Union Government constitutes Task Force for drafting New Direct Tax Legislation

Nov 23, 2017 16:25 IST
Union Government constitutes Task Force for drafting New Direct Tax Legislation

The Union Government on 22 November 2017 constituted a Task Force to review Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with economic needs of the country.

Arbind Modi, Member (Legislation) of CBDT, will be the Convener of the task force.

The other members of the task force are:
• Girish Ahuja, non-official Director of State Bank of India
• Rajiv Memani, Chairman & Regional Managing Partner of E&Y
• Mukesh Patel, Practicing Tax Advocate, Ahmedabad
• Mansi Kedia, Consultant, ICRIER, New Delhi
• G.C. Srivastava, Retd IRS (1971 Batch) and Advocate

CA eBook

Besides, Chief Economic Adviser (CEA) Arvind Subramanian will be a permanent Special Invitee in the Task Force.

The task force will draft an appropriate Direct Tax Legislation keeping in view the direct tax system prevalent in various countries, international best practices and economic needs of the country.

The Task Force will set its own procedures for regulating its work and will submit its report to the Government within six months.

Is this article important for exams ? Yes2 People Agreed
Read more Current Affairs on: Task Force , New Direct Tax Legislation , Income-tax Act , 1961

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK