Unnecessary provisions will be removed from the Income Tax Act, now it will be easier for common people

Income Tax Act: The Central Government is working towards simplifying the Income Tax Act by making changes in it. The internal committee of the Central Board of Direct Taxes (CBDT) formed for this is studying every point closely and preparations are being made to remove unnecessary provisions. Along with this, suggestions have also been sought from the common people to simplify the Income Tax Act. They are being asked what problems they face under the existing law and how they can be solved.

In the general budget for the financial year 2024-25, Finance Minister Nirmala Sitharaman had announced to simplify the Income Tax Act by making changes to it, for which a time limit of six months was also fixed. Under this sequence, the CBDT committee is now working on changes in the law. Sources say that preparations are going on for changes on a large scale. All such provisions which are not necessary will be removed. It is believed that by February next year, the amendment related to the change will be approved on the basis of the committee's suggestion.

You can also suggest

You can also give your suggestions regarding changes in the Income Tax Act. The Income Tax Department portal is open for this. Income taxpayers and common citizens wishing to give suggestions can give their suggestions online by clicking on https//eportal.incometax.gov.in. Suggestions can be given mainly in four categories. These include simplification of language, reduction in litigation, removal of unnecessary matters and obsolete provisions. The portal is open for suggestions from October 8.

Taxpayers want freedom from lengthy legal process

It is being told that most of the suggestions received so far are related to simplification of language and reducing long legal battles. Actually, there are many tax demand cases pending in the Income Tax Department, which have been going on for years. In such cases, the amount of tax demand is also limited, but to resolve them, a long process has to be adopted as per the existing law. Taxpayers want that the process of disposal of such cases should be limited. After inviting suggestions, the committee will prepare its report.