Acta Scientific Gastrointestinal Disorders (ASGIS)(ISSN: 2582-1091)

Review Article Volume 6 Issue 8

Wealth and Tax in India: A Human Right Concern

Swati Chakraborty*

Assistant Professor, GLA University; Writing Fellow, COMPOSE, Universitas Islam International, Indonesia International; Fellow, KAICIID, Portugal and Founder, Webplatform4Dialogue, India

*Corresponding Author: Swati Chakraborty, Assistant Professor, GLA University; Writing Fellow, COMPOSE, Universitas Islam International, Indonesia International; Fellow, KAICIID, Portugal and Founder, Webplatform4Dialogue, India.

Received: May 29, 2023; Published: July 12, 2023

Abstract

Wealth and tax are important issues in India, and they are closely related to the concept of human rights. The Indian government has a responsibility to ensure that its citizens have access to basic necessities such as food, shelter, and healthcare and that these needs are met through fair and just taxation policies. However, there are concerns that the current tax system in India does not always meet these standards, and that the wealthy are not always paying their fair share. This can lead to increased poverty and inequality, which can have a negative impact on human rights in the country. It is important for the government to take steps to address these issues in order to promote a more just and equitable society.

The tax system in India is designed to redistribute wealth and promote economic equality. The main tool for this is the progressive income tax, where individuals and businesses are taxed at a higher rate as their income increases. The government also provides various tax exemptions, deductions, and credits to lower-income individuals and families to help them meet their basic needs. Additionally, the government has implemented various welfare programs, such as food and housing subsidies, to help those in need.

However, there are concerns that the current tax system in India is not always effective in redistributing wealth and promoting economic equality. Some argue that the tax system is not progressive enough, as the wealthy are able to avoid paying their fair share through loopholes and tax havens. Additionally, tax evasion and avoidance by businesses and the wealthy is a widespread problem in India. This results in lower revenue for the government, which in turn affects the funding of welfare and development programs.

Overall, the tax system in India is intended to redistribute wealth and promote economic equality, but there are challenges in ensuring that this goal is met in practice. The government continues to take steps to address these issues and improve the tax system to make it fairer and more effective.

 Keywords: Wealth Distribution; Tax System; Human Rights

References

  1. Office of the United Nations High Commissioner for Human Rights (OHCHR). International Covenant on Economic, Social and Cultural Rights’ (2023).
  2. Article 27 ICESCR.
  3. Vienna Convention on the law of the treaties concluded in Vienna on 23 May 1969, preamble.
  4. Article 2(1) ICESCR states that “Each State Party to the present Covenant undertakes to take steps, individually and through international assistance and co-operation, especially economic and technical, to the maximum of its available resources, with a view to achieving progressively the full realization of the rights recognized in the present Covenant by all appropriate means, including particularly the adoption of legislative measures”.
  5. Express News Service. “[Indian express.com "LBT all but abolished, state's kitty poorer]”. Indian Express. (2015).
  6. Datta Abhijit. Local Government Finances: Trends, Issues and Reforms, in Bagchi, Amaresh., et al. (Eds.), State Finances in India, New Delhi: Vikas Publishing House for the NIPFP (1992).
  7. Market Capital. "Simplified Central Excise norms for Jewellery Sector notified", Business Standard (2016).
  8. Piketty Thomas and Qian Nancy. "Income Inequality and Progressive Income Taxation in China and India, 1986–2015". American Economic Journal: Applied Economics2 (2015): 53-63.
  9. "Taxation of Wealth" See. Charles Edward Andrew Lincoln IV, Is Incorporation Really Better Than Central Management and Control for Testing Corporate Residency?” An Answer to Corporate Tax Evasion and Inversion, 43 Ohio N.U.L. Rev. 359 (2017).
  10. Sarkar Sukanta. "The parallel economy in India: causes, impacts and government initiatives". Economic Journal of Development Issues 1-2 (2010): 124-134.
  11. Edward N Wolff. "Time for a Wealth Tax?", Boston Review, Feb–Mar 1996 (recommending a net wealth tax for the US of 0.05% for the first $100,000 in assets to 0.3% for assets over $1,000,000.

Citation

Citation: Swati Chakraborty. “Wealth and Tax in India: A Human Right Concern". Acta Scientific Gastrointestinal Disorders 6.8 (2023): 04-08.

Copyright

Copyright: © 2023 Swati Chakraborty. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.




Metrics

Acceptance rate35%
Acceptance to publication20-30 days

Indexed In




News and Events


  • Certification for Review
    Acta Scientific certifies the Editors/reviewers for their review done towards the assigned articles of the respective journals.
  • Submission Timeline for Upcoming Issue
    The last date for submission of articles for regular Issues is July 10, 2024.
  • Publication Certificate
    Authors will be issued a "Publication Certificate" as a mark of appreciation for publishing their work.
  • Best Article of the Issue
    The Editors will elect one Best Article after each issue release. The authors of this article will be provided with a certificate of "Best Article of the Issue"
  • Welcoming Article Submission
    Acta Scientific delightfully welcomes active researchers for submission of articles towards the upcoming issue of respective journals.

Contact US