In my opinion, govt should think to lower tax rates & increase penalties even more which might encourage people to not to conceal their income and threaten at the same time with the amount & extent of aforesaid penalties and punishments.
Great idea. But, how would you impliment it? Lowering the tax still won't stop the people because they don't wanna pay even when the penalties are increased simply because of less raids are taking place because of a lack of system to find out the evaded tax money.
Bro tax dena ya naa dena ek mentality hai! Even if tax rate gets lower but jiske khoon me basa hai ki nhi pay kruga tax to vo 1 crore kama kr bhi 1 lakh rupees ka bhi tax bharna nhi chahega! And Rahi baat penalties ki, do you think vo km hai?🙂
Taxes are already very high in India, if govt uses all the ways to catch taxes then definitely more and more people will leave India as there are no benefits given to citizens in return of those taxes. Moreover taxes must be paid by politicians also govt should check their expenses also.
Tax, if it benefits the payer directly, in his area, is more than welcome. Mere se Mumbai me tax leke, Mizoram me kisi ka putla banaoge, toh kyon denge ek paisa bhi?
@@jaishetty8586 kiska putla bnaya bhai. also it is govt reposnsibility to spend more on under developed areas to uplift those areas. so u cant say ki tax collected in Maharashtra shouldnt be spend somewhere else.
Informative video but believe me .. even if govt is aware of black money transactions they are ignoring. Eg. Openly across Hyderabad any property sold has a black component (some of these properties are owned by govt associated people like MLA, corporators too). Banks are well aware of this and have all evidence because loans are disbursed on agreement of Sale which is like the MOU between buyer and seller which is taken by bank and loan is approved on this value. But when the sale deed is registered the amount is only 50-70% of the deal value. Government looses stamp duty and black money proliferates. All land owners are selling flats at only 50% white. All remaining 50% black is not disclosed and capital gain tax is evaded. If this is being done openly across the state and all officials are aware .. why create this smoke and mirror .. instead go take all agreement of sale copies from banks OR track the selling rate vs registration rate to better detect the generation of black money by means of property deals which is one of the top most sources to generate / mobilize black money.
you cannot do such a thing in other state where sale deed value is less than agreement to sale value on which loan is taken.. Generally agreement value equal to sale deed value..i dont know how it is happening in ur state..or .you saying telangana government has made such laws in state so that peaceful community which is in abundance in state can evade taxes using this ...such a shame...
Let me share some specifics for your understanding. A buyer purchases an under construction property from builder and as per state laws registration is to be done at time of possession. So an agreement of sale is created (similar to MOU but not the sale deed for registration). The buyer can choose to pay CLP payments from self funds or share the agreement of sale with bank to raise loan. For our understanding let's say the property was purchased @7000 per sft. When the project is completed, the going rate is now 9000 per sft. The buyer finds a new buyer and sets the white component @ 7000 per sft and black for the remaining 2000 per sft. A triparty agreement of sale is created between builder, old buyer and new buyer clearly outlining the arrangement of 7000 white and 2000 in cash or bank payment to old buyer. Old buyer gives transfer fees to builder who now makes some extra bucks to facilitate this change of buyer The new buyer submits this tri-party agreement (which will never be registered) to bank and bank approves loan basis 9000 per sft selling price and buyer eligibility. Once loan is disbursed, a sale deed is created between builder and new buyer at 7000 per sft and on date of registration, bank person comes with check and hands over the check to old buyer. Essentially the registered sale deed only has 7000 per sft and SD is computed on 7000 per sft only but the old buyer realised Money at 9000 per sft, paid the builder for transfer and approx 2K per sft becomes black money with no SD or capital gain implications. If you apply for loan across Telangana, banks ask you what is agreement of sale value and what is the sale deed value as banks are well aware of this arrangement. Now consider that there is no old buyer but the flats are land owner share who were given these in lieu of payments for the land given to builder to make complex, these land owners take 50% black. Case in point: Gachibowli area which is the IT corridor, 3BHKs are sold for 1.6-2.0 cr. Subject to area, but of you pick any of the sale deeds, deals by individual investors will show registered value as 1.2-1.3Cr generating 40-60L black and land owner sale deeds wil have registered value as 0.8-1Cr (exactly the ready reckoner value) and rest 0.8-1 Cr as black. Wish government saw thru this as really did something to control black money in the state
@@adityamundhra3016 @Aditya Mundhra actually bank gives loan on only value of agreement to sale which is equal to sale deed.. Whatever be the actual sale /market value be..(generally market value is higher than agreement value (hence black money). It happens everywhere... and everyone is aware of this.. There is no right way to detect the transaction value happening in cash. Here in our state, banks does not give loans on MOUs..it gives loans on the actual sale deed amount /registration amount.i dont know how it is happening in hyderabad as mentioned by pradeep khabrani that is why I commented..i meant to say ki Banks are not aware of this and cannot do something if some transaction is happening in black/ It is not recorded anywhere or is shown to banks.
@@gauravgoel9080 But even the actual sale deed doesn't capture the full value at which it is actually sold. actual sale deed might be 50L whereas Sale price agreed upon might be 1CR.
Government won't do that because many politicians will get caught. Most of the tax evasion is done in real estate sector every body knows that still government is quiet only because politician will get caught. India doesn't need another demonetisation just make it Compulsory for every transaction above 10000 require Aadhar or PAN Specially Properties should be linked to PAN or Aadhar will Solve most of the Problem.
Actually aadhar and pan is necessary above 50000 and still most of the transaction is done via physical notes , so yeah the remedy you're suggesting is failure In fact govt should roll out currency not more than 100 rs so that hiding huge amount will be pain in ass , not perfect tho *as they may accumulate gold or other assets* but a way to limit people to use currency and more via banking transactions
@@lilu2580 what i am suggesting is make it mandatory to seller to report transaction with aadhar or PAN. It doesn't matter the payment is in cash or bank transfer.
Sir.. as always.. Impressed by your Amalysis. But, I have a question., the big players,. They dont store huge chunk of cash for purchasing via flipkart and other medium. . they always invest in Real Estates where there is scope for Huge cash transactions and they register the property at government value. How this is tracked? Pls make a video on this too.
according to budget of 2021-22 government earns 22,17,029 crores though tax payers in 1 year. list of peoples who flee with Indias money 1)vijay mallya-9000 crores 2)mehul choksi-7000 crores 3)jatin mehta-6500 crores 3)nirav modi- 11000 crores 4)nitin sandesara- 5300 crores
Total isn’t even a drop in the bucket compared to total tax and most of the money is in collateral. Only issue is archaic courts taking too much time to siege money from them
@@shrikantpawar4055 because they are in another country or they got bankrupt Jab hai nhi to dega kaha se Uski property accqure karne par bhi nahi mil rha to
If they want to increase tax collections, they better start focusing on ways to get the rich farmers to pay tax. But not to put more and more burden on working class. We salaried class have been paying our taxes and what did we get in return ? Nothing but roads full of potholes, streets full of filth, substandard health/education facilities and what not.
everyone knows by now the whole demonetization was a facade created by government to fill their pockets, so many leak footage for BJP people themselves taking old notes and replacing with new ones were revealed as they would take some cut from that money. it was a huge scandal, yet it was suppressed because media toh vaise bi inki jeb me hai
You are absolutely right. They kill the money power of other political party. Mayawati for example could have returned to power in 2017 UP election, her transactions were caught and she could not fight. 90 percent of electoral bond is with BJP. Everyone knows when the money should be used to make vaccine for coming corona second wave. He was shamelessly contesting in WB by using money power. it caused 50 lakhs death of people on road . Bhakt are thinking that this money is from white only. Is it possible. We the citizen are already overburdened, not let the politician puch you more. The change is required at top. It will come down naturally to the bottom.
Demonstration, which was an executive order, is about to be proved as illegal act by supreme court, though purely for academic purposes, atleast the lesson of biggest blunders in the history
It's really informative, I just would like to add a few things, Govt need not take data from Gpay, Phone pe, as these platforms use UPI infrastructure and govt already has access to it, now coming to Wallets(non UPI), govt has already mandated KYC of these wallets.
One point to consider here. If I insert my SIM on multiple devices, that doesn't mean I have purchased them all. May be I am just checking my card on another device.
SIM and mobile phone instrument both are fully tracked . Purchasing and using are two different things and simple using also can give a trigger or hint . So don’t be under the impression that you can get away with this . Latest example is the investigation in Delhi of the Liquor Scam . The people under investigation bought and used and changed and destroyed 170 sims and Phones to dodge ED. But ED has recovered around 17 phones . Phones and sims can be precisely tracked . One person lost his phone in a foreign country. The phone was finally tracked back to him in India.
@@aman_modi please don’t be under wrong impression. Every time you put your sim in a different phone instrument it is recorded and reported . You can see a message in settings where it shows a message last used on so and so phone. Each phone has a unique number called IMEI number which allows it to be tracked . If not tax the internal security system will flag you off if you frequently change your instrument.
Nice hypothesis...I have never seen GST receipt from 1. Small restaurants/hotels 2. Stationery shop 3. Sanitary stores 4. Hardware stores 5. Small tyres shop/small parts shop 6. Scrap dealers/Kabari 7. Garages 8. Car wash 9. Bakery 10. Dairy farm... Except no.2 all are millionaires but never give any receipts and 99% black. They use basic phones but hold many properties in names of family members etc.
So govt will get data of their family easily if 10 . members in a family owns property total costs 5 crore And income is shown only 4 lakh yearly And most property are bought in last 4 years then govt could easily caught them
@@Pangeran_s I am talking about all small & medium basic lala businesses whose turnover or profit is way above 6 cr or 10 cr they pay zero or very little tax inspite of so many efforts by Government.
@@Pangeran_s Income and buying property is very different. One can easily buy property of over 5 crore by selling past owned property and having zero income like land. There is nothing illegal in it. Land prices in vidarbha sky rocketed after Late Atalbihari Vajpayee came to power. It started with Nitin Gadkari's ambition to give flight to Nagpur and almost all regions of Vidarbha rose like a pheonix bird. Property rates that were in 50,000 rs per acre in 2000 went to over 2 million rs per acre within 20 years Also many many people own ancestral land.
@@nochance3914 govt would easily validiate it They know when you buy property and in how much you buy I am saying in last 4 years a family buys several properties and sell nothing Govt have all these data easily And govt know that what is your work There are some works in which tax could be saved Govt only targets them
Bhai don’t worry. All these categories listed by you are slowly being brought in the net. Day by day things are getting tight. These all are now covered by GST and GST is linked with PAN and Adhaar. You can see from the GST collections. From all directions all the non tax payers are being brought in the net. Tax reforms, GST ,Banking Reforms, and now Monetary reforms including UPI and E Rupees all are leading to it.
Sir ,rather than those companies sharing customer data like mobile number with government (as a matter of privacy concern) ,couldn’t the selling outlets ask the customers to quote Aadhar or PAN in circumstances of cash purchase (over a certain limit., just like cash payment in restaurant exceeding 50000). In my opinion the latter would be feasible to adapt
Better way, do both what you and sir mentioned. It will be a double check measure then. Privacy can be ignored for national interest matters. We need an aggressively strict tax regime.
Privacy is not a point of concern for high value transactions anyway. Eg.if any person is buying cars, phones or luxurious items only through cash mode, and the same transaction is reported to govt. I don't think there is any evasion of privacy as if the transactions are known to any person, I don't think he would have any problem with that unless he has done the transactions utilizing the black or illegal money.
Govt needs to be careful because when such moves comes in income of corporates goes down and then they go into appeasing corporates lowering their taxes, The govt. Expenses are the ones requiring real scrutiny as well
An average Indian will happily his/her taxes,but will govt assure us that our hard earned money will be utilised transparently? Will govt disclose what and where our money went to? Will rich exploit politicians ready to disclose their spendings and their incomes? If govt expects its citizens to be clear and transparent,govt should be too in return. I'm a tax payer, but what do we get in return? Crappy roads, different kind of scams, no facilities of whatsoever. Govt should have a prying eyes on it's corrupt and scam seeking politicians. Ek govt k chaprasi ke ghar bhi karodon rupae mil jaenge!
I don't know about cars but in case of mobile it would increase the demand for low cost models for correct number use while high end phones would be used for daily use. Increasing demand for mobile phone nonetheless.
Sir , i really liked your videos.. this one channel you never asked for like comment and share :) and more over “SEEDHI BAAT NO BAKWAS” to the point your apt sir thank you for all the efforts :)
In tech field I dont think explaination will be difficult. "Those are the purchases for my multiple friends who had not a prime membership, with prime they giving additional discount thats why i paid for him"
The chain you explained is based on the assumption that the Mobile number is linked with aadhar. People will use that numbers in which aadhar card is not linked, Prima Facie Loop hole. The upfront reason for the govt. to not to do such a thing.
But it is too easy to escape. What if someone keeps a different mobile number linked to his Aadhar & PAN Card, and a different one to sign up on all these websites?! How will the government track him then?
Very well explained, Government can get all the necessary information from Telecom operators too. Telecom operators should be able to give the location too 😀
An excellent narration,very logical and absolutely possible. Also govt can take honest tax payers into confidence to divulge information about others those are suspected tax evaders in their locality.
What happened to the indirect taxes we paid for buying those 1.5 crores of car and trips abroad? The tax amount collected for only 4 wheelers is in lakhs of crores and we are not talking about petrol/ household/ property, etc taxes yet.
Yes 28 percent of GST and 22 percent of cess. Then again 50 rupees par litre. They are taking 28 percent tax on motorcycle also which is not for rich. This country chief has taught everybody to talk nonsense and no logicial sanctity is there.
Salaried class pay taxes thrice, 1- Before getting the salary-TDS 2-In everything which we purchase- GST 3-Taxes from bank in the name of additional income. They tell one India one Tax. I don't think it is fair on Govt to put all the burden on salaried class..
Sir I think mobile carriers already have the device data. For example, if you login on Airtel Postpaid through (Desktop) Web Browser you can see the device in which the particular connection is being used. They will just need to tweak the upcoming Telecom Law.
Arey they even know which SIM slot the sim is inserted in. When Jio was launched, the phones didn't support Dual 4G back then. So whenever I inserted my Sim in slot 2, all these companies always messaged & urged me to insert the Sim in slot 1 so I can use THEIR 4g network and hence more price can be extracted
"no infrastructure" Bhai bahaar ghum ke aa. Already we are a stupid freebie nation where you treat your farmers like God, don't require them to pay taxes, you have the BURDEN of 20 crore minorities, you are giving ration to 80 crore people, free vaccines, free treatment at government hospitals, reservation, pensions, and what not!
@@uttamtaparia6435 Then pressurize the government to end reservation, start taxing the farmers, atleast 4-5% tax to banta hai farmers pe, ask them to remove pension scheme from Govt job, and throw away those illegal refugees, and so on. Tax slabs should be brought down. Even if anyone is earning 50,000, put some 4-5% tax.
@@_Mohit_Joshi instead of freebies their can be a pay for productive work relating to infra. most of the govt. companies are loss making due to inefficiency and burning tax payers hard earned money like paper
Points you mentioned are absolutely practical. All it takes is collate all the information from all the possible sources and just a software and at the hit of a button it can show mutiple data with tax invaders. I hope atleast 2CR more tax payers can be brought if govt can strictly implement this and pass on the benefit to direct TPs from whom their hard earned income is sucked
how its a gud idea ? In india people share accounts to buy stuff . eg. amazon prime and flipkart premium, So that they buy stuff and free of delivery. but with this idea the raid will happen on the account holder.
@@sairoadways4365 agar account share kar rahe hein to jawab bhi denge. Jyada din nahi chalega. Aur ab to technology fast ho gayi hey. Jaldi hi pakad mein aa jayenge.
@@avishjha4030 itna easy nahi hey. Jiska account use and share ho raha hey woh fasega aur jawab dena bhari padega . Aur sare share karne walon tak inquiry jayegi aur sawal jawab honge. Technology upgrade hone se bahut sare karmachari free ho gaye hein jo ab yehi scrutiny ka kam karenge aur naye tax payer search karenge. Ab to USA mein bhi 2.5 Lakh karmachari naye bhari kiye jayenge tax chori pakad ne ke liye.
Great video! Sahikl Ji, the 1.5 tax payers the PM is referring to is that of folks who actually paid taxes and exludes those who filed for taxes but did not pay any taxes due to the various deductions?
I thought it was mandatory to share PAN details for cash Transaction above a certain limit, or am I wrong? Not getting why the government has to go and pass a law or something.
In case of transacting through PayTm or Google Pay ..it's directly connected with the bank and all the transactions through UPIs are recorded in the bank passbook and secondly for activating paytm wallet you have to give your official document (aadhaar, PAN card etc.) ..So I don't think anyone use this way to hide money because no one can.
There is difference b/w "paying tax" and "filing itr", if only paying are considered then 1.5 cr might be reasonable because pay karne wale bhi toh hone chahiye 😅 rahi baat file karne ki to most of people are not aware of filing itr's so professionals should encourage and tell them the benefits of filing itr's
It is only related to digital transaction, what about realestate and gold, which are major area of hideouts.. Going after petty expense will not help..
Telecom operator are bound to give information under 133(6) of the income tax act. The department is functioning with 35000 employees which has 7000 people in decision making level against the 70000 sanctioned strength in India. Who will check and make inquiries. If one crore people is caught out of 50 crore sims, who will investigate. And please note the investigation should be completed in one AY I E. from 1st April to next 31st March
Why don't these politicians give income tax ? Take thousands of crores rupees in donations. Why written off Big businessmen loans and tax money. In electoral bonds selling, why don't give tax.
We should have only gst and no income tax for individuals Direct Tax is a robbery Why should I pay for the road which I never use If the government removes direct tax for individuals, just imagine the increase in expenses and indirect tax
one thing here u may consider is, the rise of credit and BNPL modes have created diversity and PPP has increased massively for our population. U said to prove ur expenses at 13:50, now my perspective is people can prove that they are in debt and used one of these modes for the expenditure. i also use multiple credit lines like flipkart buy & pay later and amazons buy & pay later, ola money postpaid+, paytm postpaid, credit cards of axis bank and SBI. With expenses going upto 5x of my monthly income. I admit I'm in debt but i went into debt coz i know i can handle thier EMIs for a particular time period with fix income.
Thanks you sir. Government Mafia is gaining more and more power. Need to be careful. Someday you will try to spend diwali cash gift and they will come confiscate it.
It is already being done all over the world by all governments. WhatsApp Facebook Twitter Mobile Phones all are selling user data openly . And government gets the data silently without any one knowing it .
Government should investigate the corrupted politician as how they can spend crores of rupees in rally etc then for citizens who are evading taxes . Firstly government should educate on filing taxes for citizens . Even now there are unorganised sectors who are earning in lakhs do not pay taxes.
But many people have usually two SIMs. What if they use number which is not linked with Aadhaar card for Gpay, PayTm or on other places. How can government track that?
Super analysis and the best way to alert people to be honest in their financial dealings. Great sir, you are really helping India grow financially. 👏👏👏
12:56 Sir what if mobile number is linked to different Aadhar card and some people doesn't have pan to. For example in my home all sim card is registered with different aadhar card
Hello sir i want to add something, jab 2016 me demonitisation hua toh mujhe mere dost jo bank me high level par hai un hone kaha tha note bandi ke bare me unko 3-4 mahine pehle se pata tha, aur jitne bhi bade players the jese bade bade builder, businessmen, unko bhi pata chal gaya tha toh unhone apna sar black pehle hi hata diya, aur ek aur baat ambani ne jio 4g september me launch kiya tha mene aisa suna hai ki un hone Apna black money use kiya th usme, agar wapas kuch aisa hoga toh sirf middle class wale phasenge, aur joh bade log hai jese politicians aur businessman woh sab bach ke nikal jayege, agar rule ho toh sabke liye ek jaise hone chahiye warna na ho
I believe govt should come up with more ways to catch tax evaders. Huge number of people in India earning a lot but not paying tax. This is the reason why every govt forced to keep the tax rate high to generate necessary revenue and honest taxpayers get slaughtered.
Government might do this but if many people are pestered then people may create negative image of them , votes/majority to come down . As proper facilities are yet to be given to people , but are improving for sure from past few years 💯
Savings could have been used to buy second hand cars, going overseas for studies could have been due to fixed deposits, not necessarily due to black money
I have a query, most of the people are purchasing car through loan, just to show off but are actually belongs to middle class. So still that data base is effective?
The biggest issue is going to be the opposition to these rules by the opposition parties and public at large who will raise the issue of data privacy and attack by government on personal data
Mindblowing analysis Sir!💯 Government's each and every move is with a hidden intention and this video is a proof of it. Thank you so much sir for sharing your views on this topic. It was a real eye opener video❤
There is an option to deactivate your account on platforms like Amazon and Flipkart, and therefore, the data associated with your account will be erased. So you can repeatedly create and delete accounts...
BCCI richest cricket body in the whole world is exempted from taxes and home minister's son is head of BCCI. Tax evasion occurs at these high levels. Commen men earning 5 to 10 lacs is busy with his daily needs.
I guess the easiest way for Govt to track the undisclosed income is to call information from banks. You can easily observe that the one's earning black money will not have much debits as compared to the one's earning white money. In this way the assessee may be questioned how he maintains his/her standard of living
Not all people are in same phases of life. Not all people need same level of money to maintain standard of living. I think you have zero understanding of how world works. For a young 30 year old man with high earning,his spending habit will be far different than another man of 55 year old. For you earning 1 lakh rs salary per month may be like you win the game but for a 50 year old man,earning a 1 lakh is like nothing. Not because he is corrupt or whatever but he has already making much higher earnings and his spendings are low because money require to spend is smaller because his family also start earning.
@@jaishetty8586 Yeah got a simple solution for that. Only analyze the data of professionals like CAs, Doctors, Lawyers, etc. They are the main tax evaders 😂
Aam janta chor hai tax nahi deti. Per saare politition sareef hai koi ghapla nahi karte h. Ye soch h saare political party ki. Corporate ka caroro ₹₹ ka loan or tax maaf kar dete ye politition. Ye sab logo per control karne ke liye ho raha h
Corporates are given incentives because the banks analyse their financials, and see scope. Not all are like Mallya and Modi. There are Ambani and Tata-like corporates too. Now, should a bank incentivise an entrepreneur or some Babu or Shona huh?
Those who are talking about privacy Beta log, Plz read income tax section 133 and PMLA act sections calling requred information from anyone. U can not bind "law makers" in chain Time esa aane wala hai ki sarkar khud return bhrke degi aapo , aap file fro bs tax pay krke They have all information Sudhar jao😇 @Taxation with CA Sahil Jain Am i right sir!!
Itna bhi asan nhi hai pakadna, as a cybersec expert i have plenty of bypasses for problems like mobile numbers and aadhar numbers. Moreover, companies like Apple will never agree to share their customers data no matter what. Also, people will start buying products from companies which will keep their transactions secret which includes foreign e-commerce companies delivering to India. Any such move from government, e-commerce companies will be first ones to move out from jurisdiction and operate because nobody wants to lose customers.
IMEI can al also be used track phone no. AI is already tracking all these. The big players escape quoting agricultural income. They could also bring in expenditure tax.
Traceable digital currency mandatory for real estate and entertainment industry....it's easy to find money movement path 😀...how it got accumulated at certain places...bas wahi sae Kato tax 🤣😀.. 💐💐💐🙏🙏🙏
Thanks for creating awareness. However, most people buy properties (especially plot) in my locality. The stamp value of the property is actually 20-30% of its actual value. Plus, buy gold from local shops without GST bill and in cash. No way to track these tax evasions.
@@danishpachyala8618 Dear Danish, I understand that there is a rule. But, who cares? I have seen a lot of people around me doing it for decades. Anyway thank you for your response.
Sabse best practice - Reduce tax rates drastically for 1 PY and collect the taxpayers data having Total income above 10L. Next year se back to normal rates and you'll have list of evadors
@@issacdhan what i meant was that everyone doesn't pay actually the majority hides there income and do not pay income tax So if govt just remove the direct taxes and increase indirect by a bit Then this would not affect the total tax collection, as we removed some taxes and increased other And no one can hide from indirect taxes, so everyone will have to pay that
Flaw- There may be a case where a person is ordering and paying from number not registered with Aadhar and PAN Solution- Now a days if you purchase a new sim card, they always ask for Aadhar card, so gov can ask telecom companies for data list of number with aadhar number.
There is no number without adhaar, and even if you get some other person aadhar card for your number. That person could be held and he can provide your information.
Recently govt made laws to limit amount of gold a person can have as well. Most of the black money goes into land and gold only. I hope this initiative of government will curb corruption too which is the biggest blocker for India's development
In my opinion, govt should think to lower tax rates & increase penalties even more which might encourage people to not to conceal their income and threaten at the same time with the amount & extent of aforesaid penalties and punishments.
Increasing penalties will create more burden on already over burden middle class
Great idea. But, how would you impliment it? Lowering the tax still won't stop the people because they don't wanna pay even when the penalties are increased simply because of less raids are taking place because of a lack of system to find out the evaded tax money.
Bro tax dena ya naa dena ek mentality hai! Even if tax rate gets lower but jiske khoon me basa hai ki nhi pay kruga tax to vo 1 crore kama kr bhi 1 lakh rupees ka bhi tax bharna nhi chahega! And Rahi baat penalties ki, do you think vo km hai?🙂
Corruption will increase if the penalties increases
@@tkdevlop yes and your existence doesn't matter 🌚
Taxes are already very high in India, if govt uses all the ways to catch taxes then definitely more and more people will leave India as there are no benefits given to citizens in return of those taxes.
Moreover taxes must be paid by politicians also govt should check their expenses also.
🙏❤️❤️
Exactly.
in other countries it's even more
@@anubhavtomar3499 🙏
@@pranomadityagogoi8046 तो हम भी वही करे वो दरिया में खुद ना चाहते है तुम भी खुदको झोंक दोगे क्या 🤣😅
Only way to change the mindset of Indian citizens is if government brings transparency in their expenditure.
Tax, if it benefits the payer directly, in his area, is more than welcome. Mere se Mumbai me tax leke, Mizoram me kisi ka putla banaoge, toh kyon denge ek paisa bhi?
No correlation whatsoever
Those who don't pay taxes don't care about anything at all
@@jaishetty8586 benefit bhi milega pehle jyada log tax to de.
@@jaishetty8586 kiska putla bnaya bhai. also it is govt reposnsibility to spend more on under developed areas to uplift those areas. so u cant say ki tax collected in Maharashtra shouldnt be spend somewhere else.
Informative video but believe me .. even if govt is aware of black money transactions they are ignoring. Eg. Openly across Hyderabad any property sold has a black component (some of these properties are owned by govt associated people like MLA, corporators too). Banks are well aware of this and have all evidence because loans are disbursed on agreement of Sale which is like the MOU between buyer and seller which is taken by bank and loan is approved on this value. But when the sale deed is registered the amount is only 50-70% of the deal value. Government looses stamp duty and black money proliferates. All land owners are selling flats at only 50% white. All remaining 50% black is not disclosed and capital gain tax is evaded. If this is being done openly across the state and all officials are aware .. why create this smoke and mirror .. instead go take all agreement of sale copies from banks OR track the selling rate vs registration rate to better detect the generation of black money by means of property deals which is one of the top most sources to generate / mobilize black money.
you cannot do such a thing in other state where sale deed value is less than agreement to sale value on which loan is taken.. Generally agreement value equal to sale deed value..i dont know how it is happening in ur state..or .you saying telangana government has made such laws in state so that peaceful community which is in abundance in state can evade taxes using this ...such a shame...
@@gauravgoel9080 Are you sure it is the "sale deed value less than agreement to sell" or Sale deed value less than the "market value"?
Let me share some specifics for your understanding. A buyer purchases an under construction property from builder and as per state laws registration is to be done at time of possession. So an agreement of sale is created (similar to MOU but not the sale deed for registration). The buyer can choose to pay CLP payments from self funds or share the agreement of sale with bank to raise loan. For our understanding let's say the property was purchased @7000 per sft. When the project is completed, the going rate is now 9000 per sft. The buyer finds a new buyer and sets the white component @ 7000 per sft and black for the remaining 2000 per sft. A triparty agreement of sale is created between builder, old buyer and new buyer clearly outlining the arrangement of 7000 white and 2000 in cash or bank payment to old buyer. Old buyer gives transfer fees to builder who now makes some extra bucks to facilitate this change of buyer The new buyer submits this tri-party agreement (which will never be registered) to bank and bank approves loan basis 9000 per sft selling price and buyer eligibility. Once loan is disbursed, a sale deed is created between builder and new buyer at 7000 per sft and on date of registration, bank person comes with check and hands over the check to old buyer. Essentially the registered sale deed only has 7000 per sft and SD is computed on 7000 per sft only but the old buyer realised Money at 9000 per sft, paid the builder for transfer and approx 2K per sft becomes black money with no SD or capital gain implications. If you apply for loan across Telangana, banks ask you what is agreement of sale value and what is the sale deed value as banks are well aware of this arrangement. Now consider that there is no old buyer but the flats are land owner share who were given these in lieu of payments for the land given to builder to make complex, these land owners take 50% black. Case in point: Gachibowli area which is the IT corridor, 3BHKs are sold for 1.6-2.0 cr. Subject to area, but of you pick any of the sale deeds, deals by individual investors will show registered value as 1.2-1.3Cr generating 40-60L black and land owner sale deeds wil have registered value as 0.8-1Cr (exactly the ready reckoner value) and rest 0.8-1 Cr as black. Wish government saw thru this as really did something to control black money in the state
@@adityamundhra3016 @Aditya Mundhra actually bank gives loan on only value of agreement to sale which is equal to sale deed.. Whatever be the actual sale /market value be..(generally market value is higher than agreement value (hence black money). It happens everywhere... and everyone is aware of this.. There is no right way to detect the transaction value happening in cash. Here in our state, banks does not give loans on MOUs..it gives loans on the actual sale deed amount /registration amount.i dont know how it is happening in hyderabad as mentioned by pradeep khabrani that is why I commented..i meant to say ki Banks are not aware of this and cannot do something if some transaction is happening in black/ It is not recorded anywhere or is shown to banks.
@@gauravgoel9080 But even the actual sale deed doesn't capture the full value at which it is actually sold. actual sale deed might be 50L whereas Sale price agreed upon might be 1CR.
Government won't do that because many politicians will get caught.
Most of the tax evasion is done in real estate sector every body knows that still government is quiet only because politician will get caught.
India doesn't need another demonetisation just make it Compulsory for every transaction above 10000 require Aadhar or PAN
Specially Properties should be linked to PAN or Aadhar will Solve most of the Problem.
Very true
Actually aadhar and pan is necessary above 50000 and still most of the transaction is done via physical notes , so yeah the remedy you're suggesting is failure
In fact govt should roll out currency not more than 100 rs so that hiding huge amount will be pain in ass , not perfect tho *as they may accumulate gold or other assets* but a way to limit people to use currency and more via banking transactions
@@lilu2580 what i am suggesting is make it mandatory to seller to report transaction with aadhar or PAN. It doesn't matter the payment is in cash or bank transfer.
@@Prem98 right
Properties are already sold using PAN only
Sir.. as always.. Impressed by your Amalysis. But, I have a question., the big players,. They dont store huge chunk of cash for purchasing via flipkart and other medium. . they always invest in Real Estates where there is scope for Huge cash transactions and they register the property at government value. How this is tracked? Pls make a video on this too.
That's why I love infotainment over entertainment.
according to budget of 2021-22 government earns 22,17,029 crores though tax payers in 1 year.
list of peoples who flee with Indias money
1)vijay mallya-9000 crores
2)mehul choksi-7000 crores
3)jatin mehta-6500 crores
3)nirav modi- 11000 crores
4)nitin sandesara- 5300 crores
also dhfl bank scam- 34000 crores
these numbers speaks itself who needs to be arrested.
Total isn’t even a drop in the bucket compared to total tax and most of the money is in collateral. Only issue is archaic courts taking too much time to siege money from them
@@sa34w then who is stopping them and why are they collecting from us insted of them.
@@shrikantpawar4055 because they are in another country or they got bankrupt
Jab hai nhi to dega kaha se
Uski property accqure karne par bhi nahi mil rha to
If they want to increase tax collections, they better start focusing on ways to get the rich farmers to pay tax. But not to put more and more burden on working class. We salaried class have been paying our taxes and what did we get in return ? Nothing but roads full of potholes, streets full of filth, substandard health/education facilities and what not.
Usi ke taraf krishi kanoon phla step lia tha dekha kya hal hua😂
Taxing farmers can't happen as they are vote bank.
@@SrinivasKompella I know. Salaried class is doomed that's why
Touch the farmers, and this time they won't let the convoy slip, like they allowed last time. Phir mat bolna, bataya nahee thaa.😂
Farmers are not the target... Businesses can earn the way you can't even compare.
And as he said Govt is collecting data.
everyone knows by now the whole demonetization was a facade created by government to fill their pockets, so many leak footage for BJP people themselves taking old notes and replacing with new ones were revealed as they would take some cut from that money. it was a huge scandal, yet it was suppressed because media toh vaise bi inki jeb me hai
You are absolutely right. They kill the money power of other political party. Mayawati for example could have returned to power in 2017 UP election, her transactions were caught and she could not fight. 90 percent of electoral bond is with BJP. Everyone knows when the money should be used to make vaccine for coming corona second wave. He was shamelessly contesting in WB by using money power. it caused 50 lakhs death of people on road . Bhakt are thinking that this money is from white only. Is it possible. We the citizen are already overburdened, not let the politician puch you more. The change is required at top. It will come down naturally to the bottom.
❤️ Great
So let's a file case if you have proofs don't spread your conspiracy theories
SC is listening the case for demonitization. Solicitor general replied to back , it should not be discussed now as it occurs long time back.
Demonstration, which was an executive order, is about to be proved as illegal act by supreme court, though purely for academic purposes, atleast the lesson of biggest blunders in the history
It's really informative, I just would like to add a few things, Govt need not take data from Gpay, Phone pe, as these platforms use UPI infrastructure and govt already has access to it, now coming to Wallets(non UPI), govt has already mandated KYC of these wallets.
One point to consider here. If I insert my SIM on multiple devices, that doesn't mean I have purchased them all. May be I am just checking my card on another device.
registeration happens throught first sim inserted in the phone
@@anubhavtomar3499 Ohh ok. Thanks!
First Sim daadi ka dalo... Do din baad change karlo 🙂
SIM and mobile phone instrument both are fully tracked . Purchasing and using are two different things and simple using also can give a trigger or hint . So don’t be under the impression that you can get away with this .
Latest example is the investigation in Delhi of the Liquor Scam . The people under investigation bought and used and changed and destroyed 170 sims and Phones to dodge ED. But ED has recovered around 17 phones .
Phones and sims can be precisely tracked .
One person lost his phone in a foreign country. The phone was finally tracked back to him in India.
@@aman_modi please don’t be under wrong impression. Every time you put your sim in a different phone instrument it is recorded and reported . You can see a message in settings where it shows a message last used on so and so phone.
Each phone has a unique number called IMEI number which allows it to be tracked .
If not tax the internal security system will flag you off if you frequently change your instrument.
Most of the corrupts are sitting in govt offices only😄
Absolutely
are you living in 2004?
Rishwat
Pls give some example
Dont make baseless alegations if u dont have proof
@@anantsharma4584 Do live in Godi media propoganda world ?
Nice hypothesis...I have never seen GST receipt from
1. Small restaurants/hotels
2. Stationery shop
3. Sanitary stores
4. Hardware stores
5. Small tyres shop/small parts shop
6. Scrap dealers/Kabari
7. Garages
8. Car wash
9. Bakery
10. Dairy farm... Except no.2 all are millionaires but never give any receipts and 99% black. They use basic phones but hold many properties in names of family members etc.
So govt will get data of their family easily if 10 . members in a family owns property total costs 5 crore
And income is shown only 4 lakh yearly
And most property are bought in last 4 years then govt could easily caught them
@@Pangeran_s I am talking about all small & medium basic lala businesses whose turnover or profit is way above 6 cr or 10 cr they pay zero or very little tax inspite of so many efforts by Government.
@@Pangeran_s Income and buying property is very different.
One can easily buy property of over 5 crore by selling past owned property and having zero income like land.
There is nothing illegal in it.
Land prices in vidarbha sky rocketed after Late Atalbihari Vajpayee came to power.
It started with Nitin Gadkari's ambition to give flight to Nagpur and almost all regions of Vidarbha rose like a pheonix bird.
Property rates that were in 50,000 rs per acre in 2000 went to over 2 million rs per acre within 20 years
Also many many people own ancestral land.
@@nochance3914 govt would easily validiate it
They know when you buy property and in how much you buy
I am saying in last 4 years a family buys several properties and sell nothing
Govt have all these data easily
And govt know that what is your work
There are some works in which tax could be saved
Govt only targets them
Bhai don’t worry. All these categories listed by you are slowly being brought in the net. Day by day things are getting tight. These all are now covered by GST and GST is linked with PAN and Adhaar. You can see from the GST collections.
From all directions all the non tax payers are being brought in the net.
Tax reforms, GST ,Banking Reforms, and now Monetary reforms including UPI and E Rupees all are leading to it.
Sir ,rather than those companies sharing customer data like mobile number with government (as a matter of privacy concern) ,couldn’t the selling outlets ask the customers to quote Aadhar or PAN in circumstances of cash purchase (over a certain limit., just like cash payment in restaurant exceeding 50000). In my opinion the latter would be feasible to adapt
Better way, do both what you and sir mentioned. It will be a double check measure then. Privacy can be ignored for national interest matters. We need an aggressively strict tax regime.
Privacy is not a point of concern for high value transactions anyway. Eg.if any person is buying cars, phones or luxurious items only through cash mode, and the same transaction is reported to govt. I don't think there is any evasion of privacy as if the transactions are known to any person, I don't think he would have any problem with that unless he has done the transactions utilizing the black or illegal money.
Govt needs to be careful because when such moves comes in income of corporates goes down and then they go into appeasing corporates lowering their taxes,
The govt. Expenses are the ones requiring real scrutiny as well
@@_Mohit_Joshi no privacy can not be ingored for tax means the amount of tax money already going is insane
It’s shameful
An average Indian will happily his/her taxes,but will govt assure us that our hard earned money will be utilised transparently? Will govt disclose what and where our money went to? Will rich exploit politicians ready to disclose their spendings and their incomes?
If govt expects its citizens to be clear and transparent,govt should be too in return. I'm a tax payer, but what do we get in return? Crappy roads, different kind of scams, no facilities of whatsoever.
Govt should have a prying eyes on it's corrupt and scam seeking politicians. Ek govt k chaprasi ke ghar bhi karodon rupae mil jaenge!
Wouldn't that cause reduction in demand?
Price would increase for used cars electronics etc
I don't know about cars but in case of mobile it would increase the demand for low cost models for correct number use while high end phones would be used for daily use. Increasing demand for mobile phone nonetheless.
No not at all. 1.5 Lakh value phone buyers know very well. They know the rules and how to circumvent them. So they take proper precautions.
Sir you are as always the best in explaining the case studies like this .
thankyou sir for giving such a valuable information to us .
Sir , i really liked your videos.. this one channel you never asked for like comment and share :) and more over “SEEDHI BAAT NO BAKWAS” to the point your apt sir thank you for all the efforts :)
Apka coat,shirt, watch aur uspr apki yeh shandar knowledge I like that deadly combination sir❤️
In tech field I dont think explaination will be difficult. "Those are the purchases for my multiple friends who had not a prime membership, with prime they giving additional discount thats why i paid for him"
The chain you explained is based on the assumption that the Mobile number is linked with aadhar. People will use that numbers in which aadhar card is not linked, Prima Facie Loop hole. The upfront reason for the govt. to not to do such a thing.
Sir the main fact is
Kuch internal factors ke karan...wapis bach jaenge kuch log...i mean maximum log
Linking with manager of banks
But it is too easy to escape. What if someone keeps a different mobile number linked to his Aadhar & PAN Card, and a different one to sign up on all these websites?! How will the government track him then?
Bro but Don't you need a Aadhar number to buy a Phone number?
Very well explained, Government can get all the necessary information from Telecom operators too. Telecom operators should be able to give the location too 😀
Sbse jyada toh politicians he hai
An excellent narration,very logical and absolutely possible. Also govt can take honest tax payers into confidence to divulge information about others those are suspected tax evaders in their locality.
What happened to the indirect taxes we paid for buying those 1.5 crores of car and trips abroad? The tax amount collected for only 4 wheelers is in lakhs of crores and we are not talking about petrol/ household/ property, etc taxes yet.
Yes 28 percent of GST and 22 percent of cess. Then again 50 rupees par litre. They are taking 28 percent tax on motorcycle also which is not for rich. This country chief has taught everybody to talk nonsense and no logicial sanctity is there.
@@abhishektyagi9138 😅😅🤣😅🤣😅🤣😅😅🤣🙏🙏
Salaried class pay taxes thrice,
1- Before getting the salary-TDS
2-In everything which we purchase- GST
3-Taxes from bank in the name of additional income.
They tell one India one Tax. I don't think it is fair on Govt to put all the burden on salaried class..
Make PAN mandatory for iPhone purchase and tax payers will double 😂😂
Ye sahi tha🤣🤣😆😆
Phone chalu karo sim dalo to automatically aap track ho jaoge. Adhaar card ke through
Sir Digital Transaction badhaye...
Aur Transaction par slab wise Transaction Tax lagayee ...
Sab ke Sab Tax denge..👍
Sir I think mobile carriers already have the device data. For example, if you login on Airtel Postpaid through (Desktop) Web Browser you can see the device in which the particular connection is being used. They will just need to tweak the upcoming Telecom Law.
Yes, they definitely do, they can track via IMEI of the phone where SIM is inserted.
Arey they even know which SIM slot the sim is inserted in. When Jio was launched, the phones didn't support Dual 4G back then. So whenever I inserted my Sim in slot 2, all these companies always messaged & urged me to insert the Sim in slot 1 so I can use THEIR 4g network and hence more price can be extracted
why will any one show their income
-42.734% tax rate on income
-gst on expenses
-no infrastructure , just corruption
-faclity ka name per kuch nahi 🥲
"no infrastructure" Bhai bahaar ghum ke aa.
Already we are a stupid freebie nation where you treat your farmers like God, don't require them to pay taxes, you have the BURDEN of 20 crore minorities, you are giving ration to 80 crore people, free vaccines, free treatment at government hospitals, reservation, pensions, and what not!
@@_Mohit_Joshi but the tax payers get nothing, no motivation for them to pay taxes 😔
@@uttamtaparia6435 Then pressurize the government to end reservation, start taxing the farmers, atleast 4-5% tax to banta hai farmers pe, ask them to remove pension scheme from Govt job, and throw away those illegal refugees, and so on.
Tax slabs should be brought down. Even if anyone is earning 50,000, put some 4-5% tax.
@@_Mohit_Joshi instead of freebies their can be a pay for productive work relating to infra.
most of the govt. companies are loss making due to inefficiency and burning tax payers hard earned money like paper
@@uttamtaparia6435 ❤️
sir you are providing awareness to the non tax payer's 😂😂
😂🤣
Sir , i am obsessed 😵🤧 with your presentation 🙂 skills. Just wOw.
Points you mentioned are absolutely practical. All it takes is collate all the information from all the possible sources and just a software and at the hit of a button it can show mutiple data with tax invaders. I hope atleast 2CR more tax payers can be brought if govt can strictly implement this and pass on the benefit to direct TPs from whom their hard earned income is sucked
Only in dreams, nevwr gonna happen
how its a gud idea ? In india people share accounts to buy stuff . eg. amazon prime and flipkart premium, So that they buy stuff and free of delivery. but with this idea the raid will happen on the account holder.
@@sairoadways4365 if sharing is happening, then they can declare who they bought it for, as simple as that, nothing else is needed.
@@sairoadways4365 agar account share kar rahe hein to jawab bhi denge. Jyada din nahi chalega.
Aur ab to technology fast ho gayi hey. Jaldi hi pakad mein aa jayenge.
@@avishjha4030 itna easy nahi hey. Jiska account use and share ho raha hey woh fasega aur jawab dena bhari padega . Aur sare share karne walon tak inquiry jayegi aur sawal jawab honge.
Technology upgrade hone se bahut sare karmachari free ho gaye hein jo ab yehi scrutiny ka kam karenge aur naye tax payer search karenge.
Ab to USA mein bhi 2.5 Lakh karmachari naye bhari kiye jayenge tax chori pakad ne ke liye.
Cars can be repaired if the roads are good. Infrastructure redesigning is a more complex issue than maintenance.
12:24 Amazon/Flipkart pe to fake details se bhi ye account bana sakte hai, ya relative, friends or servent ke account se bhi maga sakte hai
😅😅😜😜😜😎😎😎😎😎🙏🙏🙏🙏
वह भाई हिन्दुस्तान के लोगों का जुगाड़ में कोई दिमाग नहीं 🤣
Great video! Sahikl Ji, the 1.5 tax payers the PM is referring to is that of folks who actually paid taxes and exludes those who filed for taxes but did not pay any taxes due to the various deductions?
Yes, cause the ITR filers in total are much higher but still miniscule compared to the population of the country.
I thought it was mandatory to share PAN details for cash Transaction above a certain limit, or am I wrong? Not getting why the government has to go and pass a law or something.
Yeah, but people don't really follow it na
In case of transacting through PayTm or Google Pay ..it's directly connected with the bank and all the transactions through UPIs are recorded in the bank passbook and secondly for activating paytm wallet you have to give your official document (aadhaar, PAN card etc.) ..So I don't think anyone use this way to hide money because no one can.
There is difference b/w "paying tax" and "filing itr", if only paying are considered then 1.5 cr might be reasonable because pay karne wale bhi toh hone chahiye 😅
rahi baat file karne ki to most of people are not aware of filing itr's so professionals should encourage and tell them the benefits of filing itr's
It is only related to digital transaction, what about realestate and gold, which are major area of hideouts.. Going after petty expense will not help..
Telecom operator are bound to give information under 133(6) of the income tax act. The department is functioning with 35000 employees which has 7000 people in decision making level against the 70000 sanctioned strength in India. Who will check and make inquiries. If one crore people is caught out of 50 crore sims, who will investigate. And please note the investigation should be completed in one AY I
E. from 1st April to next 31st March
Many people do not buy phones above one lakh
And mostly buy I phone
They could catch only those who are very suspicious
Like income is 1.5 lakh and expense is 5 lakhs
As many shopkeeper, local vendors do that
Why don't these politicians give income tax ? Take thousands of crores rupees in donations. Why written off Big businessmen loans and tax money. In electoral bonds selling, why don't give tax.
Remove income tax
Only expense tax should be there for individuals
taxation is theft
expense me bhi tax le raha he... GST
We should have only gst and no income tax for individuals
Direct Tax is a robbery
Why should I pay for the road which I never use
If the government removes direct tax for individuals, just imagine the increase in expenses and indirect tax
We are paying that on GST already
one thing here u may consider is, the rise of credit and BNPL modes have created diversity and PPP has increased massively for our population.
U said to prove ur expenses at 13:50, now my perspective is people can prove that they are in debt and used one of these modes for the expenditure.
i also use multiple credit lines like flipkart buy & pay later and amazons buy & pay later, ola money postpaid+, paytm postpaid, credit cards of axis bank and SBI.
With expenses going upto 5x of my monthly income. I admit I'm in debt but i went into debt coz i know i can handle thier EMIs for a particular time period with fix income.
This is INDIA!!!
Here Audi bmw owners are having ews and ncl certificates 😂
Hey Sahil Ji I'm 17 Years old and i always learn al ot form you videos thanks for making this contents for free
Thanks you sir. Government Mafia is gaining more and more power. Need to be careful. Someday you will try to spend diwali cash gift and they will come confiscate it.
Heads off to you, the way you explain everything 👍.
Asking users data can attract huge criticism from people as well as opposition.
This is good but not something easy to do.
It is already being done all over the world by all governments. WhatsApp Facebook Twitter Mobile Phones all are selling user data openly .
And government gets the data silently without any one knowing it .
Government should investigate the corrupted politician as how they can spend crores of rupees in rally etc then for citizens who are evading taxes .
Firstly government should educate on filing taxes for citizens . Even now there are unorganised sectors who are earning in lakhs do not pay taxes.
Jaise demonetisation ke time pe log CA ke pass gaye the settle karne vaise he 2.0 mai log CA ke pass jayenge.
Hamara hi fayda hoga 😂
Are unhe bataoge kya 🤔
loop holes Pata hone chahiye 🙄😐
But many people have usually two SIMs. What if they use number which is not linked with Aadhaar card for Gpay, PayTm or on other places. How can government track that?
Super analysis and the best way to alert people to be honest in their financial dealings. Great sir, you are really helping India grow financially. 👏👏👏
Sbse jyaada black money toh politicians ke pass he hai,unka toh aajtak expose nhi hua,jnta toh toffee or bhi tax deti hai
I can understand your subservience to the current regime with no economic acumen!
@@EmperorMagnon whos
12:56 Sir what if mobile number is linked to different Aadhar card and some people doesn't have pan to. For example in my home all sim card is registered with different aadhar card
Chikku be like :- hamesha main hi kyu 😂😂
Hello sir i want to add something, jab 2016 me demonitisation hua toh mujhe mere dost jo bank me high level par hai un hone kaha tha note bandi ke bare me unko 3-4 mahine pehle se pata tha, aur jitne bhi bade players the jese bade bade builder, businessmen, unko bhi pata chal gaya tha toh unhone apna sar black pehle hi hata diya, aur ek aur baat ambani ne jio 4g september me launch kiya tha mene aisa suna hai ki un hone Apna black money use kiya th usme, agar wapas kuch aisa hoga toh sirf middle class wale phasenge, aur joh bade log hai jese politicians aur businessman woh sab bach ke nikal jayege, agar rule ho toh sabke liye ek jaise hone chahiye warna na ho
Income tax act are made to exploit middle and lower class there very few exemption for them.
Don't you have to give your pan for cash transaction of more than 50k?
I believe govt should come up with more ways to catch tax evaders. Huge number of people in India earning a lot but not paying tax. This is the reason why every govt forced to keep the tax rate high to generate necessary revenue and honest taxpayers get slaughtered.
Still intelligence of the public cannot be under estimated....
What about politicians, GST and will the demonetisation help government to recover blackmoney in form of crypto?
Government might do this but if many people are pestered then people may create negative image of them , votes/majority to come down . As proper facilities are yet to be given to people , but are improving for sure from past few years 💯
Savings could have been used to buy second hand cars, going overseas for studies could have been due to fixed deposits, not necessarily due to black money
I think RBI rolling out E Rupee will be game changer. Govt may gradually force out physical notes by promoting E rupee
Ye choro ki party ganta Digital karenge... Loot liya desh ko 8 saal me
People will roleout BJP
@@thetruth3322 modi sarkar toh gayi
@@apdhillon856 Supna wekh kaaka tu
I have a query, most of the people are purchasing car through loan, just to show off but are actually belongs to middle class. So still that data base is effective?
❤️❤️❤️ Sir, aap finance minister ho jao
Apko hamara pura support hai
2-3 yrs me India Dubai jaisa ho jayega 101% 🤗
Seriously ✌🏻👍🏻👍🏻👍🏻💯
Absolutely right..... Ur supposed to be Finance Minister of India 🙏🏻
Nhi ho sakta bhai finance minister ki team me inse kai zyada एक्सपर्ट लोग hote hai
The biggest issue is going to be the opposition to these rules by the opposition parties and public at large who will raise the issue of data privacy and attack by government on personal data
Mindblowing analysis Sir!💯
Government's each and every move is with a hidden intention and this video is a proof of it.
Thank you so much sir for sharing your views on this topic. It was a real eye opener video❤
6:07 sarkar ko kaise pata chalega ki maine phone,tv lakho ke liye aur ghuma phira jab sari payment cash me thi
Ppl hiding taxes also have hidden intentions, right? You reap what you sow.
@@pwinsider007 phone number to daloge na
Aur tv to Android TV ho gyi hai
Aur aapke service providers ko pta hai ki konsi tv hai aapke pass
There is an option to deactivate your account on platforms like Amazon and Flipkart, and therefore, the data associated with your account will be erased. So you can repeatedly create and delete accounts...
Thanks sir.
Very helpful topic
My self Nagendra
Inspector of Income tax
Namaste sir ...si h sir sabko pakdo .....tax invasion wale ...
आप द्वारा बिल ट्रेडिंग वाले वीडियो से nexus की जानकारी होने से GST FROUD का एक बड़ा case अभी just पकड़ लिया गया।
@@nagendrasingh5281 Mene 4cr chhupaye hain aur kabhi milne nahi wale because mene sapna dekha tha chuupane ka 😂😂
BCCI richest cricket body in the whole world is exempted from taxes and home minister's son is head of BCCI.
Tax evasion occurs at these high levels.
Commen men earning 5 to 10 lacs is busy with his daily needs.
I guess the easiest way for Govt to track the undisclosed income is to call information from banks. You can easily observe that the one's earning black money will not have much debits as compared to the one's earning white money. In this way the assessee may be questioned how he maintains his/her standard of living
Speculative, but random samples can be considered.
However, the error margin would be significant.
Not all people are in same phases of life.
Not all people need same level of money to maintain standard of living.
I think you have zero understanding of how world works.
For a young 30 year old man with high earning,his spending habit will be far different than another man of 55 year old.
For you earning 1 lakh rs salary per month may be like you win the game but for a 50 year old man,earning a 1 lakh is like nothing.
Not because he is corrupt or whatever but he has already making much higher earnings and his spendings are low because money require to spend is smaller because his family also start earning.
The information sharing from banks is now automatically reaching Income Tax department in real time.
Try doing that to 135 Crore people, and you will have a million stress related suicides in the tax department every year.
@@jaishetty8586 Yeah got a simple solution for that. Only analyze the data of professionals like CAs, Doctors, Lawyers, etc. They are the main tax evaders 😂
Sir you are very intelligent and the way you teach, is awesome
Aam janta chor hai tax nahi deti. Per saare politition sareef hai koi ghapla nahi karte h. Ye soch h saare political party ki. Corporate ka caroro ₹₹ ka loan or tax maaf kar dete ye politition. Ye sab logo per control karne ke liye ho raha h
Corporates are given incentives because the banks analyse their financials, and see scope. Not all are like Mallya and Modi. There are Ambani and Tata-like corporates too.
Now, should a bank incentivise an entrepreneur or some Babu or Shona huh?
@@_Mohit_Joshi what about politicians?
Good video, Mr. Sahil Jain. subscribed!👍
Those who are talking about privacy
Beta log,
Plz read income tax section 133 and PMLA act sections calling requred information from anyone.
U can not bind "law makers" in chain
Time esa aane wala hai ki sarkar khud return bhrke degi aapo , aap file fro bs tax pay krke
They have all information
Sudhar jao😇
@Taxation with CA Sahil Jain
Am i right sir!!
Finally Sir Ne Meri Baat Sun Li Aur Baith Ke Padhane Lage Hai. Thanks a lot Sir ❤️
Itna bhi asan nhi hai pakadna, as a cybersec expert i have plenty of bypasses for problems like mobile numbers and aadhar numbers. Moreover, companies like Apple will never agree to share their customers data no matter what. Also, people will start buying products from companies which will keep their transactions secret which includes foreign e-commerce companies delivering to India. Any such move from government, e-commerce companies will be first ones to move out from jurisdiction and operate because nobody wants to lose customers.
But u need sim to use that phone...so network operators can provide the details...
There are many companies which provides voip services with an actual phone number.. no need for a sim..
वही तो भाई, में किसी अपने काम वाली बाई के मोबाइल से अकाउंट बनाऊँ अपना amazon या Flipkart का, उसपर जो चाहे जो खरीद लू 🤣🤣🤣
@@Fuddifadu which companies provide voip,
Rightly said
Another way could be to increase gst for non-taxpayers for any high value transaction and mandate PAN card for any transaction above 50k.
Knowledgeable content 🔥
Many taxconsultants do not include full amount received through the UPI system ,
It's easy to track if you make PAN mandatory for bills more than 30k. Also provide discount/tax benfits if they provide PAN.
1.5 l hypothetical officers (it's even less)can't process the record of150 cr. Population or even half if it become necessary.
The best solution is there is 1% tax on each bank transaction and there is law that more than 5000 cannot accept cash for any purchase
Very commendable sir....
Very nice strategy ❤️👍
It must be applied as soon as possible
IMEI can al also be used track phone no. AI is already tracking all these. The big players escape quoting agricultural income.
They could also bring in expenditure tax.
Traceable digital currency mandatory for real estate and entertainment industry....it's easy to find money movement path 😀...how it got accumulated at certain places...bas wahi sae Kato tax 🤣😀.. 💐💐💐🙏🙏🙏
Thanks for creating awareness. However, most people buy properties (especially plot) in my locality. The stamp value of the property is actually 20-30% of its actual value. Plus, buy gold from local shops without GST bill and in cash. No way to track these tax evasions.
If government raids and find more gold than a permissible limit(without bill), then you are liable to pay tax on that
@@danishpachyala8618 Dear Danish, I understand that there is a rule. But, who cares? I have seen a lot of people around me doing it for decades. Anyway thank you for your response.
@@rnhotta18129 exactly. It will impact them only if they get raided
Sabse best practice -
Reduce tax rates drastically for 1 PY and collect the taxpayers data having Total income above 10L.
Next year se back to normal rates and you'll have list of evadors
can you elaborate?
@@pranomadityagogoi8046 sorry brother, I've just stated a hypothetical scenario. Don't waste your time seeking elaboration🙂
PoV : If all earners pay their respective taxes honestly, India will become an economic superpower :)
Just remove Income TAX, and increase indirect taxes
@@issacdhan then continue hiding your income and staying in a fear of getting caught
@@issacdhan what i meant was that everyone doesn't pay actually the majority hides there income and do not pay income tax
So if govt just remove the direct taxes and increase indirect by a bit
Then this would not affect the total tax collection, as we removed some taxes and increased other
And no one can hide from indirect taxes, so everyone will have to pay that
Exempt income taxes on individuals, HUFs, partnership firms. Tax only companies
Income tax in itself is a fraud. Why keep paying multiple taxes on one source of income when you are taxed at every stage you use your income
Flaw-
There may be a case where a person is ordering and paying from number not registered with Aadhar and PAN
Solution-
Now a days if you purchase a new sim card, they always ask for Aadhar card, so gov can ask telecom companies for data list of number with aadhar number.
There is no number without adhaar, and even if you get some other person aadhar card for your number. That person could be held and he can provide your information.
Good info abt avoiding taxes by people & govt's actions to catch them .
Recently govt made laws to limit amount of gold a person can have as well. Most of the black money goes into land and gold only. I hope this initiative of government will curb corruption too which is the biggest blocker for India's development
Very clever idea...sir ji...indian government is becoming very smart....
If This Co.'s Shares The Data To Govt. Then it Can't Be Called as Violation of Privacy? Pls Explain!
Privacy is now a myth💀
It's not
Privacy does not exist anymore 💀
If you are not a criminal, why worry if the government is keeping track? If you are a criminal, then you deserve to worry.
Exceptions are everywhere 😂
Aam insan se jyada politicians tax chori karte hai
Lekin unke jayah IT rade nahi padte untill they are against government or opposition
Hello sir,
Your videos are really useful and informative for me even from different field.
Sir black money property investment mein nahi kaam aayegi? Isnt it one of the main reason why people do tax evasion?