Abstract
Reforms in tax regimes should be an integral part as the economies evolve over time. At the same time, it is difficult to resolve multiple objectives and conflicts in complex and large economies like India. Recently an initiative to draft a fresh Income Tax Act has set in motion more intense thought processes to design and suggest provisions and tools for enhancing the Indian Income tax regime. Some thoughts and suggestions on the possibilities are discussed, though no unique solutions are easy or possible.
Keywords: Inome tax reforms, tax regimes, technology driven business and tax, reforming Indian economy, new sources of taxation