CBDT Forms Committee to Review Income Tax Act, Seeks Public Input via e-Filing Portal

The Central Board of Direct Taxes (CBDT) has established a committee to review the Income Tax Act, 1961. The initiative is aligned with the Union Budget 2024-25 announcement, aiming to simplify the law, reduce disputes, and improve compliance. The public can provide suggestions on four key areas: language simplification, litigation reduction, compliance reduction, and identifying obsolete provisions. A dedicated webpage on the e-filing portal has been launched for public input. This review seeks to make tax administration more efficient and taxpayer-friendly, involving stakeholders in the reform process.