India Aims to Simplify 60-Year-Old Income Tax Law With Review

India’s income tax department will review its more than 60-year-old income tax law with an aim to simplify it for taxpayers.

The department formed a special committee to oversee the review of the Income-tax Act of 1961 to make it “concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers,” according to a press release by the ministry of finance Monday.

As part of its review, the Central Board of Direct Taxes launched a consultation seeking comments from the public on four areas — simplifying the law, reducing litigation and compliance, and ...