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Friday, 17 June 2016

Widening the tax net in India


  1. News: Modi asked senior tax officials to aim for widening the tax net to include more non-agricultural income households (from the present 5.4 crore households to 10 crore households)
  2. Trend: In India, 92% of tax revenues come from self-assessments, advance tax payments and tax deducted at source
  3. 8% of tax revenues are raised by the tax administrators, through assessments and scrutiny of returns
  4. Five-point charter: The changes could be implemented through a five-point charter, ‘RAPID‘ – Revenue, Accountability, Probity, Information and Digitisation

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