(iStock)
(iStock)

Government gives more time to direct tax code panel to finalise report

  • The panel, which was to submit its report on 31 July, has been granted time till 16 August
  • The government had in June expanded the scope of the task force to include specific measures to cut down litigation and facilitate quick disposal of appeals

New Delhi: The government has granted two weeks more to a panel of experts framing a new draft direct tax code to submit their recommendations, the Central Board of Direct Taxes (CBDT) said on Wedneday.

The panel, which was to submit its report on 31 July, has been granted time till 16 August, the direct tax policy making body said in a statement.

The government had in June expanded the scope of the task force led by CBDT member Akhilesh Ranjan to include specific measures to cut down litigation and facilitate quick disposal of appeals all the way from commissioners within the department to the Supreme Court. Also, two new members, including chief economic adviser in the finance ministry, Krishnamurthy Subramanian, was appointed to the panel.

The extension of the deadline is “in light of the fact that the new members of the task force requested for more time to provide further inputs," according to the statement.

Finance minister Nirmala Sitharaman had said in Parliament earlier in July that the new tax code was a priority and the government would take it up as soon as the task force submitted its report.

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