International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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STUDY ON BANK TRANSACTION TAX

    3 Author(s):  VRINDA, SHRUTHI BALAJI, SANJANA MALLIK

Vol -  9, Issue- 1 ,         Page(s) : 282 - 289  (2018 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

India being a growing economy, it has become necessary to introduce and implement certain reforms. As it has been observed that India has been in continuous fiscal deficit due to lower revenue, it can be concluded that tax reforms are the need of the hour. In the complex tax machinery in India, people tend to escape from paying their taxes. Hence the major issue in tax reforms are simplifying complexity in present tax system, reducing multiple layers of tax levy and tax collection cost suggesting ways to get rid of tax evasion. With the necessity for the above, a proposal for single tax system called Bank Transaction Tax

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