Indian Economy: News and Discussion

[prasadr14]

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Little wonder India has to pander to other countries on many issues.

 

[Haldilal]

I am saying the same thing since few months here. We need to tax property especially the ones which have rental incomes. All the commercial and residential if taxed will bring in 10 Lakh crores to GOI which will massively give a boost to Government spending power.

Ya'll Nibbiars Rental are already under the Income tax, and Pripert taxes are taken by the locql authorities.

 

[Haldilal]

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Ya'll Nibbiars that's why we need the GJEPC park, Ratnagiri Refinery and Vadhan port to boost our exports, expect the GJEPC park which has progressed fast in last few months, both the other two projects are delayed by the Missionaries and the EnvironMentalists.

 

[Kumata]

I am saying the same thing since few months here. We need to tax property especially the ones which have rental incomes. All the commercial and residential if taxed will bring in 10 Lakh crores to GOI which will massively give a boost to Government spending power.

you are late ... this is already getting taxed...

 

[Kumata]

Is it normal? This is not waiving off.

you and me picked this write off....

I am slowly going back to cash off lately...Paytm/phone pe will suffer IMO once people understood... Its pretty Patheitc that i have to pay to use my own money...

Well....

 

[Haldilal]

Is it normal? This is not waiving off.

Ya'll Nibbiars just a normal day in the banking sector, in simple words, banks write off loans, tax payees pays to off float the banks, Then the government prints more money, inflation happens and richer gets richer, poorer gets poorer, the Governments taxes middles class ease the inflation on the poor and then everyone says Maja di life.

 

[Kumata]

Folks what happened to that koutons cloth brand?
When I was smol boi I used to see it's stores at many places.
Many things are gone like that vishal mega mart (it was mostly based in north India)koutons, cotton county etc
@Kumata

All still exist but on very small scale....

 

[Concard]

you are late ... this is already getting taxed...

Yes, they are taxed. But how many report their rental income and file taxes for the same? As far as I have known and seen, none pay taxes on their own until and unless they are deducted at the source. Only few of them pay taxes in order not to get in trouble with income tax authorities especially when they are dealing big amounts. And they are not paying full tax either. Giving all rental and commercial properties which have been rented a unique ID number like RERA and collecting taxes taking income from the property in the financial year would be a better option for GoI.

We don't want to create a class of landlords who keep leeching off of the society every generation. There are property taxes and now we need GOI to effectively collect taxes on rent from residential and commercial properties. This will unburden the existing taxpayers.

 

[Abbey]

 

[FalconSlayers]

Okay so charges will be imposed on wallet transactions and not on bank transactions through UPI.

 

[Kumata]

Yes, they are taxed. But how many report their rental income and file taxes for the same? As far as I have known and seen, none pay taxes on their own until and unless they are deducted at the source. Only few of them pay taxes in order not to get in trouble with income tax authorities especially when they are dealing big amounts. And they are not paying full tax either. Giving all rental and commercial properties which have been rented a unique ID number like RERA and collecting taxes taking income from the property in the financial year would be a better option for GoI.

We don't want to create a class of landlords who keep leeching off of the society every generation. There are property taxes and now we need GOI to effectively collect taxes on rent from residential and commercial properties. This will unburden the existing taxpayers.

Anyone receiving a rental from a salaried employee, Same gets reported and income is reflected in form 26 of the landlord. You re required to give your landlords PAN card while claiming HRA above 8K per month.

This have started since 2 -3 years . Landlord pays the tax on his slab rate for this income...

 

[Kumata]

Okay so charges will be imposed on wallet transactions and not on bank transactions through UPI.

yup... key is to use your Banks Native UPI not paytm or phone pe et all...

Just wondering will it impose any charges if paid via BHIM

 

[SKC]

From what I understand, Indian MSME used to manufacture such products for domestic market consumption and maybe markets in Africa etc ( I have Parle G biscuits heavily consumed in Kenya etc) but then UPA times opened the doors for Chinese products..Slowly slowly Chinese started dumping their goods on our market causing numerous MSMEs to close down.
With the global supply chains being disrupted and realignments of Globalization, there is going to be a resurgence of domestic manufacturing in the coming years. The gov is already giving various incentive to help MSMEs scale up in order to meet the demand and have export ready goods. FTAs with UAE, Australia etc will also help Indian manufacturers in the coming years..

UPA opened Indian market to Chinese exporter immediately after they came to power in 2004.
By end of 2005 the whole Delhi Markets were filled with cheap chinese items and suddenly we could see cheap chinese electronics everywhere and many people started trading business selling imported chinese stuff for cheap.

 

[Abbey]

Electric cabs are taking over Delhi’s roads, with 15-fold surge in registrations in 5 years

Govt data shows electric taxis make up almost half of all the cabs registered in Delhi, up from 1.81% in 2018. Rising fuel costs, subsidies, better charging infra are driving trend.

theprint.in

 

[ezsasa]

Okay so charges will be imposed on wallet transactions and not on bank transactions through UPI.

From horse's mouth...

 

[Haldilal]

Ya'll Nibbiars

Net fleet addition in year 2022 was just 7.
The 82 aircraft were added and 75 were retired by airlines.

Net inductions in 2021 : 141.

Net inductions in 2020 : 45.

Net inductions in 2019 : 35.

 

[FalconSlayers]

From horse's mouth...

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Media creating a lot of confusion, glad they clarified.

 

[Haldilal]

From horse's mouth...

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Ya'll Nibbiars In the simple language:

1 . Zero fees if you pay from your bank directly.

2 . Some fees if you load money into an UPI App and then make payments using that app for more than Rs. 2000.

 

[Abbey]

Goan economy could witness 10.33% growth in 2023-24: Economic Survey

The Goan economy is in a favourable position to witness the growth mainly due to opening of the newly constructed Manohar International Airport at Mopa

www.hindustantimes.com

 

[ezsasa]

Ya'll Nibbiars In the simple language:

1 . Zero fees if you pay from your bank directly.

2 . Some fees if you load money into an UPI App and then make payments using that app for more than Rs. 2000.

zero processing fees, as far as customer is concerned.

still haven't bothered to check what exactly this entails since yesterday, it seems.

allow me to simplify :
- when paytm wallets are loaded from a bank account, paytm gives a small fee to the bank
- when paytm wallets are used to buy the listed items above, paytm gets a small fee from the bank, in paytm's case it could be paying itself because they also have a payment bank.

between wallet and bank, who ever is receiving the money is giving a processing fee to the other. for now user is not being charged.