New Delhi, Feb. 16 -- India's income tax law has recently undergone a major reform with a new Bill having been introduced in the Lok Sabha on Thursday and proposed to be reviewed by the select committee.

The new Income Tax Bill aims to make the tax legislation simpler, concise and easy to read, so that there is less litigation arising out of complex provisions. Recently, income tax department also released a set of FAQs (frequently asked questions) to highlight what lessons they learnt from other countries.

Although this is a historic move in the context of Indian tax law, similar steps have been taken in other countries as well.

For example, this exercise was done in the UK during the period 1994 to 2010 for simplifying the language i...