FA 2019- Reflections (personal) though ...
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https://itatonline.org/…/new-income-tax-act-cbdt-invites-s…/…
< March 24, 2018
comment :
Q
The proposal is to draft a new ‘DTL’; seemingly different from ‘DTC’, earlier proposed but had to be eventually dropped for several known and unknown reasons. May have to wait for, with bated breath, until the contents of the ‘Draft’ from the new Task Force have been made known!
For More shared > https://www.facebook.com/swaminathanv3/posts/1617813684961578
May be, until that happens, it might, for reasons not- so-difficult-to-guess, be prudent not to, in the interim, make any changes in the extant law. To be precise, the need is to ensure not making any material (procedural or substantive) – changes, – for whatsoever reason that be otherwise considered unavoidable,–thereby the task of the experts Force is expedited and rendered as easy as humanly feasible !
UQ
That, however , as more often than not, obviously failed to make even a small dent in the inbox - thinking many of the minds are wedded to ?!
An UPDATE
https://www.icai.org/new_post.html?post_id=5487
https://resource.cdn.icai.org/56085cajournal-aug19-10.pdf
Highlights (Own Random Picks):
Cover Page – UNION BUDGET 2019
Page 170- From the President (Para – Growth- Oriented Union Budget 2019-20)
Page 192- Suggestions of ICAI , Considered/ Accepted
Page 196- Some Key Provisions (- What Lies Ahead))
For a departure, for the nonce, with a view to saving from the self- imposed trouble of reading through the copious material supplied vide the articles, etc., for 'enlightenment', to share instant personal reaction, regretfully so:-
Anyone, including members of the CA Fraternity are fully aware (or expected to so be) of the fact that the Spl. Task Force (Expert Committee) is already seized with the onerous, - nay the most horrendous task of ‘SIMPLIFICATION ‘ of the decades old Law.
A narration of the scope of the TASK may be found HERE:
https://www.cainindia.org/…/government_to_revamp_procedure_f…
The last extended due date for submission is just a few days from now !
In these circumstances, the extremely intriguing point of personal doubt, which must have been of most common concern is THIS: -
Should not, from a pragmatic point of view, founded on common sense thinking, to say the least, the host of changes proposed in the 2019 Bill - since finally enacted - been deferred, until such time the contents of the Expert Committee Report been made known - thereby "EASING" / facilitating the enormous TASK in the hands (minds!) of the Expert committee ?
Gist: The Budget Proposals, before or after enactment, are being given undue publicity , in the media , through Articles, etc. It is observed that, invariably, those are written / authored, making for a ‘run of the mill’ kind. Be that as it may, the final Budget 2019 proposals, regardless of the source of suggestions, have been mostly enacted and are in place as part of the law. As such, the stake holders are left only with Hopson’s choice. In that, they have to simply wait, with bated breath, to get to know,
A) how far/to what extent those are going to be covered or uncovered in the new DTC presently in process/ in the making; though the deadline for the Expert Committee is just a few days hence; and
B) what eventually might be in store ?
OVER to.....!