India Weighs Income Tax Law Revamp

The video discusses India's ongoing deliberations to potentially rewrite its direct tax code, focusing on the capital gains tax regime. Despite the Income Tax department's denial of any current plans, the government has previously considered such changes. The capital gains tax in India is complex, with varying rates and benefits, making it a key area for reform. The discussion highlights the potential impact on various investors and the need for a more consistent and efficient tax system.

What was the response of the Income Tax department regarding the tax plan under review?

Why was there a delay in making significant changes to the capital gains tax regime last year?