Study on Tax System in India and Its Impact on Economic Growth

Exploring the Relationship Between Tax System and Economic Growth in India

Abstract

The general growth and development of any nation is the most significant capacity of the government. Every one of the exercises which establishes growth and development needs money. Government raises money through taxes. In the expressions of Dalton Tax is a necessary commitment forced by a public authority independent of the definite measure of administration rendered to the tax payer consequently and not forced as a punishment for any legitimate offense. Tax is perpetual instrument for gathering revenues. The gathering of taxes is separated into direct and indirect tax. Income tax is ordered into direct tax. Tax is the real wellspring of income for the government, the improvement of any nation's economy to a great extent relies upon the tax structure it has received. A Taxation Structure which encourages simple of working together and getting no opportunity for tax evasion conveys flourishing to a nation's economy. This Research Study studies the tax system in India and its impact on economic growth.