Income Tax

CBDT further extends term of Task Force to draft a new direct tax law to July 31, 2019

CBDT further extends term of Task Force to draft a new direct tax law by a period of two months to submit its report by July 31, 2019

F No 370149/230/2017- Part (3)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes (TPL Division)
******

New Delhi. May 27.2019

OFFICE ORDER

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. the Government had constituted a Task Force vide Office Order in F No 370149/230/2017 dated November 22, 2017. the Terms of Reference being drafting an appropriate direct tax legislation keeping in view:

(i) the direct tax system prevalent in various

(ii) the international best

(iii) the economic needs of the and

(iv) any other matter connected there

2. The Task Force has since been reconstituted under Shri Akhilesh Member  Legislation). CBDT vide Office Order in F No 370149/230/2017 dated November 26. 2018, other terms and conditions of the Office Order dated November 22, 2017  remaining  the  same except that the Task Force was authorised to co-opt any person as Member. if considered necessary. Accordingly, Ms Pragya S Saksena IRS 87004, Principal Commissioner of Income-tax (OSD), New Delhi has been co-opted as Member vide office order of even number dated December, 21, 2018.

3. As per the Order dated November 2018. the Task Force so reconstituted was required to submit its report to the Government by February 28. 2019. Vide Office Order of in F No 370149/230/2017 dated February 28. 2019, the term of the Task Force has been extended by a period of three months. i.e.. the Task Force is required to submit its report by May 31. 2019.

4. The term of the Task Force is extended by a period of two i.e.. the Task Force may be allowed to submit its report by July 31, 2019.

5. This issues with the approval of the Finance

(Niraj Kumar)
Joint Commissioner of Income-tax (OSD) (TPL)-1
Tel: 011-2309 5468
E-mail: niraj.kumar82@nic.in

Copy to:

(i) The Convener and Members of the Task Force
(ii) PS to FM/ PS to MoS (Finance)
(iii) Sr PPS to Revenue Secretary
(iv) PS to Chairman (CBDT)
(v) The JS (Revenue). DoR
(vi) All officers in TPL & TPRU

JCIT (OSD) (TPL)-1

Share

Recent Posts

  • GST

Extension of time limit for furnishing GSTR 3B under Delhi GST Act 2017

Extension of time limit for furnishing GSTR 3B under Delhi GST Act 2017 Department of Trade and Taxes(Policy and Research…

1 hour ago
  • ICAI

Audit Fee to be received only by digital modes/banking channels -ICAI revises Ethics

Acceptance of Audit Fee only through digital modes or banking channels from 01.04.2026 – ICAI revises Code of Ethics  In…

8 hours ago
  • Service Tax

Demand set aside as assessee for period covered had discharged tax liability under SVLDRS

High Court sets aside demand notices in respect of a period, for which the assessee had discharged tax liability under…

16 hours ago
  • Income Tax

No addition u/s 68 when there is no fresh receipt of unsecured loans during the year

Addition u/s 68 can not be made applicable where there is no fresh receipt of unsecured loans at all during…

19 hours ago
  • Income Tax

Taxes on sales comprising in turnover to be excluded for estimating net profit

Amount of taxes on sales comprising in turnover to be excluded while computing gross receipts for estimating net profit -…

2 days ago
  • Income Tax

Capital contribution deposited in assessee’s bank not partnership firm – Addition 69A upheld

Addition u/s 69A confirmed as alleged capital contribution by partners was deposited in bank account of assessee not in account…

2 days ago