How India can be Tax Free like Dubai | Explanatory Video by CA Sahil Jain
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- เผยแพร่เมื่อ 28 ก.ย. 2024
- In this video, I've discussed what all Indian Govt. can do to reduce the taxes drastically in Indian Economy.
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I hope this example helps broaden your perspective on what all we can do as a country to reduce the burden of taxes that its citizens are having to bear. This is just the tip of the iceberg. A lot of amendments can be made in capital gains taxation as well to ensure that the burden of tax on middle and lower class in India gets reduced radically. I will touch upon all these recommendations in some other video.
Happy learning! ♥
@TaxationWithCASahilJain
#Health_Insurance_Please
Par full video batao sir ji
1) Claim reject
2) Claim partial reject
3) different types of terms and conditions
4) type of health insurance
5) type of clauses in health insurance
6) biggest reason for एक आम व्यक्ति का गरीबी रेखा से नीचे आने का। उस की जिवन की कमाई इलाज में लगने का।
#Sir_ji_Please
Sir ji India 1 easa country hy jo ki soil rich hy or yha pe kisi bhi chij ka agriculture bahut ho skta hy to gov. in sabbi goods ko heavy amount or high income me export kr skti hy.
Tax agar collect krna hy to school or college walo se bhi kia jaa skta hy jo ham jaise students ko hi lut ke baithe hy.
Sir payday chalan me loophole h . that ... Owner toh bol skta h ki gaadi driver chala rha h toh uska payday amount ka chalan banao ... Aur even if owner pe lagana h toh iska proof kaise milega ki owner ka payday amount kitna h ..?
Please share this video with top officials of India who don't have idea of the same
What if a person is not earning anything but still jumping signals?
Sahil wants to modify his car but he couldn't !!😂😂
pls show little respect
CA sahil Jain bol Bhai
Hii Bhai plz reply 😢
Sahil sir
Bro give respect
another way:
agar sadak banani hai...
aur pani ka pipe bhi sadak me daalna hai...
to sadak banane ke baad tod ke pipe daalne se badhiya hai ki pipe daalne ke baad sadak banaye....
The concept of pay day fine would be practically difficult for authorities as people in India don't even file their their return
There should be a lower limit like ₹2000 who donot file ITR. If they show the ITR than only they can pay using pay day income.
It will also motivate people to file ITR :)
Ye fine ka scheme bahot achha hai but agar ye fine laya gaya ya fir kosis kiya gaya to hamare desh ki dirty politics chalu hogi or pure desk ka situation ko kharab karne ki kosis ki jayegi
Is schene ke baare me afwah faila faila ke
Itr is not the only way... government has tonnes of ways to know someone's Income.. IT department can simply create an app for traffic police dept
Though I am not from finance background, I like watching your content on finance topics. The way you structure your content is commendable. You know thr skill to captivate your audience. Thank You for all the awesome videos. Cheers!
Why You didn't mention or talk about the Most Important Tax Revenue for Government and that is
WEALTH TAX, INHERITANCE TAX,
which is applicable in Most Of the Developed countries.
nahi lagna chaiye
Completely agree on what you said about modifications of car for eg. colour, number plate.
But sir, I completely disagree for the concept of payday fines especially in a developing country like India coz of the 2 significant reasons:
1. Generally, on traffic signals, no traffic police registers a challan, they just take the money in black for jumping the signal.
2. Only 3.5% people file their ITR's in India, so it is not feasible for Government to check their annual income in each and every case.
True, but for those who are not declaring any income, a minimum penalty of any amount, say Rs. 2,000, can be kept. The concept of payday fines is for the ultra rich only to make penalties impactful on them. Payday fines which are computed as a percentage of their income/wealth can be imposed.
Sir ap desh ke finance minister bn jao abhi wali ko to bs bahane dene atte hai ap desh me FDI leke ana or manufacturing ko boost krna 🙌🙌❤️
Sir, the video was informative but could have been illustrated in a more concise way. I feel you could have easily trimmed it down to 10 mins.
PS : This is the feeling of a CA Final Student who has exams in May 23 but can't skip Sahil Sir's videos :)
Watch in 2x speed, 7 mins mein dekh logay!👀
@@sejaljain7145 I completely accept your point of view but my take was on the conciseness of the video not the length per se. (I have watched it at 2x).
@@sejaljain7145 we have already lost the ability to watch at normal speed 🙂
Even I agree with your first suggestion but in case of pay day fines I don't agree because in India only 6.77 crore ITR (FY-2022-23) was filed so pay day fines according to me is also not effective. So what we can do is rather than charging fine of one pay day we can use one formula that the fine will be Rs 2000 or one pay day whichever is higher shall be the fine. In this way we can cover the population even if a person doesn't file ITR.
Yes sir theses low should be implemented in our country for development. And growth of economics
Very informative video sir,
But I have few doubts:-
1. As you mentioned the Ideal process of changing the car colour, But sir as per my knowledge, this is the actual process for changing the colour of the car.
2. Payday fines are good techniques for govt. to earn revenues but this might be possible only in Developed countries. As in India, only 6-6.5% residents are filing ITRs that will lead to zero taxes for people showing their Net income as NIL.
Thanks for the constructive feedback Harsh
1) That is indeed the actual process but unfortunately, this is not applicable in all states. A lot of states completely prohibit any modification. Also, even in the states which allow modification, the rules are so stringent that you will barely find people getting their choice of colour/wraps/vinyls on their car. Hence, if the process is actually simplified so as to allow people the harmless modifications that they seek, it can definitely bring in a good amount of revenue to the government.
2) True, but for those who are not declaring any income, a minimum penalty of any amount, say Rs. 2,000, can be kept. The concept of payday fines is for the ultra rich only to make penalties impactful on them. Payday fines which are computed as a percentage of their income/wealth can be imposed.
@@TaxationWithCASahilJain Got both points sir.
Both points discussed are State government revenue. But IT is Central government revenue collection ( of course, part of devolves to the States)
Amazing ideas 👏👏
You can be future finance minister sir 🥳😇😇🙏🙏
Sir:- Adani cases kon sahi hai ya kon galat hai
OR
Isme Hamar kya nuksaan hoga
Sir Adani Group pe vedio bnaoo.. plz..
Apko lagta h ki sarkar nhi sunti aisa nhi h koi bolne wala chahiye --👍👍👌👌sahi baat h sir very nice advice sir
Sir apki har ek video government ko send karni chahiye aur sarkaar ko dekhni chahiye taki in video se kuchh Idea mil sake government ko.
72k agar p.a income hoga to oo banda kaise car survive karega sir ???
Tax Exemption, Tax Deduction and Tax Rebate me difference h?🤔
In foreign car modification business are growing good..people are paying for this service.
Why not INDIA impose inherent wealth TAX for super RICH People (net worth over 10 cr )
Intersting In More Videos of gst scams
Union Budget 2023-24 pe video Laeye Sir ...🙏
Adani par video banao....
Great discussion sir ❤️❤️
the second point really made sense to me, but the first one was kind of disproportionate.
Sir why don't uh send this draft to GOI?
Sir, but other side of the coin is reduction or withdrawl of taxes by government will harm CA fraternity and tax experts as this is their profession.
Don't worry. We're an educated community. We know how to evolve and with that skillset, we won't run out of work.
With dedollarization happening the taxes will get reduced especially in Asia for sure
Ditching the dollar is the need of the hour
Sir please make your video in animation because it is very easy to understand in animation
ye toh bas 2 3 way hi huwa lekin eise bohot sare nikal ne padenge taki itna paisa collect ho ki tax kam kar paye
Pay day fine is impossible in India, because most of the people don't even pay taxes. Colour change, custom number plate looks promising. I thing if most people pay taxes then the individual tax will reduce substantially.
22L core is collected and 10lakh cores is used in the paying the people how don't even work ( just an example ). I think Privatisation is the answer with hard rule and regulations. People don't even send kinds to Government Schools ( reason teachers there don't even teach properly, poor infrastructure... )
If people take responsibility then I think nobody gonna complain about anything ( because a well oiled machine works with minimum losses)
I am gonna make a number plate like a password 😂 Ñßëœñæè
I don't think anyone can read it easily
btw thank you for thus unique concept sir 😊
Don't worry... If this thing really happens..
It will be set by some rule and regulations 😜
😂😂😂
Sir number plate wala idea i am not agree with you haa number simple hona cjahiye
Sir, But Payday implement karne ke lia logo ko apni income show karni hogi. Jo kbhi nahi hogi
India can take inspiration from other countries like "canada" my brother is in canda,like india there cars dont have no.plate there owner has no.plate ,owner can choose anything they want to write like my brother's no. Plate is "RAJPUT" so if he buys 4 cars every cars will have same no.plate"RAJPUT" and when goverment search his no. Plate in their data or if any one search his no.plate in app there all his r cars will show and if he commits any type of crime pedestrians or anyone nearby can easily identify what is written on no.plate and it will be easier for government to find the vechiel......
Disclaimer-I am not saying that Indian rules are not good i am just sharing my knowledge and opinion toward rules of India
Wow
Sir government company Sahi se kam kare to tax pay nahi Karna padega
Ex.transport, education, Aaj paise hai par service nahi milti
If Income tax is totally abolished in our country, a huge amount of black money will flout in Stock market and banking channels which would definitely boost our economy and GST collection will cover up need of IT
Pay day fine lagayenge toh black money aur bad jyega sab income kam show krenge
Just my opinion in country with such a massive population
People should be left with more disposable income which will lead to more spending and this way the govt should ge taxes from peoples spending like more part and less part from people's earning
Sir problem yeh hai ki agar Govt ko extra tax milega bhi toh woh bhi kha jayenge aur dakaar bhi nahi lenge
Lekin sir agar 18+ students se violation hota hai toh kya papa ki income par tax padega ?
Sir I agreed with your Payday Fines.
But sir it may increase corruption (Income for traffic police).
In case of a second person whose income is 700 cr As per Payday Fines he may charge 1.91 cr.
Whereas police will leave him within 20k.
Government will lose those 2K also.
should be fined on basis of car one is driving rather than payday fines
जिस तरह का भी क्राइम हो सजा के साथ जुरमाना भी लगाना चाहिए complsory, और जो ऑफिसर ने क्राइम सॉल्व किया है उसे reward देना चाहिए उस जुर्माने का at least 50% to increase his enthusiasm in his job and reduce corruption mentally
Waah amazing knowledge sir ❤️❤️
sir i cleared foundation i want to take your tax lecture but sir price thoda zyada hai little bit price kam ho shkta hai kya sir jayada nhi. plz sir humble request because the way you explain that is amazing and it creates more and more interest in Taxation
One other best way is to reduce government expenses , this will automatically enable the govt to reduce taxes
Very informative video 👍
Dr Subramanyam Swamy had proposed no income tax economy policy long before, you can tag him, share video plus invite him for a webinar on how practically its possible to implement
These are ways, yes but implementation is questionable! Substanial - NO! The biggest impact will be to tax farmers earning above 10L and adjust income tax slabs every 2-3 years according to inflation. Cut spending on social welfare schemes & appeasement.
7:05 Lord Puneet superstar supremacy 🛐🗿
If i gift 50000 to mother via online bank transfer, will i get gift tax exemption? If yes, where to show it in online ITR filing? Is it compulsory to issue gift deed?
Very insightful as always 🔥🔥
Politics and Vote are the main reason to not apply above subject mentioned in video
I think the color change thing is already happening 🤔
1000th like!!! Big fan of your videos..🫶
we have much more resources than dubai but we dont use it correctly
Proposed traffic fines will not work as long as traffic police keeps taking bribe
Wishful thinking for now... hopefully something happens on this..
Government should also legalize prostitution and collect high taxes on it. 😁😁😁
That was an excellent idea
Addictive to your video sir 🥰🥰🥰
I think that reducing costs (leaner government, less bureaucracy) and eliminating leakages (corruption at every level) will significantly reduce the tax burden. Your suggestions are in good faith but not practical because A. India is a trust deficit society (eg. Can you trust what a person says is his payday?) B. Lots of preferred treatment to political vote banks (eg. Reserved sections, farmers, etc) and C. Inefficient governance (grand plans but generally poor implementation on the ground)
Good Advice Sir.
Bhai policewala bolega 0.5% payday rishwat de do & nikal jaao
Bhaiya mujhe aap jaisa CA banna hai
Tax nahi Rahega to CA ka kam Khatam Ho sakta hai kya
Please replay my Question
Areyy bhai aaisa nahi hota hai dubai mein bhi CAs ki bohot demand hai
Firstly taxes kabhi nahi hatenge......secondly hat bhi gaye toh still there are many things for which we need CAs
Enlightening 🎯🎯
Awesome very informative 👌
🤟🤟 Super Video Sir
Sir RTO M koi kaam nhi krvaya shyd aapne😂🤣😂, mene 3 mahine pehle RC m Car ko CNG m update kraane ka apply kiya thaa abhi tk Nhi hua. Pehle state owned offices Central govt owned offices jese banane pdengey tb hi kuch hoga
Ashu wohi to point hai. If the process is simplified, people will actually start opting for modifications of their choice and that can bring in a good amount of revenue to government, thereby reducing their dependance on taxes.
:) u r greate one ...
Make him the Finance minister!
i miss "hanji good morning " sir
Sir i dont agree with your examples
Sir colour ka logic sahi hai pr number plate ka nhi😂
Imagine how could a traffic camera create a challan for 'sooryavanshi' written on number plate 😂
👍
Jin logo ki income Jada hogi ,vo log haste honge Sarkar pe jab 1000 ya 2000 Ka fine lagate honge tab , aur ise dete honge Jaise bhik dete hai...
Dubai is not very reliant on income from oil. What you've said is good but the govt will be unable to forcast its income YOY and will find it difficult to allocate its expenses. Govt can milk money from a salaried class constantly YOY will good estimation that cannot be said for changing car colour or number plate. As for payday fine, the person earning Rs 70,000 p.a or so doesn't file IT return making it practically difficult to asses the fine/penalty. And a person earning 700 crores will offer the entire police dept. of the locality a car rather than paying one days' income as fine. Also, such HNIs will never be comfortable sharing income details for privacy reasons. I would certainly say that you make excellent videos but this isn't one of them.
💥🔥
👍👍
Ap ne to tor diya sir.
Government ka totgaya.
sir kyu CA ka profession dhoke me lane ko tula ho apne chap lia ab hame bhi mauka do hann ? 😅
⚠️DUBAI chargs 5% tax since 2019
That's VAT, not Income Tax. I've mentioned that there's no Income Tax on Individuals in Dubai which is true even today.
Face-palm moment : Car color change is legally allowed in India.
Not really Hiteshwar. The car colour change process mentioned in the video is not applicable in all states. A lot of states completely prohibit any modification. Also, even in the states which allow modification, the process/rules are so stringent that you will barely find people getting their choice of colour/wraps/vinyls on their car. Hence, if the process is actually simplified so as to allow people the harmless modifications that they seek, it can definitely bring in a good amount of revenue to the government.
Itna farzi , aap nayo gadi Lelona
Madom se na ho payega
1st view
Acha jiska income 700 cr hai annually wo 2cr k aspas fine kyun bharega ? Wo wanha ki traffic police 🚓 ki pura ka pura manadli ko 1/1 lakh na de de...pushpa bhau ki tarha...
Not every fine is levied manually. There are automatic challans like the speeding challans levied by machines. Cannot evade those.
@@TaxationWithCASahilJainautomatic fine can be cancelled by paying heavy bribe at office
I really used to like the content of your videos. But this time the content is immature. Majorly all the points you mentioned is not practically applicable in a country with billion of population... Our population always find the loopholes..
Neta paisa kha jate hai🤬🤬🤬🤬
Sir, the ideas which you have put forward looks very promising on paper, but could be a great challenge in a country like India given that how the government department (here RTO) works. Also, you mentioned a statement 'ideally if there is no corruption' which in itself defeats the purpose of such ideas.
For instance, if we take the example of the number plates, if we leave it on the creativity of the people, you know how they are gonna misuse it in the name of creativity. Also, if we consider a fixed area of a number plate, then for proper visibility of the text, the no. of characters on that plate would be fixed which would then exhaust the choices of the selection of words that have a meaning. And if they go beyond certain characters then the fonts would get smaller in that fixed area of the plate, which again would not serve the purpose. :)
Also, I think in order to deal with such a large population, standards should be maintained, so that it's easier to operate. :)
Exactly, any wealthy person would easily give bribe to RTO instead of giving his huge one day pay check, but the idea behind the alternate revenue stream for government is nice, there could be some possible ways which can be implemented a bit easily without any or relatively less corruption/misuse factor.
Finance minister be like:-
Pehle kyun nhi mile aap kaha they itte samay se😂🔥!
Yes we need more of such voicing against taxation in India
Sir is One gst rate is possible..? Can it curb the Inflation. And pls make video on 2023 Financial planning..
This video should be reached to government.....
So that they came to know these amazing ideas given by the amazing personality.....
👍 break time 5.50
Revise krle bhaii sir ques shuru krne vale h😂