Committees...Down The Years

YEAR COMMITTEES RECOMMENDATIONS1953 JohnMathaiCommittee Groundwork on India’s fiscalstructure 1956 Nicholas Kaldor Fiscal structure Committee 1959 Mahavir Tyagi Fiscal structure Committee 1961 Law Commission Framed Income-Tax Act 1971 K.N.Wanchoo Committee Family should be unit of assessment; 1%levy on share capital;reveal donations to political parties; voluntary declarations be abolished 1978 C.C.Choksey Committee Suggested a central tax code 1981 L.K.Jha Committee Specialisation by tax departments; Selective prosecution; PANs beallotted 1985 NIPF&PReport Dismantle licence system; regulate political donations 1991 R.Chelliah Committee Technical offences be compounded; fund computerisation by FIs;corporate tax of 40 percent 1995 4 departmentalcommittees Assessment, procedures, reliefs and deductions, appeals and institutions