{"id":2002,"date":"2019-09-05T13:45:01","date_gmt":"2019-09-05T13:45:01","guid":{"rendered":"https:\/\/www.kanakkupillai.com\/new-learn?p=2002"},"modified":"2026-04-17T11:00:37","modified_gmt":"2026-04-17T05:30:37","slug":"direct-tax-code-from-easier-itr-filing-to-easing-tax-burden","status":"publish","type":"post","link":"https:\/\/www.kanakkupillai.com\/learn\/direct-tax-code-from-easier-itr-filing-to-easing-tax-burden\/","title":{"rendered":"Direct Tax Code: From Easier ITR Filing to Easing Tax Burden"},"content":{"rendered":"

Modi\u2019s team drafted a new Direct Tax Code (DTC) with the assistance of a Talented committee.\u00a0<\/span><\/p>\n

Ages ago, the Income Tax Act, 1961 was formed, and this is now replaced by DTC.<\/span><\/p>\n

Experience always matters a lot in the direct tax code. With years of work experience, tax experts are expecting a report-generating task force that eases the compliance burden and the litigations that are pending for the future through the consolidation of new drafts of law and orders fetched from multiple high courts and the Supreme Court in settlement issues.\u00a0<\/span><\/p>\n

Amrish Shah, who is a partner of Deloitte India, gave an open statement as\u00a0<\/span>
\n<\/i><\/p>\n

\u201cBroadly, easing the tax and compliance burden, bringing in simplification and certainty in tax provisions and compliance, and introducing provisions facilitating merger and acquisition (M&A) activity and other restructuring will be the major asks from corporate\u201d.\u00a0<\/span><\/p>\n

The tax and its compliance burden are made easier by passing a simplified tax provision and compliance. The introduction of provisions facilitates merger and acquisition activity, along with other major tasks in corporate restructuring, which also impacts businesses and professionals who need to file ITR 3 online<\/strong><\/a> under complex tax scenarios.<\/span><\/p>\n

The expectation is that the new DTC enables tax administration technology via modern law by the present scenario, making processes like return verification and the ability to download itr acknowledgement<\/strong><\/a> more seamless for taxpayers. Furthermore, continued Mr Rahul Garg, who stands as a Senior Partner (Tax & Regulatory) at PwC India, the tax governance will be made even more efficient and effective shortly.\u00a0<\/span><\/p>\n

As the title states, Prime Minister Modi\u2019s rule since last time has\u00a0brought the Expert committee set up to draft a new\u00a0Direct Tax<\/strong> Code (DTC) in place of the old Income Tax Act, 1961, into the limelight<\/span>. The committee\u2019s ToR (Terms of Reference) and constitution differ from those of the earlier one. Thus, the end date for the report submission has been extended thrice, and this has happened so far. The members of the task force are as follows.<\/span><\/p>\n

Akhilesh Rajan is a Central Board of Direct Taxes (CBDT)member, where the CBDT is the top policy-making department in the Tax Department. This member is appointed as the head of the Task Force.<\/span><\/p>\n