TASK FORCE TO REVIEW DIRECT TAX LEGISLATION

About:

• Timeline:
  • Arbind Modi task force: The Government had constituted a Task Force in November 2017 to draft a New Direct Tax Law under the Convenorship of Arbind Modi, the then Member (Legislation), CBDT.
    
    
  • Akhilesh Ranjan task force: However, on superannuation of Arbind Modi, the Task Force was reconstituted in November 2018 under the Convenorship of Akhilesh Ranjan, the then Member (Legislation), CBDT.
    
    
  • The task force is required to submit its report to the Government by February 28, 2019.
    
    
  
  
  
• Terms of reference: Its mandate is to draft an appropriate direct tax legislation keeping in view:
  • the direct tax system prevalent in various countries;
    
    
  • the international best practices;
    
    
  • the economic needs for the country and;
    
    
  • any other matter connected thereto.