In pursuance of the announcement in the Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs 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.
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First Published: Oct 07 2024 | 6:08 PM IST
