Indian Economy: News and Discussion

[nongaddarliberal]

And nothing of that sort will happen because we can't hit current account surplus without decreasing goods trade deficit.

Fingers crossed. Trade deficit has been shrinking dramatically. We're at a cross roads where we might just have a slight trade surplus if merchandise exports pick up.

 

[Crazywithmath]

Over the last 5 years it has depreciated 21%. Over the past 10 years it has depreciated 33%.

We had to deal with a pandemic and a global economic crisis in the past 5 years. I don't get it, our deficit numbers are looking the healthiest in a long long time, even in an election year and crude is holding steady - what's the reason for pessimistic takes like these?

 

[nongaddarliberal]

We had to deal with a pandemic and a global economic crisis in the past 5 years. I don't get it, our deficit numbers are looking the healthiest in a long long time, even in an election year and crude is holding steady - what's the reason for pessimistic takes like these?

Realism is not pessimism. The Indian rupee has never gone 2 years without depreciating since 1991. The underlying principles are getting better, but it is still on a path of steady depreciation. If they truly turn it around then good, otherwise the conclusion remains.

And I've explained why even a small annual depreciation is disastrous over the medium and long term.

 

[Crazywithmath]

Realism is not pessimism. The Indian rupee has never gone 2 years without depreciating since 1991. The underlying principles are getting better, but it is still on a path of steady depreciation. If they truly turn it around then good, otherwise the conclusion remains.

And I've explained why even a small annual depreciation is disastrous over the medium and long term.

I gave a detailed explanation of how our deficit numbers and fiscal health have never been better and yet you keep talking about historical trends...

Emerging market currencies tend to get stabilized over time (with rapid economic growth) - what is even remotely controversial about it?

Threads



For some reason, even the replies are flooded by eternal pessimists.

 

[Azaad]

Kerala’s Economic Disaster! #business#kerala #indianbusinesspodcast

Credits: CNN-News 18, WION, NBC News, Money control pro, Business standard, TV18,Business Today, ABC news, CNBC, ET now ,Bloomberg originals, Financial Times...

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Chettanova on the investment climate in Gerala & the sakhavus.

 

[NutCracker]

Kerala’s Economic Disaster! #business#kerala #indianbusinesspodcast

Credits: CNN-News 18, WION, NBC News, Money control pro, Business standard, TV18,Business Today, ABC news, CNBC, ET now ,Bloomberg originals, Financial Times...

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Chettanova on the investment climate in Gerala & the sakhavus.

Andho me kaana Raja shampoo boy.. Maybe since national elections are over he's been given freehand to spread his verbose diarrhoea against fellow INDI partner.

 

[Kumata]

First time I noticed we are paying taxes on the interest we received from the Income Tax Refund
FFS the government is milking the salary class to the their limit

 

[Kumata]

Vande Bharat is not a failure. On routes where it's running it has full/healthy ridership. People feel proud to travel in it and click selfies with it. With time more and more trains will be introduced reducing the travel time between major commercial centres.

Agree. Problem with lefties is that they try to run everything down which is not in their narrative and so called pro-poor shit...

VB's are running full and have reduced the distance

 

[mokoman]

View attachment 259349

speaking of IT , noticed that they also started tracking financial investments from last year or so . even opened fixed deposits+amount are reported by bank to it dept for each pan .

this and land digitization + aadhar linking + feed everything into that ai thing and maybe more tax cheater will be caught

 

[Concard]

speaking of IT , noticed that they also started tracking financial investments from last year or so . even opened fixed deposits+amount are reported by bank to it dept for each pan .

this and land digitization + aadhar linking + feed everything into that ai thing and maybe more tax cheater will be caught

A curious question? What happens to people or should I say landlords who have been evading taxes for a decade? I have been observing landlords taking rents in cash. It is becoming too tempting not to report them to IT. We are talking about 40-50 Lakhs in rent per year. These bastards don't even want to pay even 10% of their earned income through rent in taxes. While the salaried class get squeezed. What do you think will be the tax burden when the IT catches them? Will the IT even be interested in them?

 

[mokoman]

A curious question? What happens to people or should I say landlords who have been evading taxes for a decade? I have been observing landlords taking rents in cash. It is becoming too tempting not to report them to IT. We are talking about 40-50 Lakhs in rent per year. These bastards don't even want to pay even 10% of their earned income through rent in taxes. While the salaried class get squeezed. What do you think will be the tax burden when the IT catches them? Will the IT even be interested in them?

yea its all black money .

govt plan is to catch that as tds , buissiness that pay the rent to landlord has to pay 10% of rent as tds to govt , rest 90% to land lord . govt changed that law so it includes salaried folks now .

if u digitise building and land records ( i know its being done in kerala) , possible to catch these landlord people at corporation level .

 

[indus]

A curious question? What happens to people or should I say landlords who have been evading taxes for a decade? I have been observing landlords taking rents in cash. It is becoming too tempting not to report them to IT. We are talking about 40-50 Lakhs in rent per year. These bastards don't even want to pay even 10% of their earned income through rent in taxes. While the salaried class get squeezed. What do you think will be the tax burden when the IT catches them? Will the IT even be interested in them?

Who pays so much of rent every year????. One can buy 40-50 Lakh worth property every year in any city across the country.

 

[AnantS]

Who pays so much of rent every year????. One can buy 40-50 Lakh worth property every year in any city across the country.

usually companies who lease building for business. A typical company which leases a floor or two in SEZ in 2 tier city with seating capacity of 1000 approx would be paying that kind of rent.

 

[indus]

usually companies who lease building for business. A typical company which leases a floor or two in SEZ in 2 tier city with seating capacity of 1000 approx would be paying that kind of rent.

The question was who paid so much rent in cash... Any proper running company would be paying rent in electronic/ cheque form and not in cash.

 

[NutCracker]

Who pays so much of rent every year????. One can buy 40-50 Lakh worth property every year in any city across the country.

PG Hostels with 15 (3*5) rooms and 3 sharing each only 11k (very low bar) will get the owner 50-60Lakh.

One can deduce electricity, and cook , caretaker etc salary still good hefty 30+ Lakh.

 

[Concard]

The question was who paid so much rent in cash... Any proper running company would be paying rent in electronic/ cheque form and not in cash.

We are not talking about companies here. They will always prefer to pay through banking channels to avail tax benefits. I am talking about individual houses. There are landlords who have 30, 40, 50 houses. Each house nets them 15k-20k per month bringing the total to 4-5 lakhs per month. It is not difficult to launder such small amounts every month and not difficult to launder 40-50 lakhs over an entire year.

 

[AnantS]

PG Hostels with 15 (3*5) rooms and 3 sharing each only 11k (very low bar) will get the owner 50-60Lakh.

One can deduce electricity, and cook , caretaker etc salary still good hefty 30+ Lakh.

@indus Actually yes, he raises pertinent point. PG hostels created in Bungalows in places like Gurgaon can easily fetch owner 50 lakh+ in cash from PG Hostel Contractors.

 

[Kumata]

A curious question? What happens to people or should I say landlords who have been evading taxes for a decade? I have been observing landlords taking rents in cash. It is becoming too tempting not to report them to IT. We are talking about 40-50 Lakhs in rent per year. These bastards don't even want to pay even 10% of their earned income through rent in taxes. While the salaried class get squeezed. What do you think will be the tax burden when the IT catches them? Will the IT even be interested in them?

SO the way it stands as on today is that income tax deptt is crediting the declared rent as HRA with employer into form 26AS of landlords for last 3 years. I know it because my landlord was crying on it and ask for excess from me .... It was never the case 3 years before.

So things have become tough for land lords...

 

[Kumata]

speaking of IT , noticed that they also started tracking financial investments from last year or so . even opened fixed deposits+amount are reported by bank to it dept for each pan .

this and land digitization + aadhar linking + feed everything into that ai thing and maybe more tax cheater will be caught

It suddenly started a year or two back for people. i started seeing mine 2 years back at least. Tax cheaters are typically one who deal in cash. salaried never get anything in cash so cheaters never get caught in first place !!!!!!!!!!!!

that vada pav girls claimed she makes 40K a day almost but i suspect if she even have a PAN card. it,s pure cash...

 

[fooLIam]

It suddenly started a year or two back for people. i started seeing mine 2 years back at least. Tax cheaters are typically one who deal in cash. salaried never get anything in cash so cheaters never get caught in first place !!!!!!!!!!!!

that vada pav girls claimed she makes 40K a day almost but i suspect if she even have a PAN card. it,s pure cash...

How much loss goi will incur if say they forfeit income tax upto 20 to 25 lakhs and beyond that a fix rate of 10 to 15 %.