International Journal of Research in Social Sciences
Year : 2016, Volume : 6, Issue : 10
First page : ( 628) Last page : ( 647)
Online ISSN : 2249-2496.

“The unheard souls of Raja Chelliah Committee- An exclusive study on tax reforms in India”

Ravi M.V.

Research Scholar, Department of Commerce, Bangalore University

Online published on 19 November, 2016.

Abstract

Taxation is an important source of revenue for any country. It helps in securing social justice, reducing inequalities in income and wealth, mobilizing savings and discouraging undesirable investment. The Objective behind reform is orienting the tax structure towards an open and competitive economy by improving its efficiencies and tax revenues on a sustainable basis. Tax reforms should aim at augmenting the tax revenue to meet ``the growing expenditure, enhance the income elasticity of the revenue, the efficiency cost of taxation must be minimized, reforms must aim at designing an appropriate policy of tax incentives, Equity is very important objective of tax reforms is to make the system very simple as possible, ensure Flexibility and stability, Improving the Tax Administration so that the fiscal deficit may be brought down to a reasonable level, lowering the tax rates and broadening the tax base, higher revenue realization should be possible with better compliance these all the above objectives are included in the Raja Chelliah Committee Report. The study is Descriptive in Nature and Data collected from secondary sources. The objective of the present paper is to study the Tax Reform Measures Suggested by Chelliah Committee and Relevance on Economic Development.

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Keywords

Tax Reforms, Efficiency, Tax Revenue, Tax – GDP Ratio, Equity, Growth.

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