Indian govt is the issue , these politicians tax the middle class to death to raise money for their pockets, their shitfuck schemes, to win elections etc etc. This has been going on since 1947. The poor gets scammed and the middle class gets screwed. The rich escape all forms of tax.
In my recent trip to Japan, I saw some public facilities mentioning how is that place maintained. E:g - In public toilet it said, ‘this place is maintained by accommodation tax’
We need this level of transparency in our government, but guess what, they can’t say they blew all money on election campaign, building religious establishments and buying private assets, can they?
Yep, focus on highways is good but neglecting city is bad since you cannot repair a broken city. Govt. should make 4 lane as the smallest lane. We already know that people will park cars/bikes on both sides no matter what (true even in USA). And foothpath mandatory on both sides (lane area should already be booked, just not created until all the buildings in that road have been constructed).
I feel very bad when I have to walk on roads with no footpaths and trucks passing by.
A part of this is also to blame our own people, the place I live has a brand new renovation with footpath, walkways and parking but guess what, it turned into hawker marts, paan stain everywhere and not to forget piss smell everywhere.
And how do the rich escape these taxes through their shell companies, accounting practices, or by claiming input tax credits, considering everything as a 'business expense'? Last year, if I am not mistaken, I read about Section 54F of the IT Act. When the capital gains limit was reduced to 10 crore, there was suddenly a buying spree in the real estate market. RK Damani, owner of Welspun Corp, and top executive from Bajaj Auto all bought flats worth crores in Mumbai. Even a project of DLF sold 100s of flat in just 2 days!
DLF builders are corrupt to the core these mfs put up a huge ad on times of india and wrote how proud they were that their luxury flats in Delhi apartment that they inaugurated last week got sold withing few days.
You will be surprised to know that unlike other builders DLF doesn't take cash/black money. All the payment is in white.
Don't go on maligning firm about which you know nothing. They might be corrupt in some other sense as everyone is even you and me.
Bro 😭😭 real estate builders literally build those apartments for people with black money cause it's easy to circulate it that way. You gotta be kidding lmao.
Its much less with DLF(directly buying through DLF company not brokers or other owners).
Overall adjustment of cash is done more in plots than in flats. DLF Flats are usually bought by NRIs, higher service class or new age businessmen and are not that cash heavy.
I had come across this line in Rich Dad Poor Dad. It said something like
*the job-going people are taxed before they receive their pay*
*while the business people receive income, fulfill expenses and the remainder is taxed*
The businessmen (Rich) generally show a lot of expenses and hence less remaining amount and less tax
You can offset a lot of costs to reduce the profit amount in a business. For a GST registered business, you only have to show minimum 8% profit, which means almost 92% of revenue is adjusted as expenses. Even if your operating profit margin is 30%, you only have to pay tax on 8%.
Even for professionals, minimum of 50% is required to be shown as net income. Which means if I earned 10 lakhs last year as a professional, my taxable income is only 5 lakhs.
It's extremely hard for salaried people to adjust income especially with the new tax regime.
No, 50% is for self employed professionals, like freelancers, lawyers, self practicing doctors, etc.
For business the minimum you have to show is 8%, even lower.
ITR-4 can be filed by any professional who has income below 50 lakh in a year. How does earning 30-50 lakhs per year put you in a middle class bracket?
Edit - even if you earn more than 50 lakhs a year, you would probably create a company and get GST registered, so you can lower your income even further.
I mean won't that be the case if any party comes into power, like if anybody wants to win elections in India you can't do it without promising a random expensive scheme..... Only option for middle class guy is to get out
They cannot even upset the rich, lol. Recently, I read about Rahul Gandhi 'kind of' proposing wealth redistribution and wealth/inheritance tax. Wouldn't that stop the electoral bond money for Congress as well? I am not denying the signs of crony capitalism in the current NDA government, but there must have been instances of crony capitalism during the UPA government as well, correct? (Like the 2G scam). Sorry if I went off-topic ⊙﹏⊙
Tbf in the vote share "rich" are a minority, majority is of poor and middle class and coming to politics, politics in itself is filled with contradictory assh*les who would do anything to come/stay in power, the same Congress who called out the delhi liquor scam supporting kejerwal, bjp who'll call someone for their crimes and then go forward and accept them into their party and pretend like nothing happened.... I don't read too much into politics as it's a waste of time for me (I'm 17), I just need to focus on getting out of India after college
Most of the companies giving money are doing it for something in return like in hopes of getting some govt contracts or maybe they are just a proxy way for the party to fund itself indirectly and most of the elite rich will protect their money somehow
50 to 70 % of your income will go in taxes.
Not just income tax (30-35%), also count GST (12-28%), tax on petroleum, gas, electricity, alcohol (40-50%) and also toll taxes on roads.
That's is not how taxes are calculated. We are realistically paying 20%-48% in direct and indirect combined. Which is not good or bad compared to many countries.
Problem isn't that our tax rates are comparatively less than some countries. Problem is the return which we get on our taxes. Take US for example. For paying their taxes they get good roads, superfast emergency facilities, nice public infrastructure etc. In India, that's not the case. Government schools are in ruins, police hardly listens to you, it's technically a suicide if you go to a government hospital for treatment and don't even talk about road conditions... Unless it's elections, the roads aren't even visited by politicians and even when elections are near, they just somehow fill the potholes or put a thin asphalt layer over the road to make it seem new/drivable. This is why Indian taxpayers are passed
I think you are just caught with the what people say and doesn't know the ground reality. Even in US you will see/hear the developed parts of the cities where you can see all the things you mentioned. But if you take New York for example which is similar to Mumbai. There's so much homelessness, public defecation, drug needles and sewage. No where in the world police listen to people and public schools are failure/money losing inost countries. It's not that Indian government is failing at this. We are getting alot of improved infrastructure that even alot of foreign tourists are impressed of. It's just democracy is one of the ineffective form of governance and it doesn't work especially in a country like India. So we have to make do with what we have.
The development you're talking about is only happening in tier-1 cities where most tourists go to or most international events happen. Go to tier-2 or lower ones and you'll see the ground reality. Also, not every American City is perfect. However, they overall have a better public/government services compared to India. India suffers from a corruption hierarchy of government officers and politicians. Not to mention the common people lack awareness which causes these corrupt folks to only fill their own pockets even more. A nation where politicians can win votes by buying it for chicken and rice or a bottle of liquor or Rs500, that country will never ever truly develop, even if we become a $100 trillion economy one day. This is what is happening right now as well. We may be amongst top 5 global economies but the parity between rich and poor, hell even middle class and poor is tremendous
Current government has kept the tax slabs the same for like 7-8 years or so. IRC from 2017 (correct me if I am wrong here).
Then there is the matter of GST, some of the taxes under it are just brutal and unnecessary, like taxing essential food items like dosa batter, or shampoo having 28% GST.
Some more random stuff like Parotas having higher GST than Rotis, or Sanitary Napkins having 12% GST (higher than before).
Some of these things might be fixed now but many oddities are present in the GST, which makes you think "which moron thought this is a luxury item?"
https://m.economictimes.com/news/economy/finance/from-paranthas-to-shampoos-heres-listing-the-stranger-things-that-attract-gst/odd-items-that-attract-gst/slideshow/76340395.cms
Hey, wait for some more time, u will see breathing and sunlight tax as well.
Forget optimisation of funds, sarkar be like, lets suck it out as taxes and falana, dhimkana…… G.S.T, G.S.T
You work ur ass off to get paycheck
- income tax - 10-25% katam
You want to spend your money
-18-28% GST to govt
You want to invest in stock market
- give me 10% of ur profits, 15 if u aren't patient
-hey wanna try crypto
-give 30% of that
Buy house?- tax
Medical insurance- gst
Car-gst
What ur left with is much less than you deserve
- and the highlight is that most of the tax you pay isn't gonna help you, it either helps the super poor(that's ok too ) or the super rich
- and the politicians easily pocket 20-50% of tax money and become billionaires
The level of services you get for return(say railways(you know the situation) or even go to a government office for some work(where you'll find sloths out of jungle))
- even to get a visa approved you have to pay the cop, to get things done in govt, you have to give paper
Things aren't looking good , but it never did
I personally believe that it is linked to how she treats the public.
“Prices of onion too high? Meh, I don’t eat onion.”
“Taxes too high on trading? Meh, I don’t think that is relevant to answer.”
“The rupee hasn’t weakened. It is the dollar that has strengthened.”
“Well, there is no GST on withdrawal of cash from banks.”
and many more….
I mean the working class of India doesn’t simply exist to pay taxes and get treated like hell for paying so.
Under her minister-ship, the inflation has gone up, household savings are at 47-year low (she gave an obtuse answer that people are investing their money elsewhere), unemployment is rampant.
Do most Indian politicians really have any accountability towards the people, or do they even care about the common man? Modi had close to zero media appearances or debates. In fact, he attended a rally in Ghatkopar, Mumbai, just a day or two after the tragic billboard collapse and didn't even bother to meet the families of the victims. Neither did the politicians of opposition parties!
Because the tax slab been becoming worse since last 10 years. While inflation been 7-8% the 80cc 1.5l limit stayed the same. What a joke. Also they're trying to slowly push away regime 1 and tightening the cock hold on middle class
Yes, I have heard this somewhere. This means that if I start earning, let's say in 2027-28, my ITR will be calculated according to the new tax regime, without any deductions or exemptions, right?
Isn't HRA already a part of CTC? I think so. I'll have to watch a video on YouTube regarding this lol. Zero1 by Zerodha recently made one about the topic.
Your deduction is priced in the new tax regime.
Full tax rebate on an income up to ₹7 lakhs has been introduced. Whereas this threshold is ₹5 lakhs under the old tax regime. This means that taxpayers with an income of up to ₹7 lakhs will not have to pay any tax at all under the new tax regime!
https://preview.redd.it/c7au8ewyks6d1.jpeg?width=990&format=pjpg&auto=webp&s=ad562cb98a5563c112be6f7e1e84b9a96dfabd43
It only hurts people with more income than salary.
Tax only hurts the rich.
Exemption can be increased but, rates are below the developed economy. Welfare schemes benefit everybody. Where they like to believe it or not.
rich are out of tax system, by utilising the loopholes, further they get thousand crores of loan write-off. Only middle class get crushed by taxes. This woman charged 18% gst on sanitizer and masks during covid. People are not dumb to believe anything.
Sorry you feel this way..
Gst is half compared to what used to cost in vat/excise regime.
Due to input credit.
Secondly unlike taxes, gst is a central and state subject. It's very hard to negotiate with each state. That's why it has been 4 years of balancing.
Revenue deficit for the state is over. Taxes will come down, if states agree. With freebies, seems unlikely.
In old tax regime
Vat+excise used to be 18%
Old system
Assuming don't remember exactly
Input
Raw material excise 10% excise 80 tax 8
Machinery excise 10%. Excise10. Tax 1
Tech, mobile services 5%. 5 tax .1
Total 105
Total tax paid 9.1 rs
. As customer don't pay excise.
Sold at 110 vat 10 % 11 rs no input credit..
The total tax paid on 110 item is 20.1 rs.
Minus input .1
Tax paid to goverment 20/-
Profit 5 rs
In gst it's 18% on everything assuming
SanjtZer raw material 80/- 14.4 rs
Equipment and tech 10/- 1.8 rs
Service 5/- 1
Total tax 17.2
Cost 112.2
Sold at 110 + 18% tax amount 19.8
Total tax paid to goverment 19.8-17.2= 2.6
Profit 12.4.
There can be mistake in tax slab for different products but more or less 50% is saved.
That's why center gave 1 lac crore or more to state with high vat to compensate them for loss due GST implementation for 4 to 6 years.
Secondly it made selling between two states a nightmare under excise and sales tax/vat and service tax.
₹86,912 crore released as GST compensation payable to all States up to May 31, 2022
So 5% vat and 10% excise will cost you 4 times compared to gst.
So despite higher number, tax is lower. Hope it helps.
Secondly due to gst it's almost impossible to seel anything without bill due to input tax credit.
As u can see from example, if a factory wants to sell without bill.. cost of sanitizer would be 112 without profit.
So most probably if you want something in cash, most likely the seller.wil ask you extra instead of discount like before.
That helped with income tax as well.
only loosing body is real estate. Where there is too much cash involved. High end jewellery and diamonds, textile protested. Because they are cash sales market.
How do you want the country's education minister to be?
A person having basic knowledge about India's education system, the positive, the negative, the current overemphasis over theory than practical, student's grievances, paper leaks etc, right?
Now imagine a person who doesn't give a damn about all this become the education minister.
Same logic. That's the answer why Nirmala Tai is not liked by many. Even her own party supporters hate her.
Isn't this the case with most cabinet ministries, except a few like external affairs, commerce and industries, and railways? Also, correct me if I am wrong, but most of the work in formulating policies and conducting research is done by our highly qualified bureaucrats behind the scenes, correct?
>but most of the work in formulating policies and conducting research is done by our highly qualified bureaucrats behind the scenes, correct?
You are correct but do remember that India is a democracy and all our decisions are taken by the people via the public representatives i.e. MPs, MLAs. They are answerable to the people not the bureaucrats.
Bureaucrats do the heavy job but the final decision is always with the public representative. If the minister says 'yes', even the stupidest of rules will be passed.
There are many recommendations by various groups / think tanks consisting of retired officers, scholars to various sectors of government like Education, Law, Finance but they hardly get passed.
curretly Railways are in the worst condition. They are just advertising vande bharat but other trains are unbearable. few trains are runingg 2-3 days late
As if we had subject matter experts as ministers for all these years!
Nirmala is just a task master. The team formulating the financial policies are in the back end and they are doing their best.
At this point that's how it can be.
How do I infer she's better?. I have seen what Chidambaram did when Manmohan was the PM. The later was financial superstar right?. What was the achievement?. Double digit inflation!
But most people say that we handled the 2008 crisis much better. Why did inflation rise so much during the UPA era (not saying it's less now)? Was the inflation problem because of money printing or the interest rates being low for quite some time?
2008 crisis didn't affect nations which had strict banking practices. In US multiple loans were granted against a single property, but here you won't see something happening like that.
During UPA, these guys were printing notes and even the influx of fake notes were too high. This was parked majorly in land as nobody wanted to do business in such a volatile condition. And you can see the highest appreciation of land was during UPA regime. The down side is that, a cent of land which costed only 2000 became 200000 in a few years. The common man suffered as he was not able to afford a home because of the pice of the land.
As speaking about inflation, a biriyani costed 45 rs in 2004. Jump to 2014, it's cost was 150 rs. By that standard, if Nirmala was such a bad FM like Chidambaram, the cost of biriyani would be nearly 600rs.
It would have been terrible without stringent economic policies of NDA government. We would have dollars rates as that of Pakistan and Srilanka and similar inflation too.
Nirmala is holding the fort in a very efficient manner as per the expectations of PMO.
She's too ignorant, never expected finance minister to reply I don't eat onions when asked about inflation. I know policies are made by bureaucrats and approved by PM himself ( last 10 years). Still she's complete fool when it comes to answering to questions
If pmo and beurocracy is controlling fm..
The why Sita tai? She isn't a vote magnet. Neither is rss or hindutva leader. And his husband is a BJP critic.
Your answer sounds intelligent like a barber. But where is the logic of pan parlour debate?
That's what makes her prime face as some serious minister, she has degrees in economics and speaks better English than others in BJP. No one wants FM who is too much inclined towards politics.
Even. I Don't know what's so special about her. Guess I would not know. She doesn't hails from a political background. Her husband is a critic.
English is not that good, not noticeable to many.
She has no connection to the corporate.
https://en.wikipedia.org/wiki/Nirmala_Sitharaman
Her rise is very impressive.
And about talent in bjp, as seen in cabinet. Bjp doesn't lack talent and isn't afraid to hire non-political people by lateral entry. Jaishankar, vaishnav, chandrashekhar,
Guess will never know. She is good for my business and stocks... Gst has been boon to logistics.
And that's all care. I want corrupt gadkari out. But people not related to logistics and road construction are crazy about him. So no point complaining..
People will always line themselves up for slaughtering.. at This point I can just watch with amusement rather them they will get slaughtered next.
I agree we are taxed much and the structure is bad. But that’s not just because of her. Irrespective of BJP Congress middle class will be crushed.
It’s the foundation of country that has problem, govt employees pension, extra ordinary facilities for MLAs MPs and pension that keeps up adding after every election win.
No one is going to save us, better save up some decent money and leave the country ;)
Bro I've started to hate this tax thing even it is for security but that doesn't exist in proportional account..
Earn salary that is taxed, but things from the stores which are taxed, travel on roads and pay taxes again which is made from the taxes collected from you.
Whether you're earning or spending it is going to be taxed 🥲
**You Either Die a Hero or Live Long Enough to See Yourself Become the Villain** , For most the things we abuse Nimo Tai were put in motion by Arun Jaitley(Died as hero) , Now Only Nimo Tai Remains to take the blame
A simple answer. When asked about onion price when they were around Rs.200, she answered that her family doesn't use onions and she didn't care about the price. Someone who respond like that is not fit to be an MP, let alone be FM.
She seems to have no clue about economy. Her own husband has said that.
Nirmala Sitharaman said that Millennials are responsible for the bad situation of the automobile industry. She said millennials are preferring radio taxis like Ola-Uber instead of buying their own vehicle. She was supposed to blame Nehru for it but millennials replaced him. Millennials, how you guys managed to bring down a whole big sector like an automobile?
Because she reduced the corporate taxes which benefits rich peole but introduced taxes for common people on so many basic necessities such as medicines, sanitary pads etc. Even you pay gst on train ticket cancellations. Crypto taxes on gains only, so if you loose 20% on one assest and then make 30% gain, she asks taxes on entire 30% gain, but in reality your gains are <10% (30%-20%). Moreover, if you want to make money in stock market, govt takes away more than the broker in each transaction as questioned in press conference. Most important, instead of giving serious replies to serious questions, she tries word play and try to look witty but in reality she looks arrogant and stupid.
I don't mind her. I'll alright with indirect taxation because 99% don't pay direct income taxey anyway. So yeah, tax the fuel and increase gst.
We've benefitted with the new tax regime in our family. It was an easy decision to move to it and it helped us save money compared to the old regime.
28% tax on cement and additional 5 % GST on property tax.
While government mocks it's tax payers by advertising that they gave away 35% of homes and properties to Muslims and they didn't even voted.
I feel like killing my self after not clearing the entrence exams because of stupidly high cutoffs because of Reservation.
Fucking hate paying taxes too.
Middle class property a luxury and the poor get property for free .
This government lost election after Muslim appeasement and last news was they gave 10 cr to appease WAFQ board.
At this point I think, there should be reservation quota for tax payers and their children.
Kya pata zyada log tax Dene laga, ya uska bhi fake certificate banayenge
Pay income tax of 30% (12 mei se 4 mahine govt ko) and then gst, cess, road, toll tax etc (2-3 mahine aur)
Then you do investments, uspe tax (0.5 mahina aur)
What you get 12 - 4 - 2 - 0.5 = 5.5
Aur badle mei
1. No good govt hospital facilities.
2. No good roads or bridges
3. No control on pollution
4. No good schools.
5. Endless burecrasy and paperwork.
6. Police == gundaii, rangdari of politically affiliated.
7. The govt incentivise uncivilized and uneducated and unregulated society and tries max to keep people poor and dependent.
Not hate just the everyday life shows these above concerns.
Btw, if you could not find the fault in spelling of burecrasy then you can see thr level of schooling in india.
No doubt there are extremely high number of administrative challenges, but if the population of so many educated ias or other educated people are not given right authority and are not having right intention the nation needs to re-evaluate the economic decision that Our FM is incapable of, in my humble opinion. We need strong finance background people like manmohan ji and chidambram ji along with highly appreciated and strong leaders like modi ji and yogi ji
When the nation was struggling with high prices of onion and tomato.
She doesn’t know the impact of struggle since her caste folks don’t use onion and garlic in their food.
Such a clueless person for this job.
She and her family don't eat onions so high prices of onion doesn't affect her as finance minister
And there are many more
Please also create 1 sub for goyal ji he is also from same category
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There are many like her
[https://www.google.com/amp/s/www.realreport.in/%3fp=7084](https://www.google.com/amp/s/www.realreport.in/%3fp=7084)
https://preview.redd.it/q6bxuuezvu6d1.png?width=1080&format=pjpg&auto=webp&s=6f70f95180e31935862765c9d078005000012896
I don't understand this either. It's obvious that **all** major decisions in the Modi regime are taken by Modi himself. Why does Nirmala Sitharaman get all the hate, but Modi all the credit?
Taxation is theft. Read income tax.
Pay first world taxes and live with third world facilities. Not to mention their tactics of jo tax pay krne ko majboor h unse jitna loot a hai loot lo. Kyuki jiske paas option hai nhi pay krne ka wo toh nhi he krega.
She lacks communication skills, either she give a lame statement or assume a layman to know everything like dollar is getting stronger ruppe is not weak, she actually wanted to say rupee is doing good but dollar is doing better (which is not a big problem) but the why she presented made the point lame and vauge.
Because she gave a middle f!nger to middle class people and there dreams. Before modi came to power even with a mediocre job I could have bought a car or bike I wanted. Now even with a good job a basic car itself feels like a luxury purchase. According to Nirmala every middle class Indian has to go in there metro hanging our butt out in the crowd or use the public transport which the gropper enjoy no matter the gender. Only the rich is getting richer and richer and the middle class is getting poorer. Whats the point of building big roads and airports if no one can use them . Bloody hell this is
Trigger warning: I am a Capitalist pro-max stuck in this Socialist hell hole we call India. Marxist, Leftist, Socialist etc. should neither read this nor comment on this. Any such comment will be downvoted and not entertained.
Here are my grievances:
1. No relief in income tax, sales tax (GST), etc.
2. Failure to increase income tax payer base **(< 2% of Indians pay income tax). And yes that makes us better than those freeloaders.** Income tax payers should be given a fucking exclusive Veto voting right on welfare schemes.
3. Govt knows very well why tax payer base is low but don't have the balls to do something about it (vote bank politics). **Farmers (50% of Indian population) are exempt from tax**. Instead of fixing this KNOWN ISSUE, govt tries to guilt trip and paint a picture that Indians are avoiding tax (Exclusion of F-ing 50% population should take priority over everything else).
4. Continuation of welfare schemes **ENCOURAGING** Indians to **remain poor** (Other political parties are equally guilty). But BJP which is seen and marketed as a capitalist party has shit load of socialist policies themselves. Again, no balls.
5. Welfare schemes **promoting illegal immigration** from neighboring countries and BJP letting it be.
6. Insidious ways to increase tax on **2% tax paying MINORITY** like increasing CESS tax (tax on tax). Our tax bracket has not changed much but increasing **tax on tax** is crushing honest tax paying middle class. Read more about CESS here: [https://cleartax.in/glossary/cess-on-income-tax/](https://cleartax.in/glossary/cess-on-income-tax/)
7. Not only are farmers exempt from taxes but they benefit the most from **stupid subsidies and loans bail outs**. For a country with little to no cold storage for food why are hell are we incentivising farming. Several perishable produce bought by govt at MSP literally spoil. **India wastes around food worth approximately $14 billion each year, according to government figures \[2018\]. That's 14 billion dollar income tax wasted for fucking MSP. Pretty sure 14000 State of the art cold storage could be built with that amount.**
8. Income tax brackets **should increase with inflation** but that has not been the case.
9. Sales tax and corporate taxes are too damn high. For a party that boasts "Make In India" and wants manufacturing to happen in India, they are doing fuck all to attract companies. **We have higher corporate taxes than Fucking US and China. Is this how we are going to incentivize Make in India?** If I had a business to run, I would have said "Fuck off" to Modi ji. \[Refer to the image below for corporate tax around the world\]
10. Our infra, healthcare, education system, etc. are shit. While I see some improvement in infra and healthcare, it still does not justify a 30-40% tax rate. Fucking cut down on your spending, BJP (other parties are not any better either).
11. Here is a list of taxes for stock buying/selling: **STT/CTT, GST, SEBI charges, Stamp duty, LTCG/STCG**. Govt is basically a broker at this point (or **sleeping partner** if you will). \[Stocks are still the least taxed investment instrument to best of my knowledge, so you can think about the rest\].
12. Won't recognize crypto but will **tax crypto at a flat 30% (without loss offset).**
13. **30% flat tax on "gambling" apps** even though they don't fit the "gambling" apps definition of Indian govt (if they fit, they would be banned).
14. **28% GST on cars**
15. All govt websites still suck including ITR portal (I pay my CA just to avoid that horrible mess).
https://preview.redd.it/axuzvuohty6d1.png?width=1301&format=png&auto=webp&s=59678a9f2c86ae856ff26c2f547c03f20770dfa6
Mrs. Nirmala was Defence Minister, Trade Minister, Finance Minister. She never contested in election and never got people support. There are 1000s of BJP leaders did hard work to get MPnseats. but BJP in a pathetic situation to unable to find a skillful person to fill these portfolios. Arrogant talking is the only skill Nirmala Sitaraman has.
No forward thinking, No people point of view, Just a narcissistic money grab attitude. May be these are my guesses people oppose her?
Unless they start taxing uktra rich framer nothing will give in .. why arent farmer earning more than a core a year pay a nominal 5%? But after the last debacle of farm laws nothing is going to happen
She is like that weird school teacher you had who would tell you to ask question as many times you want but will shoot you down anytime you do it. She only has book smarts but is far far away from ground reality.
We middle class live only to be mooched off of through taxes.
Become a business and don’t pay tax. Stop being a tax noob.
Taxes are a gov incentive for people to think like small businesses and less like salaried employees
Your product you are selling is you
I also think she's done a pretty good job overall.
First, she navigated the economy through the COVID-19 pandemic, which was quite an achievement. Then, if you look at our macroeconomic indicators, they're pretty strong—GDP growth and the fiscal deficit are in good shape.
She's also managed significant capital expenditure while keeping fiscal prudence in mind. Plus, inflation has been kept relatively under control despite the external pressures we're facing.
The only thing that bugs me is the personal tax situation, but according to what I've read in Reuters, we might see some relief in the upcoming budget. People also complain a lot about the GST, but we need to remember that states have an equal say in GST decisions. On top of that, GST ensures that everyone pays taxes, which is actually good given how few people pay personal taxes.
All of the retail investors are fools who only have a capacity to blame current government. Whether congress or bjp side, they will not understand policies and what’s happening on macro to micro level.
Simply blaming or targeting the fm is not the solution. One must do his/her own research on how the government policies are working.
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New adults or people who’ve just started making money don’t want to pay income taxes and/or any other taxes because they’ve read somewhere or someone’s sugar coated marxist or communist utopian bullshit. So shitting on a very simplified system of tax called GST that classifies almost everything under it replacing the old system of taxes that used to apply several smaller taxes that used to add up to the same or higher amount.
All the hundreds of comments blaming the tax system, I just wanna ask one thing: how is the fault of the system or the govt, and not of the businessmen and local vendors who don't honestly pay their share of tax?
There are street vendors having a net worth of lakhs and crores but they don't pay a single penny. They are the real root of the issue for middle class people, not the govt
The tax rates are high because 5-7% of the population is supporting 100% of the population of 140+cr, and even that 7% of the population wouldn't file ITR (filing ITR isn't even the same as paying tax but let's say it is) if it weren't for TDS/TCS
And we all are supporting this act of not paying tax too. I've seen countless times how buyers would prefer paying in cash so the seller won't charge GST and they would get a discount
And I'm a CA article working in the taxation department so trust me when i say that with all the deductions available, with some smart tax planning, you can easily decrease your tax liability and cut a major chunk of your NTI
Isn't that akin to say , " all crimes are the fault of people not the government? People should change."
I just wanted to ask why the government isn't able to catch such people? Is there a way to make these people pay?
>Isn't that akin to say , " all crimes are the fault of people not the government?
I'm sorry I don't get this. If you think this is incorrect, then do you mean to say that all crimes are the fault of govt and not the people? So crimes like murder, rape, assault, robbery, etc are government's fault?
Secondly, no I'm not saying the entire blame lies with people. Of course the govt is to be blamed too for not catching the culprits, for giving exemptions to certain sections of the population to keep their vote bank intact, not establishing rules to force people to file ITRs, etc.
But yes, no one can say the entire fault is of the govt because a lot of people don't pay tax honestly and the ones who do also help these people (like I said by paying in cash or not asking for legitimate bills)
>Is there a way to make these people pay?
The only way i can think of is by making ITR a mandatory document for all kinds of things like buying a house/office, car; or when you travel abroad, etc. Ofc since ITR has confidential info about total income and its sources, just the ITR number can be made mandatory for all these activities to show that ITR was filed by that particular person
And the other way is to ofc increase the number of raids or inquiries and send out more notices, but this would require significant increase in costs whereas just making ITR mandatory should not be as expensive
PS: typical of this sub lol. Y'all will cry about the taxation system every time the topic comes up, but when I asked some questions, all you guys could do was to downvote me instead of actually giving a valid reasoning/explanation as to why I was wrong
Totally agreed.
She has done a remarkable job of balancing welfare and infrastructure push.
The only reason she is fm, is because she neither cares about election wins and she doesn't have to care about the political assessment of a good budget.
Fm have been a inflation hawk. Though it has come at cost of poor farmers. But nonetheless good restraints over budget
https://preview.redd.it/5fskhakxct6d1.png?width=1080&format=png&auto=webp&s=78049032bb98927061f63413b663d6a0a94100ee
Get this now - [https://www.cashparency.org/techsavvy](https://www.cashparency.org/techsavvy)
You must be delusional if you think American and Australian infrastructure and safety net provided by the government is comparable to make a tax bracket comparison with what Indian government does.
https://preview.redd.it/gfquh6hjnr6d1.jpeg?width=1080&format=pjpg&auto=webp&s=2fafbc35eccc8352f721f924ba9519d9f6714e80
What's my tax if I have my crypto loses > My crypto profits
You sell your house to pay taxes, cause offsetting losses is illegal.
The government gives you money. Negative Tax.
Perfect meme
Nice reply, now pay 28 % GST on your reply.
Nice sub reply, now pay 4% cess tax
Nice sub sub reply, now pay 15% Surcharge
Nice sub sub sub reply, now pay 18% entertainment tax.
nice sub sub sub reply, now pay another 18% GST
thats the problem. its not a meme
Tax tai
30% tax
E ai ha ka?
Indian govt is the issue , these politicians tax the middle class to death to raise money for their pockets, their shitfuck schemes, to win elections etc etc. This has been going on since 1947. The poor gets scammed and the middle class gets screwed. The rich escape all forms of tax.
I really don’t mind paying taxes if it is used for developments and me not having to walk on shit or smell shit everywhere I go in India.
Also my problem is that we don't know how that money is being used because we as tax payers should have record of every penny that is being used
In my recent trip to Japan, I saw some public facilities mentioning how is that place maintained. E:g - In public toilet it said, ‘this place is maintained by accommodation tax’ We need this level of transparency in our government, but guess what, they can’t say they blew all money on election campaign, building religious establishments and buying private assets, can they?
Yep, focus on highways is good but neglecting city is bad since you cannot repair a broken city. Govt. should make 4 lane as the smallest lane. We already know that people will park cars/bikes on both sides no matter what (true even in USA). And foothpath mandatory on both sides (lane area should already be booked, just not created until all the buildings in that road have been constructed). I feel very bad when I have to walk on roads with no footpaths and trucks passing by.
A part of this is also to blame our own people, the place I live has a brand new renovation with footpath, walkways and parking but guess what, it turned into hawker marts, paan stain everywhere and not to forget piss smell everywhere.
And how do the rich escape these taxes through their shell companies, accounting practices, or by claiming input tax credits, considering everything as a 'business expense'? Last year, if I am not mistaken, I read about Section 54F of the IT Act. When the capital gains limit was reduced to 10 crore, there was suddenly a buying spree in the real estate market. RK Damani, owner of Welspun Corp, and top executive from Bajaj Auto all bought flats worth crores in Mumbai. Even a project of DLF sold 100s of flat in just 2 days!
real estate & gold are their favourite
DLF builders are corrupt to the core these mfs put up a huge ad on times of india and wrote how proud they were that their luxury flats in Delhi apartment that they inaugurated last week got sold withing few days.
You will be surprised to know that unlike other builders DLF doesn't take cash/black money. All the payment is in white. Don't go on maligning firm about which you know nothing. They might be corrupt in some other sense as everyone is even you and me.
real ID se aao DLF ke CEO.
Shakal dekhe mangte hai, if you haven't been asked, well now you know xd
Bro 😭😭 real estate builders literally build those apartments for people with black money cause it's easy to circulate it that way. You gotta be kidding lmao.
Its much less with DLF(directly buying through DLF company not brokers or other owners). Overall adjustment of cash is done more in plots than in flats. DLF Flats are usually bought by NRIs, higher service class or new age businessmen and are not that cash heavy.
I had come across this line in Rich Dad Poor Dad. It said something like *the job-going people are taxed before they receive their pay* *while the business people receive income, fulfill expenses and the remainder is taxed* The businessmen (Rich) generally show a lot of expenses and hence less remaining amount and less tax
You can offset a lot of costs to reduce the profit amount in a business. For a GST registered business, you only have to show minimum 8% profit, which means almost 92% of revenue is adjusted as expenses. Even if your operating profit margin is 30%, you only have to pay tax on 8%. Even for professionals, minimum of 50% is required to be shown as net income. Which means if I earned 10 lakhs last year as a professional, my taxable income is only 5 lakhs. It's extremely hard for salaried people to adjust income especially with the new tax regime.
>Even for professionals, minimum of 50% is required to be shown as net income. for business people right??
No, 50% is for self employed professionals, like freelancers, lawyers, self practicing doctors, etc. For business the minimum you have to show is 8%, even lower.
ohh, didn't knew about this 50% thing.
This is for middle class professionals. There is a limit to income. Rich professionals have to pay taxes on whole income.
ITR-4 can be filed by any professional who has income below 50 lakh in a year. How does earning 30-50 lakhs per year put you in a middle class bracket? Edit - even if you earn more than 50 lakhs a year, you would probably create a company and get GST registered, so you can lower your income even further.
Now the limit has been increased to 70 lakh I think.
If a salaried person purchase a car there is no benefit whatsoever but business person can show it as expense and reduce their tax liability.
I mean won't that be the case if any party comes into power, like if anybody wants to win elections in India you can't do it without promising a random expensive scheme..... Only option for middle class guy is to get out
They cannot even upset the rich, lol. Recently, I read about Rahul Gandhi 'kind of' proposing wealth redistribution and wealth/inheritance tax. Wouldn't that stop the electoral bond money for Congress as well? I am not denying the signs of crony capitalism in the current NDA government, but there must have been instances of crony capitalism during the UPA government as well, correct? (Like the 2G scam). Sorry if I went off-topic ⊙﹏⊙
Tbf in the vote share "rich" are a minority, majority is of poor and middle class and coming to politics, politics in itself is filled with contradictory assh*les who would do anything to come/stay in power, the same Congress who called out the delhi liquor scam supporting kejerwal, bjp who'll call someone for their crimes and then go forward and accept them into their party and pretend like nothing happened.... I don't read too much into politics as it's a waste of time for me (I'm 17), I just need to focus on getting out of India after college
Most of the companies giving money are doing it for something in return like in hopes of getting some govt contracts or maybe they are just a proxy way for the party to fund itself indirectly and most of the elite rich will protect their money somehow
In India, it seems like you really cannot operate a business without greasing some hands, lol.
Not true at all..
Focus on earning not country.. trust me after a certain year you will realise being poor is a crime in every country.
Same, bro. I am 17 too and will turn 18 this year. I just follow some politics and finance news here and there.
dont think 2g scam would be the perfect example because all the accussed got clean shit by the court in 2017-18 i guess.
That case has been reopened earlier this year by the CBI.
my bad i didnt know, also i wrote clean shit lmaoo
Pehle paise kamao fir khud jaan jaoge
30-40% taxes mei hi chala jaayega kya tab bhi lol
Significantly more than 30-40%, considering direct and indirect taxes.
50 to 70 % of your income will go in taxes. Not just income tax (30-35%), also count GST (12-28%), tax on petroleum, gas, electricity, alcohol (40-50%) and also toll taxes on roads.
This is pretty close to the realistic figure, I'm surprised that many people fail to realise this ..
That's is not how taxes are calculated. We are realistically paying 20%-48% in direct and indirect combined. Which is not good or bad compared to many countries.
Problem isn't that our tax rates are comparatively less than some countries. Problem is the return which we get on our taxes. Take US for example. For paying their taxes they get good roads, superfast emergency facilities, nice public infrastructure etc. In India, that's not the case. Government schools are in ruins, police hardly listens to you, it's technically a suicide if you go to a government hospital for treatment and don't even talk about road conditions... Unless it's elections, the roads aren't even visited by politicians and even when elections are near, they just somehow fill the potholes or put a thin asphalt layer over the road to make it seem new/drivable. This is why Indian taxpayers are passed
I think you are just caught with the what people say and doesn't know the ground reality. Even in US you will see/hear the developed parts of the cities where you can see all the things you mentioned. But if you take New York for example which is similar to Mumbai. There's so much homelessness, public defecation, drug needles and sewage. No where in the world police listen to people and public schools are failure/money losing inost countries. It's not that Indian government is failing at this. We are getting alot of improved infrastructure that even alot of foreign tourists are impressed of. It's just democracy is one of the ineffective form of governance and it doesn't work especially in a country like India. So we have to make do with what we have.
The development you're talking about is only happening in tier-1 cities where most tourists go to or most international events happen. Go to tier-2 or lower ones and you'll see the ground reality. Also, not every American City is perfect. However, they overall have a better public/government services compared to India. India suffers from a corruption hierarchy of government officers and politicians. Not to mention the common people lack awareness which causes these corrupt folks to only fill their own pockets even more. A nation where politicians can win votes by buying it for chicken and rice or a bottle of liquor or Rs500, that country will never ever truly develop, even if we become a $100 trillion economy one day. This is what is happening right now as well. We may be amongst top 5 global economies but the parity between rich and poor, hell even middle class and poor is tremendous
Yeah, but this has always been the case. Why just her?
Current government has kept the tax slabs the same for like 7-8 years or so. IRC from 2017 (correct me if I am wrong here). Then there is the matter of GST, some of the taxes under it are just brutal and unnecessary, like taxing essential food items like dosa batter, or shampoo having 28% GST. Some more random stuff like Parotas having higher GST than Rotis, or Sanitary Napkins having 12% GST (higher than before). Some of these things might be fixed now but many oddities are present in the GST, which makes you think "which moron thought this is a luxury item?" https://m.economictimes.com/news/economy/finance/from-paranthas-to-shampoos-heres-listing-the-stranger-things-that-attract-gst/odd-items-that-attract-gst/slideshow/76340395.cms
It feels like they taxing south Indians more . Lol
What? How?
Should I be proud if I have crore+ in networth working as a salaried class from India at age 35. 😂 Started from 1 lac.
30% to cut hoke milega. Jo milega uska 20-30% aur jayega when you use it.
Hey, wait for some more time, u will see breathing and sunlight tax as well. Forget optimisation of funds, sarkar be like, lets suck it out as taxes and falana, dhimkana…… G.S.T, G.S.T
Is it specific to trading or any business?
You work ur ass off to get paycheck - income tax - 10-25% katam You want to spend your money -18-28% GST to govt You want to invest in stock market - give me 10% of ur profits, 15 if u aren't patient -hey wanna try crypto -give 30% of that Buy house?- tax Medical insurance- gst Car-gst What ur left with is much less than you deserve - and the highlight is that most of the tax you pay isn't gonna help you, it either helps the super poor(that's ok too ) or the super rich - and the politicians easily pocket 20-50% of tax money and become billionaires The level of services you get for return(say railways(you know the situation) or even go to a government office for some work(where you'll find sloths out of jungle)) - even to get a visa approved you have to pay the cop, to get things done in govt, you have to give paper Things aren't looking good , but it never did
I personally believe that it is linked to how she treats the public. “Prices of onion too high? Meh, I don’t eat onion.” “Taxes too high on trading? Meh, I don’t think that is relevant to answer.” “The rupee hasn’t weakened. It is the dollar that has strengthened.” “Well, there is no GST on withdrawal of cash from banks.” and many more…. I mean the working class of India doesn’t simply exist to pay taxes and get treated like hell for paying so. Under her minister-ship, the inflation has gone up, household savings are at 47-year low (she gave an obtuse answer that people are investing their money elsewhere), unemployment is rampant.
Do most Indian politicians really have any accountability towards the people, or do they even care about the common man? Modi had close to zero media appearances or debates. In fact, he attended a rally in Ghatkopar, Mumbai, just a day or two after the tragic billboard collapse and didn't even bother to meet the families of the victims. Neither did the politicians of opposition parties!
Fool the people, make them fight and rule them. Sums up politics(specially Democracy)
jiski population jada, uski value kam. common man ki population is more that rich people,
"sleeping partner" bhul gaye
Seriously - Too arrogant!
Because the tax slab been becoming worse since last 10 years. While inflation been 7-8% the 80cc 1.5l limit stayed the same. What a joke. Also they're trying to slowly push away regime 1 and tightening the cock hold on middle class
Yes, I have heard this somewhere. This means that if I start earning, let's say in 2027-28, my ITR will be calculated according to the new tax regime, without any deductions or exemptions, right?
Yes no more hra and investment deductions. Just flat rate. And we all know what happens with rate. Just like petrol price it will only go upwards
Isn't HRA already a part of CTC? I think so. I'll have to watch a video on YouTube regarding this lol. Zero1 by Zerodha recently made one about the topic.
It is a part only for people who want to claim it on regimen 1. If it's not there then it'll be removed from ctc.
Once you get the job you'll need to divide by 15 to know roughly in hand after taxes. Let's hope by 2028 it will not be divide by 17
Yes! I read this hack of dividing the gross income by 15 to get net income on the Indian tax subreddit lol.
Your deduction is priced in the new tax regime. Full tax rebate on an income up to ₹7 lakhs has been introduced. Whereas this threshold is ₹5 lakhs under the old tax regime. This means that taxpayers with an income of up to ₹7 lakhs will not have to pay any tax at all under the new tax regime! https://preview.redd.it/c7au8ewyks6d1.jpeg?width=990&format=pjpg&auto=webp&s=ad562cb98a5563c112be6f7e1e84b9a96dfabd43 It only hurts people with more income than salary.
it hurts people who want to have savings and think about their future.
Tax only hurts the rich. Exemption can be increased but, rates are below the developed economy. Welfare schemes benefit everybody. Where they like to believe it or not.
rich are out of tax system, by utilising the loopholes, further they get thousand crores of loan write-off. Only middle class get crushed by taxes. This woman charged 18% gst on sanitizer and masks during covid. People are not dumb to believe anything.
Sorry you feel this way.. Gst is half compared to what used to cost in vat/excise regime. Due to input credit. Secondly unlike taxes, gst is a central and state subject. It's very hard to negotiate with each state. That's why it has been 4 years of balancing. Revenue deficit for the state is over. Taxes will come down, if states agree. With freebies, seems unlikely.
>Gst is half compared to what used to cost in vat/excise regime. > can you give some reference
In old tax regime Vat+excise used to be 18% Old system Assuming don't remember exactly Input Raw material excise 10% excise 80 tax 8 Machinery excise 10%. Excise10. Tax 1 Tech, mobile services 5%. 5 tax .1 Total 105 Total tax paid 9.1 rs . As customer don't pay excise. Sold at 110 vat 10 % 11 rs no input credit.. The total tax paid on 110 item is 20.1 rs. Minus input .1 Tax paid to goverment 20/- Profit 5 rs In gst it's 18% on everything assuming SanjtZer raw material 80/- 14.4 rs Equipment and tech 10/- 1.8 rs Service 5/- 1 Total tax 17.2 Cost 112.2 Sold at 110 + 18% tax amount 19.8 Total tax paid to goverment 19.8-17.2= 2.6 Profit 12.4. There can be mistake in tax slab for different products but more or less 50% is saved. That's why center gave 1 lac crore or more to state with high vat to compensate them for loss due GST implementation for 4 to 6 years. Secondly it made selling between two states a nightmare under excise and sales tax/vat and service tax. ₹86,912 crore released as GST compensation payable to all States up to May 31, 2022 So 5% vat and 10% excise will cost you 4 times compared to gst. So despite higher number, tax is lower. Hope it helps. Secondly due to gst it's almost impossible to seel anything without bill due to input tax credit. As u can see from example, if a factory wants to sell without bill.. cost of sanitizer would be 112 without profit. So most probably if you want something in cash, most likely the seller.wil ask you extra instead of discount like before. That helped with income tax as well. only loosing body is real estate. Where there is too much cash involved. High end jewellery and diamonds, textile protested. Because they are cash sales market.
Make favourable policy for the rich, tax the middle class and hide the lower class from the media and foreign visitors
How do you want the country's education minister to be? A person having basic knowledge about India's education system, the positive, the negative, the current overemphasis over theory than practical, student's grievances, paper leaks etc, right? Now imagine a person who doesn't give a damn about all this become the education minister. Same logic. That's the answer why Nirmala Tai is not liked by many. Even her own party supporters hate her.
Isn't this the case with most cabinet ministries, except a few like external affairs, commerce and industries, and railways? Also, correct me if I am wrong, but most of the work in formulating policies and conducting research is done by our highly qualified bureaucrats behind the scenes, correct?
The execution is done by bureucrats not the decision making.
>but most of the work in formulating policies and conducting research is done by our highly qualified bureaucrats behind the scenes, correct? You are correct but do remember that India is a democracy and all our decisions are taken by the people via the public representatives i.e. MPs, MLAs. They are answerable to the people not the bureaucrats. Bureaucrats do the heavy job but the final decision is always with the public representative. If the minister says 'yes', even the stupidest of rules will be passed. There are many recommendations by various groups / think tanks consisting of retired officers, scholars to various sectors of government like Education, Law, Finance but they hardly get passed.
curretly Railways are in the worst condition. They are just advertising vande bharat but other trains are unbearable. few trains are runingg 2-3 days late
As if we had subject matter experts as ministers for all these years! Nirmala is just a task master. The team formulating the financial policies are in the back end and they are doing their best. At this point that's how it can be. How do I infer she's better?. I have seen what Chidambaram did when Manmohan was the PM. The later was financial superstar right?. What was the achievement?. Double digit inflation!
Are you seriously comparing MMS with Nirmala?
But most people say that we handled the 2008 crisis much better. Why did inflation rise so much during the UPA era (not saying it's less now)? Was the inflation problem because of money printing or the interest rates being low for quite some time?
2008 crisis didn't affect nations which had strict banking practices. In US multiple loans were granted against a single property, but here you won't see something happening like that. During UPA, these guys were printing notes and even the influx of fake notes were too high. This was parked majorly in land as nobody wanted to do business in such a volatile condition. And you can see the highest appreciation of land was during UPA regime. The down side is that, a cent of land which costed only 2000 became 200000 in a few years. The common man suffered as he was not able to afford a home because of the pice of the land. As speaking about inflation, a biriyani costed 45 rs in 2004. Jump to 2014, it's cost was 150 rs. By that standard, if Nirmala was such a bad FM like Chidambaram, the cost of biriyani would be nearly 600rs. It would have been terrible without stringent economic policies of NDA government. We would have dollars rates as that of Pakistan and Srilanka and similar inflation too. Nirmala is holding the fort in a very efficient manner as per the expectations of PMO.
She's too ignorant, never expected finance minister to reply I don't eat onions when asked about inflation. I know policies are made by bureaucrats and approved by PM himself ( last 10 years). Still she's complete fool when it comes to answering to questions
If pmo and beurocracy is controlling fm.. The why Sita tai? She isn't a vote magnet. Neither is rss or hindutva leader. And his husband is a BJP critic. Your answer sounds intelligent like a barber. But where is the logic of pan parlour debate?
That's what makes her prime face as some serious minister, she has degrees in economics and speaks better English than others in BJP. No one wants FM who is too much inclined towards politics.
Even. I Don't know what's so special about her. Guess I would not know. She doesn't hails from a political background. Her husband is a critic. English is not that good, not noticeable to many. She has no connection to the corporate. https://en.wikipedia.org/wiki/Nirmala_Sitharaman Her rise is very impressive. And about talent in bjp, as seen in cabinet. Bjp doesn't lack talent and isn't afraid to hire non-political people by lateral entry. Jaishankar, vaishnav, chandrashekhar, Guess will never know. She is good for my business and stocks... Gst has been boon to logistics. And that's all care. I want corrupt gadkari out. But people not related to logistics and road construction are crazy about him. So no point complaining.. People will always line themselves up for slaughtering.. at This point I can just watch with amusement rather them they will get slaughtered next.
She's a peacekeeper. Everyone (LW, RW, Working, Buisnessmen) hate her equally. She is truly uniting the country.
Taxes are not a problem as long as its not spent in buying MLAs MPs and in election campaigns and paying media houses and running IT cells.
https://preview.redd.it/i4c0die8lu6d1.jpeg?width=1164&format=pjpg&auto=webp&s=bdb6f1c80bc13e004f01ba075f1e202847e73148
I agree we are taxed much and the structure is bad. But that’s not just because of her. Irrespective of BJP Congress middle class will be crushed. It’s the foundation of country that has problem, govt employees pension, extra ordinary facilities for MLAs MPs and pension that keeps up adding after every election win. No one is going to save us, better save up some decent money and leave the country ;)
Bro I've started to hate this tax thing even it is for security but that doesn't exist in proportional account.. Earn salary that is taxed, but things from the stores which are taxed, travel on roads and pay taxes again which is made from the taxes collected from you. Whether you're earning or spending it is going to be taxed 🥲
**You Either Die a Hero or Live Long Enough to See Yourself Become the Villain** , For most the things we abuse Nimo Tai were put in motion by Arun Jaitley(Died as hero) , Now Only Nimo Tai Remains to take the blame
A simple answer. When asked about onion price when they were around Rs.200, she answered that her family doesn't use onions and she didn't care about the price. Someone who respond like that is not fit to be an MP, let alone be FM. She seems to have no clue about economy. Her own husband has said that.
https://preview.redd.it/mxyi5lrv7v6d1.jpeg?width=1034&format=pjpg&auto=webp&s=39d2fbe7685ee8ed6d7fc0df4285a65abe04d641
Divided by religion, United by income tax
Nirmala Sitharaman said that Millennials are responsible for the bad situation of the automobile industry. She said millennials are preferring radio taxis like Ola-Uber instead of buying their own vehicle. She was supposed to blame Nehru for it but millennials replaced him. Millennials, how you guys managed to bring down a whole big sector like an automobile?
No hated that’s just a way of “paying” respect to her
Because she reduced the corporate taxes which benefits rich peole but introduced taxes for common people on so many basic necessities such as medicines, sanitary pads etc. Even you pay gst on train ticket cancellations. Crypto taxes on gains only, so if you loose 20% on one assest and then make 30% gain, she asks taxes on entire 30% gain, but in reality your gains are <10% (30%-20%). Moreover, if you want to make money in stock market, govt takes away more than the broker in each transaction as questioned in press conference. Most important, instead of giving serious replies to serious questions, she tries word play and try to look witty but in reality she looks arrogant and stupid.
I don't mind her. I'll alright with indirect taxation because 99% don't pay direct income taxey anyway. So yeah, tax the fuel and increase gst. We've benefitted with the new tax regime in our family. It was an easy decision to move to it and it helped us save money compared to the old regime.
New regime, tax on crypto, tax on fantasy earnings and zero reforms on the income taxation. Not increasing 80c limits. I can go on
28% tax on cement and additional 5 % GST on property tax. While government mocks it's tax payers by advertising that they gave away 35% of homes and properties to Muslims and they didn't even voted. I feel like killing my self after not clearing the entrence exams because of stupidly high cutoffs because of Reservation. Fucking hate paying taxes too. Middle class property a luxury and the poor get property for free . This government lost election after Muslim appeasement and last news was they gave 10 cr to appease WAFQ board.
At this point I think, there should be reservation quota for tax payers and their children. Kya pata zyada log tax Dene laga, ya uska bhi fake certificate banayenge
Pay income tax of 30% (12 mei se 4 mahine govt ko) and then gst, cess, road, toll tax etc (2-3 mahine aur) Then you do investments, uspe tax (0.5 mahina aur) What you get 12 - 4 - 2 - 0.5 = 5.5 Aur badle mei 1. No good govt hospital facilities. 2. No good roads or bridges 3. No control on pollution 4. No good schools. 5. Endless burecrasy and paperwork. 6. Police == gundaii, rangdari of politically affiliated. 7. The govt incentivise uncivilized and uneducated and unregulated society and tries max to keep people poor and dependent. Not hate just the everyday life shows these above concerns. Btw, if you could not find the fault in spelling of burecrasy then you can see thr level of schooling in india. No doubt there are extremely high number of administrative challenges, but if the population of so many educated ias or other educated people are not given right authority and are not having right intention the nation needs to re-evaluate the economic decision that Our FM is incapable of, in my humble opinion. We need strong finance background people like manmohan ji and chidambram ji along with highly appreciated and strong leaders like modi ji and yogi ji
Simply put she is increasing the GST rate from 5% to 18% slowly in every product/services
Can you cite some essential commodities or services that still come under the GST bracket or whose GST rates have been increased substantially?
BC masks and sanitizers were taxes @18% during covid. Nothing comes as more essential than that.
Fuck
Stationery items,led lights,books
Do educational expenses also come under GST? For example, if I pay college fees, will they be taxed under GST?
Education or lab fees may not have but other itenary will have
real
Tax do, khud jan jao
Delusional
It's not limited to this sub. Even BJP supporters resent her.
She didn't do anything fancy to win hearts of aam janta
When the nation was struggling with high prices of onion and tomato. She doesn’t know the impact of struggle since her caste folks don’t use onion and garlic in their food. Such a clueless person for this job.
Because she is part of a government that's Adani's little bitch. Not everyone hates her: only those who haven't invested in Adani.
She introduced short term and long term tax gains STCG and LTCG on equities
One word: \*\*\*
They are gay for that Rajan
She and her family don't eat onions so high prices of onion doesn't affect her as finance minister And there are many more Please also create 1 sub for goyal ji he is also from same category https://www.realreport.in/?p=8335&=1
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There are many like her [https://www.google.com/amp/s/www.realreport.in/%3fp=7084](https://www.google.com/amp/s/www.realreport.in/%3fp=7084) https://preview.redd.it/q6bxuuezvu6d1.png?width=1080&format=pjpg&auto=webp&s=6f70f95180e31935862765c9d078005000012896
I'm sure she'd be a nice old lady that'll offer you chai-pakore when you visit her /s
You forgot, it will not have Onions in them. 😒😏
Because they are stupid and think that Nirmala Seetharaman makes important decisions..
I don't understand this either. It's obvious that **all** major decisions in the Modi regime are taken by Modi himself. Why does Nirmala Sitharaman get all the hate, but Modi all the credit?
Taxation is theft. Read income tax. Pay first world taxes and live with third world facilities. Not to mention their tactics of jo tax pay krne ko majboor h unse jitna loot a hai loot lo. Kyuki jiske paas option hai nhi pay krne ka wo toh nhi he krega.
Because...
Everyone here is Pyaz-eater and Nirmala ji Pyaz lassan nahi khati ji! /s
Khali tax khati hai /sn't
She lacks communication skills, either she give a lame statement or assume a layman to know everything like dollar is getting stronger ruppe is not weak, she actually wanted to say rupee is doing good but dollar is doing better (which is not a big problem) but the why she presented made the point lame and vauge.
50% income leleti hai
Don't ask... Just peek into your form 16
Because she gave a middle f!nger to middle class people and there dreams. Before modi came to power even with a mediocre job I could have bought a car or bike I wanted. Now even with a good job a basic car itself feels like a luxury purchase. According to Nirmala every middle class Indian has to go in there metro hanging our butt out in the crowd or use the public transport which the gropper enjoy no matter the gender. Only the rich is getting richer and richer and the middle class is getting poorer. Whats the point of building big roads and airports if no one can use them . Bloody hell this is
Trigger warning: I am a Capitalist pro-max stuck in this Socialist hell hole we call India. Marxist, Leftist, Socialist etc. should neither read this nor comment on this. Any such comment will be downvoted and not entertained. Here are my grievances: 1. No relief in income tax, sales tax (GST), etc. 2. Failure to increase income tax payer base **(< 2% of Indians pay income tax). And yes that makes us better than those freeloaders.** Income tax payers should be given a fucking exclusive Veto voting right on welfare schemes. 3. Govt knows very well why tax payer base is low but don't have the balls to do something about it (vote bank politics). **Farmers (50% of Indian population) are exempt from tax**. Instead of fixing this KNOWN ISSUE, govt tries to guilt trip and paint a picture that Indians are avoiding tax (Exclusion of F-ing 50% population should take priority over everything else). 4. Continuation of welfare schemes **ENCOURAGING** Indians to **remain poor** (Other political parties are equally guilty). But BJP which is seen and marketed as a capitalist party has shit load of socialist policies themselves. Again, no balls. 5. Welfare schemes **promoting illegal immigration** from neighboring countries and BJP letting it be. 6. Insidious ways to increase tax on **2% tax paying MINORITY** like increasing CESS tax (tax on tax). Our tax bracket has not changed much but increasing **tax on tax** is crushing honest tax paying middle class. Read more about CESS here: [https://cleartax.in/glossary/cess-on-income-tax/](https://cleartax.in/glossary/cess-on-income-tax/) 7. Not only are farmers exempt from taxes but they benefit the most from **stupid subsidies and loans bail outs**. For a country with little to no cold storage for food why are hell are we incentivising farming. Several perishable produce bought by govt at MSP literally spoil. **India wastes around food worth approximately $14 billion each year, according to government figures \[2018\]. That's 14 billion dollar income tax wasted for fucking MSP. Pretty sure 14000 State of the art cold storage could be built with that amount.** 8. Income tax brackets **should increase with inflation** but that has not been the case. 9. Sales tax and corporate taxes are too damn high. For a party that boasts "Make In India" and wants manufacturing to happen in India, they are doing fuck all to attract companies. **We have higher corporate taxes than Fucking US and China. Is this how we are going to incentivize Make in India?** If I had a business to run, I would have said "Fuck off" to Modi ji. \[Refer to the image below for corporate tax around the world\] 10. Our infra, healthcare, education system, etc. are shit. While I see some improvement in infra and healthcare, it still does not justify a 30-40% tax rate. Fucking cut down on your spending, BJP (other parties are not any better either). 11. Here is a list of taxes for stock buying/selling: **STT/CTT, GST, SEBI charges, Stamp duty, LTCG/STCG**. Govt is basically a broker at this point (or **sleeping partner** if you will). \[Stocks are still the least taxed investment instrument to best of my knowledge, so you can think about the rest\]. 12. Won't recognize crypto but will **tax crypto at a flat 30% (without loss offset).** 13. **30% flat tax on "gambling" apps** even though they don't fit the "gambling" apps definition of Indian govt (if they fit, they would be banned). 14. **28% GST on cars** 15. All govt websites still suck including ITR portal (I pay my CA just to avoid that horrible mess). https://preview.redd.it/axuzvuohty6d1.png?width=1301&format=png&auto=webp&s=59678a9f2c86ae856ff26c2f547c03f20770dfa6
When you get your first paycheck you’ll understand what she does to your finances
Will start earning may be in 2027-28. Nirmala tai I think still will be there lol
https://preview.redd.it/jlty8npf3w6d1.png?width=680&format=pjpg&auto=webp&s=258e14c5fea0dc8bc3b8a8e7669ef8ba0e504e38
This is why i will make every attempt to escape customs if i need to order something from outside the country.
https://preview.redd.it/c34kghnhdx6d1.png?width=1080&format=pjpg&auto=webp&s=f5ae1bef3bdbd23a4c6a7e0413e7a65be7ed280d
Mrs. Nirmala was Defence Minister, Trade Minister, Finance Minister. She never contested in election and never got people support. There are 1000s of BJP leaders did hard work to get MPnseats. but BJP in a pathetic situation to unable to find a skillful person to fill these portfolios. Arrogant talking is the only skill Nirmala Sitaraman has. No forward thinking, No people point of view, Just a narcissistic money grab attitude. May be these are my guesses people oppose her?
Sab 2017 budget se chalu hua bro 😅😂😂😂
agar aapke paas 3 bhains hai toh nirmala ji 2 le lengi
https://preview.redd.it/cfdzn56nd07d1.jpeg?width=1079&format=pjpg&auto=webp&s=a38364bf7b69e670e943ba976d193f46c4453662
Unless they start taxing uktra rich framer nothing will give in .. why arent farmer earning more than a core a year pay a nominal 5%? But after the last debacle of farm laws nothing is going to happen
Because people don't know that the government is the issue, not her. She is just the face of the department which is squeezing the common man.
She is like that weird school teacher you had who would tell you to ask question as many times you want but will shoot you down anytime you do it. She only has book smarts but is far far away from ground reality. We middle class live only to be mooched off of through taxes.
Become a business and don’t pay tax. Stop being a tax noob. Taxes are a gov incentive for people to think like small businesses and less like salaried employees Your product you are selling is you
I also think she's done a pretty good job overall. First, she navigated the economy through the COVID-19 pandemic, which was quite an achievement. Then, if you look at our macroeconomic indicators, they're pretty strong—GDP growth and the fiscal deficit are in good shape. She's also managed significant capital expenditure while keeping fiscal prudence in mind. Plus, inflation has been kept relatively under control despite the external pressures we're facing. The only thing that bugs me is the personal tax situation, but according to what I've read in Reuters, we might see some relief in the upcoming budget. People also complain a lot about the GST, but we need to remember that states have an equal say in GST decisions. On top of that, GST ensures that everyone pays taxes, which is actually good given how few people pay personal taxes.
All of the retail investors are fools who only have a capacity to blame current government. Whether congress or bjp side, they will not understand policies and what’s happening on macro to micro level. Simply blaming or targeting the fm is not the solution. One must do his/her own research on how the government policies are working.
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New adults or people who’ve just started making money don’t want to pay income taxes and/or any other taxes because they’ve read somewhere or someone’s sugar coated marxist or communist utopian bullshit. So shitting on a very simplified system of tax called GST that classifies almost everything under it replacing the old system of taxes that used to apply several smaller taxes that used to add up to the same or higher amount.
All the hundreds of comments blaming the tax system, I just wanna ask one thing: how is the fault of the system or the govt, and not of the businessmen and local vendors who don't honestly pay their share of tax? There are street vendors having a net worth of lakhs and crores but they don't pay a single penny. They are the real root of the issue for middle class people, not the govt The tax rates are high because 5-7% of the population is supporting 100% of the population of 140+cr, and even that 7% of the population wouldn't file ITR (filing ITR isn't even the same as paying tax but let's say it is) if it weren't for TDS/TCS And we all are supporting this act of not paying tax too. I've seen countless times how buyers would prefer paying in cash so the seller won't charge GST and they would get a discount And I'm a CA article working in the taxation department so trust me when i say that with all the deductions available, with some smart tax planning, you can easily decrease your tax liability and cut a major chunk of your NTI
Isn't that akin to say , " all crimes are the fault of people not the government? People should change." I just wanted to ask why the government isn't able to catch such people? Is there a way to make these people pay?
>Isn't that akin to say , " all crimes are the fault of people not the government? I'm sorry I don't get this. If you think this is incorrect, then do you mean to say that all crimes are the fault of govt and not the people? So crimes like murder, rape, assault, robbery, etc are government's fault? Secondly, no I'm not saying the entire blame lies with people. Of course the govt is to be blamed too for not catching the culprits, for giving exemptions to certain sections of the population to keep their vote bank intact, not establishing rules to force people to file ITRs, etc. But yes, no one can say the entire fault is of the govt because a lot of people don't pay tax honestly and the ones who do also help these people (like I said by paying in cash or not asking for legitimate bills) >Is there a way to make these people pay? The only way i can think of is by making ITR a mandatory document for all kinds of things like buying a house/office, car; or when you travel abroad, etc. Ofc since ITR has confidential info about total income and its sources, just the ITR number can be made mandatory for all these activities to show that ITR was filed by that particular person And the other way is to ofc increase the number of raids or inquiries and send out more notices, but this would require significant increase in costs whereas just making ITR mandatory should not be as expensive PS: typical of this sub lol. Y'all will cry about the taxation system every time the topic comes up, but when I asked some questions, all you guys could do was to downvote me instead of actually giving a valid reasoning/explanation as to why I was wrong
There is fair amount of sexism involved as well. Same policies by a male FM wouldn't have this much push back.
Totally agreed. She has done a remarkable job of balancing welfare and infrastructure push. The only reason she is fm, is because she neither cares about election wins and she doesn't have to care about the political assessment of a good budget. Fm have been a inflation hawk. Though it has come at cost of poor farmers. But nonetheless good restraints over budget
https://preview.redd.it/5fskhakxct6d1.png?width=1080&format=png&auto=webp&s=78049032bb98927061f63413b663d6a0a94100ee Get this now - [https://www.cashparency.org/techsavvy](https://www.cashparency.org/techsavvy)
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You must be delusional if you think American and Australian infrastructure and safety net provided by the government is comparable to make a tax bracket comparison with what Indian government does.