Impact Of Income Tax On The Revenue Of Government Of India

Chandroday Pratap Singh Tomar & Ambarish Bharadwaj Sivashankaran, School of Law, Bennett University, Greater Noida, Uttar Pradesh, India

ABSTRACT

Without tax money, the government cannot fund its operations. It has a lot of things to do and doing them all will cost a lot of money. Tax dollars will be needed to cover this cost. One of the primary ways the government brings in money is through taxation. The concept of taxation is not new. Since the beginning of time, it has been imposed. While just roughly 3.3% of the population of India submitted returns in 2010–11, Singapore's ratio was 39.0%, the USAs was 46.0%, and New Zealand's was 75.0%. In order to raise public revenue, the government is making a number of ongoing measures to increase the number of persons subject to taxation. The income tax base in India has been expanded through the implementation of a number of tax reforms. This article examines the post-reform trends and patterns in income tax revenue in India, focusing primarily on the effects of recent tax reforms. The analysis uses income tax records that span 31 years, from 1991– 92 to 2021–22.