Indian government reviews Income Tax Act for simplification, litigation reduction, and updates.

The Indian government is reviewing the Income Tax Act of 1961 to simplify its language, reduce litigation, and eliminate outdated provisions. The Central Board of Direct Taxes invites public feedback through an e-filing portal, with suggestions categorized under simplification, litigation reduction, compliance reduction, and obsolete provisions. This initiative, announced in the 2024-25 budget, aims to complete the review within six months, potentially updating the Act by early 2025.

October 07, 2024
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