The committee which has recommended abolition of Tax Rebates under Section – 88 of the Income Tax Act of India, is

The correct answer is (b), Kelkar Committee.

The Kelkar Committee was a committee set up by the Government of India in 2000 to review the Indian tax system. The committee recommended a number of reforms, including the abolition of tax rebates under Section – 88 of the Income Tax Act of India.

The committee argued that tax rebates were inefficient and inequitable. They were inefficient because they did not target the poor effectively. They were inequitable because they benefited the rich more than the poor.

The committee recommended that tax rebates be replaced by a system of direct transfers to the poor. This would be more efficient and equitable, and it would also help to reduce the fiscal deficit.

The government accepted the committee’s recommendations, and tax rebates were abolished in 2005.

The other options are incorrect.

(a) The Chelliah Committee was a committee set up by the Government of India in 1972 to review the Indian tax system. The committee recommended a number of reforms, including the introduction of a new income tax system. However, the committee did not recommend the abolition of tax rebates.

(c) The Shome Committee was a committee set up by the Government of India in 1991 to review the Indian tax system. The committee recommended a number of reforms, including the introduction of a new indirect tax system. However, the committee did not recommend the abolition of tax rebates.

(d) The Rangarajan Committee was a committee set up by the Government of India in 2008 to review the Indian tax system. The committee recommended a number of reforms, including the introduction of a new goods and services tax (GST). However, the committee did not recommend the abolition of tax rebates.