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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

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

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?

Taxes on IPL tournaments: ZERO % Taxes on Research & Development: 18 % Tax on IPL tickets for common people 18% + GST 28% + Entertainment Tax Shows the messed-up priorities in this country !

Financial knowledge Indian Tax slabs Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown: 1. Nil Tax: Annual income up to ₹2.5 lakh for individuals below 60 years. 2. 5% Tax: I

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

💡 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

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

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.

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.