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Task force on direct taxes soon

By Our Special Correspondent

NEW DELHI SEPT. 9. After a task force on indirect taxes, the Union Finance Ministry has notified the setting up of a task force on direct taxes. Both will be headed by Vijay Kelkar, Adviser to the Finance Minister, Jaswant Singh.

The task force on direct taxes, which is to submit a draft consultation paper to the Government by October 31 and after feedback and comments, submit the final report by December 15, has been mandated to rationalise and simplify direct taxes with a view to minimising exemptions, removing the anomalies and improving equity.

It has been asked to suggest improvement in taxpayer services to reduce the compliance cost, impart transparency and facilitate voluntary compliance. The task force will also redesign procedures for strengthening enforcement to improve compliance of direct tax laws.

Apart from Dr. Kelkar, the task force will include Ashok Lahiri, Director of the National Institute of Public Finance and Policy, S.N.L. Agarwala, former Chief Commissioner of Income-Tax, Arvind Sonde, advocate, Mumbai, Omkar Goswami, Chief Economist, CII, Urjit Patel, Executive Vice-President, Industrial Development Finance Corporation, Mumbai, S. Ananthanarayanan, Executive Director AMCO Batteries, Bangalore, Dipankar Chatterji, chartered accountant, Kolkata, T.V. Mohandas Pai, Chief Financial Officer, Infosys, Bangalore, and P.C. Parmar, chartered accountant, Pune. The Joint Secretary in the Central Board of Direct Taxes, A.J. Majumdar, will be the Member-Secretary.

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