Speaking to the Central Direct Taxes Advisory Committee on Thursday, Indian Finance Minister Yashwant Sinha stressed that an effective tax system has to be built on 'rational' tax laws, simple procedures, and inbuilt deterrents against tax evasion.
Mr Sinha identified the three year programme of simplification of the country's direct tax legislation, and the rationalisation of required procedures as two of the key factors behind the fact that the number of Indians paying taxes has almost doubled over that period.
However, there were suggestions from Committee members that despite this positive step, the tax base in India could be broadened further, as compared to the population of the country it is still rather small. Further simplifications to tax law were also suggested, which will form the background material for Mr Sinha's forthcoming budget.
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