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Synopsis This book provides an exhaustive and critical account of the various aspects of the developments in the field of taxation in perspective. Part I of this work traces the structural evolution, explains the legal framework, and describes the present systems of taxation in India. Besides being the main source of revenue, both for the Central and State Governments, taxation is an effective instrument of national policies. There are 7 chapters in this Part which explain different dimensions of Indian taxation. Part II of the book reproduces edited extracts from the reports on taxation published by the Government of India between 1925 and 2006. Recommendations of the various Commissions/Committees/Working Groups on taxation set up by the Government constitute the core of tax policies pursued in India during the last 80 years. Taxation reports included in this volume highlight contemporary issues in India’s public finances and record measures suggested by experts, from time to time, to ensure soundness of public exchaquer. These reports are an authentic and reliable source for the study of economic history of India. Extracts from taxation reports, some of which are not readily accessible, will acquaint the readers with the historical development of Indian taxation. These extracts were selected carefully to reflect the challenges faced by the country, from time to time, to resolve contentious issues in tax policy. The editor has taken the liberty to edit the selected extracts suitably to standardize the running text without, of course, tampering with the meaning and the contents of the passages. Editorial comments are provided at the beginning of each report. Part III contains time-series data (1950-51 to 2004-05) on tax revenues of Central and State Governments in India. It would be useful for a cross-section of academic community and researchers, both in India and abroad. Part IV consists of 3 Appendices which provide supplementary information related to taxation in India. Part V contains glossary of taxation terms. Section of readership, viz. teachers and students of economics, commerce, law, public administration, business management, chartered accountancy, and company legislators, business executives, entrepreneurs and investors, and others interested in Indian taxation.