International Journal For Multidisciplinary Research

E-ISSN: 2582-2160     Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 7, Issue 4 (July-August 2025) Submit your research before last 3 days of August to publish your research paper in the issue of July-August.

“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 As time passed act modified various amendments and also some rules executing in current period also with outdated looks. Such outdated and blurred clauses or rules creating a complexity for the tax payer in this updated as well as in dynamic environment.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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