New direct tax code panel report to overhaul I-T Act delayed by 15 days

This is the second extension for the taskforce under the CBDT member Akhilesh Ranjan

The much-anticipated report on the new direct tax code (DTC) to overhaul and simplify the 58-year-old Income Tax Act has been pushed back by a fortnight. The taskforce, set to submit the report on July 31, was handed a 15-day extension at the last minute to incorporate views of the new members, said the official statement.

“The government has allowed the task force to submit its report by August 16, in light of the fact that the new members… requested for more time to provide further inputs,” the government said in a release.

The government had last month expanded the scope of