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the tax system of india

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ishani kacholia

on 14 May 2014

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Transcript of the tax system of india

the tax system of India
What are taxes?
- Taxes are amounts of money
Collected by the government in order
to run and improve the country.
What are the different forms of taxes?
There are two forms of taxes:
- Direct
- Indirect
Direct taxes are taxes that people earning
about 2 lakhs pay the government.
indirect taxes are taxes paid by everyone when
buying something as the taxes are actually
paid by the company which is selling the product.
what are taxes used for?
taxes are used for providing services,
infrastructure and public welfare.
The History of Taxation
Ancient

India
-in ancient India, kings used to collect taxes from all classes of people in the form of gold coins, cattle, grains
and other raw materials.
-the taxes were used for laying of roads, education, construction of villages, etc.
British India
-taxation in british India was excessively
high.
-the british imposed taxes on
agriculture, land, trade and incomes.
-this lead to severe famines and the impoverishment
of India.
Independent India
-india has a well developed tax structure.
-taxes can be levied by the central govt.,
state govt. and local bodies.
-the central govt. levies income tax, customs duty, central excise and service tax.
-the state govt. levies taxes such as vat and service duty. local bodies collect taxes like octroi.
Tax reforms in India since 1991
What do people think about paying taxes?
positive and negative points about paying taxes
Positive points
Negative points
taxes in India are
reasonable
taxes can be paid online and hence
there is ease of payment.
the rules and regulations
of taxes are still not clear.

this leads to litigation between
the tax payers and the government.
What is our responsibility to ensure that our taxes are used in the right way?
-we have to elect a government that which utilizes
tax payers' money for the best welfare of the country.
-if we feel that the government is not using our money, then we should file an rti application and expose the wastage.
-we should also pay our taxes properly and on time.
credits and bibliography
ashish kacholia
sushmita kacholia

www.incometaxindia.gov.in
shodhganga.inflibnet.ac.in
http://moneyexcel.com/701/20-types-of-taxes-in-india

-before 1991, the tax rates were very high.
-income tax rates used to be as high as 85%.
-After 1991, income tax rates were reduced to reasonable
rates closer to 30%.
-excise rates were reduced to 20% from about 50%.
-this lead to better collections and less evasion.
connection to our central idea
taxation of india is connected to the central
idea, social and political changes influence the
society as taxation methods have always been in
force if any tax was evaded, the evader was always
punished.
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