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Taxation in , the n Tax Structure is quite elaborate, with clear distinction in authority between Central, State and local governments. The taxes levied by the Central government are on income (other than tax on agriculture income which would be levied by the state government customs duties, central excise and service tax. The State government.
Direct Tax, direct tax is the tax which is charged directly on the tax payer. For e.g. Property tax and income tax. In other words direct tax is that tax that is deducted from one's salary. Direct Taxation in Direct taxation in is taken care by the Central Board of Direct Taxes (cbdt.
A huge black economy set in both due to Second World War and the increase in economic activity after independence. Savings and investment were encouraged through the various taxation laws by the way of incentives. There was a need for generating huge amount of revenues to fund the economic growth of the country. The tax.
Income Tax Structure Post Liberalization The wave of tax reforms which started across the world in the second half of 1980's found its way into . As part of its policy of liberalization, introduced tax reforms in the 1990'e reforms introduced in the n tax structure are different in comparison to other countries. The.