Govt constitutes panel to redraft 50-year-old income tax law
The government on Wednesday constituted a task force for redrafting the over 50-year-old income tax law, keeping in view the economic needs of the country. It will have Arbind Mody, CBDT Member (Legislation) as the Convener. The panel, which will have CEA Arvind Subramanian as a permanent special invitee, will submit its report to the government within 6 months.