F No 370149/230/2017
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, dated 22nd May, 2018
In order to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic needs of the country, a Task Force has been constituted by the Government of India vide Office Order of even number dated 22nd November, 2017, the Terms of Reference being drafting an appropriate direct tax legislation keeping in view:
(i) the direct tax system prevalent in various countries,
(ii) the international best practices.
(iii) the economic needs of the country and
(iv) any other matter connected there to.
2. As per the said Order, the Task Force is required to submit its report to the Government within six months from the date of its constitution, i.e., 22nd May, 2018.
3. The term of the Task Force is extended by three months beyond the initial term of six months, i.e., the Task Force shall now be required to submit its report to the Government by 22ndAugust, 2018.
4. This issues with the approval of the Finance Minister.
Under Secretary (TPL)
(i) The Convener and Members of the Task Force
(ii) PS to FM/ PS to MoS (Finance)
(iii) Sr PPS to Finance Secretary
(iv) PS to Chairman (CBDT)
(v) The JS (Revenue), DoR
(vi) All officers in TPL & TPRU
Under Secretary (TPL)-I