IMPLICATION OF DIRECT TAXATION IN INDIA

AUTHOR- MISHIKA AGARWAL, STUDENT AT AMITY UNIVERSITY, NOIDA

BEST CITATION – MISHIKA AGARWAL, IMPLICATION OF DIRECT TAXATION IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (1) OF 2024, PG. 98-101, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

In India, direct taxation transcends its role as a revenue-raising mechanism and assumes broader significance in terms of economic equity, fiscal management and governance. By understanding the implications of direct taxation, stakeholders can work towards building a tax system that not only meets revenue objectives but also promotes inclusive growth, social justice and economic stability. This paper underscores the critical role of direct taxation in India’s economic and social development. Through the implications of direct taxation, policymakers can formulate tax policies that promote sustainable economic growth and enhance the overall welfare of society. Addressing the challenges associated with tax administration and compliance is essential for realizing the full potential of direct taxation as a tool for inclusive and equitable development in India.

Keywords: Direct Taxation,Central Board of Direct Taxes (CBDT), Ministry of Finance