Income Tax Bill to make rules simpler, easy to read

THE Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible.

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"You can expect simplicity, consistency and direct speech.

This law will be written quite differently. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a simpler rules, which even a salaried taxpayer can read and figure out what are his tax liabilities," says revenue secretary Tuhin Kanta Pandey in an interaction with TNIE.

He said that worldwide there is a new way of writing laws which is more direct and clearer. Pandey clarified that there are no surprises in terms of tax structure, which he says would not be any different from what the finance minister has already announced.