BANKING GENERAL KNOWLEDGE
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Question
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Tax Structure Reforms
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Delisting in Share market
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Broad Frame work of Insurance Sector
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Company Law Reforms
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Detailed explanation-1: -Kelkar Committee has recommended a clean sweep of tax administration and tax exemptions. The recommendations, inter alia, include 20% levy of tax on income between Rs. 1 lakh to Rs. 4 lakh and 30% tax on income above Rs.
Detailed explanation-2: -Kelkar Committee recommended sharp reduction in subsidies on fuel, food & fertiliser, that the govt said was contrary to its policy.
Detailed explanation-3: -The main recommendations of this task force related to the direct taxes related to increasing the income tax exemption limit, rationalization of exemptions, abolition of long term capital gains tax, abolition of wealth tax etc.
Detailed explanation-4: -Explanation: Kelkar Committee Report is associated with Revisiting and Revitalizing the PPP model of Infrastructure Development. The committee submitted its report to the Finance Ministry in November 2015.
Detailed explanation-5: -Tax Reform Committee The Government of India set up a high-powered committee in August 1991, under the chairmanship of Dr Raja J Chelliah. The committee made recommendations for a comprehensive reform of the system of central taxes. Tax Reform Committee is also known as the Raja Chelliah Committee.