The Union Budget to be presented on Monday may not go the whole hog on income-tax law simplification front.
This is because the Centre-appointed income-tax simplification committee headed by Justice R V Easwar is yet to submit its final report to the Government, official sources said.
This expert panel had in its first draft -- made public in January -- made several recommendations to simplify the income-tax law, including doubling the turnover limit for presumptive income scheme and rationalisation of the threshold and reduction of TDS rates.
This panel had also suggested that non-residents be allowed to furnish their tax identification number or any other unique number from their resident company in lieu of PAN to avoid being subjected to tax deduction at source at higher rate.
The Justice Easwar headed panel was set up in October 2015 to suggest measures for simplification of income-tax law. This panel has a tenure of one year from the date of its constitution.