Direct Taxes

Vijay Kelkar Committee (2002) Recommendations on Direct Taxes

November 23, 2015

Impetus to direct tax reforms in India, came with the recommendations of the Task Force on Direct & Indirect Taxes under the chairmanship of Vijay Kelkar in 2002. The main recommendations of this task force related to the direct taxes related to increasing the income tax exemption...

Comparison of Direct and Indirect Taxes

November 23, 2015

There are several parameters on which the direct and indirect taxes can be compared. Firstly, direct taxes are progressive and they help to reduce inequalities but indirect taxes are regressive and they widen the gap of inequalities. Thus, direct taxes result in more equitable distribution of income...

Merits and Demerits of Direct Taxes

November 23, 2015

There are different types of direct taxes such as Income Tax, Corporate Tax, Inheritance Tax, Property Tax, Wealth Tax (abolished now in India), Capital Gains Tax etc. Merits The key merits of the direct taxes are as follows: Progressive Tax The direct taxes follow the principle of...