Tax System
Manu Smriti and Arthshastra are the foundations of Indian taxation. The old tax system that was founded on the principle of maximal social welfare is the foundation of the current Indian tax system.
- Manu Smriti asserts that the king should organise tax collection such that taxpaying citizens do not experience financial hardship. According to his decree, artisans and traders were required to pay 1/5th of their profits in silver and gold, while farmers were required to pay 1/6th, 1/8th, and 1/10th of their harvest depending on their individual circumstances.
- Kautilya has also described in great detail the system of tax ....
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