• Gaurav Shukla
• Shweta Srivastava

Indian economy is undergoing a transformational change in the last few decades which lead to the requirement of reforms in tax system in India. In the era of increasing globalization it is very crucial to have an effective and efficient tax structure to increase revenue, reduce economic distortions, and creating a competitive economic environment. In the complex tax machinery in India tax reform is the need of an hour. The major issues in tax reforms are Simplifying complexity in present tax system, reducing multiple layers of tax levy and tax collection cost, suggesting ways to get rid of tax evasions. With the necessity for above tax reforms, a proposal for imposition of single tax called Bank Transaction Tax (BTT) was proposed. The present paper is critical appraisal of imposition of Bank Transaction Tax in India. The paper attempts to review the challenges and opportunities to the government for the practical implications of BTT as well as its impact on salaried individuals and business and industry.

Tax reforms, BTT( Bank Transaction Tax), Tax Evasion, Money Laundering

"Bank Transaction Tax : An approach to tax reform in India -a clinical review", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 8, page no.g131-g139, August-2022, Available :http://www.jetir.org/papers/JETIR2208620.pdf

"Bank Transaction Tax : An approach to tax reform in India -a clinical review", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 8, page no. ppg131-g139, August-2022, Available at : http://www.jetir.org/papers/JETIR2208620.pdf