On 27 October 2015, India's Central Board of Direct Taxes announced that a committee has been established to simplify the provisions of the Income Tax Act, 1961.The work of the committee will focus on:
- Identifying provisions in the Act that lead to litigation due to differing interpretations;
- Identifying provisions in the Act that impact the ease of doing business in India;
- Identifying areas and provisions that may be simplified taking into account the current legal system; and
- Suggesting a…