The Union Government on November 26, 2017 appointed appointed Akhilesh Ranjan as Convenor of the Task Force that was constituted in November 2017 for drafting a New Direct Tax Legislation.
Akhilesh Ranjan is presently serving as the Member (Legislation) of the Central Board of Direct Taxes (CBDT). The other members of the Task Force remain unchanged.
The other members are:
- Girish Ahuja, non-official Director of State Bank of India
- Rajiv Memani, Chairman & Regional Managing Partner of E&Y
- Mukesh Patel, Practicing Tax Advocate, Ahmedabad
- Mansi Kedia, Consultant, ICRIER, New Delhi
- C. Srivastava, Retd IRS (1971 Batch) and Advocate
Besides, Chief Economic Adviser (CEA) Arvind Subramanian will be a permanent Special Invitee in the Task Force.
The task force has been tasked to draft an appropriate Direct Tax Legislation keeping in view the direct tax system prevalent in various countries, international best practices and economic needs of the country. The Task Force has set its own procedures for regulating its work.
The Task Force will submit its report to the Government by February 28, 2019.
In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Union Government on November 22, 2017. At that time, Arbind Modi, the then Member (Legislation) of CBDT, was appointed as the Convener of the task force.