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 Lakh kinda sets a good entry level for taxes as 1 Lakh is a decent amount to live by I guess.
Just looking to hear opinions on why it would not be beneficial that’s all. Not willing to hear or respond to any SJWs who want to act all high and mighty on the internet.
Until and unless every penny of tax paid is listed on a publicly accessible blockchain. Fuck taxes.
I kinda agree with this. Taxes have done just close to the bare minimum so far. Like it doesn’t make sense funding incompetent governments to support :
We tax payers need to know where our taxes are being spent and why.
What would happen if all of us decided to stop paying taxes ? Not like they can put all of us in prison 😌😂
Well. I have an absolutely perfect video for you.
In the long run, we should find a way of scrapping direct taxes and just have the indirect ones, so consumption can drive taxes, not just income. Also, it will greatly simplify the tax structure and reduce the loopholes which people find to avoid taxes, whereas we salaried ones have no way of doing that.
The problem with indirect taxes is that they are very unfair towards the poor.
A bag of flour taxed at 10% will have the same cost for a labourer and Mukesh Ambani. For the labourer, it might be 30% of his daily income, while for the Ambanis, it would be more or less a rounding error.
If we abolish direct taxes and just have indirect taxes, there would be no other choice but to increase the indirect ones to compensate for the loss of tax revenue, which would in turn affect the poor more than the rich.
A better solution is to increase the tax base and increase accountability, but it is easier said than done.
If people above 12 lakhs start getting taxed, the rich people of India will just pack up and leave the country. So there will be less income generated from the tax. The GOI should focus on increasing the pool of income tax collected rather than the amount which is paid. Every Industry in India needs to be equally taxed without any exemptions, then you'll find proper income flow, might even decrease the deficit which we are facing today.
Taxing the rich more is not the solution, taxing everyone fairly is a better option. There is lobbying inside the GOI which is undeniable.
No I didn’t mean tax TF outta the rich but more like current structure but tax slabs start at 12 LPA. The reasons I’ve taken for 12 is that most times it’s like salaries of people who still are at the initial stages of their career and the whole 1L a month concept.
Although now I do see what you mean, they’ve gotta make up that lost money from somewhere. However I don’t wanna add taxes to the rich.
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 a...
This government’s primary intention is to collect more and more taxes in whatever mean’s possible. They don’t give a ...
Any news on who is getting it, what's like an average payout for eligible employees? As per the news article, approx 19000 employees are getting it. Anyone has insider info?
Got around 3CR
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 A...
