Many of you have know that only less than 5% population in india, pays taxes. But there is reason for it. According to this economic times report, only 1.8 crore people earn more than 5 lakhs annually (~2%). And if you earn less than 5 lakhs, you leg
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Anonymous 1
Hey I am on Medialย โขย 1y
Its just income tax, rest commodity taxes and service taxes are being already included in Mrp
HOW GOVERNMENT OF INDIA EARNS ITS 100 RUPEES
Based on Earnings from different departments
โน27 - Borrowings & other liabilities
โน19 - Income Tax
โน18 - GST & Other Taxes
โน17 - Corporate Tax
โน9 - Non-Tax Receipts
โน5 - Union Excise Duties
โน4 - Cus
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0 replies8 likes
Chamarti Sreekar
Passionate about Pos...ย โขย 18d
For a 1 crore income,
A farmer pays zero taxes.
A street vendor pays zero taxes.
A corporate pays 25L on profits.
A salaried employee pays 31L tax on income.
When will everyone pay their fair share of taxes?
any ideas how can it be fixed?
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
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0 replies1 like
Chandan Yadav
Hey I am on Medialย โขย 4m
What's your view on Income Tax?
I am just frustated with this tax system๐
16 replies14 likes
Ashutosh Mishra
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
Income Tax Old Regime vs New Regime
All individuals should calculate their income according to both the old regime and the new regime. Thereafter, they should choose the scheme that results in lower taxes.
1 replies5 likes
Vishu Bheda
AI did the magicย โขย 1y
What's a scam that's so normalized that we don't even realize it's a scam anymore?
Me- Taxes. Once you tax the income, why is there a tax again in the name of GST?
Whatever the shop / company earns they can give it as income tax.
This approach n
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0 replies9 likes
Ashutosh Mishra
Chartered Accountantย โขย 8m
Direct Tax collections for FY 2024-25 as of 17 September, 2024
Net Collections, YOY comparison
Corporate Tax : โน4.53 lakh crore, up 10.5%
Personal Income Tax : โน5.15 lakh crore, up 18.8%
STT : โน26,154 crore, up 96%
Other Taxes : โน1,812 crore, up
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1 replies5 likes
mg
News & updatesย โขย 1d
Just 1% of Indians are paying 80% of the Nation's income tax
โI have been earning around 10 LPA (lakhs per annum), but a significant portion of my income is being deducted as taxes. Iโm unsure about what steps to take. Could you please provide some tips on how I can minimize my tax liability and save more mone
