Govt to Unveil Revised Direct Tax Code After 6-Month Comprehensive Review: Revenue Secretary

The Indian government is set to unveil a revised Direct Tax Code after a comprehensive six-month review, aiming to simplify the Income Tax Act for better readability and reduced litigation. Revenue Secretary Sanjay Malhotra stated that both introducing a new code and revising the current law are options. Finance Minister Nirmala Sitharaman emphasized the goal of a concise, understandable law. Additionally, capital gains tax rationalization and Section 11A in the GST Act were discussed, focusing on simplification rather than revenue augmentation.