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Direct Tax Reform: Family as Tax Entity and Other Issues

K. Sundaram and V. Pandit
Economic and Political Weekly
Vol. 14, No. 17 (Apr. 28, 1979), pp. 776-781
Stable URL: http://www.jstor.org/stable/4367550
Page Count: 6
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Direct Tax Reform: Family as Tax Entity and Other Issues
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Abstract

The draft five year plan 1978-83 calls for a major effort at mobilisation of additional resources. Much of this effort will have to be directed towards raising further tax revenues. So far, the policy-makers have mainly relied on indirect taxes in their efforts to raise additional resources. Since indirect taxes already contribute more than 77 per cent of the total tax revenues, a stage has clearly been reached where we have to rely increasingly on direct taxes. In examining the possible changes in the system of direct taxation, while revenue implications are no doubt important, considerations of equity and incentive cannot be ignored. Within the set of direct taxes, income-tax is the principal source of revenue. The focus of this paper, therefore, is on possible rationalisation of the system of income taxation. It excludes from the scope of its analysis provisions relating to enterprises, incorporated or otherwise, including co-operative societies. Limiting the scope to the taxation of individuals and Hindu undivided families (HUFs), attention is focused on the question of what ought to be the tax entity, the tax treatment of his entity, and the consequences thereof in terms of equity and revenue. In this context, some of the existing provisions on exemptions and deductions are reviewed from the point of view of equity and incentive for saving.

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