I was working in Europe, where I paid less than 15% in taxes. However, after moving to India last July, I now pay 40%. I run a research and development company in Chennai with a few employees, but I regret my decision to move to India. I am closing my company and returning to Europe on April 1st .
All youtubers should make video on tax terrorism till the time it is noticed.. thankyou Mr Sundar for highlighting such important topic.. please make more such videos.
Yes I think many youtubers like Akshat Srivastav, Sundar, Finnovationz Prasad, and many more are already doing and they are enlightening Indians about Tax Terrorirsm happening in India
I m a victim of this terrorism, I filed my ITR and paid my taxes the same day, but forgot to mention it in the ITR before submitting it. The IT department came back with its demands after 5 to 6 months with interest and fines. The form 26 AS shows the tax paid, but the IT department wants me to pay it again. I reached out to them ing how do I fix the issue? They are clueless and couldn't help me for 3 years. And kept sending me their demand. Finally I ve to pay a CA and file an updated ITR and then they closed the case. But I lost the fee I had to pay to the CA, and valuable time trying to figure-out what to do and the stress is extra.
Yes, it's true... Panipuri seller received notice your income is 40lakhs... Customer pay money through UPI ... Govt take all money considered income... But he pay money to raw material... Main problem in our country govt don't know how to increase people income... They Collect taxes and show it's development...
So what.? If panipuri seller is earning excess after his expenditure & if he fits in the slab then he must pay income tax. If he is a less earning vendor then he wil not come under any slab.
@balarajkakumanu9882 both are same.Evil politicians and greedy officers is what is the government. Democracy is just a name sake to make people, believe and accept the slavery enforced.
@@VijayaSrinivasan-ko7co kathu athavathu air india la romba polluted pa kasu kuduthu delhi mumbai la cylinder la vanga arambichutanga gavanama irupa 😂😂
Only income tax terrorism was covered. The gst dept harassment is at another level. They will make silly mistakes in their audit and make you run around. Had to spend close to 3 lakhs to consultants for replies and running around. The system is broken at every level and running any business is fraught with such risks.
Wrong. It changes for worse every time. When UPA was in power, BJP talked about Tax terrorism but when they came to power, things went from bad to worse.
The belief was that as technology improves these accounts tracking should become smooth instead we made a complete mess. Using technology to harrass people more. I'm Going to quit 9-5 job and go farming.
Sad for the farmer, very much True last week Chennai corporation called my father who is holding a company name for name sake, he is old does not run any business, but Chennai corporation guy called and told he has to pay Professional tax and my father got irritated. If a person can know someone owns a company can he not know whether is it making any revenue or not? and they keep annoying with this KYC whenever any transactions are made....
Really a necessary topic to raise sir. Thank you for that. Horrible situation in India for all the middle-class people. They are suffering like anything
S , sir they don't ask politicians and they ask only common people. What's the govt we don't know. How the politicians in 4 years they got so much money.
Governments work either for the people, or against them. Democracy is code name for governments that work for the corporates ( and by definition against the people ) In India, governments work for brahmin bania corporate rule, and destroying small and medium scale industry is crucial for that. While the people are too docile to protest, forget fighting for freedom
Yes the system is corrupt. You do not only pay bribe for demands made against complex rules but you also pay bribe for making corrections which 'public servents" do casually due to lack of focus on work.
My borother working in Diubai for short term transferred 1 lakh to my younger brother to handle his family expenses since they are not finacily literate.They sent notice and it took lot of time and money to close that case. This happened during congress time.Not much diffrenet now also
The former finance minister Jaitley introduces STT on shares and gives solemn assurance that this is in lieu of Long term tax. He dies, new FM comes and she introduces tax on long term gains, inspited of knowing the solemn assurance given by former FM. What do you call this. Arrogance of the FM or her government. Tax payers are persecuted lot and then they give freebies to selected people. Today newspaper says that Maharashtra govt has no money due to freebies and appointed a committee to increase their revenue to meet the freebies requirements. This now becoming the law for all other states. We can only talk on the comments section with no hope of redressal from any one including the GOD.
Sir, first of all, I thank you for speaking for us. Corruption is the main cause of all the problems for good people. We need to live peacefully. Hope the system changes and we develop.
in India tax sucide is there. In the name of tax they are suck the people blood. There should be genuine tax. Otherwise most of the entrepreneur will left from India. It's going to happen in the coming days
Last year ended in heavy loss in F&O but auditor says it is only turnover. Total of buy and sell to be considered for tax. He says further tax has to be paid. Already employer has deducted more than liability. I lost money, how can I pay what has not been earned, when already lost money? Auditor says all expenses, MTF INTEREST, STT can not be claimed and exempted. Again there is a loss due to accounting system, which I do not know and understand. I am a mechanical engineer going to retire in 2 years have house loan, extending beyond retirement. [While taking loan retirement age was 60, when Adani taken over made retirement age 58] Have little retirement carpus , have to spend for daughter's marriage, upcoming medical expenses. Govt looks F&O , Future as gambling and Govt is gambling out of it, want to punish heavily for involving in F&O.
Mr Sunder gave an example of the brother who wanted to buy the house in cash (Black). This in it self it taking the money out of the system and when you deposit the money in the system of course government will ask where this money is coming from. The users should be encouraged to minimize the cash purchases specially for large sum to ensure that proper records are maintained . My 2 cents
I changed oils and some spares for my bike and small car --- the service is called periodic maintenance (single name ) - But for spare seperate GST and for service seperate GST ------- it can also be called as double taxation! ----- according to me its one service I am opting
Agree, govt restricted officer to not to close/sort out the case instantly but it gives power to harasse the individual. An din turn govt people blackmail you to not to harrasse you. "Paisa de nahi to fansa doonga"
Even though he is not talking against bjp.. they are actually the reason for many new taxes on already burdened salaried class...such an idiotic govt this is...
Sundar sir 🙏 it's better to migrate to Tax free country 😂U narrated in practice in India 😅 It's better to bring it to the honourable beloved FM Mrs Seethamma with folded hands 🙏
I am comes under 30 percent income tax slab before 4 months i gave 40k rupees to my sister for an emergency purpose 1 week before I got it back . Now I am getting confuse whether income tax office will ask me pay 30 percent tax for the 40k again .
Yes this is very true, when I was student I applied for passport , I had to give my bribe to a police person irrespective I had fair documents, being a student I had no choice, I paid then they proceed verification. Further, 100% agreed, entire system is nonsense and corrupt, always Remember... RAAJA jaisa hota hai vaisi janta hoti hai... Top leaders are bhrast.....
People donot want to talk about the real rootcause. Taxation is no more a revenue generation tool. Govts design laws in ways that are complex, restrictive, making it difficult for people to comply fully. This leads to unintentional violations, fostering a sense of guilt among citizens. Such feelings can suppress dissent, as people become hesitant to question authority, fearing retaliation or exposure of their own minor infractions
Thanks for information and views. I am great fan of your deliberations, please narrate problems one by one along with their possible solutions, so that responsible persons can analyze further and provide some solutions. Relinquishment of Indian Citizenship for high taxes is a great problem facing by the policy makers nowadays.
Bribing / Corruption must be treated on Par with Robbery and must be treated as Criminal Offense with RI Term. Will the Politicians & Govt. officials dare a Bill ? They will all be in Jail...so keeping it as a soft offense !
I always look up your videos for update! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Fiona, imagine investing $12k and receiving $85k
All government agencies will never do anything which affects the people in power. That shows the reality and honesty of these departments.Common man have to understand that government is not to help or protect them . But ti safe guard the wealth and power of some other class.
Thanks for the insights. Its not just IT department, there is a much larger issues surrounding to law making process/discussions, interpretation of them by authorities, most importantly corruption at the core. All these deadly combination making law & order implementation not in good shape, some times it functions fully illogical way. Honest people could easily divereted to dust. One case (even false), could potentially wipe out all the hard earned money. Its very difficult to preserve wealth in this country. History reveals the same, may be its there in the DNA. God is saving this country...
Very nice content presented neatly. I think government need to audit the income tax system and make necessary corrections so that every individual get justice
After you moved to Dubai, many other youtube influencers copied and moved as well. You have influence in finfluencers society, though those youtubers don't give you credit.. what's another interesting point is that, they used to claim they are contributing/servicing to India.
Government has taken people for granted. Much was expected from present BJP Government . But they are busy playing survival tactics. If free bees are to be curtailed , they should bring legislation so that no political party declares free bees without disclosing audited sources of funds. Simplification of tax laws is needed and draconian clauses from IT acts must go off.
Yes lower to upper entire system is corrupted. People who is in system they also talk like we can't do anything system is like that. Wtf going on with this country.
In Tamilnadu, for 1.2 Crore women every month 1000 Rupees free, For all Women transport is free, For all farmers Electricity is free, For all Children transport is free, For all houses minimum current is free, For every election each house will get minimum 5000 Rupees free like that so many free schemes available. For all the above schemes how government is getting money? Through our Tax money only. First try to ask question against the so called corrupted politicians. Then sit and give lecture about Tax system.
I haven't experienced the stories Sundar Sir mentioned in the video. But then what is it about Vivaad se Vishwas that the Finance minster talks about in the Budget speech
I was working in Europe, where I paid less than 15% in taxes. However, after moving to India last July, I now pay 40%. I run a research and development company in Chennai with a few employees, but I regret my decision to move to India. I am closing my company and returning to Europe on April 1st .
April fool day
Good....leave
Save ur self by leaving this tax mongering dirty nation
U r lucky able to move.. but we r nt
My request, please reconsider. Let us tolerate and try to change the System. Please
All youtubers should make video on tax terrorism till the time it is noticed.. thankyou Mr Sundar for highlighting such important topic.. please make more such videos.
yes
Yes I think many youtubers like Akshat Srivastav, Sundar, Finnovationz Prasad, and many more are already doing and they are enlightening Indians about Tax Terrorirsm happening in India
I m a victim of this terrorism, I filed my ITR and paid my taxes the same day, but forgot to mention it in the ITR before submitting it. The IT department came back with its demands after 5 to 6 months with interest and fines. The form 26 AS shows the tax paid, but the IT department wants me to pay it again. I reached out to them ing how do I fix the issue? They are clueless and couldn't help me for 3 years. And kept sending me their demand. Finally I ve to pay a CA and file an updated ITR and then they closed the case. But I lost the fee I had to pay to the CA, and valuable time trying to figure-out what to do and the stress is extra.
It's really appreciable that you are raising real issues faced by tax payers....
Yes, it's true... Panipuri seller received notice your income is 40lakhs... Customer pay money through UPI ... Govt take all money considered income... But he pay money to raw material... Main problem in our country govt don't know how to increase people income... They Collect taxes and show it's development...
So what.? If panipuri seller is earning excess after his expenditure & if he fits in the slab then he must pay income tax.
If he is a less earning vendor then he wil not come under any slab.
You show your expense and get the notice quashed. Or get a refund. As simple as that.
I did and got a refund without hassle
40 lacs is a income, liable to pay tax
40lakhs turnover only. Above 40 lakhs turnover, the business should come under gst. Don't confuse GST & Income tax.
@@pnreddycorpbankno need to pay.....politicians are not using it for the development. Shut your mouth you half knowledge idiot
Here in India, harassment of the people from the govt and judiciary is not even talked about. It is as if they are doing us any favor.
Government is the biggest terrorist 😢
People will not understand,but that's the sad truth.
small correction, not from govt but from Departments, they have all power to ruin the peoples life.
@balarajkakumanu9882 both are same.Evil politicians and greedy officers is what is the government.
Democracy is just a name sake to make people, believe and accept the slavery enforced.
@@happybuddha3000 I dont think so, only Govt officers are evil, not politicians.
Planning to leave india 😂
He is not indian citizen but Singapore
Me too
He already went out 😂
Ponka Paa Kaathu Varatum.
@@VijayaSrinivasan-ko7co kathu athavathu air india la romba polluted pa kasu kuduthu delhi mumbai la cylinder la vanga arambichutanga gavanama irupa 😂😂
Why income tax people not sending notice to real culprit politicians
Because they are the richest farmers.
Only income tax terrorism was covered. The gst dept harassment is at another level. They will make silly mistakes in their audit and make you run around. Had to spend close to 3 lakhs to consultants for replies and running around. The system is broken at every level and running any business is fraught with such risks.
I am suffering the same issue this is very true
Let's boycott the budget and boycott the income tax return.
I really appreciate you came up with this. This is literally mind duck for the middle class. The government and its employees and its system ducks.
This system will never change in India
Wrong. It changes for worse every time. When UPA was in power, BJP talked about Tax terrorism but when they came to power, things went from bad to worse.
Govt salaries are growing.. so tax collection as to go up😢
1000% true
Never change so leave from INDIA & go to Afganistan with your entire family
The belief was that as technology improves these accounts tracking should become smooth instead we made a complete mess. Using technology to harrass people more. I'm Going to quit 9-5 job and go farming.
Sad for the farmer, very much True last week Chennai corporation called my father who is holding a company name for name sake, he is old does not run any business, but Chennai corporation guy called and told he has to pay Professional tax and my father got irritated. If a person can know someone owns a company can he not know whether is it making any revenue or not? and they keep annoying with this KYC whenever any transactions are made....
I can understand your frustration levels boss.
Tax🔝
Facilities⬇️
Really a necessary topic to raise sir. Thank you for that. Horrible situation in India for all the middle-class people. They are suffering like anything
The main issue with our country is corruption, thanks for the informative video.
BJP government itself have lots of corruption among the politicians.
Living in this country more painfully
S , sir they don't ask politicians and they ask only common people. What's the govt we don't know. How the politicians in 4 years they got so much money.
Our politicians are so clever and smart that, they already made provisions exempt their incomes from various sources as tax free.😂😂😂
आपकी सलाह से अब XAI27K में गहरे से निवेश किया है। अब मैं देखना चाहता हूँ कि यह कहाँ जाता है।
Yes you are correct and True speech Mr”sundar .. “Very very worst system””everywhere here
Better wind-up in india and move to a better country with no corruption. We live only once. And life is short
Where?
tell me the name of the country.
@@acash5996 somewhere like new zealand, Fiji,hawai, any suggestions?
True
everywhere is corruption but less
Today the DEX in Bybit is lagging!!
I just done video to show that
When you are exchanging it's giving you like 9x
Governments work either for the people, or against them. Democracy is code name for governments that work for the corporates ( and by definition against the people )
In India, governments work for brahmin bania corporate rule, and destroying small and medium scale industry is crucial for that. While the people are too docile to protest, forget fighting for freedom
British rule was better 😢
Yes the system is corrupt. You do not only pay bribe for demands made against complex rules but you also pay bribe for making corrections which 'public servents" do casually due to lack of focus on work.
My borother working in Diubai for short term transferred 1 lakh to my younger brother to handle his family expenses since they are not finacily literate.They sent notice and it took lot of time and money to close that case. This happened during congress time.Not much diffrenet now also
The former finance minister Jaitley introduces STT on shares and gives solemn assurance that this is in lieu of Long term tax. He dies, new FM comes and she introduces tax on long term gains, inspited of knowing the solemn assurance given by former FM. What do you call this. Arrogance of the FM or her government. Tax payers are persecuted lot and then they give freebies to selected people. Today newspaper says that Maharashtra govt has no money due to freebies and appointed a committee to increase their revenue to meet the freebies requirements. This now becoming the law for all other states. We can only talk on the comments section with no hope of redressal from any one including the GOD.
Very very worth video. P R Sunder ji is requested to bring some more videos like this to enlighten public
Sir, first of all, I thank you for speaking for us. Corruption is the main cause of all the problems for good people.
We need to live peacefully.
Hope the system changes and we develop.
India= Man for rules. Other countries = Rules for man, to serve man.
XAI27K में भारी निवेश किया है। यह टोकन बहुत जल्दी संदेह करने वालों को पीछे छोड़ने वाला है। अगला bull market हमारा होगा!
in India tax sucide is there.
In the name of tax they are suck the people blood. There should be genuine tax.
Otherwise most of the entrepreneur will left from India.
It's going to happen in the coming days
Super Sir, hope government understand the problems with this kind of Tax Structure.
Last year ended in heavy loss in F&O but auditor says it is only turnover. Total of buy and sell to be considered for tax. He says further tax has to be paid. Already employer has deducted more than liability. I lost money, how can I pay what has not been earned, when already lost money?
Auditor says all expenses, MTF INTEREST, STT can not be claimed and exempted. Again there is a loss due to accounting system, which I do not know and understand.
I am a mechanical engineer going to retire in 2 years have house loan, extending beyond retirement. [While taking loan retirement age was 60, when Adani taken over made retirement age 58]
Have little retirement carpus , have to spend for daughter's marriage, upcoming medical expenses.
Govt looks F&O , Future as gambling and Govt is gambling out of it, want to punish heavily for involving in F&O.
Nice Topic.....Long Awaited!❤
A farmer who roams in BMV need not pay a single paisa as tax whereas a trader who toils for entire day requires to pay tax .
How many farmers r roaming in Bmw ?
Thats was the law since 1952 - Nothing new
I am yet to see a farmer whose only income is from agriculture roaming in a BMW
And u should believe that Dhoni sir, Salman Khan.... is a farmers and they don't have to pay any tax....
Its another kind of mafia
Exactly
In new pay commission , central government peon will get Rs 60,000 per month
60000 just to collect bribe and share with his hierarchy. Bloody government and its employees
So what ??
Be peon in India . Less respect but more money ✊
Do you think 60000 pm is very high for peon ???
@@udhayakumarMNyes it is
My first like, before the video starts only because of the subject.
Mr Sunder gave an example of the brother who wanted to buy the house in cash (Black). This in it self it taking the money out of the system and when you deposit the money in the system of course government will ask where this money is coming from. The users should be encouraged to minimize the cash purchases specially for large sum to ensure that proper records are maintained . My 2 cents
I changed oils and some spares for my bike and small car --- the service is called periodic maintenance (single name ) - But for spare seperate GST and for service seperate GST ------- it can also be called as double taxation! ----- according to me its one service I am opting
Superb video sir. 👍Somebody should send it to PM and FM, maybe they will understand the plight of commonman.
No use. They will only find out ways to tax you more after seeing this video.
Then will charge a case against PR and this channel would be closed😂
Indian government should look into this and do a correction in systems.
Not going to happen. We should stop day dreaming.
You are true sir,, Same issue with me happend on cash deposit where i have sold agriculture land and deposited, got notice from income tax department.
Agree, govt restricted officer to not to close/sort out the case instantly but it gives power to harasse the individual. An din turn govt people blackmail you to not to harrasse you. "Paisa de nahi to fansa doonga"
Nothing changed In amritkall...BUT Modi voters are enjoying Hindu muslim debate...Digging Lands...
Totallly agree withyou sir😂
Even though he is not talking against bjp.. they are actually the reason for many new taxes on already burdened salaried class...such an idiotic govt this is...
Sundar sir 🙏 it's better to migrate to Tax free country 😂U narrated in practice in India 😅 It's better to bring it to the honourable beloved FM Mrs Seethamma with folded hands 🙏
This is really a bold attempt. Circulate this video until it reaches the rulers
I am comes under 30 percent income tax slab before 4 months i gave 40k rupees to my sister for an emergency purpose 1 week before I got it back . Now I am getting confuse whether income tax office will ask me pay 30 percent tax for the 40k again .
True Mr.Sundar
Yes this is very true, when I was student I applied for passport , I had to give my bribe to a police person irrespective I had fair documents, being a student I had no choice, I paid then they proceed verification.
Further, 100% agreed, entire system is nonsense and corrupt, always Remember... RAAJA jaisa hota hai vaisi janta hoti hai... Top leaders are bhrast.....
Govt not given power in india to IT officer. But how come when bribe given to same IT officer he gain power to relieve the tax payer
Good point
that is called power of money
Now day's we also feel this.. issue
Very nicely explained by you
You speak sweet English
Love from Rajasthan
Jay Hind
Well explained sir .......I am in Hongkong, even, I am also not interested to come back india...due to correct system
People donot want to talk about the real rootcause.
Taxation is no more a revenue generation tool. Govts design laws in ways that are complex, restrictive, making it difficult for people to comply fully. This leads to unintentional violations, fostering a sense of guilt among citizens. Such feelings can suppress dissent, as people become hesitant to question authority, fearing retaliation or exposure of their own minor infractions
very well represented. Any body in govt listening
Sir we appreciate for every line as u mentioned
Thanks for information and views. I am great fan of your deliberations, please narrate problems one by one along with their possible solutions, so that responsible persons can analyze further and provide some solutions. Relinquishment of Indian Citizenship for high taxes is a great problem facing by the policy makers nowadays.
Bribing / Corruption must be treated on Par with Robbery and must be treated as Criminal Offense with RI Term. Will the Politicians & Govt. officials dare a Bill ? They will all be in Jail...so keeping it as a soft offense !
I always look up your videos for update! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Fiona, imagine investing $12k and receiving $85k
All government agencies will never do anything which affects the people in power.
That shows the reality and honesty of these departments.Common man have to understand that government is not to help or protect them .
But ti safe guard the wealth and power of some other class.
Excellent explanation. But what is the solution. Perhaps revolution in culture
Free amenities to useless people by taxpayers money.
Thanks for the insights. Its not just IT department, there is a much larger issues surrounding to law making process/discussions, interpretation of them by authorities, most importantly corruption at the core. All these deadly combination making law & order implementation not in good shape, some times it functions fully illogical way. Honest people could easily divereted to dust. One case (even false), could potentially wipe out all the hard earned money. Its very difficult to preserve wealth in this country. History reveals the same, may be its there in the DNA. God is saving this country...
Amazing insights dear Sir . I too find it very difficult while filing ITR forms 😊❤❤❤
When politicians are able to enjoy this system, it will will not change. So far they are able to fool our country and this will go on😢
Please do the needful to ask East India company to start business again..
These are dalal of finance ministry. May be they have target like police now a days. God save this country from these arrogant spineless system.
May be? 😂
Very nice content presented neatly. I think government need to audit the income tax system and make necessary corrections so that every individual get justice
After you moved to Dubai, many other youtube influencers copied and moved as well. You have influence in finfluencers society, though those youtubers don't give you credit.. what's another interesting point is that, they used to claim they are contributing/servicing to India.
Forwarding this video to Finance minister
Very useful presentation. Thank you sir ji.
Very well spoken about the system in India
Very interesting and informative.
Thank you Sir
Sir you told very excellent Indian tax system super......
Thank you Sir for showing a real picture of the system without any hesitation , everybody should watch this video spread this video.
Government has taken people for granted. Much was expected from present BJP Government . But they are busy playing survival tactics. If free bees are to be curtailed , they should bring legislation so that no political party declares free bees without disclosing audited sources of funds. Simplification of tax laws is needed and draconian clauses from IT acts must go off.
Yes lower to upper entire system is corrupted. People who is in system they also talk like we can't do anything system is like that. Wtf going on with this country.
Yes, I agree with you 🙏
yes this is very correct and you select good topic also
They destroy that farmer life for nothing😢 what nonsense running this.
How can IT department take turnover as profits?
What a great video !!!
We are the sponsors of Feebees but Politicians take the credit
True
Need changes in IT rules , if we want rich not to leave India and dip in per capita /GDP..
They became rich because of INDIA... don't worry if the one rich leaves then there will be another person
The system is so horrible , you can't explain in words
Very bold attempt sir. Thank you
Super 🎉
The system is totally corrupt including judicial, it’s difficult to improve
Learning , dont maintain bank balance
Being a crorepathi you do not want to pay tax. You need everything free....you are richer and but your mindset still like a....
100% true
In Tamilnadu, for 1.2 Crore women every month 1000 Rupees free, For all Women transport is free, For all farmers Electricity is free, For all Children transport is free, For all houses minimum current is free, For every election each house will get minimum 5000 Rupees free like that so many free schemes available. For all the above schemes how government is getting money? Through our Tax money only. First try to ask question against the so called corrupted politicians. Then sit and give lecture about Tax system.
Searching for andh bhakths
Exactly sir...
Well said ✅✅✅✅✅
I haven't experienced the stories Sundar Sir mentioned in the video. But then what is it about Vivaad se Vishwas that the Finance minster talks about in the Budget speech
How and when this system can be changed and when we will feel happy about what we pay
Very brave expression against income tax dept salute u boss