Ahhhh . Now let's see how many educated salaried tax peyer compare India 's tax with US tax
This is actually good for the common people. Corporates getting taxed is better than employees getting taxed
India also discussions going on for DTC (read slab rate tax for stock gains i.e. upto 39%)
Sad reality is, India as non corporatised country can't have higher corporate tax as than Individual tax, they've to be incentivised to run factories, make products, while the masses are incentivised by religion or fear.
Just for info - this unrealised gains tax is applicable for people with $100million worth of assests or more. Not for the ones below. The working class doesn't have to pay this. This is for the ultra rich.
This is one of the many reasons why the rich corporate CEOs are all against Biden administration.
That's how it begins. Read what Elizabeth Warren has said and is thinking - she wants it to be $50M actually.
The language also suggests it will be expanded later on to include more people, so morons who think it only affects rich people don't know what kind of steel beam they're ready to take in.
Unrealised gains is so damn stupid
Nirmala Sitaraman of the west
Nirmala tai ki behen hogi shayad
So this is something that I have been researching for a while, apart from very well known instruments such as-(only mentioning the ones that should be done by everyone irrespective)
🇺🇸 President Biden proposes a 44.6% capital gains tax, the highest in history.
The proposal also includes a 25% tax on unrealized gains for high-net-worth individuals.
Indian markets - be prepared for the biggest rally of the decade...
Don’t you think it’s kinda not fair to tax people especially in metro cities who earn less than a lakh a month. The cost of living in these places are already so high and due to that they may not even be able to make any investments. 12 ...