🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

News

Messages

Try our Valuation Calculator →

Back

CA Jasmeet Singh

In God We Trust, The... • 2m

🚨 Breaking Tax News: The TCS Chronicles – April 2025 Edition 🚨 Brace yourselves, tax enthusiasts! The Finance Ministry has rolled out a new TCS (Tax Collection at Source) rule that's turning heads and emptying wallets. Effective April 22, 2025, certain luxury items now come with a 1% TCS tag. So, if you're planning to splurge, here's what's on the government's radar: 🎩 Luxury Items Now Under TCS Scanner: 1. ⌚ Wristwatches – Time is money, and now it's taxed too! 2. 🎨 Artworks – That antique painting? It's a taxing masterpiece. 3. 🪙 Collectibles – Coins and stamps now come with a side of tax. 4. 🚁 Yachts & Helicopters – Flying high? So are the taxes. 5. 🕶️ Sunglasses – Shady deals now officially taxed. 6. 👜 Handbags & Purses – Carrying more than just essentials now. 7. 👟 Shoes – Walking into a 1% tax. 8. 🏌️ Sports Equipment – Golf kits and ski wear sliding into the tax bracket. 9. 🎬 Home Theatres – Movie nights just got a bit pricier. 10. 🐎 Race Horses – Betting on taxes? Neigh! 💰 The Fine Print: Threshold: TCS applies to single items exceeding ₹10 lakh. Rate: A flat 1% TCS on the sale price. Effective Date: April 22, 2025. So, next time you're eyeing that luxury purchase, remember: the taxman might be watching. Or as they say, "In this world, nothing is certain except death and taxes... and now, taxed handbags." Stay informed, stay compliant, and maybe reconsider that gold-plated yacht. #TaxHumor #TCS2025 #FinanceFun #StayCompliant #LuxuryTaxLaughs

Recommendations from Medial

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

Amit Kumar

Make it work, make i... • 10m

How do startup save taxes? I've heard the have tax benefits..

5 Replies

Chamarti Sreekar

Passionate about Pos... • 2m

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 !

4 Replies

mg

mysterious guy • 2m

Taxpayer earns ₹1 → Govt takes 31.2%. He buys a product → Add 5 to 28% GST. Spends on fuel → 50% tax. Saves money → Taxed again. But no, he’s not oppressed.

6 Replies

Sanjay Srivastav. Footwear Designer

Hey I am on Medial • 5m

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

4 Replies

Hiral Jain

Content writer • 5m

In the financial year 2025, the direct tax revenue has hit an impressive ₹16.9 lakh crore! Here’s the breakdown: - Personal tax contributes ₹8.7 lakh crore - Corporate tax is at an astounding ₹27.7 lakh crore - Securities transaction tax stands at ₹

9 Replies

CA Kakul Gupta

Chartered Accountant... • 3m

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

Mahendra Lochhab

Content creator • 11m

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

Chamarti Sreekar

Passionate about Pos... • 1m

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