New Delhi: The Central Board of Direct Taxes (CBDT) has formed an internal committee to comprehensively review Income-tax Act and invites suggestions from stakeholders/experts/public on the Income Tax e-filing portal.
“In pursuance of the announcement in the Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the Central Board of Direct Taxes (CBDT) has formed an internal committee to oversee a comprehensive review of the Income-tax Act, 1961 (Act). The goal is to make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers,” said the Ministry of Finance in a release.
The committee invites public inputs and suggestions in four categories:
Simplification of Language
Litigation Reduction
Compliance Reduction, and
Redundant/Obsolete Provisions
To facilitate this, a webpage has been launched on the e-filing portal, which can be accessed with the following link: https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review
The above link is live and accessible to the stakeholders/experts/public in the E-filing portal from 06.10.2024. The stakeholders/experts/public can access the page by entering their name and mobile number, followed up by a validation via OTP.
“Suggestions by stakeholders/experts/public should specify the relevant provision of the Income-tax Act, 1961 or Income-tax Rules, 1962 (mentioning the specific section, sub-section, clause, rule, sub-rule, or form number), as the case may be, to which the suggestion relates under the aforementioned four categories,” the release added.
