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Aman Verma

BIT'Mesra Undergrad|... • 1y

Who are actually middle class of India ? I am really confused to get the ideal answer of it. Because in village there is only a class that is caste... Most of the rich (as per village standard having acres of land, home, Cars, and non tax incom

Naveen Ramakrishna

Collaboration Create... • 1y

Forget about Economics in general terms the people who strive hard to save penny for their children education sacrificing their needs and health also making kids future to be safe and spent lot of work and time on it they die in poor but their sons a

Aman Verma

BIT'Mesra Undergrad|... • 1y

I agree... But I think mainly salaried class is more in Middle class and pay the taxes more even on their earnings and while buying end product as well.

Naveen Ramakrishna

Collaboration Create... • 1y

That's the sin of middle class but most of the middle class people not pay taxes their sons and daughters will be paying it due to settled job and life they take over from their parents. India just have 10% of salaried tax payers genuinely 5℅ direct

Aman Verma

BIT'Mesra Undergrad|... • 1y

Here I agree a lot's... And their is too much misunderstanding due to which most of the people India don't pay taxes... There should be upgradation in tax slab and geniune tax collection.

2 Replies

Replies (2)

Naveen Ramakrishna

Collaboration Create... • 1y

Earnings 5LPA IN THAT MOST OF PEOPLE DON'T HAVE 1000₹ SAVINGS IN THEIR BANK ACCOUNT ALSO HOW THAT PEOPLE WILL ELIGIBLE TO PAY TAXES THIS SHOULD BE REFORMED AND INCLUSIONS NEEDS TO BE DONE IN TERMS OF PERSONAL EXPENDITURE INCLUSION OF PAYING PERSONAL LOANS INTEREST, AUTO LOAN INTEREST, CONSUMER LOAN INTEREST, ETC THE PEOPLE ARE CHARGED THRICE FOR A PARTICULAR AMOUNT WHICH ALREADY PAID IF ANYONE TAKING AUTO LOAN THEY HAVE DEDUCTED TAX AND CHARGES FOR PROCESSING AGAIN THEY NEED TO PAY GST WHILE TAKING CAR/BIKE WHILE PAYING INTEREST HIS ERANINGS ARE GONE BUT THEY ELIGIBLE TO PAY TAX FOR HAVING SALARY INCLUDED IN TAXLSLABS FUNNY TAXING RIGHT

Naveen Ramakrishna

Collaboration Create... • 1y

Yes

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Mahendra Lochhab

Content creator • 7m

New Tax slab: 0-4L-0% 4-8L-5% 8-12L-10% 12-16L-15% 16-20L-20% 20-24L-25% 24L+30% People with income up to 12L will pay 0% income tax.

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Anonymous

Hey I am on Medial • 7m

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

Account Deleted

Hey I am on Medial • 4m

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?

2 Replies

Ashutosh Mishra

Chartered Accountant • 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

2 Replies

Gokul sai ATTULURI
•

Audisankara College of Engineering and Technology • 1y

Can anyone explain these to me we buy car and pay taxes on it and also pay toll tax on it and again use petrol which is taxed why are we paying these? Can anyone explain.

4 Replies

Vipul Bansal

Parter@Finshark Advi... • 8m

Simplifying Taxes on Stock Trading: FY 2024-25 🧾📊 Taxes on stock trading can feel daunting, but a clear understanding helps you keep more of your gains! Here's an easy-to-follow guide: 📈 Long-Term Trading - ⏳ Holding Period: Over 12 months

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CA Kakul Gupta

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Summary of action points Before March 31, 2025 ✔ Review tax-saving investments. ✔ Pay pending taxes/advance tax. ✔ Submit investment proofs to employer (if salaried). ✔ Plan capital gains/losses for tax efficiency. ✔ Update financial records for the

1 Reply

Hawk
•

Medial • 19d

💡 Did you know that only 5–6% of Indians actually pay income tax? Of the 7.4 crore returns filed in 2022–23, nearly 70% had zero tax liability. That leaves a thin slice of the population, mostly salaried middle class professionals who are bearing t

CA Dipika Pathak

Partner at D P S A &... • 1y

Here’s a real- lesson from July 2024: Many salaried employees, while filing their ITR, realized too late that they had missed out on crucial tax planning and investment opportunities because the financial year had already closed. Don’t let this hap

Hiral Jain

CA inter • 1y

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