A Comparative Study of Indian and Federal (US) Income Tax Laws with reference to Individual Assessee.

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    • Subject Terms:
      INDIA; UNITED States
    • Abstract:
      The article discusses a study which aimed to compare the income tax law of India and the U.S. in order to overcome the avoidable mistakes in tax policy's design, implementation and administration. It also compared the procedure adopted for computing taxable income in both countries as well as the time burden and the monetary compliance cost of personal income taxation in India and the U.S. The responsiveness of tax rate changes on income declaration by the taxpayers in India is also explored.