Whats your thoughts on indian tax system

[tushu5121]

Hello everyone.

WHats your thoughts on Indian tax laws and tax system/ Structure
And scare of IT department in common people.

Personally i feel its painfull as a self employee and part time Stock Trader

In this year i made a profit of around 15L from Stock market STCG.
And also from My shop.

But when it comes to Exemptions and dedcutions many of them is like *Unth ke muh me jeera*

i feel a common man or a small business owner should get Relief in taxes.
I also saw and personally have Scare of IT notice..🤣. Kn various Transactions Like CC payments, cash Deposits Online payments etc..

Whats your thoughts this.

 

[amitr29]

Hello everyone.

WHats your thoughts on Indian tax laws and tax system/ Structure
And scare of IT department in common people.

Personally i feel its painfull as a self employee and part time Stock Trader

In this year i made a profit of around 15L from Stock market STCG.
And also from My shop.

But when it comes to Exemptions and dedcutions many of them is like *Unth ke muh me jeera*

i feel a common man or a small business owner should get Relief in taxes.
I also saw and personally have Scare of IT notice..🤣. Kn various Transactions Like CC payments, cash Deposits Online payments etc..

Whats your thoughts this.

In my view, Indian Tax system is not bad but what's bad is the end use of tax for benefits of people like us. Swatch Bharat didn't make Bharat any swatch but we end up paying added Cess. Also, roads are not maintained, no good government medical facilities etc. In the end we all know where our tax money goes 😔

 

[tushu5121]

In my view, Indian Tax system is not bad but what's bad is the end use of tax for benefits of people like us. Swatch Bharat didn't make Bharat any swatch but we end up paying added Cess. Also, roads are not maintained, no good government medical facilities etc. In the end we all know where our tax money goes 😔

Agreed..
As a medical patient i can say this.

Not much facilities in govt. Hospitals. But still better than before. But needs more improvements.
A swach bharat is good initiative but sadly people make fun and not take responsibility to make suroundings clean.
By throwing garbage plastic bottles everywhere they found clean place.
Roads are still better. But not that level which we are paying for.

By alreasy paying bunch of taxes still have to pay higher toll taxes.

Also no good And highclass primary Secondery or higher Education in Govt school colleges..
And if some have. Then very tough competition for it

 

[OverdosingOnCopium]

I don't pay taxes on my investments which are of multiple crores in cryptocurrency. I even have my 'income' stated as 23 lakhs per annum which isn't even 10% of my annual income.

 

[techt]

I don't pay taxes on my investments which are of multiple crores in cryptocurrency. I even have my 'income' stated as 23 lakhs per annum which isn't even 10% of my annual income.

 

[tushu5121]

I don't pay taxes on my investments which are of multiple crores in cryptocurrency. I even have my 'income' stated as 23 lakhs per annum which isn't even 10% of my annual income.

Konsi trick h baba hamko bhi bta do.. ham bhi tax bchana chahte h..

 

[techt]

Konsi trick h baba hamko bhi bta do.. ham bhi tax bchana chahte h..

Ask right question. How to earn in crores?

 

[Riya]

Indian Tax system is pathetic...
An individual is paying more in taxes 30% than a big conpany pays 22%...
No respite or assurances to the taxpayers for future...
The Govt is just taking taxes from top and middle class people and feeding poor with it...
If I pay tax and get assurances of basic amenities required then no-one will do tax evasion

 

[amitr29]

I don't pay taxes on my investments which are of multiple crores in cryptocurrency. I even have my 'income' stated as 23 lakhs per annum which isn't even 10% of my annual income.

Tell me how to earn crores, I am ready to pay taxes also 😉

 

[tushu5121]

Ask right question. How to earn in crores?

Yeah... please tell me how to earn in Crores?

 

[techt]

Yeah... please tell me how to earn in Crores?

Ask copium, he earned in crores.

 

[tushu5121]

Indian Tax system is pathetic...
An individual is paying more in taxes 30% than a big conpany pays 22%...
No respite or assurances to the taxpayers for future...
The Govt is just taking taxes from top and middle class people and feeding poor with it...
If I pay tax and get assurances of basic amenities required then no-one will do tax evasion

Correct..
ANd not only this.
Now days Everything is becoming Taxed..
I saw a parking guy giving Receipt of Gst..
I mean really?
Which kind of Tax slab this is?
ATleast they should not take taxes on STCG or LTCG.. Daily needs item..
Assential comodities..


Atleast increase the Tax slabs in income tax

Increase the Exemptions and deduction amount.

 

[OverdosingOnCopium]

Konsi trick h baba hamko bhi bta do.. ham bhi tax bchana chahte h..

I've been day trading Cryptocurrency since I was 16. I am 21 now and have had a fair amount of success. I also started a small Clothing Business in Singapore and I work WFH at DB Schenker. I have decided not to doo my master's and instead focus on my business. I also want to make my own trading firm one day in the future.

 

[OverdosingOnCopium]

I've been day trading Cryptocurrency since I was 16. I am 21 now and have had a fair amount of success. I also started a small Clothing Business in Singapore and I work WFH at DB Schenker. I have decided not to doo my master's and instead focus on my business. I also want to make my own trading firm one day in the future.

When I was 17 I had no income and was in debt of around 9 lakhs. I used to cry myself to sleep and would literally have mental breakdowns once a month.