The Hindu Business Line : Task force on easy direct tax norms formed

THE Finance Ministry has constituted a eleven-member task force on rationalisation and simplification of direct taxes, chaired by Dr Vijay Kelkar, Advisor to the Finance Minister.

Dr Ashok Lahiri, who will shortly take charge as Chief Economic Advisor, is a member of the panel.

The other members are Mr S.N.L. Aggarawal, Advocate, Mr Arvind Sonde, Advocate, Dr Omkar Goswami, Chief Economist, Confederation of Indian Industry, Dr Urjit Patel, Executive Vice-President, IDFC, Mr T.V. Mohandas Pai, Chief Financial Officer, Infosys Technologies, Dr S. Anantnarayan, Executive Director of Amco Batteries, Mr Dipankar Chatterjee, Chartered Accountant, Kolkata, and Mr P.C. Parmar, Chartered Accountant, Pune.

Mr A.J. Majumdar, Joint Secretary, Central Board of Direct Taxes, is the Member-Secretary of the task force. The panel will submit a draft consultation paper by November-end. The final report will be given by December 15.

The terms of reference of the task force include simplification of direct tax laws with a view to curtailing exemptions, correcting anomalies and improving equity.

It will also suggest measures to improve taxpayer services, reduce compliance costs and facilitate voluntary compliance.

Re-designing procedures to improve compliance and strengthening of the enforcement machinery also figures in the terms of reference.

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