According to the Economic Survey there are several reasons for the low Tax to GDP ratio in India Whi...........

Economic Affairs Tax System

According to the Economic Survey, there are several reasons for the low Tax to GDP ratio in India. Which of the following are mentioned in the Survey?

1. Low population of tax payers

2. Low per capita income

3. High poverty

4.Exemptions and under reporting of income

5. Late imposition of service tax

6. Imposition of service tax on only a few sectors

1,3 and 5 only

2,4 and 6 only

1, 4 and 5 only

All of the above

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Explanation:

All of the above.

High levels of disputes between tax authorities and taxpayers, coupled with low recovery rates of tax arrears, contribute to the low tax-GDP ratio.
India's direct-to-indirect tax ratio (35:65) is lower compared to OECD economies (67:33), impacting revenue generation from direct taxes.