Income Tax and Salaried Class

Contents: Preface. 1. Introduction. 2. Theories and principles of income taxation. 3. Evolution of income tax system in India. 4. Present structure of income taxation in India. 5. Effects of income tax on savings of salaried class. 6. Effect of income tax on consumption of the salaried class. 7. Effect of income tax on standard of living of the salaried class. 8. Conclusion and suggestions. Selected bibliography.

"Main objective of economic planning in India has been \'growth with justice\'. Fiscal policy plays an important role to achieve this objective. Taxation being the important instrument of fiscal policy, is used to achieve the objectives of high rate of economic growth, economic stability and social justice. Income tax on \'individual\' may be considered as the best among all the taxes because it ensures equity in the distribution of tax-burden and at the same time is better suited to achieve other socio-economic objectives. Estimation of tax incidence evaluates the taxation policy regarding distribution of tax burden.

This book "Income Tax and Salaried Class" is an attempt to critically examine the incidence and effects of income tax on individuals earning income from \'salary\'. The general nature of this study is empirical. The book consists of eight chapters.

The first chapter of introduction is exclusively written for research methodology.

In the second chapter, theories and principles of income taxation have been reviewed.

In the third chapter, it has been tried to sketch out the evolution of income tax system in India.

Fourth chapter is based on the primary, as well as, secondary data which analyse the structure of income taxation in India.

In the fifth chapter, effect of income tax on savings of the salaried class has been analysed with the help of primary and secondary data.

Sixth chapter primarily deals with primary data collected from the respondents to see the effect of income tax on consumption of the salaried class.

In the seventh chapter, effect of income tax on standard of living of the salaried class has been discussed.

Eighth chapter suggests the measures which can be taken to reduce burden of income tax on salaried class and check adverse effects of income tax on them." (jacket)