What To Expect On The Tax Front In 2019

The Year 2018 witnessed significant tax changes and reforms across the globe and India was no exception. The government intensified its steps towards increasing the tax base and took further measures to crack the whip on the parallel economy. The latter half of 2018 saw government take initial steps on reforming the Indian Income Tax Act with the formation of the committee to draft a new tax law which promises to be simple and non-adversarial. In this background, 2019 promises to be yet another year of the roll-a-coaster ride primarily on the tax side where some challenges would intensify, and some aspects would get simplified. Let us look at what can we expect in 2019:

1. Direct Tax Code - Income Tax Law Rechristened