Income Tax in Theory and Practice

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Among the various indices of ability-to-pay taxes, income is regarded by far the most appropriate. This is borne out by the popularity of income taxes the world over. For operating an income tax system successfully, tax authorities, particularly in developing countries, are required to resolve various issues to make it compatible with the socio-economic objectives of government policy. Part I of this book examines various analytical and policy issues associated with the designing of an income tax system. It is useful for those who want to understand the theoretical framework within which an income tax regime operates. Part II of the book describes in simple language the otherwise complex law of income tax in India. It traces, in brief, the history of income tax legislation in India and describes the existing constitutional provisions and legal framework of income tax. Besides, it states the main provisions of the Income Tax Act, 1961 and explains the law and procedure of assessment of taxable income. Finally, it critically evaluates the present system of income tax in India.

ABOUT THE AUTHOR M.M. Sury

M.M. Sury received his B.A. (Hons.), M.A., and Ph.D. degrees in economics from the University of Delhi. Specialising in fiscal economics, he has published widely on the Indian fiscal system in national and international journals. He was a Visiting Fellow at the International Bureau of Fiscal Documentation, Amsterdam (May 1989), a Fellow at the Indian Institute of Advanced Study, Shimla (1991-92) and a Visiting Fellow in the Department of Law and Management, University of Mauritius, Mauritius (September-October, 2000). He has Economic Adviser, Delhi State Finance Commission (1996-97). Presently, he is a Reader in the Department of Economics, A.R.S.D. College, University of Delhi. He is also the President of the Indian Tax Foundation.

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Bibliographic information

Title
Income Tax in Theory and Practice
Author
Edition
1st.ed.
Publisher
ISBN
8177080288
Length
xviii+236p., Tables; Notes; Bibliography; Index; 23cm.
Subjects