Task force to draft new direct tax law

Arbind Modi, member (legislation) of the Central Board of Direct Taxes (CBDT), is convenor of the task force

The government has brought back the main author of the now junked Direct Taxes Code (DTC) as a convenor of the task force to review the decades-old provisions of the Income-Tax Act and draft a replacement. The government has, however, already implemented many provisions of the draft DTC, such as the General Anti-Avoidance Rules (GAAR) and on Place of Effective Management.

The government has constituted a six-member panel to take forward Prime Minister Narendra Modi’s call for replacing the I-T Act, a week after it notified an overhaul of the goods and services tax (GST). The panel has been asked to