Task force was formed to review the Income-tax Act, 1961
The task force headed by Akhilesh Ranjan constituted by the Government to draft New Direct Tax Law has submitted its report to the Union Minister of Finance and Corporate Affairs Nirmala Sitharaman.In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government of India in November 2017.
In partial modification of the earlier order, the Government had appointed Akhilesh Ranjan, Member (Legislation), CBDT as Convenor of the Task Force.
The Task Force had to submit its report to the Government by 28 February 2019, which received multiple extensions to submit report.
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