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One Tax Policy: A New Era of Taxation in India? What if income tax was the only tax you had to pay? A system where individuals pay a fixed percentage of their income as tax, and in return, they are exempt from all indirect taxes like GST and service tax. However, those who donโt pay income tax would still be subject to indirect taxes on goods and services. This could revolutionize tax compliance and incentivize more people to declare their income. But is it a sustainable model for Indiaโs economy? Potential Benefits: โ Higher Compliance โ Simplified Taxation โ Reduced Burden on Businesses โ Exclusive Benefits for Taxpayers Possible Challenges: โ ๏ธ Revenue Balance โ ๏ธ Wealth Disparity โ ๏ธ Tax Collection Efficiency Would this "One Tax Policy" make taxation more efficient or create new challenges? Could this be India's future tax model? Letโs discuss! Drop your thoughts in the comments. โฌ๏ธ #TaxReform #OneTaxPolicy #India #Economy
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๐ Everything You Need to Know About TAX AUDIT in Just 5 Minutes! ๐๐ก ๐ What is a Tax Audit? A tax audit is a detailed examination of a taxpayerโs books of accounts to verify: โ Income & Deductions โ Compliance with the Income Tax Act, 1961 โ Prop
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Chartered Accountantย โขย 1y
GST Thread 2 What GST brings along with it - 1. Value added tax and no cascading of taxes - GST is only on the value added by the manufacturer and being a value added tax at each stage it avoids double taxation Example - If I purchase plastic fr
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Smart Tax Planning = More Savings & Zero Stress! Are you overpaying taxes or struggling with compliance? Many high-income individuals and large businesses miss out on legal tax-saving opportunities and end up paying more than necessary. At Saloni J
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Is India Taxing Too Much Fun? (POPCORN TAX) Indiaโs tax system has gone global thanks to the popcorn taxation buzz. While weโve made strides with reforms like GST and corporate tax cuts, quirky rules and compliance hurdles can sometimes leave foreig
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Content Writerย โขย 8m
India Union Budget 2025 Highlights ๐ Taxation Reforms: โ Income tax exemption limit raised to โน12 lakh (up from โน7 lakh) โ Revised tax slabs for incomes above โน12 lakh to simplify structure and reduce burden ๐พ Agriculture Boost: โ New 6-year miss
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