A new panel under the chairmanship of Vijay Kelkar, adviser to finance minister Jaswant Singh, has been set up to simplify direct tax laws with a view to curtailing exemptions, correcting anomalies, improving equity/taxpayer service, reducing compliance costs and facilitating compliance.
The work assigned is stupendous, but the task force has been asked to submit by December 15 its recommendations for being implemented through the 2003-04 Budget.
It
