What’s happening here why 28% GST on two wheelers and cements.Even drinking water has 18% 🤦♂️Now affording bikes and building homes will get expensive what Will middle class people do.Seriously I don’t know why is this happening
PRATHAM
•
Medial • 11m
Wah! Ab to sab chez me tax lagado!
What's wrong man! It's just not fair, already the per capita income is low and then high income tax and other taxes and now this!
This is how India will become $5 trillion economy
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?
India in coming 10-12 years-
- Size of economy - from $3.8 trillion to $10t
- Per capita income- from $2500 to $6000-7000
- Discretionary spending- from $500-600 to $3000
- Infra spending- from $200-250b to $650-700b
- Equity Investors- 5-6% to 15%.
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
India is 5th largest economy in the world
But why India's Nomial per capita income Ranking stands at 136th place
What's the problem
2 replies5 likes
Ashutosh Mishra
Chartered Accountant • 11m
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 magic • 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
Mahendra Lochhab
Content creator • 10m
HOW GOVERNMENT OF INDIA EARNS ITS 100 RUPEES
Based on Earnings from different departments
₹27 - Borrowings & other liabilities
₹19 - Income Tax
₹18 - GST & Other Taxes
₹17 - Corporate Tax
₹9 - Non-Tax Receipts
₹5 - Union Excise Duties
₹4 - Cus
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0 replies8 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
Karunakar
Start, Build, Scale • 4m
Revised Income Tax Slabs under the New Regime (FY 2025-26):
Annual Income (₹) Tax Rate
0 – 1,200,000 = 0%
1,200,001 – 1,500,000 = 5%
1,500,001 – 2,000,000 =10%
2,000,001 – 2,500,000 =15%
2,500,001 – 3,000,000 =20%
Above 3,000,000
The Central Board of Direct Taxes (CBDT) has specified that no tax deduction at source (TDS) under Section 194Q of the Income Tax Act, 1961, will be required for purchases made from units of International Financial Services Centres (IFSC), provided b
