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Hiral Jain

Stealth • 2m

Arey Mubarak Ho aapki lottery lagi hai, woh bhi 1cr kii!! We call this transfer payment in economics, it means the income that a person gets without providing service/goods. We all know that all of our income is calculated in national income irrespective of the fact whether we received it or not, but here is the twist it also excludes all the transfer payments that a person receives. Secondly, we all pay taxes on our income transfer payments also, But the mystery is you will pay tax on your lottery as it's your income but it won't be counted in national income. So there you have it, a little insight upon transfer payment and taxes. Until next time!

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Replies (4)

Shabrez

Stealth • 2m

I doesn't understand, Y none of the economist raise the question on this. There is huge financial fraud rules are in the department. Think slightly, if ur paying tax on ur income as u earn and ur the Indian which is good. Now I got the salary cutting the tax, should I pay GST for film, food at restaurant, goods that I buy? Every where I go its totally a taxed environment and that to non - refundable.

1 replies1 like