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Volume : I, Issue : IX, October - 2011

INDIAN TAX REFORMS AND ISSUES OF DIRECT TAX CODE

Sneha Deshpande

Published By : Laxmi Book Publication

Abstract :

Different countries have made several changes in their tax system. These changes were either due to their development strategy or different economics policies . In developing economies the tax system is generally changed to increase the revenue to meet the increasing fiscal deficit . It has been said that fiscal crisis has been mother of tax revenues ( Bird 1993). In recent times it has been observed that globalization is also one of the reasons of change in tax system. Now such tax system is required which is broad base ,simple and transparent as well as which fulfils the international needs. In India there is transition from licensed industrial regime to open market system. The market system indicated that there should be change in the recent tax system to adjust with the needs of a market economy to ensure international competitiveness.

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Cite This Article :

Sneha Deshpande, (2011). INDIAN TAX REFORMS AND ISSUES OF DIRECT TAX CODE. Indian Streams Research Journal, Vol. I, Issue. IX, http://oldisrj.lbp.world/UploadedData/508.pdf

References :

  1. Bird, Richard M. and Eric M. Zolt, 2005. "Redistribution via Taxation:The Limited Role of the Personal Income Tax in Developing Countries,"International Studies Program Working Paper Series, at AYSPS, GSU paper0507, International Studies Program, Andrew Young School ofPolicy Studies, Georgia State University. Boskin.
  2. KPMG 2009 Direct tax Code2009 .highlights Available via the Internet at http://www.kpmg.com.
  3. Meade, J E 1978. The Structure and Reform of Direct Taxation, London: George Allen and Unwin
  4. M. Govinda Rao* Tax Reform in India : Achievements and Challenges, Asia pacific Development Journal Vol. 7, No. 2, December 2000
  5. Peter, M V & Kerr, 12001. "The influence of tax mix and tax policy on savings and capital formation in developing economies: A Survey," Asia Pacific Development /0Hma/,UNESCAP,8(l).
  6. India: Direct Tax Code 2009 review and analysis Stock market review .com

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