New Delhi, Sept. 3 -- The Parliamentary Standing Committee on Finance has flagged compliance-related glitches in the implementation of the new Income Tax Act and is seeking more information from the Central Board of Direct Taxes (CBDT) on its impact, including rise in tax revenue, taxpayer numbers and pending litigation.

The committee, chaired by Bhartruhari Mahtab, held a meeting on Thursday on "Direct Tax Reforms: Simplification, Rationalisation and Ease of Compliance" with representatives of the Ministry of Finance's Department of Revenue and the CBDT.

Speaking to ANI, Mahtab said the Income Tax Act 2026 came into operation from April 1 this year, and the committee wanted to understand the impact of the changes after five months of i...