Lack of clarity in I-T law a concern: Deepak Parekh

Parekh says drafting new I-T law is hindered by the lack of experience

Lack of clarity in the income tax and corporation tax laws in the country was a persistent concern, said Deepak S Parekh, chairman, Housing Development Financial Corporation (HDFC), on Monday.

In a chat with journalist Shekhar Gupta, also a Business Standard columnist, at the KS Narayanan Oration 2017, Parekh said drafting a new I-T law was hindered by the lack of experience. “It is a major challenge,” he said.

Parekh also said demonetisation — one of the targets of which was black money — had a laudable objective. “Whether or not it succeeded is anyone’s guess,” he said.

On November