Indian Economy: News and Discussion

[Physx32]

Over 4.43 cr income tax returns filed till Dec 25 for FY'21

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler Forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by an individual having income up to Rs 50 lakh and who receives income from salary, one house property / other sources (interest etc).

economictimes.indiatimes.com

There's a difference between "filing" a return and actually paying taxes. Filing != Paying
4% of population file IT returns and 1% are actually elligible to pay taxes

 

[Haldilal]

Ya'll Nibbiars

Maharashtra expressways 1.8 rupees per kilometres average toll costs.

UP Expressways 1.7 rupees per kilometres average toll costs.

 

[Knowitall]

1% of population pay direct taxes, not 4%.

How many people in India actually pay income tax? How this affects the economy?

The number of taxpayers in India is reportedly 1.46 crore, as confirmed by the Central Board of Direct Taxes in a tweet. This is a small number when you take the total population of 130 crore into perspective. CBDT further clarified that one crore taxpayer reported income between the range of...

ca.movies.yahoo.com

Technically 100% of the people in India pay GST you just cannot escape that.

Tai is a curse for this country. Tax the shit out of everything. Throw normal bikes into the same GST slab as luxury bikes then raise the fuel prices. So when no one buys my vehicles blame the youth saying inko to ola uber use karna pasand hai.

We are one of the top countries when it comes to wealth inequality. Atleast in other countries when you pay taxes you get free healthcare good infrastructure free education for kids etc yaha you get bababji ka thullu.

 

[ezsasa]

Take up rest of the conversation in chit chat thread

https://defenceforumindia.com/threads/chit-chat-thread.4046/page-2949#post-2130265

 

[Haldilal]

That's because of your DP, change your DP and save your self.

Ya'll Nibbiars now mod is making off topic posts this is depressing.

 

[Nationalist Manasvi Papa]

That's because of your DP, change your DP and save your self.

I can't. Barkha+Kim daddy is marriage material.

 

[Knowitall]

This is how much a average law abiding Indian has to suffer.

Buying a single car nowadays has the potential to end your life savings in a single day all thanks to this retarded tax system. With a single family earner system in most Indian families it is almost impossible to a healthy savings because one investment in education healthcare or other commodities can finish all your savings.

There are countries with income tax rates higher than India’s. But taxpayers in those countries have access to services that have either never existed or have ceased to exist in India. Public education – from school to college – and public healthcare have disappeared from the lives of the urban middle class. Private expenditure on education and health in India is one of the highest in the world

Income tax payers are forced to pay for clean water, breathable air, private security and – now increasingly – road use in the form of toll. The majority of salary earners are in the private sector, and the tax they pay doesn’t entitle them to pension, unemployment support or post-retirement healthcare. The income tax for this class of people is increasingly becoming a forced charity, alienating them from the state.

Countries with high income tax rates also have a much lower rate of indirect taxes than India. Prices of cars, smart TVs, smartphones, laptops are 20% to 80% lower in most countries with higher income tax rates. A back-of-the envelope calculation shows that the buyer of a mid-level car in India has to pay 58% of his total expenses to government (see illustration). If he meets with an accident, government is unlikely to bear the cost of his treatment or provide income support if he loses his job.

 

[Haldilal]

This is how much a average law abiding Indian has to suffer.

View attachment 132776

Buying a single car nowadays has the potential to end your life savings in a single day all thanks to this retarded tax system. With a single family earner system in most Indian families it is almost impossible to a healthy savings because one investment in education healthcare or other commodities can finish all your savings.

View attachment 132778

There are countries with income tax rates higher than India’s. But taxpayers in those countries have access to services that have either never existed or have ceased to exist in India. Public education – from school to college – and public healthcare have disappeared from the lives of the urban middle class. Private expenditure on education and health in India is one of the highest in the world

Income tax payers are forced to pay for clean water, breathable air, private security and – now increasingly – road use in the form of toll. The majority of salary earners are in the private sector, and the tax they pay doesn’t entitle them to pension, unemployment support or post-retirement healthcare. The income tax for this class of people is increasingly becoming a forced charity, alienating them from the state.

Countries with high income tax rates also have a much lower rate of indirect taxes than India. Prices of cars, smart TVs, smartphones, laptops are 20% to 80% lower in most countries with higher income tax rates. A back-of-the envelope calculation shows that the buyer of a mid-level car in India has to pay 58% of his total expenses to government (see illustration). If he meets with an accident, government is unlikely to bear the cost of his treatment or provide income support if he loses his job.

Ya'll Nibbiars Tai is Gandhis three monkets can hear, see, talk about your sufferings. Only taxes.

 

[HariPrasad-1]

Ya'll Nibbiars The Upcoming hyperscale data park, Mumbai, 30 lakhs sq. ft., 250MW. One of the largest in the world. Invetsment 1 billion dollars.

View attachment 132517

Things are happening at a large scale now.

 

[FalconSlayers]

This is how much a average law abiding Indian has to suffer.

View attachment 132776

Buying a single car nowadays has the potential to end your life savings in a single day all thanks to this retarded tax system. With a single family earner system in most Indian families it is almost impossible to a healthy savings because one investment in education healthcare or other commodities can finish all your savings.

View attachment 132778

There are countries with income tax rates higher than India’s. But taxpayers in those countries have access to services that have either never existed or have ceased to exist in India. Public education – from school to college – and public healthcare have disappeared from the lives of the urban middle class. Private expenditure on education and health in India is one of the highest in the world

Income tax payers are forced to pay for clean water, breathable air, private security and – now increasingly – road use in the form of toll. The majority of salary earners are in the private sector, and the tax they pay doesn’t entitle them to pension, unemployment support or post-retirement healthcare. The income tax for this class of people is increasingly becoming a forced charity, alienating them from the state.

Countries with high income tax rates also have a much lower rate of indirect taxes than India. Prices of cars, smart TVs, smartphones, laptops are 20% to 80% lower in most countries with higher income tax rates. A back-of-the envelope calculation shows that the buyer of a mid-level car in India has to pay 58% of his total expenses to government (see illustration). If he meets with an accident, government is unlikely to bear the cost of his treatment or provide income support if he loses his job.

Vro EV is the future vro, you aren’t understanding masterstroke vro!

On a sidenote, yes my Electric Bike is cheaper in terms of lifecycle costs because it does not require a lot of maintenance and repairs, but the electricity it consumes is a bit similar to buying diesel worth the same mileage.
—#—#—#—

 

[Knowitall]

I wonder even understands the reasons behind brain drain.


Why even blame Indians for leaving. Chances are if you settle properly you will have a infinitely better standard of living when compared to India along with other added social security benefits.

Last year has seen an even greater exodus when compared to the last few years as reservation in new avenues and higher taxes continue to empty people's savings.

 

[afako]

Ya'll Nibbiars

View attachment 132755

The biggest scam is all Expressways don't start from Mumbai:

Mumbai Delhi Expressway will start from Virar
Mumbai Nagpur Expressway from somewhere near Kalyan
Mumbai Pune Expressway starts from Panvel.

If you stay within South Bombay or Western Suburbs you are spending 2 hours navigating within city to reach the start point of Expressway. Lol.

It takes less time to reach from Pune to Panvel on Expressway than reach home from Panvel.

 

[Physx32]

This is how much a average law abiding Indian has to suffer.

View attachment 132776

Buying a single car nowadays has the potential to end your life savings in a single day all thanks to this retarded tax system. With a single family earner system in most Indian families it is almost impossible to a healthy savings because one investment in education healthcare or other commodities can finish all your savings.

View attachment 132778

There are countries with income tax rates higher than India’s. But taxpayers in those countries have access to services that have either never existed or have ceased to exist in India. Public education – from school to college – and public healthcare have disappeared from the lives of the urban middle class. Private expenditure on education and health in India is one of the highest in the world

Income tax payers are forced to pay for clean water, breathable air, private security and – now increasingly – road use in the form of toll. The majority of salary earners are in the private sector, and the tax they pay doesn’t entitle them to pension, unemployment support or post-retirement healthcare. The income tax for this class of people is increasingly becoming a forced charity, alienating them from the state.

Countries with high income tax rates also have a much lower rate of indirect taxes than India. Prices of cars, smart TVs, smartphones, laptops are 20% to 80% lower in most countries with higher income tax rates. A back-of-the envelope calculation shows that the buyer of a mid-level car in India has to pay 58% of his total expenses to government (see illustration). If he meets with an accident, government is unlikely to bear the cost of his treatment or provide income support if he loses his job.

It seems PSU jobs are the only way to survive these days for a middle class common man. Atleast they've job security and proper medical benefits.

 

[afako]

Same story with my relatives too. Elders particularly in bad shape, younger ones haven't had it easy either.

Many suspect Delta has mutated in the region.

Wonder what the long term effects of multiple covid infections would lead to.

Every second person was testing positive for Covid in Kol about 10 days back.. situation doesn't seem to have gotten any better but Bano has opened gyms etc.. life must go on I guess.

The wave has peaked in Mumbai. In first week of January every person and dog was coughing and sneezing on roads. In my family only I was negative rest everyone positive in current wave. I think this was due to the fact that I had more natural immunity due to heavy covid infection in first wave.


Out of that 12 deaths reported in Mumbai today one was a relative of mine 80 year double vaccinated died due to Covid induced pneumonia and failure of organs.

Now everything is back on track, I guess Omicron has burnt through Mumbai. If not for any new variant then bye bye Covid, never meet you again.

 

[afako]

This is how much a average law abiding Indian has to suffer.

View attachment 132776

Buying a single car nowadays has the potential to end your life savings in a single day all thanks to this retarded tax system. With a single family earner system in most Indian families it is almost impossible to a healthy savings because one investment in education healthcare or other commodities can finish all your savings.

View attachment 132778

There are countries with income tax rates higher than India’s. But taxpayers in those countries have access to services that have either never existed or have ceased to exist in India. Public education – from school to college – and public healthcare have disappeared from the lives of the urban middle class. Private expenditure on education and health in India is one of the highest in the world

Income tax payers are forced to pay for clean water, breathable air, private security and – now increasingly – road use in the form of toll. The majority of salary earners are in the private sector, and the tax they pay doesn’t entitle them to pension, unemployment support or post-retirement healthcare. The income tax for this class of people is increasingly becoming a forced charity, alienating them from the state.

Countries with high income tax rates also have a much lower rate of indirect taxes than India. Prices of cars, smart TVs, smartphones, laptops are 20% to 80% lower in most countries with higher income tax rates. A back-of-the envelope calculation shows that the buyer of a mid-level car in India has to pay 58% of his total expenses to government (see illustration). If he meets with an accident, government is unlikely to bear the cost of his treatment or provide income support if he loses his job.

This is because middle class is not a votebank. Today Dhan Jan yojana scheme walas will rise to middle class in 10 years by 2030 when middle class issues will become important and all this chutiya farmer issues and minority issues will become less relevant. That will be a good time to be middle class in India when politicians will compete for middle class votes.

 

[sauntheninja]

It seems PSU jobs are the only way to survive these days for a middle class common man. Atleast they've job security and proper medical benefits.

My cousin's friend got news recently that due to the pension not being paid for a government job she got upwards of one crore lol she is set for the rest of their lives

 

[Physx32]

The biggest scam is all Expressways don't start from Mumbai:

Mumbai Delhi Expressway will start from Virar
Mumbai Nagpur Expressway from somewhere near Kalyan
Mumbai Pune Expressway starts from Panvel.

If you stay within South Bombay or Western Suburbs you are spending 2 hours navigating within city to reach the start point of Expressway. Lol.

It takes less time to reach from Pune to Panvel on Expressway than reach home from Panvel.

Actually it's the lack proper ring roads and motorways inside/surrounding our cities. Our cities are poorly designed compared to east asian cities.

 

[Kumata]

Vro EV is the future vro, you aren’t understanding masterstroke vro!

On a sidenote, yes my Electric Bike is cheaper in terms of lifecycle costs because it does not require a lot of maintenance and repairs, but the electricity it consumes is a bit similar to buying diesel worth the same mileage.
—#—#—#—

U need to wait till your battery needs a replacement. that alone with be near 50% of new car cost and all your savings will be gone in 60 seconds !!!!!!!

 

[Kumata]

This is because middle class is not a votebank. Today Dhan Jan yojana scheme walas will rise to middle class in 10 years by 2030 when middle class issues will become important and all this chutiya farmer issues and minority issues will become less relevant. That will be a good time to be middle class in India when politicians will compete for middle class votes.

Thats the problem. These Jan dhan chutiyas never want to get out of poverty.

To give u a example - Many poor were alloted 1 & 2 BHK homes in nearby cities... They all took possession and in turn rented them out to poor labourers who were looking for cheap housing.. and guess what they went back to same places in slums where they came from demanding new homes!!!!!!!!!!!

 

[FalconSlayers]

Thats the problem. These Jan dhan chutiyas never want to get out of poverty.

To give u a example - Many poor were alloted 1 & 2 BHK homes in nearby cities... They all took possession and in turn rented them out to poor labourers who were looking for cheap housing.. and guess what they went back to same places in slums where they came from demanding new homes!!!!!!!!!!!

They will then again beg for new homes, this is how these chomus live their life, I’ve heard Dharavi chomus were also given homes but they rented them and started living in slums again, these lowlives are being allowed to do so by government as well.