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Search for RECORD TAX COLLECTION, CHEERING NUMBERS – HOW INDIA FINALLY SEEMS TO BE BECOMING A TAX COMPLIANT COUNTRY in the web..
RECORD TAX COLLECTION, CHEERING NUMBERS – HOW INDIA FINALLY SEEMS TO BE BECOMING A TAX COMPLIANT COUNTRY
India has largely become a tax non-compliant society: These were the words of Finance Minister Arun Jaitley in one of his early Budget speeches. The statement clearly set the tone — that the Narendra Modi government will work towards expanding the tax base.
A lot of small changes along with the impact of the Goods and Services Tax in the formalisation of the economy and sporadic impact of demonetisation have helped India to take, arguably, the first step towards becoming a tax compliant society. To begin with, there has been a dramatic rise in direct tax collection since 2016, data show. The income tax growth which was mere from 8.2% in FY16 rose to 26.8% in FY17 and 21.0% in FY18.
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Search for RECORD TAX COLLECTION, CHEERING NUMBERS – HOW INDIA FINALLY SEEMS TO BE BECOMING A TAX COMPLIANT COUNTRY in the web..
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