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Tuesday 27 October 2015

Committee to simplify provisions of the Income Tax Act set up with tenure of one year under the Chairmanship of Justice R.V. Easwar(Retd). Two Chartered Accountants Mukesh Patel and Vinod Jain are also part of the committee. Committee aims to identify the provisions which are leading to litigation due to different interpretations, provisions which aim at ease of doing business, identify the areas of simplification in light of existing jurisprudence. To suggest alternatives to the areas to bring certainty in tax laws.Sub Groups can be formed by the committee. First batch of recommendations to be received till 31-01-2016.


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