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Simplification Main Focus for Panel Set up to Redraft Direct Tax Laws
December 21, 2018
Akhilesh Ranjan, who is a member of the Central Board of Direct Taxes (CBDT) and also the one who is heading the panel tasked with the redrafting of income tax laws said that the focus is on simplification of the existing laws. He said that the panel will try to simplify the language used in the direct tax laws and encourage compliance and tax certainty.
Ranjan said that tax laws should be easily understandable but the reality is that in some areas, the language is problematic. He has been appointed to head a panel tasked with the revision of the 50-year old Income Tax Act and asked to submit the report before March 1, 2019.
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