Time for task force to review Income Tax Law 1961 and draft New Direct Tax Law extended

New Delhi, May 29 (KNN) The term of the Task Force constituted to review the existing Income-tax Act, 1961 & to draft a New Direct Tax Law in consonance with economic needs of the country has been extended by 3 months, Ministry of Finance has said.

Earlier, suggestions and ​f​eedback from the stakeholders and the general public were invited through e-mail at rewriting-itact@gov.in latest by April 2, 2018 in the format provided on the departmental website www.incometaxindia.gov.in.

​Since the Term of the Task Force has ​now ​been extended by three months. Accordingly, the date for sending suggestions/ feedback is ​also ​extended up ​to June 15, 2018. (PIB Release)