( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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OLD REGIME AND NEW REGIME OF INCOME TAX: A COMPARATIVE CASE STUDY

    1 Author(s):  KARTICK BISWAS

Vol -  12, Issue- 7 ,         Page(s) : 149 - 164  (2021 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

When policymakers seek to influence an economy, they have two main tools at their disposal - monetary policy and fiscal policy. Fiscal policy plays a dynamic role in developing and underdeveloped countries. It means the use of taxation, public borrowings and public expenditure by the government of a nation to promote strong and sustainable growth and reduce poverty. Of all the means taxation is the most effective instrument of fiscal policy. A budget surplus may be achieved through higher prices and tax rates. So the actual efficacy of fiscal policy will depend on the country’s tax structure.

Law and Practice of Direct and Indirect Taxes- Dr. C.H.Sengupta
Research Methodology- C.R.Kothari. 
The Economics of Development and Planning- M.L.Jhingan
Higher Secondary Business Economics and Business Mathematics- Jaydeb Sarkhel. 
Taxation for Students—Sanjay Mundhra and Vikash Mundhra

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