A Task Force was constituted by the Government in November, 2017 to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic need s of the country. It was required to submit its report by 31st of July, 2019. The Government has allowed the Task Force to submit its report by 16th of August, 2019, in light of the fact that the new Members of the Task Force requested for more time to provide further inputs.
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