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Volume : I, Issue : IX, October - 2011 INDIAN TAX REFORMS AND ISSUES OF DIRECT TAX CODE Sneha Deshpande DOI : 10.9780/22307850, 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. Keywords : Article : Cite This Article : Sneha Deshpande, (2011). INDIAN TAX REFORMS AND ISSUES OF DIRECT TAX CODE. Indian Streams Research Journal, Vol. I, Issue. IX, DOI : 10.9780/22307850, http://oldisrj.lbp.world/UploadedData/508.pdf References : - 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.
- KPMG 2009 Direct tax Code2009 .highlights Available via the Internet at http://www.kpmg.com.
- Meade, J E 1978. The Structure and Reform of Direct Taxation, London: George Allen and Unwin
- M. Govinda Rao* Tax Reform in India : Achievements and Challenges, Asia pacific Development Journal Vol. 7, No. 2, December 2000
- 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).
- India: Direct Tax Code 2009 review and analysis Stock market review .com
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