New Delhi: The Government had constituted a Task Force to draft a New Direct Tax Law to vide Officer Order in F.No. 370149/230/2017 dated 22.11.2017 under the Convenorship of Shri Arbind Modi, the then Member (Legislation), CBDT with original term of six months for submission of report to the Government which was extended by a period of three months.
However, on superannuation of Shri Arbind Modi, the Task Force has been reconstituted vide Office Order in F.NO. 370149/230/2017 dated 26.11.2018 with the following Members:
- Akhilesh Ranjan, Member (Legislation), CBDT-Convener;
- Girish Ahuja, practising Chartered Accountant and non-official Director State Bank of India;
- Rajiv Memani, Chairman & Regional Managing Partner of E&Y;
- Mukesh Patel, Practicing Tax Advocate, Ahmedabad;
- Mansi Kedia, Consultant, ICRIER, New Delhi
- G. C. Srivastava, Retd. IRS (1971 Batch) and Advocate.
The terms of reference of the Task Force remains unchanged and is to draft an appropriate direct tax legislation keeping in view:
- the direct tax system prevalent in various countries;
- the international best practices;
- the economic needs for the country and;
- any other matter connected thereto.
The task force is required to submit its report to the Government by February 28, 2019.