Comments
The Union Budget to be presented on Monday may not go the whole hog on the income-tax law simplification front.
This is because the Centre-appointed income tax simplification committee headed by Justice RV Easwar is yet to submit its final report, official sources said.
In its first draft — made public in January — the expert panel had 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.
Higher TDS The 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 TDS at a higher rate. The Justice Easwar panel was set up in October 2015 to suggest measures for simplification of income-tax law.
It has a tenure of one year from the date of its constitution.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.