rules and Forms

To facilitate this, a utility has been launched on the e-filing portal, which can be accessed through the following link:

https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review

The above link is live and accessible to all stakeholders from 08.03.2025 on the e-filing portal. Stakeholders can submit their inputs by entering their name and mobile number, followed by an OTP-based validation process.

All suggestions should clearly specify the relevant provision of the Income-tax Rules, 1962 (including the specific section, sub-section, clause, rule, sub-rule, or form number) to which the recommendation pertains under the aforementioned four categories.