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CA Jasmeet Singh

In God We Trust, The... • 1m

Budget 2025

Havish Gupta

Figuring Out • 1m

Sir, since you are a Ca, I have one question. So since the Gov have reduced taxes, it would reduce tax collection. And i guess, gov's logic is that it would increase disposable income leading to more spending which will cause economic boost. So my

CA Jasmeet Singh

In God We Trust, The... • 1m

Hey Havish, Good Question ! I think as the Government has reduced taxes which has led to revenue loss to government will somehow be recovered by the Government of India. A major chunk of people in India do not pay tax irrespective of the fact they are covered under Income Tax Provisions. I think this scrutinization is going to rise in the near future. Coming to the question that will India succeed in boosting it's economy by enhanced Consumption. I think it can backfire, I will tell you how. Now there is no tax Uptill 12 lakh so easily someone can file their return with higher Turnover and profits or salary (Bogus). Banks will provide loans to people through these ITR's and consequently the people with very low paying capacity will easily get loans and not paying the loan back can lead to a crisis for India. This is my personal Opinion that there can be havoc by this Credit enhancement.

1 replies3 likes

Replies (1)

Havish Gupta

Figuring Out • 1m

Understood. That would really be a big issue. Maybe checking bank statements would help in it, but today when getting loans is super quick because of Fintech starups(who just chek credit score and income). It's really gonna be hard to fight back. Anyways, thanks a lot for answering my question.

1 replies1 like

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Anonymous

Hey I am on Medial • 8m

I think next civil war in India happens because of tax . We are facing this huge problem since 1947 and every government force only middle class people's for tax . According to reports only 3.5% people in India paying tax and other are just enjoying

YES , I will participate

NO , it's dangerous

Votes: 67

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Sanjay Srivastav. Footwear Designer

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Government to introduce a new tax regime where people will be taxed based on the salary they tell their relatives #income_Tax

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Government initiatives like 'Startup India' have been pivotal. They provide tax benefits, easier compliance, and funding opportunities. The Atal Innovation Mission and Startup India Seed Fund Scheme are boosting innovation across the country.

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Hiral Jain

Content writer • 9m

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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A sin tax is an excise tax levied on goods and services like tobacco, alcohol and gambling, which are deemed harmful to people. The tax aims to reduce or eliminate the use of such products by making them more expensive to buy. The government is expec

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DRIPNINE medical technologies

Hey I am on Medial • 9m

Can anyone tell me What are the government Bank loans available through schemes for a Private limited to initiate a manufacturing unit ? Or business

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Anonymous

Hey I am on Medial • 7m

🥳 Great news for entrepreneurs , Modi Government decided to remove angle tax and now people will get investment more smoothly also this will help early stage startup and new investors .

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sunny

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It's time for India to introduce cleaning police, I don't know how the government will finance it but it's urgently required.

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Sanjay Srivastav. Footwear Designer

Hey I am on Medial • 1m

Of course the value of money has changed but it's a great comparison. It does not show Congress taxed the rich btw. Nobody was paying 97.5% tax. They were just paying bribes to Congress to keep money black. That's how they destroyed our economy.