Improvisation of Direct Tax Policies: Loopholes Plugged

Authors

  • Rasleen Kaur Assistant Professor, Sri Guru Gobind Singh College of Commerce, University of Delhi

DOI:

https://doi.org/10.51245/rijbr.v2i1.2017.125

Keywords:

Loopholes, Direct Taxation policy, Income Tax Act 1961, Reforms, gaps in the policy, Issues

Abstract

This paper focuses on the gaps found in the direct tax policies in India. Income tax Act 1961 is a mature, refined and seasoned tax regime of India. However, there were and there are still many loopholes in the income tax rules which could have been generated due to lopsided view of the effect of the policy or due to generalisation of the policy or due to human errors. The paper focuses on finding the history of these gaps and analyse the ways of filling these gaps by the tax authorities. The methodology used for this paper is a literature review of the published materials. A broad search strategy was used using the key terms like income tax act, reforms in direct tax, loopholes in existing direct taxation system. The major contribution of the paper is to draw the attention towards the loopholes which have been extensively used to evade taxes and were plugged by applying different ways of bringing reforms.

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Published

2017-11-28

How to Cite

Kaur, R. . (2017). Improvisation of Direct Tax Policies: Loopholes Plugged. Ramanujan International Journal of Business and Research, 2(1), 177–186. https://doi.org/10.51245/rijbr.v2i1.2017.125

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Section

Articles