Arbind Modi

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New direct tax code may have to wait until 2020

Akhilesh Ranjan, Member, CBDT is likely to be the head of the panel on Direct Tax Code
Report on direct tax reforms on hold as panel chief retires

Arbind Modi, the convenor of the six member task force, retired on September 30; govt to appoint new convenor
Panel on income tax reforms to submit report in a few days; implementation may spill over to next year

A new direct tax code may involve change in rates and slabs that will require amendments in the Finance Bill, which is unlikely to happen in an election year when an outgoing government usually presents only an interim budget/vote on account
New direct tax code may have to wait until 2019

It may take at least another two months for the Arbind Modi committee to submit its report on the new direct tax legislation; the public consultations and debates will follow thereafter

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Arbind Modi

New direct tax code may have to wait until 2020

Report on direct tax reforms on hold as panel chief retires

Panel on income tax reforms to submit report in a few days; implementation may spill over to next year

New direct tax code may have to wait until 2019