Changes in Income Tax Act soon to simplify procedures - Revenue secretary
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The government will soon carry out reforms and changes in the income tax (IT) act to simplify its procedures, a top finance ministry official said on Saturday.
According to Revenue Secretary Hasmukh Adhia, the central government will soon reveal a road map of changes to simplify the IT act.
"We will soon disclose what changes are required and how it will be done," Adhia said at a tax reforms conference organised here.
"The IT act has become complex, we need to undertake the wholesale job of removing such things and this is the right time to do it."
The revenue secretary called for innovative ideas to deal with issues like complexities in the Income Tax act.
"We need real innovative ideas, we really need out of the box thinking, beyond the incrementalism," he added. (Business Stndard)
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