Tax laws made complicated by exemptions, need to be simplified: Tarun Bajaj

Revenue Secy says govt wanted a stable and predictable tax regime, so very little tinkering was done in the Union Budget

There is a need to simplify direct tax laws as various carve outs or exemptions announced every year have made them complicated, Revenue Secretary Tarun Bajaj said.

“The direct tax code has also become more complicated, lot of exemptions, lot of provisions have come so I think there needs to a complete relook of those carve outs that we do every year, it makes it very complicated to understand even for tax experts, what to talk of the ordinary people,” Bajaj said at a webinar organised by the Bengal Chamber of Commerce and Industry (BCCI).

The government wanted a stable