Direct Tax Panel

Panel headed by V K Gupta to simplify decades-old direct tax laws

More than 90 sections seen redundant; panel in line with Budget promise of comprehensive review

House panel flags poor placements, under-utilisation of funds in PMKVY 3.0

The committee is particularly concerned about the third edition of the scheme, as placement figures fall below 10%

Direct tax collection sees dismal growth; mid-August mop-up growth under 5%

The collections had shot up that year because people regularised their unaccounted income by paying higher levies

Direct tax committee calls for major changes to reassessment rules

The panel had also incorporated some suggestions of the previous Arbind Modi committee

Finance ministry to recast direct tax panel after discord on suggestions

The government set up the panel in November last year to review the decades-old Income Tax Act and to draft a new Direct Tax Law