Tech guy with a busi...ย โขย 1m
How You Pay the Price, Even Without Taking a Loan When the RBI cuts repo rates, the first thing people hear is: โGreat, loans will become cheaper.โ Thatโs true but what most people donโt see is how even those not taking loans end up paying in other ways. The impact of a rate cut doesnโt stop at borrowers. It quietly reaches everyone. The biggest way it hits is through inflation. Lower rates mean more people and businesses borrow and spend. But when demand goes up faster than supply, prices rise. And once prices rise, they usually donโt come down. Groceries, fuel, medicines, school fees everything starts costing more. This affects every person, especially those who donโt have the extra income to handle rising monthly expenses. At the same time, interest on savings drops. Banks reduce FD and savings account rates. So if youโre someone who avoids loans and puts your money in the bank hoping to earn steady interest, youโre earning less than before. And if inflation is higher than the interest youโre earning, the value of your money is quietly going down even if the number in your bank account looks the same. Then comes indirect taxation. As prices of goods and services go up, so does the GST you pay on them. This means youโre paying more tax, not because tax rates increased, but because the prices increased. Unlike income tax, GST doesnโt care how much you earn it hits everyone the same. So middle class and low income groups feel it the most. On top of this, wages donโt increase as fast. Your salary might stay the same for a year, but the cost of living climbs month after month. You end up spending more, saving less, and getting no real benefit from the system whether you took a loan or not. So yes, a repo rate cut may look like it helps the economy by encouraging borrowing. But if you look closely, even those who donโt borrow end up paying for it. Through higher prices, reduced savings income, and more tax on everyday purchases, the common consumer loses either way.
Work and keep learni...ย โขย 1y
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 โน2.5 lakh for individuals below 60 years. 2. 5% Tax: I
See MoreGrow & Glowย โขย 5m
Smart Tax Planning = More Savings & Zero Stress! Are you overpaying taxes or struggling with compliance? Many high-income individuals and large businesses miss out on legal tax-saving opportunities and end up paying more than necessary. At Saloni J
See MoreContent writerย โขย 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
See MoreFounder And CEO Of F...ย โขย 7m
Budget 2025 expectations: Income tax relief buzz Speaking on the expected rationalisation of the income tax slab, Pankaj Mathpal, MD & CEO at Optima Money Managers, listed out the possible income tax slab for the new income tax regime, which may bri
See MoreEntrepreneurย โขย 6m
Friends, have you ever thought that paying tax is our responsibility, but why does it seem like a deep trap? India's tax system is so complicated that the common man gets confused! On one hand, the changing rules of GST, on the other hand, the high r
See Moreย โขย
The Institute of Chartered Accountants of Indiaย โขย 7m
You still have to pay taxes if your income is below 12Lakhs.๐ Letโs talk about a crucial detail in the recent Indian Union Budget that many people are overlooking. If youโre already aware, great! But if not, this is essential to knowโotherwise, you
See MoreChartered Accountantย โขย 11m
Direct Tax collections for FY 2024-25 as of 17 September, 2024 Net Collections, YOY comparison Corporate Tax : โน4.53 lakh crore, up 10.5% Personal Income Tax : โน5.15 lakh crore, up 18.8% STT : โน26,154 crore, up 96% Other Taxes : โน1,812 crore, up
See Moreย โขย
The Clueless Companyย โขย 1y
When the income tax return filing date is near, the income tax department goes into full marketing mode to remind taxpayers to file on time. Guess what? Even they have targets and quotas like our marketing and sales teams! ๐ฏ Imagine the tax offic
See MoreDownload the medial app to read full posts, comements and news.