{
  "id": 5312350,
  "title": "Panel flags new I-T Act compliance gap",
  "url": "https://urgent.news/2026/09/03/panel-flags-new-i-t-act-compliance-gap",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T10:47:56.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/news/economy/finance/parliamentary-panel-flags-compliance-glitches-on-new-income-tax-act-seeks-more-data-from-cbdt/articleshow/133733660.cms"
  },
  "original_language": "en",
  "account": "New Delhi: The Parliamentary Standing Committee on Finance has identified issues with the implementation of the new Income Tax Act 2026, prompting a request for additional information from the Central Board of Direct Taxes (CBDT) regarding the impact on tax revenue, taxpayer numbers, and pending litigation. Committee chair Bhartruhari Mahtab emphasized the need to assess the effects of the Act's rationalization and simplification measures on income tax after five months of implementation. Mahtab revealed that income tax revenue had surged due to the buoyant economy, but also noted compliance challenges, particularly in cases pending at the appellate level and high courts, where the CBDT has won 14% of decisions. The committee further discussed the efficiency of technology-driven tax processes and the need to address glitches faced by taxpayers. Mahtab highlighted the disparity between corporate and non-corporate income tax, questioning why non-corporate income tax hasn't risen despite more tax payers coming into the system. The committee expressed concerns regarding compliance and urged tax authorities to respond with solutions within the next two to three weeks.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}