Should Income Tax Be Abolished To Curb Black Money: Alternative Revenue Collection Methods
| Vol-3 | Issue-12 | December 2018 | Published Online: 10 December 2018 PDF ( 244 KB ) | ||
| Author(s) | ||
| Cleaven Crasta 1; Dhruv Jain 2; Geetha Priya 3 | ||
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1BCom F&A, Department of Professional Studies, Christ University, Bengaluru (India) 2BCom F&A, Department of Professional Studies, Christ University, Bengaluru (India) 3BCom F&A, Department of Professional Studies, Christ University, Bengaluru (India) |
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| Abstract | ||
In this paper, an attempt has been made to analyse whether abolishing Income Tax could help solve the Black money crisis prevailing the country. Also, if Income Tax is abolished, then what shall be the alternative revenue collection methods to be introduced by the Government of India in order to bridge the gap created by the abolishment of Income Tax. For purpose of this research, tax rates and the Illicit Financial Outflows, it is considered as a benchmark for Black Money for the purpose of this analysis, of 112 countries has been taken. |
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| Keywords | ||
| Income Tax, Black Money, Government of India, Financial Outflows | ||
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