Guest Talk

24th September, 2019

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"The eyes see only what the mind is prepared to comprehend"
"Where words are restrained, the eyes often talk a great deal."

Indian Tax Structure - An Analytical Perspective
A guest talk was arranged for the second year B.Com students on 24.09.2019. Mr. Harish H N, Assistant Professor at the Department of PG Studies, Government First Grade Women's College, Hassan, was invited to talk on the topic "Indian Tax Structure - An Analytical Perspective"

Mr Harish has completed his M.Com and M.Phil. and has 10 years of teaching experience for the under graduates and 2 years of teaching for the Post Graduates. He has served as an Assistant Professor at institutes like Government First Grade College, Hassan, NDRK College, Hassan and Government First Grade College, Alur. Mr Harish has attended 1 District Level Seminar, 3 State Level Seminars, 17 National Level Seminars and 13 International Level Seminars. He has presented a total of 30 papers at the District, State, National and International level. At present Mr Harish is pursuing his PHD at Kannada University, Hampi.

Brief highlights of the talk:
Tax is the major source of revenue for the government, the development of any country's economy largely depends on the tax structure it has adopted.

A Taxation Structure which facilitates easy of doing business and having no chance for tax evasion brings prosperity to a country's economy.

Taxation structure which has provisions for tax evasion and the one which does not facilitate ease of doing business slows down the growth of country's economy.

Taxation structure plays an important role in country's development. India has a well-developed tax structure.

The power to levy taxes and duties is distributed among the three tiers of Government, in accordance with the provisions of the Indian Constitution.

Indian taxation structure has gone through many reforms and still it is very far ahead from being an ideal taxation structure.

Many problems like Tax Evasion, Reliance on indirect taxes, Black money, existence of parallel economy show that Indian taxation system requires some major reforms in the future ahead to address all this problems.

There are various number of taxes and different tax collection authorities in India.

The major dependence is on indirect taxes for tax collection than the direct taxes.

Tax evasion is a serious problem in developing countries which are in the process of evolving their tax systems.

The major causes of tax evasion include high level of tax rates, apathy towards government and its laws, and lenient penal action.

To fight the evil of black money and tax evasion in India, some of the important measures taken include reduction in tax rates, minimisation of controls and licences, regulation of donations to political parties, creating confidence among small taxpayers, substitution of sales tax by excise duty, vigorous prosecution policy and compulsory maintenance of accounts.