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Author: James Alm
Publisher: World Bank Publications
ISBN:
Category : Stamp duties
Languages : en
Pages : 85
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Book Description
Evidence indicates that the current high duty rates, coupled with weak tax administration, lead to widespread evasion of the tax through underdeclaration. This underdeclaration of property values directly affects collection of other taxes, among them, property taxes and capital gains tax. Moreover, it indirectly affects the collection of all taxes through the impact of underdeclaration on the circulation of black money. Simulations indicate that revenues lost due to a lowering of stamp duty rates closer to international levels are quite likely to be recovered in higher collections of other taxes. However, these taxes would at least in part be collected by other levels of government. So reform could be made a more viable option through appropriately designed intergovernmental transfers.
Author: James Alm
Publisher: World Bank Publications
ISBN:
Category : Stamp duties
Languages : en
Pages : 85
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Book Description
Evidence indicates that the current high duty rates, coupled with weak tax administration, lead to widespread evasion of the tax through underdeclaration. This underdeclaration of property values directly affects collection of other taxes, among them, property taxes and capital gains tax. Moreover, it indirectly affects the collection of all taxes through the impact of underdeclaration on the circulation of black money. Simulations indicate that revenues lost due to a lowering of stamp duty rates closer to international levels are quite likely to be recovered in higher collections of other taxes. However, these taxes would at least in part be collected by other levels of government. So reform could be made a more viable option through appropriately designed intergovernmental transfers.
Author: James Alm
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The authors review the options for reform of stamp duties on immovable property transfers collected by Indian state governments. After briefly reviewing some of the many administrative difficulties experienced with the tax, they turn to an examination of its economic impacts. A review of stamp duties internationally indicates that Indian rates are exceptionally high, at rates often above 10 percent. Most countries' rates are less than 5 percent, including a number of low and middle-income developing countries. With these high rates, the authors find that while the tax has become the third largest revenue source for many Indian states, it imposes high compliance costs on taxpayers, has been subject to a good deal of evasion and fraud, and the distortionary impacts appear to be large, reducing the responsiveness of real estate markets in Indian cities by discouraging transactions essential to the efficient growth of cities. The authors then study the revenue implications of lowering stamp duty rates, which need to be understood if reform is to be viable. Evidence indicates that the current high duty rates, coupled with weak tax administration, lead to widespread evasion of the tax through under-declaration. This under-declaration of property values directly affects collection of other taxes, among them, property taxes and capital gains tax. Moreover, it indirectly affects the collection of all taxes through the impact of under-declaration on the circulation of black money. Simulations indicate that revenues lost due to a lowering of stamp duty rates closer to international levels are quite likely to be recovered in higher collections of other taxes. However, these taxes would at least in part be collected by other levels of government. So reform could be made a more viable option through appropriately designed intergovernmental transfers.
Author: Biswadeb Chatterjee
Publisher: Mittal Publications
ISBN: 9788170996729
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
Author: Adolph Koeppel
Publisher:
ISBN: 9780961377304
Category : Revenue stamps
Languages : en
Pages : 319
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Book Description
Author:
Publisher:
ISBN: 9789386920300
Category :
Languages : en
Pages : 3568
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Book Description
Author: Nikolay Malyavin
Publisher: Bookbaby
ISBN:
Category : Fiction
Languages : en
Pages : 0
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Book Description
This is a story of a young man who is given clues to find the missing money by a hedge fund manager who has been convicted of running a Ponzi scheme.
Author: India. Committee on Financial Sector Reforms
Publisher: SAGE Publications
ISBN: 817829950X
Category : Business & Economics
Languages : en
Pages : 207
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Book Description
While previous reports have focused solely on the ‘big’ issues like capital account convertibility, bank privatization, and priority sector norms, A Hundred Small Steps: Report of the Committee on Financial Sector Reforms goes deep into other areas where reforms are less controversial, but perhaps as important. The report argues that we need a change in mindset for the financial sector, one that recognizes that efficiency, innovation, and value for money are as important for the poor as they are for our new Indian multinationals, and these will come from improved governance, new entry and competition. Indeed the Committee believes that the road to making Mumbai an international financial centre runs through every village in India. The report is divided into separate self-contained chapters; the underlying theme behind all the proposals is the need to enhance inclusion, growth, and stability by allowing players more freedom, even while strengthening the financial and regulatory infrastructure. The role of the government is to create an enabling environment by building sound financial infrastructure. The Committee has focused primarily on broad principles and directions, without entering too much into details of implementation. It emphasizes three important reasons for financial sector reform: to include more Indians in the growth process; to foster growth itself; and to improve financial stability, flexibility, and resilience and thus protect the economy against the kind of turbulence that is affecting the world today. The Committee recognizes this is a difficult time to propose financial sector reforms in India. The near meltdown of the US financial sector seems to be proof that markets and competition do not work. This is clearly the wrong lesson to take from the debacle. The right lesson is that markets and institutions do succumb occasionally to excesses, which is why regulators have to be vigilant. The report argues for skilled regulators who encourage growth and innovation even while working harder to contain risks.
Author: Sanjoy Chakravorty
Publisher: Oxford University Press
ISBN: 0199097674
Category : Social Science
Languages : en
Pages : 244
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Book Description
Land is a subject of great conflict and debate in India. Over the last decade, it has influenced electoral verdicts and political fortunes and remains one of the most persistent challenges facing the nation. This book argues that the focus on politics and land acquisition has deflected attention from the possibilities of market-oriented approaches that are becoming relevant because of booming, but diverse, land markets. It aims to nudge the discussion towards a better understanding of the complementary strengths of state- and market-led approaches to the many problems of land in rural and urban India. Featuring original essays from leading analysts, this book examines the agrarian crisis and urbanization, laws and policies, displacement and compensation, factories and housing, cooperation and conflict, and other vital issues affecting land at the regional and national level. These multiple lines of enquiry make this book a critical and objective commentary on contemporary India and its ongoing economic, socio-political, and legal struggles with land.
Author: Gena C.B.
Publisher: Vikas Publishing House
ISBN: 9780706987782
Category : Art
Languages : en
Pages : 816
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Book Description
This edition of Indian Government and Politics has been very thoroughly revised and recast. The politics of the country has moved so fast that such an exercise becomes absolutely essential. Most of the chapters have been done up afresh: new material has been added and old arrangement has been recast. The author has attempted to bring the book fully upto date, so that it could be used by teachers and students with great profit.
Author: Shiva Chaudhari
Publisher: Educreation Publishing
ISBN:
Category : Self-Help
Languages : en
Pages : 433
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Book Description
The real estate sector in India has come a long way by becoming one of the fastest growing markets in the world. It has not only attracted domestic real estate developers, but also foreign investors. However, the sector was unregulated and unorganized for long years, but after recent reforms it is emerging as a mature, professional and regulated sector. The Real Estate (Regulation and Development) Act 2016 is a landmark law in the history of Indian real estate sector and will bring more transparency and accountability of developers into the system and will increase consumer confidence. RERA for Everyone explains Real Estate (Regulation and Development) Act 2016 along with rules in simple language. This book serves as a consultant to developers, home buyers and estate agents in dealing with real property. This book also covers other applicable laws in real estate sector in addition to the stamp duty and registration. It will also serve as checklist while applying for registration, renewal as well as execution of sale deed by the developers. This book is divided into three parts for easy reference. Where first part covers central act, second part covers rules made under the Act and last part covers guideline on stamp duty & registration. Why this book? Explains legal provisions in common English by way of comments. Provides cross reference for better understanding. Specific guidance is provided for home buyers. Stamp Duty & Registration of documents are explained as a guide to readers. Readymade forms for different types of applications
