Greetings everyone!
Let's learn about our tax system!
The Indian tax system is divided into two categories: Direct (income tax) and Indirect (GST)it's an unfair tax tbh.
It's because everyone pays the same tax regardless of their income. For example
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Arcane
Hey, I'm on Medial • 1y
Tax collections for the Govt can be much higher if they are through GST as we don't think of it while paying, while that's not the case with Income Tax.
I wonder what type of Taxation system would work the best in India ?!
Greetings everyone!
Let's learn about our tax system!
The Indian tax system is divided into two categories: Direct (income tax) and Indirect (GST)it's an unfair tax tbh.
It's because everyone pays the same tax regardless of their income. For example
India's Biggest Tax Contributors...
Personal income tax is still India's biggest tax contributiors, accounts for more than 30% of total tax collections
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
mg
News & updates • 2d
Just 1% of Indians are paying 80% of the Nation's income tax
2 replies7 likes
Prem Siddhapura
Unicorn is coming so... • 6m
**Tax Revenue Hits Record Highs** 📈
The government’s net direct tax collection, post-refunds, surged 15.4% to ₹12.3 lakh crore between April and November 10, 2024. Gross collections also saw a robust 21.2% increase, reaching ₹15.02 lakh crore. 💰
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0 replies3 likes
Ashutosh Mishra
Chartered Accountant • 8m
Direct Tax collections for FY 2024-25 as of 17 September, 2024
Net Collections, YOY comparison
Corporate Tax : ₹4.53 lakh crore, up 10.5%
Personal Income Tax : ₹5.15 lakh crore, up 18.8%
STT : ₹26,154 crore, up 96%
Other Taxes : ₹1,812 crore, up
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1 replies5 likes
Vamshi krishna Nayini
Hey I am on Medial • 5m
Plain popcorn: 5% GST.
Salted popcorn: 12% GST.
Caramel popcorn: 18% GST.
This is the state of taxation in India! As a tech business owner, how can we thrive in an environment with such irrational policies? India is already ranked 1st worldwid
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4 replies5 likes
Chamarti Sreekar
Passionate about Pos... • 8d
BCCI's profit is tax-free under Section 12A of the Income Tax Act, whereas IPL tickets bought by fans are subject to 28% GST.
0 replies9 likes
Rishabh Jain
Start loving figures... • 4m
Is India Taxing Too Much Fun? (POPCORN TAX)
India’s tax system has gone global thanks to the popcorn taxation buzz. While we’ve made strides with reforms like GST and corporate tax cuts, quirky rules and compliance hurdles can sometimes leave foreig
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0 replies6 likes
CA Saloni Jaroli
Grow & Glow • 2m
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