The States demanded the inclusion of corporation tax into the divisible income tax and 1005 allocation of the net proceeds to them. The commission expressed that such inclusion was constitutionally forbidden but it can be reviewed by National Development Council.
States share was increased from 75% to 80% due to the decrease in the divisible pool as the arrears of the advance tax collection had been cleared
In view of the increasing integration of the national economy and for eliminating the regional imbalances the contribution factor was kept at 10% in the distribution of share amongst the states. The distribution inter se the states should be on the basis of fixed percentages
Out of the net proceeds of the income tax, 1.79% should be allocated to the Union Territories
Referencesedit
^Fourteenth Finance Commission. "Members of the previous Finance Commissions:Sixth Finance Commission". Retrieved 22 July 2017.
Further referencesedit
Sansar Singh Janjua (1999). Centre State Financial Relations in India and Finance Commission. New Delhi, India: Anmol Publications. ISBN8126102233.
"Finance Commission India". New Delhi, India: Fourteenth Finance Commission. Retrieved 22 July 2017.
April 12, 2024
sixth, finance, commission, india, incorporated, year, 1973, consisting, shri, brahmananda, reddy, chairman, contents, members, recommendations, references, further, referencesmembers, editthe, members, commission, were, shri, brahmananda, reddy, chairman, shr. The Sixth Finance Commission of India was incorporated in the year 1973 consisting of Shri K Brahmananda Reddy as the chairman Contents 1 Members 2 Recommendations 3 References 3 1 Further referencesMembers editThe members of the commission were 1 Shri K Brahmananda Reddy Chairman Shri Justice Syed Sadat Abal Masud Dr B S Minhas Dr I S Gulati Shri G Ramachandran Member SecretaryRecommendations editThe States demanded the inclusion of corporation tax into the divisible income tax and 1005 allocation of the net proceeds to them The commission expressed that such inclusion was constitutionally forbidden but it can be reviewed by National Development Council States share was increased from 75 to 80 due to the decrease in the divisible pool as the arrears of the advance tax collection had been cleared In view of the increasing integration of the national economy and for eliminating the regional imbalances the contribution factor was kept at 10 in the distribution of share amongst the states The distribution inter se the states should be on the basis of fixed percentages Out of the net proceeds of the income tax 1 79 should be allocated to the Union TerritoriesReferences edit Fourteenth Finance Commission Members of the previous Finance Commissions Sixth Finance Commission Retrieved 22 July 2017 Further references edit Sansar Singh Janjua 1999 Centre State Financial Relations in India and Finance Commission New Delhi India Anmol Publications ISBN 8126102233 Finance Commission India New Delhi India Fourteenth Finance Commission Retrieved 22 July 2017 Retrieved from https en wikipedia org w index php title Sixth Finance Commission amp oldid 1205875417, wikipedia, wiki, book, books, library,
