“Will Six Decades Income Tax Review Within Six Months?”

Shalini Lakkapla

doi:10.36948/ijfmr.2025.v07i04.52009

“Will Six Decades Income Tax Review Within Six Months?”

Author(s)	Ms. Shalini Lakkapla
Country	India
Abstract	Government needs a money to run the economy and to make an expenditure on society. Such money pooled by government majorly by the way of levy and collection of taxes. To execute such function these is a greater need of proper and clear administrative law. In India such operation is executing by CBDT and CBIC. Entire direct tax laws are managed and controlled by CBDT through the act of Indian income tax act 1961 which is a six decades old act came into picture with a respective rule prescribed under income tax rules 1962. As time passed act modified various amendments and also some rules executing in current period also with outdated looks. Such outdated and blurred clauses or rules creating a complexity for the tax payer in this updated as well as in dynamic environment. Later it also ultimately leads to decrease the compliance level by them. Hence by looking at the present scenario government of India in discussion with CBDT come up with a conclusion to review the act in a simpler, lucid manner in order to increase a compliance level by the taxpayer and to increase the revenue to the government as well. Such work of review will be completing within the time frame of six months and such newly amended income tax act official announcement is targeted in union budget 2025 February by financial minister.
Keywords	Review of IT act, CBDT committee, Review report, Time frame to review, Sunset clause, Need for review, working progress on review.
Published In	Volume 7, Issue 4, July-August 2025
Published On	2025-07-25
DOI	https://doi.org/10.36948/ijfmr.2025.v07i04.52009
Short DOI	https://doi.org/g9vpw5

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“Will Six Decades Income Tax Review Within Six Months?”

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