The Fourth Finance Commission of India was constituted on 18 May 1964, under the chairmanship of Dr. P. V. Rajamannar.

Members

The members of the Commission were: * Dr. P. V. Rajamannar, Chairman * Shri

Mohan Lal Gautam Mohan may refer to: People * Mohan Shumsher JBR, Former prime minister of Nepal * Mohan (actor) (born 1956), Indian film actor * Mohan (director), Indian director of Malayalam films * Mohan (name), a name generally found among Hindus * Mohan ( ...

* Shri D.G. Karve * Prof.

Bhabatosh Datta Bhabatosh Datta (21 February 1911 – 11 January 1997) was a noted Indian economist, academic and writer. He taught at Chittagong College and later became Professor of Economics, Presidency College, Kolkata, where he later Emeritus Professor. ...

* Shri P.C. Mathew, Member Secretary The Commission suggested in its report that there should be greater co-ordination between the Centre and the States in common financial interests for which it recommended the establishment of a permanent organization in the

Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Eco ...

Recommendations

* Tax sharing and allocation of

income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...

and Union

Excise Duties file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when ...

. * Grants-in–aid to States in need of assistance, having regard to: # The revenue resources of States for five years ending with 1970-1971 on the basis of the levels of taxation likely to be reached at the end of 1965-66; # Creation of a fund out of

Estate Duty An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an es ...

proceeds over a specified limit, for repayment of State’s debt to the centre; and # Scope for economy with efficiency in States’ administrative expenditure. * The changes to be made in the principles governing the distribution amongst the States of the grant to be made available to the States in lieu of taxes on railway fares; * To study the combined incidence of

Sales Tax A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a govern ...

and Union Excise Duties on the production, consumption or export of products, the duties on which are shareable with the State. * The changes to be made in the principles governing the distribution of the net proceeds in any financial year of the additional excise duties levied on commodities - namely

cotton Cotton is a soft, fluffy staple fiber that grows in a boll, or protective case, around the seeds of the cotton plants of the genus ''Gossypium'' in the mallow family Malvaceae. The fiber is almost pure cellulose, and can contain minor perce ...

fabrics,

silk Silk is a natural protein fiber, some forms of which can be woven into textiles. The protein fiber of silk is composed mainly of fibroin and is produced by certain insect larvae to form cocoons. The best-known silk is obtained from the coc ...

fabrics,

woolen Woolen (American English) or woollen (Commonwealth English) is a type of yarn made from carded wool. Woolen yarn is soft, light, stretchy, and full of air. It is thus a good insulator, and makes a good knitting yarn. Woolen yarn is in contrast t ...

fabrics,

sugar Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose, fructose, and galactose. Compound sugars, also called disaccharides or double ...

and

tobacco Tobacco is the common name of several plants in the genus '' Nicotiana'' of the family Solanaceae, and the general term for any product prepared from the cured leaves of these plants. More than 70 species of tobacco are known, but the ...

- in replacement in the States’ tax formerly levied by the state governments.

References

Further References

* * Finance Commission of India 1964 establishments in India {{Finance Commission of India