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History of Income TaxLoading...
Rajakrishnan MAssistant Professor in Commerce with CA
Dr. N.G.P. Arts and Science College
Coimbatore
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Learning Outcome:
* Origin of the Term
* Tax in Manu Smirithi
* Tax in Arthasastra
* Tax History of India
* Tax in Manu Smirithi
* Tax in Arthasastra
* Tax History of India
History of Taxation in India:
Tax payment is mandatory for every citizen of the country.
There are two types of tax in India i.e. direct and indirect.
There are two types of tax in India i.e. direct and indirect.
Tax is a mandatory liability for every citizen of the country.
Taxation in India is rooted from the period of Manu Smriti and Arthasastra.
Present Indian tax system is based on this ancient tax system which was based on the theory of maximum social welfare.
Taxation in India is rooted from the period of Manu Smriti and Arthasastra.
Present Indian tax system is based on this ancient tax system which was based on the theory of maximum social welfare.
"It was only for the good of his subjects that he collected taxes from them, just as the Sun draws moisture from the Earth to give it back a thousand fold" –
By Kalidas in Raghuvansh eulogizing KING DALIP.
The origin of the word "Tax" is from "Taxation" which means an estimate.
By Kalidas in Raghuvansh eulogizing KING DALIP.
The origin of the word "Tax" is from "Taxation" which means an estimate.
In India, the system of direct taxation as it is known today has been in force in one form or another even from ancient times. Variety of tax measures are referred in both Manu Smriti and Arthasastra.
The wise sage advised that taxes should be related to the income and expenditure of the subject. He, however, cautioned the king against excessive taxation; a king should neither impose high rate of tax nor exempt all from tax.
The wise sage advised that taxes should be related to the income and expenditure of the subject. He, however, cautioned the king against excessive taxation; a king should neither impose high rate of tax nor exempt all from tax.