New Direct Tax of India : Tax Force time extended for 3 months

By | May 22, 2018
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(Last Updated On: May 22, 2018)
A Task Force consisted of 6 members was constituted by Govt., dated 22-11-2017, in order to review the existing Income-tax Act, 1961. Task Force was required to submit its report to Government within 6 months from date of its constitution. The said term has now been extended by CBDT by another three months. Task force will now require to submit its report by August 22, 2018 instead of May 22, 2018.
F No 370149/230/2017
Government of Indio
Ministry of Finance
Deportment of Revenue
Central Boord of Direct Taxes
(TPL Division)
New Delhi, dated 22nd May, 2018
In order to review the existing Income-tax Act, 1961 and to draft a new direct tax
law in consonance with economic needs of the country, a Task Force has been
constituted by the Government of India vide Office Order of even number dated 22nd
November, 2017, the Terms of Reference being drafting an appropriate direct tax
legislation keeping in view:
(i) the direct tax system prevalent in various countries,
(ii) the international best practices.
(iii) the economic needs of the country and
(iv) any other matter connected there to.
2. As per the said Order, the Task Force is required to submit its report to the
Government within six months from the date of its constitution, i.e., 22nd May, 2018.
3. The term of the Task Force is extended by three months beyond the initial term of
six months, i.e., the Task Force shall now be required to submit its report to the
Government by 22nd August, 2018.
4. This issues with the approval of the Finance Minister.
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