First draft of new simplified I-T law to be prepared by tax dept panel: Revenue Secretary Sanjay Malhotra

Revenue Secretary Sanjay Malhotra said that the exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the income tax law. Finance Minister Nirmala Sitharaman in her Budget speech earlier this week announced that a comprehensive review of the Income-tax Act, 1961 will be completed in six months.