3. MEANING India’s history of taxation suggests existence of a large and composite taxable population.
4. TAX SYSTEM IN INDIA Reduction in customs and excise duty. Lowering corporate tax. Widering of the tax base and toning up the tax.
5. TAX LEVIED BY CENTRAL GOVT: Direct tax *tax on corporative income. *capital gains in tax. *personal income tax. *tax in incentives . Indirect tax *excise duty, customs duty . *service tax *sales tax *tax levied by state govt: and local bodies.