Tag: Income Tax Act

New Delhi/Bhubaneswar: The existing Income Tax Act may soon be replaced by a new direct tax law. Arbind Modi, the person who helped to draft the Direct Tax Code 2009, was given the task again on Thursday to draft a new law to meet the contemporary economic needs of the country. The six-member taskforce led […]

New Delhi: A task force for redrafting the Indian Income Tax Act, 1961, to bring it in tune with the current economic needs and realities, was set up by the government on Wednesday, an official statement said. The six-member task force will have Central Board of Direct Taxes’ Member, Legislation, Arbind Modi as the Convener, […]