DIRECT TAX REFORM IN INDIA an IMPACT ANALYSIS WITH SPECIAL REFERENCE TO GOVERNMENT REVENUE

Abstract

The tax system of India can be traced back to Mahabharata, Manusmriti, Arthasatra, and Sukranitican. These newlinebooks provide a detail methodology to pour the treasury of their kings. No doubt these treaties have a model of newlinetaxation which includes tax rates, administration, method of revenue collection etc. People like Byasa, Manu, newlineKoutilya and Sukra are the pioneer of tax system of ancient India newlineTax is the major source of filling up of state treasury as no Government wants to generate more revenue from newlineexternal financing because of its inherent limitations. Direct tax and indirect tax both helps government to pour newlineits revenue along with helps in balance economic development. In recent years direct tax contribution to total newlinerevenue is significant as compare to indirect tax. The present colligates Tax Revenue, Non Tax Revenue with newlineTotal Government Revenue. Also a relationship is established among Direct Tax Revenue, Indirect Tax newlineRevenue with Total Tax Revenue. The composition of Direct Tax Revenue is also analysed. All these newlinedissections are carried out to make a productive insight into the ingredients of Total Government Revenue. newline