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Union Government constituted RV Easwar Committee to simplify The Income Tax Act, 1961

Oct 28, 2015 13:11 IST

The Union Government on 27 October 2015 constituted RV Easwar Committee with a view to simplify the provisions of the Income Tax Act, 1961. The committee will be headed by Justice RV Easwar (Retd.), former Judge of Delhi High Court and former President of ITAT.

The members of the committee are VK Bhasin, Vinod Jain, Rajiv Memani, Ravi Gupta, Mukesh Patel, Ajay Bahl, Pradip P. Shah, Arvind Modi and Dr. Vinay Kumar Singh.

Terms of Reference (ToR) of the Committee
• To study and identify the provisions/phrases in the Act which are leading to litigation due to different interpretations;
• To study and identify the provisions which are impacting the ease of doing business;
• To study and identify the areas and provisions of the Act for simplification in the light of the existing jurisprudence;
• To suggest alternatives and modifications to the existing provisions and areas so identified to bring about predictability and certainty in tax laws without substantial impact on the tax base and revenue collection
• The Committee shall set its own procedures for regulating its work.  
• It can also work in Sub-Groups and the draft prepared by the Sub-Groups can then be approved by the whole Committee.
• It will put its draft recommendations in the public domain. After stakeholder consultations, the Committee will formalise its recommendations. The Committee can give its recommendations in batches.
• The Term of the Committee shall be for a period of one year from the date of its constitution.

The First Batch containing recommendations of committee is expected to be out by 31 January 2016.

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