‘Faulty drafting in reforms often leads to tax evasions’

They felt government introduces reforms to simplify tax structure but due to faulty drafting or complexity of provisions, assesses commit tax evasion. Anil Sharma Chairman Tax Committee of Northern India Regional Council of ICAI talked about how faulty laws enhance unnecessary litigation which ultimately lead to tax evasion.

Rakesh Bhalla, Chairman, Direct Tax Committee of the ICAI emphasised the change of definition of accountant under Income Tax Act 1961.