CBDT FORMS INTERNAL COMMITTEE
The Central Board of Direct Taxes (CBDT) has formed an internal committee to comprehensively review the Income-tax Act, 1961. The committee will examine the entire Act and suggest amendments to make it more taxpayer-friendly, effective, and aligned with the current economic landscape.
In addition to the review of the Income-tax Act, the CBDT has also invited suggestions from taxpayers on the tax e-filing portal. The board is keen on improving the user experience and making the portal more efficient and user-friendly.
The Central Board of Direct Taxes (CBDT) has established an internal committee to supervise an extensive review of the Income-tax Act, 1961 (Act), following the announcement made in the Union Budget 2024–25 on July 23 by the finance minister Nirmala Sitharaman.
According to a Press Information Bureau (PIB) release issued on October 7, 2024: The committee invites public inputs and suggestions in four categories:
- Simplification of Language
- Litigation Reduction
- Compliance Reduction, and
- Redundant/Obsolete Provisions
How to suggest changes to income tax Act
Visit the page: https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review . Enter name and mobile number followed up by a validation via OTP. The link is active from October 6, 2024.
The CBDT has not provided a timeline for the completion of the review process. However, it is expected that the committee will submit its recommendations to the government in the coming months.
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