CBDT forms internal committee to oversee comprehensive review of I-T Act
This is in pursuance of the announcement in the Union Budget 2024-25 by Union Finance Minister Nirmala Sitharaman.
The Union Budget 2017-18 focuses on increasing tax compliance while at the same time safeguarding the honest tax payers from any harassment, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said on Monday.
"The budget this year focuses on the clarity and certainty of the tax laws, while at the same time endeavouring to make the country more tax compliant and to honour the honest taxpayers," Chandra said in the keynote address at the post-Budget interactive session organised here by Confederation of Indian Industry (CII).
"The focus areas are expansion of tax base and saving the genuine tax payers from any harassment from the taxman", he added.
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Emphasising on the policy and direction of the Budget, he said that the government would come up with any clarification that might be called for on any of the newly introduced legislations, such as general anti-avoidance rule (GAAR) and place of effective management (POEM).
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