The task force formed last year to frame new direct tax legislation has not submitted its final report, which was due by September-end, to the finance ministry.
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The task force, headed by then Central Board of Direct Taxes (CBDT) Member Arbind Modi, was constituted in November 2017 in order to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with economic needs of the country.
The task force is learnt to have prepared a draft report but a final submission has not been made.
The convenor of the task force retired from the post of Member (Legislation), CBDT on September 30. Now the future course of action on the draft report is unclear as Modi was the only serving government official on the panel.
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