Yes buyer or seller who made profit only should be charged for tax... So greedy govt with insane tax system... Don't know how many days these guys going to support this mad system
Indian tax system needs reform. Why let me explain through an example. I am earning 18 LPA CTC and staying in Bangalore. Irrespective of my expenses I have to pay 30% tax on it. Whereas my friend stays in my hometown, earns more than 25 LPA through real estate and gives zero tax. Tax is only for salaried people. Kind of Harrassment only. That's why the rich gets richer and poor gets poorer because they don't pay tax. On the other hand the Politicians' salary is exempted from tax. Why? Are they not staying in this country? Are they not using society for their benefit? Then why their salary is exempted?
Chanakya in Arthashastra said that Honey Bee collects nectar from flower without damaging it but in-return pollinates it. Govt should collect tax like Honey Bee.
But, right now, the government is collecting taxes from us like honey, but it is not fulfilling its responsibilities, such as providing free education and healthcare, i.e., it is not pollinating.
@@isaikrishna6862 I feel nothing should be free. But you are right Govt should provide affordable education and healthcare. Most importantly govt should provide opportunities to earn for everyone. Job creation should be focus of this government.
@@coldram1111 I absolutely agree with your point. The Delhi Chief Minister highlights your opinions and ideas about affordable education, healthcare, and creating opportunities. They did, however, arrest Kejriwal on charges of a liquor scam, which have still not been proven. The Modi government is believed to mainly benefit the wealthy, leaving the poor and middle class increasingly insecure. This must change; otherwise, the income gap between the rich and the poor will continue to rise, making living in our country difficult for every ordinary citizen.
@@isaikrishna6862 Don’t want to indulge in political debate because rather than finding solutions to problems it creates more problems and blame games.
its not about god ...its about educate voter whos just fanatic on other issues during voting time and just vote on instant issues mostly pakistan hindu muslim and false deshbhkti...
@@rsdogra1595yes from now we should vote on .caste census.monthly free 10000 which is again on taxpayers money. We should vote for increasing the reservation to 60%.yes these points of opposition is very good compared to current gov😂
I pay tax at 30% for my salary and then another 30% on the profit I make out of the already taxed investments. And then I feel so tired and just want to go to a restaurant to eat something. I put petrol and voila! - I am bombarded with fuel tax. Now I am hardly moving. Finally I manage to make it to a small restaurant and there you are, 4th round of milking tax from me in the form of GST. I die of shock and desperation before even the little food I ate reaches my stomach 😞 My everyday life continues without any significant changes around me, except for the noticeable fact that my wallet is getting emptier by the day and fully exhausted much before next salary hit my account. At least I am thankful to my wife for not charging me any direct taxes for delivering our children. I love her.
Which is normal. Tax on your income is different from Tax on your Capital Gains...if you want to reduce your taxes make it Long term capital instead of short term gains...Stock market is directly propotional to Govt and their confidence building measures.. you are reaping only because of the governance
@@grajiv1979 Technical aside, my whole point is the double taxation which we consider as normal or made as normal where people tend to accept it part of their lives like you for example
And sir...another thing is on bribe that we need to give and to face the unsecured society where the richer guy can do hit and run and escape by writting small essay
Singapore has zero natural resources yet has one of the lowest taxes and one of the best public infrastructure. Taxation is easy, compliance is high. I think it’s not about economics but about law and order.
Also consider the population and demographics of Singapore. Due to income disparity the burden for direct taxation is on 4-5% of the total population. The rest of the population gets all the freebies. All are not poor, just not in the tax system. Street vendors , shopkeepers etc all earn enough to pay itr but they don't and enjoy all the freebies as well because on paper they are poor.
Me Naga seeing UP & Bihar rural live.. my eyes were flooded with tears over their misery and also my heart was torn with rage over Modi's Govt.. claiming riches economy surge
we need a reform for it, it will not change in one day. India's tax to gdp ratio is only 19% or something and if we see the western countries ratio, it is 40 50%. And this is happening because very less people in India pay taxes. When our tax to gdp ratio increases then only you can expect good infrastructure, education and all. 140 crore hone se pehle sochna chahiye tha ye, samjhe?!
@@lasyamehta631No mehta ji... Meh aap ka bap ka zamana meh bhi tha... This is the worst government ever seen. Not jist middle class killers makinng racial riots too....
No doubt we have the worst Finance Minister. But still better than congress, it will push the country towards bankruptcy with its freebies. Tax rate relief should definitely a thing that people should ask for from political parties though.
In 1970, the government set the taxable income threshold at 2,00,000 rupees when the exchange rate was 1 USD to 7.5 rupees. So 2,00,000 rupees which is equivalent to 26,666 USD at that time a substantial amount then, which today would be around 22,49,000 rupees. This meant people were only taxed if they earned at this high threshold, making 30% which was reasonable for that time. But here’s the question: why hasn’t this threshold changed with the depreciation of the rupee? As our currency’s value declines, so does the real purchasing power of our incomes. Shouldn’t tax policies evolve to reflect these shifts in economic reality and ensure fair treatment? When the value of our money falls, so should the tax burden for ordinary citizens struggling to maintain a fair standard of living.
well that's how a country runs before gst there was vat cst wealth tax luxury tax entertainment tax and so on. Most of it was just subsumed into GST. and tbh gov earns more money through GST than Income Tax:)
@@Anirudh_C_J Don’t just encourage ppl to cope and tolerate bad governance. It’s not that ppl are not willing to pay gst. It’s that where is the promised improvement in basic needs? Look at fukin China. It has invested so much back into its ppl. In the form of infrastructure, education,healthcare. And it did not take forever to do it. At that time they had more population than INDIA. What went wrong?
@@supermansud VAT on most of the items got subsumed into GST as far I know VAT is charged on petroleum products and alcohol maybe I might have missed some but GST took over almost every product/service which were under VAT
@Anirudh_C_J everyone knows that Sherlock. What people are asking for is lower direct taxes on individuals so that tax evasion can reduce and people can actually look forward to earning more. Middle class jumping to the defense of the government on social media is funny. Stop this self defeating over intelligence and ask for what you need like the poor are doing
That assumes black money is only used for tax evasion purposes Congress, Pakistan, Saudi, USA, China etc all have used black money in India to fund terrorism, Wahabism, Communism and political strive.(eg - planning to tag 26/11 as saffron terror/RSS plot) That's a historical fact!
+ if tax is used properly Traffic light is missing, same road is re-constructed each year we need proper tunnel for sewage and a tunnel for wires/pipes without digging the entire road
How many people in this country pay tax? Less than 5 % of the population. How can you get the same benefits you get in Europe or any other developed country?
If that is done, it will increase prices for non-taxpayers as taxpayers will increase their spending on essentials as well. Suit-boot ki sarkar jibe is the other side of the same coin which will be used by opposition.
Real estate has always been a sector always away from Government clutches. Many have selfish interests including Netas. Many politicians buy land at throw away prices , convert land use, and act as middle man minting money many Times, taking advantage of theirs Power
Consider a sale of Rs.1,000. Now GST@18% Rs. 180, Say Profit Rs. 200 IT@30% Rs.60. The business owner Gets Net Rs.140, Government Gets Rs. 240. That is not end. If the owner spends his Rs.140 again GST@18% Rs.25, Net tax is Rs. 265. If the tax is spend for the people, without corruption, it is okay.
@@dhrumilmodi2813 Yes, you are right for sale of Goods, But considering Sale of services ITC will be very minimal. The Government gets more than the Business man, even if he makes a profit or loss. Of course tax money is used for infrastructure development.
Kudos to Ganesh and Team for always coming out with good stuff. Would also love to see a channel on the state of Early Education in India, compared to even countries like Vietnam.
@@deep0123456 well post Vietnam war they invested in early education with extreme focus to make it an industrial powerhouse today. So if we have to see what india was doing in 1975, things will become more clear. The present state of the nation is reflection of what was done or not done.
@@deep0123456 If you ask around you will be told that this channel is part of BJP’s PR program. While there is some correct data like the price of oil from 1973-1981, the theories or Reaganomics only led to making the rich, richer and the poor, poorer. You can track the GINI index of the US from 1981-2021 to see how wealth and income inequality has gotten worse as tax rates were reduced. Think School also cherry picks data to suit a narrative. They forget to mention that Reagan’s team back-pedalled on a lot of their taxes by raising the capital gains tax to its highest effective rate in history (and close to its highest nominal rate in history) in Reagan’s second term and might have been responsible the 1987 crash (Google Black Monday, October 15, 1987). Now I do not propose that the Government should raise taxes. If you study the current tax code you may notice that the maximum corporate tax rate is LOWER than the maximum Individual tax rate. If I remember right the maximum corporate tax rate is around 25% while the maximum Individual tax rate is 40%. My proposal would be for the government to rationalise this difference. Several theories have shown that if taxes are increased to where the effective tax rate exceeds 20% (not the maximum marginal rate but the effective rate) it creates enough of an incentive for people to find ways to avoid paying tax. So the government needs to reduce the effective tax rate for individuals to match the rate of corporate taxes while widening the tax net. Think school is right in stating that India had a punitive tax regime in the 70s. Not only was the maximum marginal tax rate 93.5% but there was also an annual tax on all wealth (real estate, stocks and shares, gold, jewellery etc). Effective tax rates hence often exceeded 100%. Is the current tax code better. Of course it is. But the reduction in taxes was ushered in NOT by Mr. Modi but by the PV Rao-Manmohan Singh government, this was carried through by successive Congress and BJP governments. What Modi has done effectively is to ensure better compliance of payment of taxes and remove several loopholes (not all) that benefitted a few (whose personal ethics permitted them use these loopholes holes). Would a Congress government done any better? I don’t think so. As long as Congress insists on foisting Rahul Gandhi as their PM candidate, I do not see them performing at the levels the BJP is doing. Mr. Gandhi’s only claim to fame is that he was born into the Nehru-Gandhi clan. He hasn’t proven himself in any serious administrative capacity (being the head of a party which your family effectively owns does not count).
Recently came across your channel and I love it., Please, I would like to know if we're restricted to only Indian stock or if we can also buy US or other foreign stocks. I am new to this and everything is still confusing
Research dividend aristocrats and choose six to ten companies with over 25 years of dividend payments. Consider working with a financial advisor to build a strong portfolio.
@@Higuannn Speaking from personal experience, I would say engage professional guidance. Not sure where you get an experienced one, but if your knowledge of the market is limited, it seems like a good bet
@@Jaymilnere The decision on which Advisor to use is a very personal one. I chose to take guidance from the popular Sharon Crump Cline to meet my goals. All the information you need to set up an appointment is on her web page.
@@hullbruce I like to give this a try even if my needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it
आप ने ये बहुत हीअच्छे से समझाया है कुछ समय पहले यही सवाल किसी ने वीत मंत्री जी से पूछा था और कहा था की सरकार स्लीपिंग पार्टनर ही शेयर मार्केट में खाली टैक्स लेके जाती है उसका जवाब उनके पास नहीं था प्रॉफिट करे तो टैक्स भरना पड़ता है लेकिन वही साल लॉस करते है तो वो उसमें से डिडक्ट नहीं करते भले शोर्ट टर्म या लोंग टर्म का प्रावधान है.
how will it happen? Idt reservations is that much big problem now log abhi bhi jati par vote karte hai aur castism daily life mein bhi follow karte hai
@@biswajyotikar4007giving free things will not solve any problem , killing middle class with tax is awfull , goverment should reduce tax , acts against corruption, help poor by providing them quality education and health care. At some point I feel like White British were more king to us than these black British , atleast white British were foreign people but our black British are our own people treating us like animals
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
@@akeshravi9640 LOL, you are talking as if helicopter is essential for travel for the common man. Even with current tax rates for helicopter, you don't see helicopters everywhere now do you? The problem is necessities are getting charged too heavily, while in other countries necessities are getting lesser taxes/exempt.
@@Feuer-ks3rr LOL, I know helicopter is not used by common man..But no country will tax same for helicopter and bike at the same rate, as tax of helicopter will be always less than the taxx on bikes because production cost of helicopter is more than bike.... My reply was limited to her above mentioned comment.. I agree with you tax is high,but if you have lakh to pay for KTMs and R15s of the world then I think you can pay tax as well like Khatakhat Khatakhat 😀😀
@@akeshravi9640 although, helicopters aren't always taxed lesser. In the UK, just a single 300km travel would give a helicopter a £26 tax for air passenger duty which is about the tax rate of bikes there annually for affordable bikes. In Japan, tax for bike can be charged only upto ¥6000 (roughly 3k INR), which is much more reasonable than our tax rates, China charges upto 10%. Just because someone can afford to spend a few lakhs on a decent bike doesn't justify the current tax rates, which is not friendly for the lower middle class.
Direct Tax is very high as compared to services & facilities received by Tax Payers. 1) LTCG on immovable properties - 21% 2) LTCG Equity - 10% 3) STCG - 15% 4) STT This is multilevel taxation.
@@grajiv1979don't steer the topic around if you don't have a good counter argument. The present government has been here for 10 years now, nothing effective changed. Let's see what FM presents in this year's financial budget.
This is INSANITY!! I can't even imagine myself doing this much research and speaking out so fluently in front of a camera while analysing 10 Billion different values!! Much much love and RESPECT to you, Ganesh bhaiya!
The trickle down effect will only work when companies have an incentive to invest rather than taking everything home. Hence, 10% corporate tax for the the profits invested and 25% corporate for the uninvested profits should encourage them towards trickle down effect. Hope this suggestion helps.
While Ambanis and Adanis enjoying loan waives, "Govt. has waived off loans worth Rs 3.5 lakh crore for the 15 richest people in India in 2019 alone" Welcome to Ambani's India
Loan waiver as the term suggest is the government waiving off the amount due to the banks. Thus usually happens only for farmers . The onus of repaying the banks is on the government and it does so. This is only done for farmers or not done at all. Why would govt pay such a huge sum to bank rather than letting Adani nd Ambani pay it themselves. It is such a ridiculous statement that the govt waived of loans of entrepreneurs created by opposition to misguide uneducated ppl of society like u
Modi is not a factor at all .. Ambanis employee he has no power ..speeches do not win anything ..400 par ab ki baar..he is empty vessel make more sound
- Fuel Prices - All time High - Groceries - All time High - Loans Interests - All time High and impossible to get for common man - Interest on bank deposits - Very Low - Vegetables - Expensive than ever - Telecom prices - All time High - Education cost - All time High Development - ? - Corruption - All time High -
wow ,what a classic video which shows our indian economy. I was watching it like a movie with good background music and visual treat. hatsoff to the creator.
Most worthy 30 min of my day. this not just a case study but an awareness about our economy and their is an urgent need that the people of India must understand this . kudos to the team for presenting the best case study on taxes and am always eager to watch your upcoming episodes!
Nice video.... Eye opening. When business minded people run government,all they want In return is money from the customers. Here customers are people of India.
Thank you Ganesh - The principal of Think School❤. You have proved that a school can bring a very big positive attitude. Indians really need this type B-School ..
Now, we wouldn't be needing this video if nothing hurt us. Unfortunately, we need an economist with a vision to be on track again. Even if that happens, changes will take longer duration as the gravity of the damage is huge.
Who all are witness like me that at 2015 1 rupee candies (peanut candie) now cost 5 rupees . This examples can apply for tons of products and things but not for my father monthly salary.
In fact,Indian economy suffered a lot due to De-monetization & GST. Note that even after that,IT Dept caught lot of unaccounted money,gold, property, jewellery,diamonds from many people.
It’s a very nice presentation and simple to understand. It reminds me of the ArthaCranthi proposal by the Pune based organisation which came 10 years ago. I understand that PM Modi sat with them but nothing fruitful came out of it. In fact the demonisation was a twisted reform in the proposal in which they recommended for the highest value currency note to be 50 or 100. Modi withdrew the 500 and 1000 notes and introduced 2000 notes which made things easy for black money lobbyists. In the proposal they advised abolishing personal and corporate taxes and to introduce a 1-2 % tax at the transaction level for all transactions. I think the Artha Cranthi proposal is still available on internet. It will be worthwhile to go through it.
There is a saying , CHORI HAR KOI KARTA, SIRF BHAAV LAGANE VAALA CHAHIYE which is probably true for 90 percent of people. It became apparent during demonetisation. Demonetisation would have been a success if some people among general masses had been honest, but we all know how many bankers ensured back door replacement of notes of higher denomination which came to light when some were caught. Also many poor people stood in line to replace others money for small commission. So whether rich or poor, educated or uneducated, most people are ready to do corruption. All they need is scope and price suitable for them. So lets not blame politicians always.
You play with the 52 cards in the deck. There is no point in crying that the game is unfair because you are bad at it. Good government would have foreseen the problem with a massive exercise like demonetization.
@@eraiyanbuvetrivel3553 in order to win the war, you loose some fights, do some research about Pakistan' s economy and terror funding in India after demonetisation
Just 1.5% population pays taxes..it's shameful that the gov demands taxes from such miniscule population without any benefits n quality gov services for tax payers ..
In 2019, India reduced corporate tax by 8 %, but businessmen did not set up any new factories and kept the tax rebates in their pockets, increasing the GANI factor in India and also increasing unemployment.
If you think by taxing high to corporate they will give employment then you are wrong. They will definitely move to country like UAE , Saudi where they are provided tax free. Thats why many rich person from UK also moved to UAE and Qatar where they are tax free.
That is the point -- Additional money hand due to tax cut need not go to economic activity -- It can go to pockets of few people OR Go out of India through Hawala operators
@@vidyanagarajan9135 That is why affirmative action required by Government in job creation -- Let there be GOVERNMENT SECTOR IT COMPANY with same Rules and regulations like that of TECH companies -- NPCI brilliant subsidiary of RBI is classic example .. Government has bog role to play in job creation
I really don't understand the comments section, there was almost no political points made in the video, yet most comments are political. Maybe Its just too early for proper comments to surface, coz these guys seem to only comment based on thumbnail and title 😮💨 Anyway, as always a great Video!
The problem in India is not high taxes, but low tax base. Govt should try to increase the tax base from the current 1-2 % to 10 %, then we will see reduction in income taxes along with benefits.
20 percent people giving tax and rest of them are using for the free facilities 😢😢😢 still how many years we need to go through it 😢😢 bring one tax one nation rule....no more free facilities
There is not a single person in India who isn't taxed, if you want to buy a nail in India, you are paying tax. If by "tax" you ONLY mean income tax, then you are fortunate enough to have a job that requires you to pay it. The rest of the people have to create their own means to put food on their plates.
@@Unacceptable. Very well said. The top earning population of our country is living in an utopian world. And most of these people r generating the majority of India's Black money!!!!
One point not touched in this video is % of people paying income taxes during Regan's era in USA and today what % of people paying Income taxes in India.. difference is causing the pain. Start with charging tax from Farmers having income above 1 Cr. And fact what I understand from video is,.. be it less tax or more tax, in both cases, rich are getting rich and poor is getting poor.
@@FEN423 Every citizen is paying taxes not only farmers. And I referred to those farmers whose income is more than 1 crore not small farmers. If you're a salaried person you earn this much then you have to pay income tax. Then why are these farmers exempted from taxation?
@@Deepa-ki8km pls check taxpayer data especially above 1Cr income, then check how many Farmers earn 1Cr. If you look at amount of time and machinery applied against IT amount, u will simply Abolish IT and reinstate Corp Tax cut. Don't single out Individuals but look at the organised loot by NPA to private company. NCLT selling bankrupt companies at only 5% of receivable value. 95% of debt is written off and lending banks booked losses where account holders are being charged for taking banking services as well, double loss, to public. Nobody stopped salaried people from Farming. 😂
To an extent reduced. In the year 2010, Black money was all over in calicut, kerala. But now it is difficult to find these black money fraudsters in the city. It shows the difference
@@NehaSingh-px7ni nothing wrong with that but there are hundreds of channels does the same political news/stories/analysis video on the other hand very few business channels exists on the standards of think school I for one subscribe to this channel specifically because he inspired me to become an entrepreneur as a viewer we are just making suggestion wether he takes it or not is upto him
Seriously Bro, I have been following your channel from almost the beginning. Most of the policy related videos seems to capture less than half of the actual picture. Please either try a wholesome picture of the policies. Or focus on business videos which carry more knowledge and less opinions.
Wouldn't it be better if the government reduced taxes and mandated that individuals invest 75-90% of their tax cut benefits in the government or private sector, allowing them to use the remaining amount for personal expenses? Similarly, companies should be required to invest 80% of their tax savings in the Indian market and research and development, ensuring that these investments are not linked to high-level company personnel. Additionally, research and development funds should be allocated to universities and independent Indian companies. This approach would ensure that tax cut benefits are invested in India without significantly impacting the salaries of high-level individuals or company owners.
Such a tax regime existed prior to 2020 for certain companies who availed tax holiday/ exemption (the recent one which has sunset in 2020 under section 10AA of the incometax Act, 1961 were availed by companies in Special economic Zones (export zones) which required reinvestment of profits to claim such an exemption). The government, since 2019, rolled out a concessional tax regime for corporates @25.17pc without any tax holiday/ deductions. Currently, central and state governments have announced fiscal incentives in the form reimbursement of GST, stamp duty, lower rates for electricity etc, to encourage Industries to build/ expand. These incentives require min amount as investment including employment generation threshold to be met. Perhaps, @Thinkschool can cover this in a future video to give us an idea of how these incentives have bolstered the economy. Separately, a huge shoutout to Thinkschool for this wonderful rendition. Was glued the entire time. Very thoughtful and well organised vid as usual. Cheers.
my be difficult to achieve because the defination of how it is, invested is broad, do they make the poeple chose? then someone could get a non working asset like gold or land which is the same as parking money. Do they take the money and invest it themselves? that is the same as PPF scheme which is already going.
The govt can emphasise more on sec.80JJAA of income tax act and include clauses wherein the companies invest a threshold limit of say 60-75% of Free Cash available to them according to their previous audited balance sheet, in order to avail lower tax rate. It would be a win-win situation to both govt and the company.
You seem to be back! Congratulations this is a very good video, it took time but it's here. Keep the great work going and don't loose focus please. We need you.
Sad reality. These days a lot of small business holders who earns in lakhs or crores are not even paying any taxes at all. At least, they should pay some tax if not huge tax. And at least, lower middle class taxe should be minimize if not much.
u made me addicted to your videos Ganesh sir ... i wish our teachers taight us in this way.. if u were my teacher trust me i will have 100% attendance in my class
Crisp and clear insights/explanation on Taxation and its adverse effects on economy Always loved your case studies👍🏼 Keep up the good work without any biasness towards anything
Wonderful case study! The amount of research that this channel does to curate these videos is commendable. Think School is a pure "Gold Mine" of knowledge and insights.
Just a quick Q - when we are already paying 30% direct tax on income + indirect taxes on goods and purchases, can the govt not make our investments and savings tax free?
Good question. The biggest pain I personally feel is the tax I have to pay on investments, I mean why should I??!.....I will do the research, I will take the risk and then I will invest while making certain compromises, but still the government gets to enjoy the investment benefits by taxing the shit out of my work without absolutely doing anything.
Hi Mr. Ganesh Recently I took a five days class in taxes and I feel it is not full and satisfied i don't know why but every time your content given that satisfaction and increase the target of education please continue this....
This currently happens my friend just purchased flat in posh area of Noida. for example lets say flat costed 1 crore, so they came to conclusion that in official document seller will write 30 lakh for the flat and 70 lakh will be black money sent...It's super common in India everybody does that. even gov got so much gst that they are hiding it now. just wow
Poor people get go another country We cannot keep lifting their Bhoja. The reason they are poor is because they do not understand how to make money. They keep pulling rest of us down.
when a lake dries, the fishes die not the crocodiles. only a fool would think demonetising physical currency would lead to seizing of all black money held by rich ppl and we are a country full of fools
This is the first time I am watching your video and it's really very insightful. As a student I aspire to learn about the Indian Economy and the business world. Really liked the way you brought forward the shortcomings of the government in managing taxes while at the same time acknowledging the efforts a government makes.
According to latest data, only 2% of Indians pay direct tax. Why not decrease tax rates but tax everyone. Or put tax limits for people earning differently.
here in this country, Rich are treated as if they have committed a crime by earning more!! Hence they find a way to escape and middle class pays the taxes all of these things happen bcz some "so-called poor are just refuse to work hard"
The question is, what are we getting on ROT returns on taxes? What we are paying, no proper roads, no safety, no clean water The county is filled with air pollution....😢
The biggest irony is brokerage and taxes are charged on both buyer and seller simultaneously for one transaction.
Yes buyer or seller who made profit only should be charged for tax... So greedy govt with insane tax system... Don't know how many days these guys going to support this mad system
of course indirect gambling is taxed
@@matterless The greedy government has to pay for the other development which was neglected for so many years.
@@vidyanagarajan9135spoken like someone who does not pay income tax
This is how brokerage work. Are you novice?
Indian tax system needs reform. Why let me explain through an example.
I am earning 18 LPA CTC and staying in Bangalore. Irrespective of my expenses I have to pay 30% tax on it.
Whereas my friend stays in my hometown, earns more than 25 LPA through real estate and gives zero tax.
Tax is only for salaried people. Kind of Harrassment only. That's why the rich gets richer and poor gets poorer because they don't pay tax.
On the other hand the Politicians' salary is exempted from tax. Why? Are they not staying in this country? Are they not using society for their benefit? Then why their salary is exempted?
This is the real reason for inequality, real estate
Very good point raised
Why does your friend have 0 tax?
Ya,. Some reforms to be taken to collect from the illegal business
Politicians should be the example and pay tax first….did anyone do it no….
Chanakya in Arthashastra said that Honey Bee collects nectar from flower without damaging it but in-return pollinates it. Govt should collect tax like Honey Bee.
But, right now, the government is collecting taxes from us like honey, but it is not fulfilling its responsibilities, such as providing free education and healthcare, i.e., it is not pollinating.
@@isaikrishna6862 I feel nothing should be free. But you are right Govt should provide affordable education and healthcare. Most importantly govt should provide opportunities to earn for everyone. Job creation should be focus of this government.
@@coldram1111 I absolutely agree with your point. The Delhi Chief Minister highlights your opinions and ideas about affordable education, healthcare, and creating opportunities. They did, however, arrest Kejriwal on charges of a liquor scam, which have still not been proven. The Modi government is believed to mainly benefit the wealthy, leaving the poor and middle class increasingly insecure. This must change; otherwise, the income gap between the rich and the poor will continue to rise, making living in our country difficult for every ordinary citizen.
@@isaikrishna6862 Don’t want to indulge in political debate because rather than finding solutions to problems it creates more problems and blame games.
@@coldram1111 OK no debates!I respect your decision.
May God show mercy and save us from financial dictatorship under Modi.
Then you want congress who help those jihadist bring sharia law and turn india into indiastan?
Then you want congress who help those jihadist bring sharia law and turn india into indiastan?
its not about god ...its about educate voter whos just fanatic on other issues during voting time and just vote on instant issues mostly pakistan hindu muslim and false deshbhkti...
@@rsdogra1595yes from now we should vote on .caste census.monthly free 10000 which is again on taxpayers money. We should vote for increasing the reservation to 60%.yes these points of opposition is very good compared to current gov😂
@@rsdogra1595 ohhh bhai Mai kya bol rahahu tum kya bolarahe hoo.ithana koi gawar khisa ho sakta hai?
I pay tax at 30% for my salary and then another 30% on the profit I make out of the already taxed investments. And then I feel so tired and just want to go to a restaurant to eat something. I put petrol and voila! - I am bombarded with fuel tax. Now I am hardly moving. Finally I manage to make it to a small restaurant and there you are, 4th round of milking tax from me in the form of GST. I die of shock and desperation before even the little food I ate reaches my stomach 😞
My everyday life continues without any significant changes around me, except for the noticeable fact that my wallet is getting emptier by the day and fully exhausted much before next salary hit my account.
At least I am thankful to my wife for not charging me any direct taxes for delivering our children. I love her.
🥺
Which is normal. Tax on your income is different from Tax on your Capital Gains...if you want to reduce your taxes make it Long term capital instead of short term gains...Stock market is directly propotional to Govt and their confidence building measures.. you are reaping only because of the governance
@@grajiv1979 Technical aside, my whole point is the double taxation which we consider as normal or made as normal where people tend to accept it part of their lives like you for example
And sir...another thing is on bribe that we need to give and to face the unsecured society where the richer guy can do hit and run and escape by writting small essay
Do you earn 1 crore per annum.
Only 1 crore annual income has 30 percent income tax btw.
Singapore has zero natural resources yet has one of the lowest taxes and one of the best public infrastructure. Taxation is easy, compliance is high. I think it’s not about economics but about law and order.
Singapore is a thriving financial hub and has a lot of capital invest
Also consider the population and demographics of Singapore.
Due to income disparity the burden for direct taxation is on 4-5% of the total population.
The rest of the population gets all the freebies.
All are not poor, just not in the tax system.
Street vendors , shopkeepers etc all earn enough to pay itr but they don't and enjoy all the freebies as well because on paper they are poor.
There is no corruption in Singapore.
They don't have a idiot like modi.
Cent percent correct
This is not just taxes. This is Tax Terrorism
finally some 1 with brains
@@jsrintegratedfram4911 🤣
😡
Lol
CONgi looting money is Halal?
Me Naga seeing UP & Bihar rural live.. my eyes were flooded with tears over their misery and also my heart was torn with rage over Modi's Govt.. claiming riches economy surge
Correct modi must resign people will be free from tax and GST problem modi hand
😂
Tax on cement is 28% it's like suicide of middle class
Building costs have sky rocketed after 2019.
Is this really true? Holy fcuk!
Kharid raha hai Adani saari cement company, fir 12% ho jaega but cement rates Kam nahi honge
bjp supporters enjoy
@@babujohn6655 congress supporter also enjoy :)
India's tax rates are horrible given the standard of living here. The government is just a legal gunda at this point
it ALWAYS was
we need a reform for it, it will not change in one day. India's tax to gdp ratio is only 19% or something and if we see the western countries ratio, it is 40 50%. And this is happening because very less people in India pay taxes. When our tax to gdp ratio increases then only you can expect good infrastructure, education and all. 140 crore hone se pehle sochna chahiye tha ye, samjhe?!
Perfectly said, plz add, "at the cost of blood and sweat of law abiding and tax compliant common people
@Mahesh-z6u people who pay for security guards are efficiently evading taxes, while the security guards themselves are paying hefty taxes.
@Mahesh-z6uwo v thik se nhi kr paati givt
This government is definitely killing middle class dreams ..with taxes
@@lasyamehta631No mehta ji... Meh aap ka bap ka zamana meh bhi tha... This is the worst government ever seen. Not jist middle class killers makinng racial riots too....
@@niceguy3099 many factors are responsible for it.
@@lasyamehta631bhakt triggered
indira congress is laughingin the corner...93% tax
No doubt we have the worst Finance Minister. But still better than congress, it will push the country towards bankruptcy with its freebies.
Tax rate relief should definitely a thing that people should ask for from political parties though.
In 1970, the government set the taxable income threshold at 2,00,000 rupees when the exchange rate was 1 USD to 7.5 rupees. So 2,00,000 rupees which is equivalent to 26,666 USD at that time a substantial amount then, which today would be around 22,49,000 rupees. This meant people were only taxed if they earned at this high threshold, making 30% which was reasonable for that time. But here’s the question: why hasn’t this threshold changed with the depreciation of the rupee? As our currency’s value declines, so does the real purchasing power of our incomes. Shouldn’t tax policies evolve to reflect these shifts in economic reality and ensure fair treatment? When the value of our money falls, so should the tax burden for ordinary citizens struggling to maintain a fair standard of living.
Black money cant be killed. Govt runs on it.😂
Very true😅
Haha
Yes who r holding Balck money not us.
It's in hand in political parties
✅✅ it's true
It can be when money becomes digital
Paying Income TAX as well as GST, Bad Idea!
well that's how a country runs before gst there was vat cst wealth tax luxury tax entertainment tax and so on. Most of it was just subsumed into GST. and tbh gov earns more money through GST than Income Tax:)
@@Anirudh_C_J
Don’t just encourage ppl to cope and tolerate bad governance.
It’s not that ppl are not willing to pay gst.
It’s that where is the promised improvement in basic needs?
Look at fukin China.
It has invested so much back into its ppl. In the form of infrastructure, education,healthcare.
And it did not take forever to do it.
At that time they had more population than INDIA.
What went wrong?
Income Tax + VAT was always there.
@@supermansud VAT on most of the items got subsumed into GST as far I know VAT is charged on petroleum products and alcohol maybe I might have missed some but GST took over almost every product/service which were under VAT
@Anirudh_C_J everyone knows that Sherlock. What people are asking for is lower direct taxes on individuals so that tax evasion can reduce and people can actually look forward to earning more. Middle class jumping to the defense of the government on social media is funny. Stop this self defeating over intelligence and ask for what you need like the poor are doing
No one will want to deal with black money if tax is reasonable
That assumes black money is only used for tax evasion purposes
Congress, Pakistan, Saudi, USA, China etc all have used black money in India to fund terrorism, Wahabism, Communism and political strive.(eg - planning to tag 26/11 as saffron terror/RSS plot)
That's a historical fact!
+ if tax is used properly
they take swaach bharat cess/tax, still no improvement in area, the garbage is still there from years between 2 buildings
+ if tax is used properly
Traffic light is missing,
same road is re-constructed each year
we need proper tunnel for sewage and a tunnel for wires/pipes without digging the entire road
@@user-dv9tz3wu6b what's swachh bharat cess? Never heard of it?
During service tax regime, they used to collect this @@_____aditya____
Thanks
Tax is not the problem. Main problem is benefits we are not getting.
Huge population bpl
How many people in this country pay tax?
Less than 5 % of the population. How can you get the same benefits you get in Europe or any other developed country?
@@80sidd china
@@mrseskasi Everything you buy has gst which has tax so everyone in indiia pays taxes to some rate stop your andhbhakti.
@@mrseskasibro go and study, u lack basics of taxes.
This is what Subramanian Swamy talked about when he said we need to create Demand by lowering taxes.
He talks about abolishing it altogether which is a problem as well
The one who differentiated in cows?
If that is done, it will increase prices for non-taxpayers as taxpayers will increase their spending on essentials as well. Suit-boot ki sarkar jibe is the other side of the same coin which will be used by opposition.
@santhoshs9810 different in pigs? 🤡
Talk about inflation too. Can u?
being coming from real estate family, black money transaction was never slowed down before and in coming future it is never going slow down.
Yes correct same thing
Real estate has always been a sector always away from Government clutches. Many have selfish interests including Netas. Many politicians buy land at throw away prices , convert land use, and act as middle man minting money many Times, taking advantage of theirs Power
Black money also helps people I think
Consider a sale of Rs.1,000. Now GST@18% Rs. 180, Say Profit Rs. 200 IT@30% Rs.60. The business owner Gets Net Rs.140, Government Gets Rs. 240. That is not end. If the owner spends his Rs.140 again GST@18% Rs.25, Net tax is Rs. 265. If the tax is spend for the people, without corruption, it is okay.
Tax money are being dished out for mega projects and the money get corrupted into the pockets of the politicians!!!
Businessman also gets rebate on pirchase of the item. If purchase is for 800 then businessman has to pay to govt only Rs. 36 as gst.
@@dhrumilmodi2813 Yes, you are right for sale of Goods, But considering Sale of services ITC will be very minimal. The Government gets more than the Business man, even if he makes a profit or loss. Of course tax money is used for infrastructure development.
The last point is accurate. Corruption should not be accepted. Else the rest of all the big economies works in the same way.
Don't blame politicians for corruption, blame yourself.
People get the leaders they deserve.
Kudos to Ganesh and Team for always coming out with good stuff. Would also love to see a channel on the state of Early Education in India, compared to even countries like Vietnam.
Sorry bro, he only compares congress failures vs modi’s success.
@@deep0123456 well post Vietnam war they invested in early education with extreme focus to make it an industrial powerhouse today. So if we have to see what india was doing in 1975, things will become more clear. The present state of the nation is reflection of what was done or not done.
@@deep0123456 If you ask around you will be told that this channel is part of BJP’s PR program. While there is some correct data like the price of oil from 1973-1981, the theories or Reaganomics only led to making the rich, richer and the poor, poorer. You can track the GINI index of the US from 1981-2021 to see how wealth and income inequality has gotten worse as tax rates were reduced.
Think School also cherry picks data to suit a narrative. They forget to mention that Reagan’s team back-pedalled on a lot of their taxes by raising the capital gains tax to its highest effective rate in history (and close to its highest nominal rate in history) in Reagan’s second term and might have been responsible the 1987 crash (Google Black Monday, October 15, 1987).
Now I do not propose that the Government should raise taxes. If you study the current tax code you may notice that the maximum corporate tax rate is LOWER than the maximum Individual tax rate. If I remember right the maximum corporate tax rate is around 25% while the maximum Individual tax rate is 40%. My proposal would be for the government to rationalise this difference. Several theories have shown that if taxes are increased to where the effective tax rate exceeds 20% (not the maximum marginal rate but the effective rate) it creates enough of an incentive for people to find ways to avoid paying tax. So the government needs to reduce the effective tax rate for individuals to match the rate of corporate taxes while widening the tax net.
Think school is right in stating that India had a punitive tax regime in the 70s. Not only was the maximum marginal tax rate 93.5% but there was also an annual tax on all wealth (real estate, stocks and shares, gold, jewellery etc). Effective tax rates hence often exceeded 100%.
Is the current tax code better. Of course it is. But the reduction in taxes was ushered in NOT by Mr. Modi but by the PV Rao-Manmohan Singh government, this was carried through by successive Congress and BJP governments. What Modi has done effectively is to ensure better compliance of payment of taxes and remove several loopholes (not all) that benefitted a few (whose personal ethics permitted them use these loopholes holes). Would a Congress government done any better? I don’t think so. As long as Congress insists on foisting Rahul Gandhi as their PM candidate, I do not see them performing at the levels the BJP is doing. Mr. Gandhi’s only claim to fame is that he was born into the Nehru-Gandhi clan. He hasn’t proven himself in any serious administrative capacity (being the head of a party which your family effectively owns does not count).
Recently came across your channel and I love it., Please, I would like to know if we're restricted to only Indian stock or if we can also buy US or other foreign stocks. I am new to this and everything is still confusing
Research dividend aristocrats and choose six to ten companies with over 25 years of dividend payments. Consider working with a financial advisor to build a strong portfolio.
@@Higuannn Speaking from personal experience, I would say engage professional guidance. Not sure where you get an experienced one, but if your knowledge of the market is limited, it seems like a good bet
@@hullbruce I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
@@Jaymilnere The decision on which Advisor to use is a very personal one. I chose to take guidance from the popular Sharon Crump Cline to meet my goals. All the information you need to set up an appointment is on her web page.
@@hullbruce I like to give this a try even if my needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it
आप ने ये बहुत हीअच्छे से समझाया है कुछ समय पहले यही सवाल किसी ने वीत मंत्री जी से पूछा था और कहा था की सरकार स्लीपिंग पार्टनर ही शेयर मार्केट में खाली टैक्स लेके जाती है उसका जवाब उनके पास नहीं था प्रॉफिट करे तो टैक्स भरना पड़ता है लेकिन वही साल लॉस करते है तो वो उसमें से डिडक्ट नहीं करते भले शोर्ट टर्म या लोंग टर्म का प्रावधान है.
Fun fact: Income tax was supposes to be temporary... taxation is theft.
Even reservation was supposed to be for 10 years. But 😂😂
how will it happen? Idt reservations is that much big problem now log abhi bhi jati par vote karte hai aur castism daily life mein bhi follow karte hai
Income tax is a theft. Income is your right. You pay tax to everything you buy using your income.
If income tax is a theft then employment generation sud be considered a dacaoity..
i dont agree. where did you read that it was supposed to be temporary
Gst raised from 8 % to 18 % in 5 years. Common poor and middle class civilians are affected 😢
It was never 8%. The GST rate list comprises only four slabs, namely 0%, 5%, 12%, 18%, and 28%. Get ur facts checked
don't say poor class coz govt. is giving most of the things free to them. It's the middle class which is sandwiched
@@biswajyotikar4007giving free things will not solve any problem , killing middle class with tax is awfull , goverment should reduce tax , acts against corruption, help poor by providing them quality education and health care. At some point I feel like White British were more king to us than these black British , atleast white British were foreign people but our black British are our own people treating us like animals
They died
@@biswajyotikar4007 only Adani, Ambani, and modi bhakhts get things for free. No one else
I'm an economics undergrad student from India in the US. Love your videos!!
Don't learn Indian system.. Learn American..
Namaste ji, very analytic and concise explanation. Dhanyavaad!
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
If you lack knowledge about market investing tactics, get advice from a financial counselor.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining rapidly
Her name is ‘Melissa Jean Talingdan’ Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
I have 30000 salary and i cant even save money due to high cost of living, really worried about my son's future 😢
monthly?
you have a son with 30000 salary!
Save small amount and invest in sip and forget about it for 10 to 15 yrs
@@PankajKumar-zr3tv bro you are putting him in existential crisis
Start slow and steady, Buying assets with loan at better rates is also safe investment. Or Do sip.
Tax on bikes is 28% and on buying helicopters is 5%. You now know where our country is heading!!
😂 Your knowledge is excellent..If helicopter is taxed 28%, then helicopter will become extinct
@@akeshravi9640 LOL, you are talking as if helicopter is essential for travel for the common man.
Even with current tax rates for helicopter, you don't see helicopters everywhere now do you?
The problem is necessities are getting charged too heavily, while in other countries necessities are getting lesser taxes/exempt.
@@Feuer-ks3rr LOL, I know helicopter is not used by common man..But no country will tax same for helicopter and bike at the same rate, as tax of helicopter will be always less than the taxx on bikes because production cost of helicopter is more than bike.... My reply was limited to her above mentioned comment..
I agree with you tax is high,but if you have lakh to pay for KTMs and R15s of the world then I think you can pay tax as well like Khatakhat Khatakhat 😀😀
@@akeshravi9640 although, helicopters aren't always taxed lesser.
In the UK, just a single 300km travel would give a helicopter a £26 tax for air passenger duty which is about the tax rate of bikes there annually for affordable bikes.
In Japan, tax for bike can be charged only upto ¥6000 (roughly 3k INR), which is much more reasonable than our tax rates, China charges upto 10%.
Just because someone can afford to spend a few lakhs on a decent bike doesn't justify the current tax rates, which is not friendly for the lower middle class.
@@akeshravi9640 tu pehle kya bolna chahta h thik karle phir tippani karna!
Govt has gone crazy
Direct Tax is very high as compared to services & facilities received by Tax Payers.
1) LTCG on immovable properties - 21%
2) LTCG Equity - 10%
3) STCG - 15%
4) STT
This is multilevel taxation.
@@mandarp9472 LTCG and STCG need to be abolished
Question the state govts and the non tax paying citizens who are swindling the money...also remember that 70 years of mismanagement..
@@grajiv1979don't steer the topic around if you don't have a good counter argument. The present government has been here for 10 years now, nothing effective changed. Let's see what FM presents in this year's financial budget.
Btw the money you invested in all these were already taxed 🙂
@@AshwinS-lb6mj
Yes. That is why it is double, triple taxation.
The real problem is with high taxes only a miniscule number of people (
Say Income tax, otherwise everyone give indirect.
The rich pay least to none taxes in India, that's the main problem
100% Indians pay indirect taxes. The problem is people are paying taxes over taxes.
As it should be
100% population is paying indirect taxes on every service and product.
This is INSANITY!! I can't even imagine myself doing this much research and speaking out so fluently in front of a camera while analysing 10 Billion different values!!
Much much love and RESPECT to you, Ganesh bhaiya!
The trickle down effect will only work when companies have an incentive to invest rather than taking everything home. Hence, 10% corporate tax for the the profits invested and 25% corporate for the uninvested profits should encourage them towards trickle down effect. Hope this suggestion helps.
While Ambanis and Adanis enjoying loan waives,
"Govt. has waived off loans worth Rs 3.5 lakh crore for the 15 richest people in India in 2019 alone" Welcome to Ambani's India
Loan waiver as the term suggest is the government waiving off the amount due to the banks. Thus usually happens only for farmers . The onus of repaying the banks is on the government and it does so. This is only done for farmers or not done at all. Why would govt pay such a huge sum to bank rather than letting Adani nd Ambani pay it themselves. It is such a ridiculous statement that the govt waived of loans of entrepreneurs created by opposition to misguide uneducated ppl of society like u
*Modi's india
Modi is a dhokebaaz like never before he is not even a thing he is just and employee of bani so he basically can't do anything
Modi is not a factor at all .. Ambanis employee he has no power ..speeches do not win anything ..400 par ab ki baar..he is empty vessel make more sound
We the common people are paying for the wedding
Tax for buying things.
Tax for income
Tax for death
Tax for everything
Then becomes beggers.
How beggers can pay Tax ?
Even beggars pay taxes when they buy food.
@@StartNight-df3sv tax for death? Can you explain?
Just wait for a while , then tax for popping will be at your doorstep
- Fuel Prices - All time High
- Groceries - All time High
- Loans Interests - All time High and impossible to get for common man
- Interest on bank deposits - Very Low
- Vegetables - Expensive than ever
- Telecom prices - All time High
- Education cost - All time High
Development - ?
- Corruption - All time High
-
Population all time high😊
Gross domestic product all time high, soon will be world 's third largest economy, Bharat Mata Ki Jai
wow ,what a classic video which shows our indian economy. I was watching it like a movie with good background music and visual treat. hatsoff to the creator.
Most worthy 30 min of my day. this not just a case study but an awareness about our economy and their is an urgent need that the people of India must understand this . kudos to the team for presenting the best case study on taxes and am always eager to watch your upcoming episodes!
Nice video....
Eye opening.
When business minded people run government,all they want In return is money from the customers.
Here customers are people of India.
Bro where were you during and before elections???
Licking.
Bootlicking modiji
Hate against Muslim ki wajha se ruka huwa tha mai...!
He had to change his bakhti tune post elections results.
first video dekh rha iski? is he a modi bhakt?
Not only did it create an illegal world, that world became extremely adept & organised. That made crime a breeze, a cakewalk.
The fact you explain both sides of the coin without showing any bias is commendable. Love your content🤌🤌🤌
Thank you Ganesh - The principal of Think School❤. You have proved that a school can bring a very big positive attitude. Indians really need this type B-School ..
This is the best channel based on my viewing and learning experience on UA-cam, keep up the good work👏
Now, we wouldn't be needing this video if nothing hurt us. Unfortunately, we need an economist with a vision to be on track again. Even if that happens, changes will take longer duration as the gravity of the damage is huge.
Who all are witness like me that at 2015 1 rupee candies (peanut candie) now cost 5 rupees . This examples can apply for tons of products and things but not for my father monthly salary.
It’s 7rs now.
Candies are fine daily neccesities are beyond comprehension, like petrol milk grains oil ...
We are in country where govt is tax terrorist, and shamelessly govt. never hears minor breed of traders.
💔💔
In fact,Indian economy suffered a lot due to De-monetization & GST. Note that even after that,IT Dept caught lot of unaccounted money,gold, property, jewellery,diamonds from many people.
Gst was one of the best things... Demo, not so much
@@Abstc_a12b gst was the best thing? Bhikmange tu daal chawal chor ke kuch nai khata na, na kahi aata jata
It’s a very nice presentation and simple to understand. It reminds me of the ArthaCranthi proposal by the Pune based organisation which came 10 years ago. I understand that PM Modi sat with them but nothing fruitful came out of it. In fact the demonisation was a twisted reform in the proposal in which they recommended for the highest value currency note to be 50 or 100. Modi withdrew the 500 and 1000 notes and introduced 2000 notes which made things easy for black money lobbyists. In the proposal they advised abolishing personal and corporate taxes and to introduce a 1-2 % tax at the transaction level for all transactions. I think the Artha Cranthi proposal is still available on internet. It will be worthwhile to go through it.
Bridges collapse adds to national waste burden on common citizen as tax.Electuon ads another waste
There is a saying , CHORI HAR KOI KARTA, SIRF BHAAV LAGANE VAALA CHAHIYE which is probably true for 90 percent of people. It became apparent during demonetisation. Demonetisation would have been a success if some people among general masses had been honest, but we all know how many bankers ensured back door replacement of notes of higher denomination which came to light when some were caught. Also many poor people stood in line to replace others money for small commission. So whether rich or poor, educated or uneducated, most people are ready to do corruption. All they need is scope and price suitable for them. So lets not blame politicians always.
100% correct
You play with the 52 cards in the deck. There is no point in crying that the game is unfair because you are bad at it. Good government would have foreseen the problem with a massive exercise like demonetization.
@@eraiyanbuvetrivel3553 in order to win the war, you loose some fights, do some research about Pakistan' s economy and terror funding in India after demonetisation
@@eraiyanbuvetrivel3553 and yes for conclusion Modi government has won the war
@@PK-xv4bgThe Russia/Ukraine, Israel/Palestine or the Manipur one?
Just 1.5% population pays taxes..it's shameful that the gov demands taxes from such miniscule population without any benefits n quality gov services for tax payers ..
What I liked the most is that you explain very well so it's very easy to understand.
In 2019, India reduced corporate tax by 8 %, but businessmen did not set up any new factories and kept the tax rebates in their pockets, increasing the GANI factor in India and also increasing unemployment.
Well Said!!
If you think by taxing high to corporate they will give employment then you are wrong. They will definitely move to country like UAE , Saudi where they are provided tax free. Thats why many rich person from UK also moved to UAE and Qatar where they are tax free.
@@vidyanagarajan9135: Could you reread what I have written?
That is the point -- Additional money hand due to tax cut need not go to economic activity -- It can go to pockets of few people OR Go out of India through Hawala operators
@@vidyanagarajan9135 That is why affirmative action required by Government in job creation -- Let there be GOVERNMENT SECTOR IT COMPANY with same Rules and regulations like that of TECH companies -- NPCI brilliant subsidiary of RBI is classic example .. Government has bog role to play in job creation
Nice analysis without any propaganda.
I really don't understand the comments section, there was almost no political points made in the video, yet most comments are political. Maybe Its just too early for proper comments to surface, coz these guys seem to only comment based on thumbnail and title 😮💨
Anyway, as always a great Video!
The problem in India is not high taxes, but low tax base. Govt should try to increase the tax base from the current 1-2 % to 10 %, then we will see reduction in income taxes along with benefits.
20 percent people giving tax and rest of them are using for the free facilities 😢😢😢 still how many years we need to go through it 😢😢 bring one tax one nation rule....no more free facilities
And freebie farmers and protest professional will be on the road unless all tax payers come to the road to counter them
There is not a single person in India who isn't taxed, if you want to buy a nail in India, you are paying tax.
If by "tax" you ONLY mean income tax, then you are fortunate enough to have a job that requires you to pay it. The rest of the people have to create their own means to put food on their plates.
20% who gave you that number, less than 5% pay direct income tax mate.
@@Unacceptable. Very well said.
The top earning population of our country is living in an utopian world.
And most of these people r generating the majority of India's Black money!!!!
that is the most idiotic thing inhave heard in a while
There is a saying " fools construct houses and wise men live in them" l
LIKEWISE Govt says. " fools work hard to earn and wise use it to enjoy"
One point not touched in this video is % of people paying income taxes during Regan's era in USA and today what % of people paying Income taxes in India.. difference is causing the pain. Start with charging tax from Farmers having income above 1 Cr.
And fact what I understand from video is,.. be it less tax or more tax, in both cases, rich are getting rich and poor is getting poor.
अबे येडे govt not earning in IT but GST, Revenue Tax, Excise duty, Import Duty, STT, VAT, Property tax, Stamp duty etc.
Try taxing those rich farmers. All hell will break loose. They are very influential politically even have foreign support.
@@Deepa-ki8km Every farmer is paying taxes in Mandi, Petrol, Diesel, Farm equipment, seeds, Pesticides etc.
Abolish IT 😡, increase corporate tax
@@FEN423 Every citizen is paying taxes not only farmers. And I referred to those farmers whose income is more than 1 crore not small farmers. If you're a salaried person you earn this much then you have to pay income tax. Then why are these farmers exempted from taxation?
@@Deepa-ki8km pls check taxpayer data especially above 1Cr income, then check how many Farmers earn 1Cr.
If you look at amount of time and machinery applied against IT amount, u will simply Abolish IT and reinstate Corp Tax cut. Don't single out Individuals but look at the organised loot by NPA to private company. NCLT selling bankrupt companies at only 5% of receivable value. 95% of debt is written off and lending banks booked losses where account holders are being charged for taking banking services as well, double loss, to public.
Nobody stopped salaried people from Farming. 😂
Master piece in every frame.. Well explained.. What needs is to pump this idea to the concerned
To an extent reduced. In the year 2010, Black money was all over in calicut, kerala. But now it is difficult to find these black money fraudsters in the city. It shows the difference
It's with Politicians of ruling party 😂😂😂😂
Everything is Well and good but please make a video on Taxes and expenditure of Govt of India and Any state you can. Thank you
I really don't know how you collect such a info and explain in a very simple way in best order.
Hope the respective person responsible should view this video... very nicely put...👍
Bro we miss OLD BUSINESS CASE STUDY VIDEOS... ❤❤❤
Yea please make videos at the ratio of 3 business case study and 1 policy case study 🙏🏻
what's wrong in getting to know about governance in the country? comment seems inspired from the barking dogs in parliament
@@NehaSingh-px7ni nothing wrong with that but there are hundreds of channels does the same political news/stories/analysis video on the other hand very few business channels exists on the standards of think school I for one subscribe to this channel specifically because he inspired me to become an entrepreneur as a viewer we are just making suggestion wether he takes it or not is upto him
Seriously Bro, I have been following your channel from almost the beginning. Most of the policy related videos seems to capture less than half of the actual picture. Please either try a wholesome picture of the policies. Or focus on business videos which carry more knowledge and less opinions.
@@vivektamtere abba ko kya khujaal mach rahi??? Is your papa named Pappu in the locality
Wouldn't it be better if the government reduced taxes and mandated that individuals invest 75-90% of their tax cut benefits in the government or private sector, allowing them to use the remaining amount for personal expenses? Similarly, companies should be required to invest 80% of their tax savings in the Indian market and research and development, ensuring that these investments are not linked to high-level company personnel. Additionally, research and development funds should be allocated to universities and independent Indian companies. This approach would ensure that tax cut benefits are invested in India without significantly impacting the salaries of high-level individuals or company owners.
Very well thought and it's doable. But Govt has vested interest in our tax money.
Such a tax regime existed prior to 2020 for certain companies who availed tax holiday/ exemption (the recent one which has sunset in 2020 under section 10AA of the incometax Act, 1961 were availed by companies in Special economic Zones (export zones) which required reinvestment of profits to claim such an exemption).
The government, since 2019, rolled out a concessional tax regime for corporates @25.17pc without any tax holiday/ deductions.
Currently, central and state governments have announced fiscal incentives in the form reimbursement of GST, stamp duty, lower rates for electricity etc, to encourage Industries to build/ expand. These incentives require min amount as investment including employment generation threshold to be met. Perhaps, @Thinkschool can cover this in a future video to give us an idea of how these incentives have bolstered the economy.
Separately, a huge shoutout to Thinkschool for this wonderful rendition. Was glued the entire time. Very thoughtful and well organised vid as usual. Cheers.
my be difficult to achieve because the defination of how it is, invested is broad, do they make the poeple chose? then someone could get a non working asset like gold or land which is the same as parking money. Do they take the money and invest it themselves? that is the same as PPF scheme which is already going.
The govt can emphasise more on sec.80JJAA of income tax act and include clauses wherein the companies invest a threshold limit of say 60-75% of Free Cash available to them according to their previous audited balance sheet, in order to avail lower tax rate. It would be a win-win situation to both govt and the company.
Or in other words, debt
What you just described is basically is basically just an I.o.u or bond
You seem to be back!
Congratulations this is a very good video, it took time but it's here. Keep the great work going and don't loose focus please. We need you.
This had taught an ice cube info of tax impact in my life,,, nice!! 👍🏻
Well researched ... Thanks for such informative content ❤
Areca nut farmers earn 20-30 lakhs in a year and some farmers more than 50 L in Andaman Nicobar Islands but didn't pay income tax.
From many decades..
There was a time we used to pay agriculture income tax. My parents used to pay
Shops like Vegetable, fruits, flowers , small home things never pay tax to Government 😢😢😢 but earning lot of money 😮😮😮 bring tax to everyone
Even small hotels and shops they make way lot of money but doesn't pay tax that's why they are rich but salaried are poor comparably.
Idly wada cart wala bought n construct new house worth 3cr rupees. Still he is living like poor n not paying any taxes
You also leave the job and start small business if u think they r making lot money than job holder
@@MVPHumanbeing exactly 💯💪
Sad reality. These days a lot of small business holders who earns in lakhs or crores are not even paying any taxes at all.
At least, they should pay some tax if not huge tax. And at least, lower middle class taxe should be minimize if not much.
Sir, honestly i from Sci background but understood everything nonstop 27 min..
thankyou sir 'll always be learning from you
Really one of the Outstanding video by Think school....... My wishes for this efforts and we are looking for more such video from think school....
u made me addicted to your videos Ganesh sir ... i wish our teachers taight us in this way.. if u were my teacher trust me i will have 100% attendance in my class
Crisp and clear insights/explanation on Taxation and its adverse effects on economy
Always loved your case studies👍🏼
Keep up the good work without any biasness towards anything
As always.. take a bow to you and your team 🤟🏼❤️
Wonderful case study!
The amount of research that this channel does to curate these videos is commendable. Think School is a pure "Gold Mine" of knowledge and insights.
Just a quick Q - when we are already paying 30% direct tax on income + indirect taxes on goods and purchases, can the govt not make our investments and savings tax free?
Good question. The biggest pain I personally feel is the tax I have to pay on investments, I mean why should I??!.....I will do the research, I will take the risk and then I will invest while making certain compromises, but still the government gets to enjoy the investment benefits by taxing the shit out of my work without absolutely doing anything.
Government will never ever think about common man that's a fact which will never change.
Genuine criticism is what indians lacking.ground reality people should know of this government.thankyou
Hi Mr. Ganesh
Recently I took a five days class in taxes and I feel it is not full and satisfied i don't know why but every time your content given that satisfaction and increase the target of education please continue this....
This currently happens my friend just purchased flat in posh area of Noida. for example lets say flat costed 1 crore, so they came to conclusion that in official document seller will write 30 lakh for the flat and 70 lakh will be black money sent...It's super common in India everybody does that. even gov got so much gst that they are hiding it now. just wow
Just wow
Man, I appreciate your analysis and efforts that you put in. Amazing. Keep rocking.
Pay taxes like England And get service like Somalia This is just beginning
Poor people get go another country
We cannot keep lifting their Bhoja. The reason they are poor is because they do not understand how to make money. They keep pulling rest of us down.
How about you learn English first and then lecture on this
@@arminarlert7214 yea, we don't take unsolicited advice from freebies. bhoja.
@@arminarlert7214 bhoja, don't talk to me
Fantastic video ❤
Ganesh ,, most intelligent content in entire social media is on think school .grt stuff keep it up
when a lake dries, the fishes die not the crocodiles. only a fool would think demonetising physical currency would lead to seizing of all black money held by rich ppl and we are a country full of fools
In rooting out the Black Money, It's the Very System that needs Change !!Absolutely, You Said True 👍
Rich people can't affected but Terrorists are not Rich. See
😂 and the FOOL was elected for the third time by ….. well, the country full of fools 😂😂😂
This is the first time I am watching your video and it's really very insightful. As a student I aspire to learn about the Indian Economy and the business world. Really liked the way you brought forward the shortcomings of the government in managing taxes while at the same time acknowledging the efforts a government makes.
I think use of tech in taxation n public infrastructure usage will help us to adapt our economy goal faster
Most Wonderful presentation. Lot of efforts have gone into it
Why pay money to these people from the age of 18. Should pay after 55 years to 75 years
wo bolenge ki aap roads pool bus sab 55 saal ke baad use karna - bahana he ki aap ke tax se ye sab banta he
According to latest data, only 2% of Indians pay direct tax. Why not decrease tax rates but tax everyone. Or put tax limits for people earning differently.
I can only watch your video with focus for max 10 min. Usske baad.. bhla bhla bhla bhla ho jata hai. I'm an average person !
An intelligent, ground real and lesson learning analysis by this gentleman, wonderful🎉Kudos young man👌👌🤛🤛
here in this country, Rich are treated as if they have committed a crime by earning more!! Hence they find a way to escape and middle class pays the taxes all of these things happen bcz some "so-called poor are just refuse to work hard"
The question is, what are we getting on ROT returns on taxes? What we are paying, no proper roads, no safety, no clean water The county is filled with air pollution....😢