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Extension Of Time Of "Task Force" For Drafting A New Direct Tax Legislation

May 22, 2018: A Task Force was constituted by the Government in November, 2017 to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic needs of the country.

It was required to submit its report to the Government within six months.

The Government has extended the term of said Task Force by a period of three months.

Source: Central Board of Direct Taxes (CBDT)

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