<h1>Task Force for new direct tax law extended; deadline deferred to permit review of international practices and economic needs.</h1> A Task Force was constituted to review the Income-tax Act, 1961 and draft a new direct tax law considering comparative direct tax systems, international best practices, and domestic economic needs. Its original six-month term for submitting a report to the Government has been extended by three months, with the extension approved by the Finance Minister to allow additional time for preparation and submission of the draft legislative recommendations.