LOOPHOLES IN TAXATION LAW LEGAL

AUTHOR – FURQAAN HAMEED, STUDENT AT AMITY LAW SCHOOL, AMITY UNIVERSITY, MUMBAI

BEST CITATION – FURQAAN HAMEED, LOOPHOLES IN TAXATION LAW LEGAL, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (9) OF 2025, PG. 110-118, APIS – 3920 – 0001 & ISSN – 2583-2344.

This article is published in the collaborated special issue of Amity Law School, Amity University, Mumbai and the Institute of Legal Education (ILE), titled “Emerging Trends in Law: Exploring Recent Developments and Reforms” (ISBN: 978-81-986345-1-1).

Abstract

The paper deals with the taxation law explores the structure, impact, and fairness of taxation systems and the loopholes present in it ,it states how the loopholes are exploited by the major copration and wealthy individuals for their own benefit.it  focus on how tax laws are applied, avoided, and perceived by different socioeconomic groups The policies that are made which contains certain gray areas that are identified by high ranking tax advisors which are hidden from the general public and is not easily accessible It highlights the growing disparity caused by tax avoidance strategies employed by wealthy individuals and corporations,   The different strategies used for tax avoidance which  is technically not illegal but raises the question of ethics and morality involved in the system of taxation which also have a political aspect to it 

The paper urges the importance of financial education  so that the general public could be benifitted by it it also states as why it is important to  close the loopholes present in our legal system  along with The affect of these loopholes on the economic stability and  social justice and equality  .

The research emphasizes the broader implications of this imbalance, including underfunded public services,  increased economic inequality which are not good for the overall development of the country The paper sates the urgent need for a  tax reform as a tool for promoting social equity,and  sustainable development, along with the  public trust in the government.