Who was the chairman of the Tax Reforms Committee 1991?
Show answer & explanation
Correct answer: C
Explanation
Raja J. Chelliah was the chairman of the Tax Reforms Committee of 1991.
This committee was formed during the 1991 economic reforms in India to simplify and make the tax system more effective. Prof. Chelliah is also known as the "Father of Tax Reforms" in India.
The committee's main recommendations:
Reduction in tax rates: Reducing income tax and corporate tax rates to increase tax compliance.
Expanding the tax base: Bringing more people and services under the tax net.
Reduction in customs duties: Reducing import duties to integrate the Indian economy with the global market.
Service Tax: This committee initially recommended the imposition of a service tax in India.