October 27, 2015 7:12 PM

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Government sets up panel to simplify Income Tax laws

The government has set up a committee to simplify the provisions of the Income tax Act. A press release issued by finance ministry said the committee will study and identify the provisions in the Act which are leading to litigation due to different interpretations. <br/><br/>The committee will look into the areas and provisions of the Act for simplification in the light of the existing jurisprudence and suggest alternatives and modifications to bring about predictability and certainty in tax laws without substantial impact on the tax base and revenue collection. The committee have nine members, which will be headed by retired Delhi High court Judge, Justice R.V. Easwar.

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