<h1>Task Force Submits Report on New Direct Tax Code to Finance Minister; Details Still Confidential.</h1> A government-appointed task force, led by a senior member of the Central Board of Direct Taxes, submitted its report on the new Direct Tax Code to the Finance Minister. This code aims to replace the existing Income Tax Act. The report's details remain undisclosed. Initially, the task force was to submit its findings by May 31, but extensions were granted to accommodate new members and additional input. The task force, comprising experts from various fields, was formed following the Prime Minister's call to modernize the outdated Income-Tax Act of 1961, aligning it with international standards and the country's economic needs.