Tax Reforms

Easwar Committee Report

  1. The committee was set up by the govt to change direct tax laws.
  2. It has suggested several taxpayer-friendly measures to improve the ease of doing business, reduce litigation and accelerate the tax dispute resolution.
  3. Nearly 65% of personal I-T collection in India was through tax deducted at source (TDS) and thus there is need of simplification, enhancement and rationalisation of threshold limits.
  4. It proposed deferring the contentious Income Computation and Disclosure Standards (ICDS) provisions and making the process of refunds faster.
  5. Some of these recommendations are likely to be a part of the Union budget, while others may come through executive action.

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