New Delhi, March 23 -- Minister of State for Finance Pankaj Chaudhary replying to a question in the Parliament on Monday said that the government has undertaken steps to simplify income tax laws while minimising ambiguity and litigation.
A comprehensive review of the Income-tax Act, 1961 was carried out to make provisions clearer, concise and easier to understand.
Chaudhary noted that the government retained key legal terms already interpreted by courts, used simpler language, and introduced formulae and tables to reduce scope for multiple interpretations.
He added that amendments are made after stakeholder consultations, supported by explanatory memoranda and FAQs. The Central Board of Direct Taxes (CBDT) also issues circulars and g...