If there are 10k farmers with 1cr income, then the tax collected is 700cr... Don't believe any politician would take a political risk for this amount... If it was 70k cr , might have been different..

But that number will rise exponentially if you bring the income to 10-15 lakh bracket.

Founder

Correction, the tax collected is 300cr at 30% rounded up...  
  
 Farmers have no income stability...3 years of draught and farmers will lose their land due to debt and commit suicide.... Agriculture has high input cost as well...the price of farming products are low because farmers are front loaded subsidies and mostly villages have low cash transaction and run on barter and credit...If everything is tracked and taxed like jobs, you will be paying 3x the price for produce...Govts will fall with that.. 
  
 Any input from first generation farmer is appreciated

Software Engineer

Give me the list of rich farmers, i wanna work at there farm 🌝

Still you might only be paid dehari of 500₹ per day.

Backend Engineer

Let's tax Bill Gates! The biggest farmer of them all!

Welcome to News Discussion's Private Community

Rich farmers should be taxed. Although this will never happen in this country.

Rich farmers should be taxed. Although this will never happen in this country.- Grapevine

No tax relief for salaried class. What are your thoughts on the overall budget? What reforms were you awaiting or what do you think are absolutely necessary to uplift the middle/ below middle class of the country?

Interim Budget 2024

Growth Manager

Let's tax the basterds!

Business Analyst

Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime.

The govt is doing a few good things like dissolving inept psu's, selling off entities like Air India (privatisation), etc.
But when and how  are we going to increase the tax base?? Why is govt failing to do so? It is high time we rationalise it. We cannot dream of becoming a prosperous country with such poor policies in place

https://timesofindia.indiatimes.com/pay-income-tax-be-political-orphans-why-it-matters-for-indias-economy/articleshow/107405605.cms

Inept income tax dept

Product Manager

Welcome to Personal Finance's Private Community

Seems like since last year the focus of government has shifted from actually making beneficial policies to enable innovation and growth of India to just collecting taxes blindly. 

They just want to harvest tax in as many ways possible and kill the middle class person.

First it was crypto. 

Then us salaried individuals started receiving notices. 

Then they levied 28% GST on online gaming. 

Now they are also checking proofs for HRA allowance and other stupid stuff which wasn't done before. 

I was wondering why there is a sudden increase in such incidents? Is the government hiding something? Are they running out of money?

Or are they just smoking weed just like us and making stupid rules?

Nirmala tai is looting us

This government’s primary intention is to collect more and more taxes in whatever mean’s possible. They don’t give a f**k about anything. And then will brag every month/quarter about record GST collection! This government is pathetic to say the least! No accountability and arrogance is at its peak. We have come to a point where we can’t even question the government otherwise you will be termed as anti national.

According to a 2012 RTI filing, there were 8 Lakh people with more than 1 Cr in Agriculture income, who paid ZERO taxes in India.

[1] 1% farmers in India own more than 10 hectare of land. And, they are by no standards poor.

And, as per a paper by the erstwhile Planning Commission, if we could tax even 0.04% richest farmers, it would generate 50,000 Cr of tax gains.

[2] This money is enough to run the MGNREGA scheme for a year.

This post is not against farmers. 
It is about getting the rich to pay their fair dues.

[3] It doesn't make much sense why a normal corporate employee making 25K/month should be carrying the burden of taxes for Crorepati farmers. 

Widening the tax base would not hurt the government's revenues. 
And, it would improve the life of a normal tax payer. 

But, guess how many political parties are talking about it?

Winter is over, Summer incoming

Senior Consultant

https://www.ndtv.com/india-news/shubhkaran-singh-farmers-protest-farmer-killed-in-protest-owned-2-acre-land-took-loan-for-sisters-wedding-5105592

But bro all these protesting farmers are rich

Product Owner

This should help everyone understand the true picture of income brackets Indians fall in, where do viners belong?

Earnings bracket wise

It's hard to watch

Engineering Manager

Sad & Bad

We have done it.
We contribute more to the country in taxes than corporates.

Let’s celebrate this historic and absolutely patriotic moment 
in our broken dreams, 
in our rented homes, 
in our over taxed cars, 
in our pond sized potholes, 
in our over priced healthcare,
in our price gouging education, 
in our humiliating public & pvt infra, 
in our barely present desire to live,

Pride yourself in what you have achieved and shut your mouth about any criticism you have, for that’s not what you are here for.

Congrats everyone!

My blood boils whenever politicians talk about giving freebies for votes. That's my tax money

Software Developer

Consultant

- Congress has asked Prime Minister Narendra Modi for his stance on a billionaire tax ahead of the G20 meeting.
- Brazil's proposal for a 2% wealth tax on billionaires, supported by several countries, could raise significant funds for public investments.
- A research paper suggests a 2% wealth tax and a 33% inheritance tax in India could generate 2.73% of GDP in revenues.
- A survey shows 74% of Indians support taxing wealth to address global issues like hunger, inequality, and climate crisis.
- Former leaders have urged current G20 leaders to support a global billionaire tax, though some nations have raised objections. 

 Source: Economic Times

Congress Pushes for Billionaire Tax Amid Global Discussions

Journalist

https://indianexpress.com/article/india/rejection-of-final-epf-claims-sees-surge-in-5-yrs-up-from-13-to-34-9177874/lite/


We want to see towards growth and only growth but growth in every aspect is not a good sign. Govt should look at tax payers and make their life easier otherwise everyone will become farmers.

Rejection of final EPF claims sees surge in 5 years, up from 13% to 34%

While the last 10+ years of Modi government has largely been to position India as a strategic uprising economy, there is no denying the fact that the Government to a large extent has failed in casting the tax net wide. 
1. Yes the year on year tax collection has risen, yes the Consolidated fund of India has improved but even after 10 years of majority rule less than 10% India pays tax. 
2. To top it all, looks like the government has taken middle class for a ride. 
2.1. For a common man working you not only pay tax on income (this is ok!) but also on every time you spend and now even whatever little on can invest. Let’s first look at tax on Income. Your income tax can vary from 0% to 30%. 

- For a 30L income, almost 6L would just get wiped in taxes. This is an approximate figure don’t hang me with your CA rope.

- For example, if your gross salary is 75L in India despite most standard deductions like 80c, Home loan, interest repayment and medical bills and insurance, a person pays 23L almost as income tax. 23L is a substantial amount & when paid for 5 years (every year) for a lot of us it can become meaningfully life changing. 

2.2. Now let’s look at how much do you end up paying in taxes when you spend on goods and services. 
- - Almost everything has 5% GST. But if you really go line item by line item on all your monthly/ annual spends, your average GST payment would be almost 15%. Put it simply when you 87k as expenses you also pay additional 13k in GST. 
- - Also every other item would have cess & surcharges. 
> Case in point just look at airline ticket. Service fee would almost be 8%-15% of your base fare. 
> When you buy a house you pay the following fees, stamp charges, registration charges and obv we all know nothing happens in registrar offices without something going under the table. Also in case you buy via broker then his fee will also consist of GST at 18% (assuming he invoices his services). 
Continued in comments

Rich farmers should be taxed. Although this will never happen in this country.

Discover More

News Discussion on

by Isaiah Carmden

Freshworks

Interim Budget 2024

Misc on

by Karilyn Vernon

Stealth

Let's tax the basterds!

News Discussion on

by Kalan Dean

Stealth

Inept income tax dept

Personal Finance on

by Jordon Carmden

Startup

Nirmala tai is looting us

Memes on

by Matilda Gabriel

TCS

Winter is over, Summer incoming

News Discussion on

by Dezi Vernon

Stealth

But bro all these protesting farmers are rich

Misc on

by Anise Lee

IndiaMART InterMESH Limited

Earnings bracket wise

News Discussion on

by Dezi Carmden

Deloitte

It's hard to watch

Bangalore on

by Kalan Taye

CARS24

Sad & Bad

Personal Finance on

by Kendall Vernon

Others

Congrats everyone!

News Discussion on

by Karilyn Hyrum

Grapevine

Congress Pushes for Billionaire Tax Amid Global Discussions

News Discussion on

by Kendall Dean

PayU

Rejection of final EPF claims sees surge in 5 years, up from 13% to 34%

News Discussion on

by Aaron Dean

Stealth

India needs a 3rd Front

Mumbai on

by Dezi Lee

OpenText

Heart of Gold