STATEMENT OF OBJECTS AND REASONS + PRESIDENT’S RECOMMENDATION UNDER ARTICLE 117 OF THE CONSTITUTION OF INDIA

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..... overburdened and language has become complex, increasing cost of compliance for taxpayers and hampering efficiency of direct-tax administration. Tax administrators, practitioners and taxpayers have also raised concerns about the complicated provisions and structure of the Income-tax Act. Therefore, the Government in the budget in July 2024 announced that a time bound comprehensive review of the .....

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