A Study of the Indian Tax System - Part I and II

Abstract

A brief examination of history of the development of technology shows that technical advances sometimes outstrip the development of legal systems. This often forces basic principles to be re-examined in light of the new developments. Advances in fields of Information technology, bio technology, ecommerce and outsourcing, for example, have created a host of celebrated legal confusions and debates in recent years. The article outlines main issues in the international taxation of e-commerce transactions with a special emphasis on and South Asian and Middle East jurisdictions. Detailed study on Indian tax system is made under this Part I and Part II of the Paper.

In part I of the series, the Article examines tax statute as is prevalent in the Republic of India with a special emphasis on the tax system in general and powers of tax officers and tax tribunals in specific.

Part II addresses legalities involved in taxation of information technology, e-commerce and biotech companies considering issues involved in international tax including tax treaties.

Keywords: India Tax, International Taxation, Taxation Asia, India Tax Law, India Taxation, Income Tax Act 1961, Taxation of E-commerce in India, Taxation of biotech firms in India, Powers of tax officers in India, Powers of Assessing officer, Powers of CIT, Powers of Indian Income tax Tribunals, Sunil Thacker

JEL Classification: H20, K34, K33