Why Ashneer Grover's Tax Advice may cause more Damage than Good!
ฝัง
- เผยแพร่เมื่อ 27 มิ.ย. 2023
- In this video, I've discussed some of the tax suggestions made by Mr. Ashneer Grover and have demonstrated by way of a case study why those suggestions are very less likely to be implemented.
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Some other clarifications for those who wish to dive deeper into this discussion:-
1) I myself pay more than 50% of my revenues in taxes (Income Tax & GST) to the government but I feel that I do have the capacity to pay that and I owe that payment to the government. True that I'd feel much better if the money is utilised by government in a better way but I will not go as far as saying that just because I am not using government hospital or government school, I am "not getting anything from the government".
2) Even if you ignore Mr. Grover's proposal of removing slabs in Income Tax, just reducing the highest tax rate for HNIs from 40% to 20% can possibly be hugely detrimental. In India, income disparity is so huge that it is mostly the top 5% people of the country who are earning majority of income and they have already explored all possible ways to reduce their taxable income by attributing it to countries outside India. If the tax rate on these HNIs is reduced from 40% to 20%, the income tax collections can reduce drastically, so much so, that even some middle class people who stop doing tax evasion by seeing lower tax rates may not be able to cover up for the loss due to lower tax collection from HNIs. As a result, to make up for the losses in Income Tax, the government will have to increase Indirect Taxes which are inherently harsher on poor people due to their regressive nature.
3) I also believe that taxes should be drastically reduced but the way to do that as proposed by Mr. Grover is something that I am not in agreement with as explained in the video and this comment as well.
What I believe is that the government should try to make its PSU's profitable, end Corruption and also, find alternate means of raising revenue (like Payday Fines). If all of this happens, the dependence of Indian Government over taxes will automatically reduce and resultantly, the tax rates too shall go down.
Happy Learning ❤
By this logic, the govt also should not levy GST on these poor people, they will be able to save even more and can improve their lifestyle
Agree with some of your points. But you have taken an extreme view(1000 Cr vs 1.2 lac) but have not considered the salaried class. Most salaried class pay 30% tax rates but don't get anything. They don't go to government hospitals/schools which is given in western countries like Australia. They pay Insurance and hospital bills and pay very high GST - so when government can't support basic needs they charge on top of private consumption. The entrepreneurs and HNI class has optionality to leave India and if they face such Tax terrorism who will pay the taxes? Babus don't catch people who don't pay taxes(Politicians/Babus/Government Contractors etc.), they allow all types of tax deductions to businessmen but nothing for employee class. Also government has huge leakage - the nexus of politicians/babus/government contracotrs has 90% + leakage in some cases. Will you be happy taxpayer when you know most of your money is being spent by babus/politicians/government contractors in black for high end prostitution and resorts. How do you see taxation moving in next 15 yrs - will this tax terrorism and tax wastage continue? What happens if the creme layer moves out of frustration? How will India manage its finances?
@@6Super6Satan6 I'm the last person to be defending any government or political party. I criticise or praise actions and not the party which has done it.
@@naveenyadav48 If you know the mechanism with which Indirect Taxes are levied, you'd know that it is practically impossible to do differential taxing by considering income. That's what I am telling you in the video as well. Direct Taxes are supposed to factor in the Income which Indirect Taxes cannot.
Totally disagree with you in this video only... Because ashneer is talking for business person and you are comparing business person with salary person..... Ashneer is talking for only business person
Ashneer's father who is a CA be like:-
Saanp ko paal raha tha!!! 😂😂😂
Practice main nahi hoga
😂😂😂😂
I thought they both were doctors
Same thought 🤣🤣
🤣🤣🤣
Ashneer Grover is perfect example of "Confidence me bol do log sahi samjhenge"
😂
😂🤝🫡
🤣🤣
Isi liye tu ye no cence wale bande ne billion dollars company khada kar diya tha .....😂😂😂....CA walo ka Naukri khatre main hoga isi liye baat galat hain 😂😂😂😂
Na sahe bola hai
When you find nearly all sharks had a CA in their life
Knowledge of CA is impeccable
Peyush Bansal's father is a CA
Ashneer Grover's father is a CA
Namita Thapar is a CA
Aman Gupta is a CA
Are these all true ?
@@Boutionyes it’s true
Itna Sara ca hote hue sabhi company doob raho hai except cure
@@osamaobama1574abe Birla bhi CA hai uski toh chalri hai company..ye to influencer log h inko show chalane se fursat mile toh company chalae 😂
@@osamaobama1574 Bhai boat bhi achi hi chal rhi Hai bs vo Gupta ka thoda marketing zyada hai aur thoda attitude bhi dikhta hai kahibaar
Being an economist myself i figured this out in my head only through one answer which is Wealth Inequality. You explained in briefly and in detail so i thank you for that i was thinking the same thing. For example one european country was recently in economic trouble because they removed tax slab on natural gas or something i dont remember but it caused great distress to the middle class and lower middle class because they simply cannot afford to pay as much. Grover just wants money for himself and spoke without thinking. Its only Dhanda, profit and revenue, he wont get how govt works.
Akhsay Kumar pays more tax than Mukesh Ambani.
@@ankansenapati3600Reliance kitna corporate tax deta hai pata bhi hai gawaar
The difference between real financial knowledge and influencer waala gyaan........can be felt in this video 😂
Neither I will go with a businessman nor with this CA , I will go with economists because they are more intelligent than these 2 guys
Actually ashneer speaks against CAs and I don't even listen ashneer grover.
That influencer has created billion dollar company and Thousand job what real finance knowledge has given..?
@@tiger-wt8dmon't forget to mention how many law suits are filled against him. And the co. You are talking about is also saying he was doing fraud and already filled a law suit against him. Nobody will be shocked if he gets behind the bars soons.
@@tiger-wt8dm if this man can handel all work himself than what he can provide jobs ??
@@tiger-wt8dm with your logic.....if a famous singer gives advice of indias foreign policy then it is correct since he is a renouned person
Intelligent people criticise with facts and study... ❤
“facts and figures” would be appropriate phrase
@@AkashSingh-uk5ubyup
@@AkashSingh-uk5ub Facts and data will be appropriate 😂
@@AkashSingh-uk5ubfacts + baat ko bevajah lamba karna + full dialoguebazzi will be great
@@freedom4813 dialoguebaazi ashneer ne kara.....sir ne proper fcts aur reasoning ke basis pe baatien kari
While the point raised by Ashneer regarding a single, flat tax rate for all is absolutely incorrect and rightly refuted by you, I agree with another point Ashneer raised in that same session only, where he said that “tax is punitive in India”.
We pay high rates of taxes going up to 40%, yet we get very little in return from the govt. Look around you, would you get yourself treated from a govt. hospital or a private one? Would you put your children in a govt. school for education or a private one? Are you satisfied with the condition of the roads around you?
North India people, are you happy with the flooding situation on our roads in the rainy season every single year?
Taxes should be utilised for the betterment of these things. And this is our hard-earned money that the govt. is taking from us, in order to promise us better healthcare, education and infrastructure. We should ask where all of this money is going.
But we rarely do. And that’s where Ashneer was right that “tax is a punishment in India”, because indeed we get very little to nothing in return.
And in this video there is only comparison of a top business man and individual who is fully exempted from tax .But the main issue with the corporate employee who comes under 30% tax slab rates who are middle class persons who are paying high tax but not getting any benefit whose CTC is high but in hand salary is very low they always try to save their income from such radiculus tax system.
I dont completely agree with your example you did not gave an example of an actual middle class guy who makes 8-12 lakhs p.a.
Chutiye 8 lakh jo kamata he bo middle class ni hota he
8-12 lakh ko tax free kiya ja sakta ha kuch deductions milti ha CA bta dega vo tho
That's what we call a ' constructive criticism '
Right
So sir is eligible for operational audit.
Looking at Ashneer's statement I feel he is one of those guy who says " Agar koi desh gareeb hai toh zyada note print karke Ameer kyun nahi ban jaati ? "
Bhai tum CA lag rahe ho😂 usne theek bola hai... industries and capitalists ko punish karke progress nahi ho sakti...agar hamari govt 40% tax leti hai to what do you get in return?
In other parts of world if govt charges40% tax then they offer highest quality living,healthcare, safety,security to their citizens.
In India 40% tax is a loot
@@kingslayer0204 Corruption naam ki bhi cheez hoti hai bhai
@@gyanendrakami486 bhai reason kuch bhi de sakte ho tum.. corruption hi maan lo...agar politician corruption kar rahe hain to citizen unke corruption ke liye 40% tax kyo de apni mehnat ki kamai. Se bolo bhai
@@gyanendrakami486CA helps businesses to evade taxes. And ashneer has more money than your whole khandan.
@@ankansenapati3600 So what are you trying to convey? Mukesh Ambani has more money than Ashneer's whole khaandaan🤣🙏
This probably is not the right place, but i would like to thank you sir, i purchased classes from you for DT and IDT and was able to pass my attempt. You are one of the most underrated teacher in the entire faternity. Thank you.
People wont even vote the current govt if they apply ashneers logic 😂
But yes , Taxpayers dont pay tax but do CHARITY
Problem is taxpayers expect tax to be their individual benefit, while tax is actually meant for nation's benefit as a whole. The capex boom, heavy spending on infrastructure is from taxpayers money only. People sometimes need to analyse things beyond themselves
@@xyz-i5l As he said , taxpayers dont really trust the Govt , There is not much transparency , recently 1700cr bridge in bihar was a complete waste of Tax . In mumbai also Metro was delayed and cost was almost doubled by previous govt
Dude its not just CHARITY as u mentioned
It also includes Defence Sports Infrastructure
Out of which majority of them are used by either Hi class or upper mid class just take example of infra projects i don't see a guy with low income roaming on the STREETS ..their lifestyle doesn't include much of these benefits
Yup i know they use medical and educational sector but Infra projects are faaaar more costly
In short the taxes we mid class or hier class guys pay is mostly returned to us and a small amount of it being used as a CHARITY
@@detonatorop887 Nope , problem is that I personally do not trust anyone , like in mumbai BMC there’s corruption on 10000s crores
Bhai please jisko jisko lagta hain ki Bharat main tax pay karna matlab charity karna, kaahi aur desh main jaa kar reh le jin desh ka taxes unhe kaam lagta hain....mera ek jaan pehchan wala Dubai main hain; no tax there, they say jo haam yaha Bharat main wifi 400-500 detey hain monthly woh 12k hain monthly... aur toh aur waha pe kuch garbar hota hain toh inspect karne k liye bande aayenge likin 5k-6k lenge....ye sirf ek hi bola main baas....hamare yaha log cheez k daam barne pe usse consume karna kaam kar detey hain waha pe same condition pe log income bara detey hsin dusra income source add kar k, fir bhi lagta hain Bharat main Tax zyada hain...r a desh kaise chalega fir, sab agar sirf apni hi sochenge aur apna potential limited rakh k rehenge.....bharat main middle class matlab max. 45k income in a year wala log jo hain sirf 5%...unse bhi kaam saalana income hain Bharat main most logo ka, reffered as Low income people....bhai aur bhi kitna facts hain....World k sabse bada democracy run karna koi aam baat nhi jaha log saukh se limited rehna chate hain
That's difference between Influencers and a intellectual and practical person
Toh aur suno influencers ki
Dear Sahil Jain, I am not a big fan of Ashreer because he thinks he is an expert on everything but here he was right about what he said on tax....because he was talking about business personality and entity only.... I think you did not listen to him correctly!!!!! he did not say about government schemes that allow small businesses to be exempt from taxes! HE WAS VERY RIGHT!!!
thaanku so much sir for providing such a valuable knowledge.... i am a CA intermediate student and just felt that its worthy to pursuing CA
Ashneer Bhai tried to sound cool talking about elasticity of demand but forgot about the existence of economic concepts such as propensity to consume, redistribution of income, reducing personal disposable income gap etc.
Bro, only studied micro economics 😂
Par wo to IIT-D IIM-A vala hai bro 🤡💀
@@The__Leo69par usko politician bhi toh banna hai bro 💀🤡 jiske liye woh impractical cheeze bolke tum jaise logo ko hopes bech raha hai bro 💀🤡
@@The__Leo69iim sirf finance sikha rha hai economics gayab hogayi hai
@@kaustubhraizada Nahi usne aise hi naam ke lie iim me Gaya lectures attend Nahi kie Hoge 😂
IIM bhi kahega ki meri Nak katvadi tune la vapis la ye degree tere Kisi kamki Nahi ye 😂😂
sir kuch log 3company aur sark tank me jake apne aap ko taxation ka papa manne lagte he 😂
Ye toh hai 😂
@@abhishekbhardwaj143 sahi jabab 10 crore
Yeh yo galat bole tum bhai Ashneer is GEM 💎
@@hogakoiuser hn bhai me mana nhi kar rha hu achen hai wo lekin har jagha chij pe koi master nhi hota hai na to sabdon ka sahi tarah se prayog karna chahiye bass ye bata rha hu
@@hogakoiuser Bhai usne tereko job Diya ya paisa Jo itna taarif Kar Raha hai 🤔 . Tum log kisiko bhi bhagwan Bana dete ho 🤦
Grover is absolutly right ,simplicity is best policy ,baaki sab drama hai
I think the main issue here is not just high taxation rates, but tax disparity between salaried and business people. A salaried individual just surviving by with 12lpa will fall into the highest income category of 30%, but a business person earning 12lpa will pay zero tax.
Criticism backed by intelligence as a well-reasoned analysis substantiated by factual data and a meticulous study of the subject.❤
But i didn't understand one thing that why the 1.2 lac guy has to give his 80% as GDP
I mean he is basically getting nothing of his income
How will he survive in just 24000
@@intrusivethoughts406 if they are not living in bangalore or any high gdp states , most of the people will not be earning in lakhs per month so as a result thier savings will also significantly decrease from 24000
I am a science student still understand the basics of taxation. Why these so called intelligent people like Mr. Grover don't understand about these basic terms of putting slab system in taxation? Are they really unaware or they are just misleading. 🙄
IIT IIM graduate hai. hawaa me baat nahi kar raha
@@karanjain5728ha to jo claim Kar rha hai usse backup karne ke liye kuch evidence bhi to de
As an entrepreneur he is expert
@@karanjain5728aate nhi krta vesi
In ancient Era.. jo gyani hote the vo celebrity bante the.. lekin Abh jo celebrity h jo gyani ban rha h😅😅
Being a ca student I just can laugh on his statement, basically in this era , people need something different, and that's why these guys speak like that, so that their followers may get increased. Or if he was ignorant of tax system. So he should not comment. One thing to notice our political leaders may be corrupt but policy makers are really expert since our independence, since independence all the core policies were successful, and still successful
The one who suffers the most is middle class salaried tax-payer who earn 0.5 to 4 Lacs/month and don't even get a 'Mauka' for evasion!😢 On top of it, this is the middle class who gets least benefits from all govt. schemes. Also, Over-complication and punitive collection of GST also not justifiable with the claim to de-incentivise the so called 'bad' things like cigarette/alcohol especially when government is not taking any responsibility of the consumer of this product who gives you those taxes. Government should be perceived as a service provider and not a parent/legal guardian. This entire taxation system can be described in nut-shell as 'American taxes with african facilities' which is a sad reality!
Elasticity of chori : Change in tax rates indirectly proportional to taxes collected
SIR ASHNEER GROVER should write a thesis on this and submit it to some University. Top 1% owns 40% of wealth in India. Also top 1%'s average annual income is 16 lakhs rupees, imagine the disparity between top 1% of that 1% cause this is the same country that has 169 billionaires.
Worst part being i did see a few people in the comments section of the actual video which stated "like if you want Ashneer to be our next PM of India"🤣🤣 and it had ample amount of likes on that comment, all in all these guys really lack the basic financial knowledge!
This video shows majour difference between Science and commerce student. DIFFERENCE BETWEEN BUSINESS MAN AND CA
Yes the difference is we worked hard, got into premier institutes, whereas you guys didn't lol.
We will get placed at good companies, and live a life of less struggle and more luxury.
We are engineers, no matter which exam we give, phodke aate hai.
Apart from that Ashneer is IIT Delhi + IIM Ahmedebad, bulit a 3 Billion company, so knowledge, finance, economics, ye sab ki gyaan usko itni hai ki, believe me since he had come to our college for podcast, so I know he is a genius.
The tax thing wherein he said "double hojaega when we reduce slab", its true there have been multiple research papers by institutes like Harvard, MIT, even top IIM's, so its true, its just that we youtube viewers are not smart enough to understand Ashneer's knowledge and view.
@@PiyushContesticai Is more premier that even top iits...stop comparing u unemployed mf
@@PiyushContest mere bhai 80% EMPLOYABLE hinhi hai INDIA meh.. 80% 🤣🤣🤣🤣🤣. SIRF 5% ENGINEERS KO ACHI PACKAGE MILTI HAI LUXURIOUS WALI.. 😂😂.. 45-50% TOH EMPLOYED HI REH JATE HAI BICHARE.. FIR WOH GOVERNMENT EXAM KI PREPARATION KRTE HAI JISKA SELECTION RATE LESS THAN 1% REHTA HAI🤣🤣🤣🤣
@@PiyushContesttum engineers waale itna bade chutiye hai aaj pta chla
@@PiyushContest konse bubble me reh rha hai more than 80% engineers toh employable hi nahi hai
Jabki CAs ki unemployment rate close to 5% bhi nahi hai😂😂
Gaye woh din jab engineer used to be called as a Premium job
CS walo ka job AI kha rha hai
Mechanical walo ka job less productive hone ki wajah se ja rha hai
So the only option which remains is IIM and end up doing commerce related jobs
“we are engineers sab phod ke aate hai” wou toh dikh hi gya jab bihaar aur eastern states ke engineers ne aadha infrastructure phod dala fraud kar kar ke
Main problem is corruption people in comment section fighting for 20% or 40% take tax at 40% only give better hospital system like uk and other country and include other thing also like education,reach and development,think to grow individual income so we can get litreally one of the highest tax collection in world let people know where their money is being spend insted of purchasing media
What a content ..❤
I hope someday he will be a sensible person.
sir honestly writing that after watching ashneer's comment i was eagerly waiting for your vedio mtlb iss desh me kuchh bhi hota everyone thing ki bhai vo kitna smart hai and people blindly start following to him with out realizing that us se unko benefit ho raha hai but i am fortunate that i am in this prestigious CA course and have the people like you
I think I disagree with you mate. At 9:21 , you take into account a tax of 20% on the person B with Income 1.2 Lakhs. What can be done is reducing the non taxable income slab base and have a set tax rate of 20- 25% instead of the exemption of tax for those with income 7Lpa and Below. I don't think Ashneer meant that the person with such low incomes should have to pay a tax of 20%. I think what his meant was that the non taxable base within the 5 lpa and 7 Lpa was so huge that the Govt would make much more money levying a nominal tax than fleecing the salaried class.... Open to correction and criticism. I understand that 20% may be too much on an income of 5 Lpa but there can be an agreeable tax rate
Same❤
Bhai aaj ke time mai saal ka 6 lakh kamala kya Hota Hai...50 k month for a family is nothing in this world for good life
@@modiji268then don't live a good life. Why should we subsidise your good life?
@@modiji268 I get what you're saying mate. But this is my thinking. Feel free to criticise me. What happens is with the untaxed class of India is that they are under the leverage of political parties and these parties get away scot free by not improving government services like transport, healthcare and infrastructure and education. If you pay tax, we have leverage over the government irrespective of political parties. The tax paying class in India is very small because of which Govts keep playing football with them.
This is what I feel. Feel free to correct me. Like I said, we can reach an agreeable tax rate
Ditto. Ashneer used 20% as an example. And by doing so these so called billionaire will not hide their money as well.
So what Ashneer is suggesting is quite a bold step but it may be beneficial.
Insightful video Sir.
Ur explanation with facts motivates me to enlighten myself
Apne ashneer ki baat nahi samaji ache se woh bol Raha hai sabko same tax pay karna hai including joh 1 ya 2 lakh saal ka kama Raha hai . Koi bhi exemption nhi lagana hai kisi pe bhi chaye woh 2 lakh saal ka kamaye yaa 2 crore sabko same tax Dena parega. Same jaise 2 crore kamane wala 18% GST Barta waise hi 2 lakh kamane wala bhi 18% GST Barta hai samje CA sahab. Jabhi dono GST same pay kar rahe hai toh tax bhi same hona chahiye
You have set an example between rich class and poor class, what about middle class.
Taxes in India are punitive for middle class, that's my point
Most CAs are helping businesses to evade taxes ashneer is right this time.
If you own a business , you will understand what it is like to give around 40% of your hard earned money , tax planning is essential for increasing disposal income and investing back in business
@@hey_there1234wahi na bhai sahi to bola us ne desh businessman hi chala raha hai
Sir waiting for Ashneer's response so that you can thrash again😅
Why doesn't our government have people like you
Bro there are a lot, that's why our country is growing, its just that sir should also be on that place.
Arey Bhai. Talented logo ki Kami nahi hai lekin talented logo ko samjhne wale samjhdar logo ki kami hai. Warna Lalu, Mulayam, Akalless, Sharad Fawar jaise netao ko log chunte nahi. Add to it padha likha harami Farziwal. 😂😂
Sir, you are amazing ❤
Your explanation is too brutal, yet classy 😊
On point sahil sir ♥️.
Beautifully described sir, also he mentioned that there is no requirement of CAs, but CAs are required especially for big firm and organisation also for government, yes common people have option for appointing CAs.
Uska baap CA hai 😂😂😂
My Interest in taxation is increasing day by day and this case study increased it more. ❤️This was the most brilliant constructive criticism I've ever seen .
I hope Mr Ashneer Grover watches this video and he increases his Hawa Bazi wla tax knowledge 😂
What about those people whor are paying 5-6 lakhs as a salaried class? They did not receive any fecilities from government in spite of paying 30 percent tax.
😂😂😂😂😂
Apne ashneer ki baat nahi samaji ache se woh bol Raha hai sabko same tax pay karna hai including joh 1 ya 2 lakh saal ka kama Raha hai . Koi bhi exemption nhi lagana hai kisi pe bhi chaye woh 2 lakh saal ka kamaye yaa 2 crore sabko same tax Dena parega. Same jaise 2 crore kamane wala 18% GST Barta waise hi 2 lakh kamane wala bhi 18% GST Barta hai samje CA sahab. Jabhi dono GST same pay kar rahe hai toh tax bhi same hona chahiye
@@chinmoysamanta2691 30% tax on 5-6 lakhs earning? Dude u need A Tax Class to understand the slab. If u earn upto 5 lakh, ur tax will be 0. Even after 5 lakhs, u can get deductions. My dad is in Central Govt Job(BSF) as Sub Inspector. His annual salary currently is around 12 Lakhs & he paid 106000 as tax last year i.e less than 10%. If you can't do tax planning properly thn it's ur fault.
@HemanthKumar-hu9sc I think you have not read the comments properly or you do not know anything about tax system. I want to say that I am paying 5-6 lakh as income tax as I come under 30 percent slab . Every year 5 lakh is deteucted from my salary.
I need MBA for running my business...
But CA to teach them
How to run business!!! 💯
But sir with due respect, government is majorly focusing upon only those people who are not payinga taxes, all schemes are mostly for those people. And thats the major reason India is 2nd on list of HNI leaving their native countries
That's what a nation does ! Always protecting the week
Equality has to be balanced by fairness.. government has to do this to minimize income disparity
Definitely i still agree with ashneer's opinion.
Income tax should be equal for all individual natural persons. That would be more beneficial.
@@hossain_nemo😂😂भाई spelling, weak के चक्कर में ही हिन्दुस्तान कंगाल हो गया है
@@aafaqueandro❤❤but income above 5 or 6 lacs and 15 percent instead of 20 percent
DEFINITELY some Value addition to my knowledge. THANKS SIR
Do make more videos like this.
Sahil very cleverly compared the poorest business man to a big corporate's profit. I agree taxes shouldn't be same for everyone however, 40% is punitive. 25% should be the maximum taxation for any slab. Focus shouldn't be on squeezing the corporates and salaried class because that's the back bone of a country's growth. I'm salaried at 30LPA falling under 30% tax slab. Sarpanch of my village has 100 acres of agricultural land, makes 10cr in profit each year and pays 0% tax. How fair is that Mr. Sahil.
Absolutely bogus comparison.
00:49 He and his wife is accused of embezzling company funds to pay for personal expenses, including rent, plane tickets, and skincare products of more than 80 crore. This involves his other family members too. Then in this way he is also a 'CHOR'.
Ashneer be like aaj naya gaanja liya hai mast zehar uglunga 🤣🤣🤣 40 percent hoga to chori karunga
20 percent to kyu hi karunga
Are Bhai apne CA ko badalne ko bolo ise 🤣🤣Tax planning kese karte hai kese karna hai pata hi nahi kya
Very well explained sir.Thank you so much
He means to say that when a income comes under tax rates then take flat 20% rather than any slabs. BEL still can be followed.
Always! You are the best taxation teacher I've ever seen.❤
Thanks a lot for this video. Really was so weirded out when I watched it and being CA student it was torture 😅
but the question is those people who earn hundreds of crores do they even pay any tax? or they just find loopholes to avoid taxation?
i am a science student graduate still understood this problem immediately after listening to him. Dont know why smart guy like him dont understand this simple logic. may be he is from priviledge background from childhood where his struggles were travelling through airplanes and not through expresses.
he is not smart guy he is a lucky guy whose idea become succesful thats it
He is not remotely as smart as he thinks or his fans think he is, Bharat Pay hasn't made a single rupee in profit till now wonder how people think that this guy is a business shark.
Perfectly briefed about concept you make us understood in very first lecture that " DIRECT TAXES ARE PROGRESSIVE IN NATURE" . Feel so blessed to be your student, Thanks a lot for revising concept so nicely.
Apne ashneer ki baat nahi samaji ache se woh bol Raha hai sabko same tax pay karna hai including joh 1 ya 2 lakh saal ka kama Raha hai . Koi bhi exemption nhi lagana hai kisi pe bhi chaye woh 2 lakh saal ka kamaye yaa 2 crore sabko same tax Dena parega. Same jaise 2 crore kamane wala 18% GST Barta waise hi 2 lakh kamane wala bhi 18% GST Barta hai samje CA sahab. Jabhi dono GST same pay kar rahe hai toh tax bhi same hona chahiye
After seeing that ashneer's clip
My first reaction was:- Aap kaha the gyani baba🙏😂
This is called equality in equal circumstances
Great Sir Very Well Explained. I Hope ye Video Mr. Aslil Grover Ke pass Pahuch Jaye😁😁 . You are Awesome in explaning things.
I never watch any Taxation related case study over TH-cam except of Sahil Jain sir because of his unique teaching style and deep explanation ❤
Sir i agree with you....although this might sound dumb from my end with no finance background ...my question is cant you balance the 20% version with GST tweaks and exemptions...??
Nice one 👏 I saw your video for the first time and loved your content. Keep it up 👍👍
I love your communication skill always.
You always use words carefully ✨
Apart from elasticity of demand there is also a concept of
1. Income inequality
2.Green GNP
3.not to promote hazardous components like tobaco , gutkah
4. Overall in such scenerio for MSME s will be hard to compte with foriegn big company .
You are absolutely right sir
Ashneer grover is 100 percent right.
Tax net should be wider covering majority of population rather than deeper covering minimum of people.
It is already wide, problem is many people are not giving correct information.
I agree with what you've shared sir.
At the same time, from the point of a business man, money saved from taxes is also money which can be invested. This is a major reason for growing businessmen, rich but not ultra wealthy yet, to conceal income and evade tax; and to move onto tax havens to fuel money towards their own businesses.
Control various businesses in India, pay lesser taxes, enjoy a richer and safer lifestyle in other countries. This is an easy win; minus the patriotism.
Tax rates will be continually be a complex problem and there is no clear cut solution to it, but I sincerely hope the govt. brings out better policies which improves the people's trust in the system.
Hi Sahil Jain, you are a bookish guy, billion dollars is in Minister's pocket, and you talk policy, maximum ministers are corrupted, in India, CBI recovers 50 Cr from many ministers' homes, and huge property is captured, where is your law, and income tax department, you guys are read and speak books, do you know Singapore tax rates? study on it, Ashneer is IIT and IIM, his points are 10000% correct, so please shut up your criticism. can you give the answer???????? you can't man, every year people withdraw Indian citizenship why??????? 1st learn to speak, Indian Tax system is 3rd grade worst tax system in the world, all bullshit, don't try to justify it, sit with me across the table, and you will forget the Economy, why soldiers' salaries and pension is taxable?????? why ministers' salaries and pensions are not taxable? do you think they serve a better way than a soldier? someone becomes MLA and MP, and gets a double pension, without tax???????? answer me????????? Sahil Jain, answer me, and justify this.......useless video
I get exactly what you are saying, 💯 true, the only thing we are lacking is increasing the tax base as all those AGRICULTURIST TAGS are being used as tax evasion methods.
well put explanation, another interesting point which could have been discussed is that the tax paid by a salaried vs a businessman. Lets say both earn 1 crore but businessman is more likely to pay lower taxes than the salaried individual as they its already deducted at source.
My personal view -
1. No taxes upto 12Lakhs p.a.
2. 20% tax upto 48Lakhs p.a. ...no surcharge.
3. Anyone earning more than should 35-40% including surcharge.
4. Highest GST slab should be 18%...28% slab needs to go.
Rich farmers earning 1cr+ profits need to pay taxes.
Same rules for companies & individuals.
This would bring so many businessman/shop owners/self imployed people in tax bracket. Burden of the salaried class would be greatly reduced.
People will spend more freely leading to economic boom.
Sir ashneer is talking about business personals, and even if we talk about salaried employees we can keep a cap of 5L, and anybody earning more than 5L shall pay 20%. and ofc ashneer just gave the basic ideas to us, so in future if he gets elected he can modify few things.
Yeah, he took the idea of absolute taxation, keep a basic limit but above that make it single rate system so its no hassle on anyone.
macro eco padhi he?
cap toh already h hi bhai as BEL aur uske baad it is progressive
Less income tax attract higher purchasing power of wealthy people as compared to original situation its leads higher inflation ❤
Thanks for making this video
*Ashneer is trying to become Rakhi Sawant of Finance & Business field 😂*
An excellent and insightful evaluation!
Excellent analysis from an Accounting perspective as you've highlighted the consequence of Proportional taxation.
However, from govt standpoint, Laffer Curve also matters. I think Ashneer tried to explain the aforesaid concept but in a sub-conscious mind. And neither is he aware of key concepts!!
Thank you sir it was briefly explained ❤.
Aaj kal ke influencer kuch bhi bolte hai 😅😂😂
Consistency is back
Sir agr ek certain income ke baad like 20lpa ke baad sabke liye common tax rules kardiye jaye toh kya shi hoga? Ig kyunki uss case mei survival problems toh nhi aayenge ,but greed toh rhegi ,so aap kya cmnt karenge ispe?
Very nicely explained 🙏🏻
I used to think 40% is high , but after your explanation, i get it, now i agree with you
I was not fully convinced with ashneer but now i know the reason
Ashneer is very much right, income disparity ki responsibilty 1000 cr kamane waale ki nahi honi chahiye. After all uske tax money se hi kum kamane waalo ko saari facilities milti hain.
2.5 lakhs waala agar nill income tax de raha hai then 1000 cr waale par atleast tax rate kum lagni chahiye. Sirf usi ki responsibility hai income par tax denè ki?
Charge a flat 15% from everyone earning more than 5 crores. Sirf hamara theka nahi hai desh chalane kaa
@@yashaneja2017 yeah punished for being rich, and this motivates them to leave the country. They should learn a thing or two for large corporations where they usually take max.30% cut and rest goes to the earner ex. TH-cam,Steam,Playstore,AppStore, and mind you these corporations choose these numbers very carefully so as increase their revenue as much as possible.
@@yashaneja2017humara theka matlab ?
@@yashaneja2017 Jab ek law maker tax ke rate decide krta h tab he usually decides such rates from a country's point of view. Your thinking is from the rich's point of view. Ise vahi hoga rich will be richer, poor will be poorer. Lekin i still agree india ke tax rates boht exorbitant h aur india ke mjority population tax nhi bharti especially 2.5L ke up vale. Soo jise middle and upper class mar khati h
@@mee23 thats what I am saying. Income disparity exists because of governance issues and economic policies of government. Why should the rich pay more tax because off it?
Ashneer is on seventh sky due to some popularity by instagram bimbos and novices and now think that he knows everything.
It's not his fault actually, it's the people who praise him on things that are worth condemning.
It comes with popularity actually.
It is the human tendency that we believe if one has excelled in one field in some way that he must be knowing almost everything, it is called the intelligence trap.
There is a good video of 'THUNK', a channel.
very well explained sir!
Sir pr alcohol pr to gst exempted hai n??
Sahil sir : me tera dogla pana nikalta hu 😂😂😂😂❤
Very well explained. Constructive criticism👍🏻
Tu b commerce choda hai. 10k salary.
Sir i am considering purchasing your CA inter IDT classes for Nov23.
My preparation thus far has been poor
Can you please tell me within what time the classes would be made available from time of purchase? ( I would be taking classes through Google Drive, if the classes are available within 2 weeks, i would buy it).
Awesome 🙏👍🏻
Tax evasion is main issue in our country. There is very small percentage bearing brunt of direct tax. Huge number of people earning well enough and don't pay any direct taxes. On top of that, people paying direct taxes don't have any return for the people actually paying it. Individual direct tax should take consideration of expense incurred by tax paying individual according to their earnings or have quality of public education and healthcare at a level that private institution is not needed at all
Absolutely correct and informative video. nowadays everbody is just trying to become over intelligent after becoming slightly popular and just peling gyaan for no reason and our teenagers blind follow them just because he/she is bold (muf fatt)
If you’re earning 1000cr, you don’t get paid. Instead you’re paid in shares of equal value. For expenses, you borrow from banks. Now you’re paying tax of only 10-12% as interest and not 40%.
Thank u sir ❤
Bakchodi aisi karo ki sabko cool lage -- Ashneer Grover
That Ranchorlal is personal 😂😂😂😂. Well done sir
Great video
Very nicely explained
❤ Your videos
sir kindly make a study plan for ca inter may 24 new based on new scheme
Sir missed you case study a lot. 🙏
I think that Govt cannot implement these suggestion only because (90%) Voters come from Weak financial Backgrounds.
The problem with this example is you have taken extreme example. Take an example of one person in IT earning 12lpa and one businessman/farmer earning 1 cr without paying tax.
Finally someone..... This guy took two extreme examples to prove his point...
Exactly... Pura tax bc salaried people se nikal lete hai. Toh mai toh bolta hu jo zhol karna hai karo but bc govt ko tax nahi dena.
Na doctor tax de rha, na lawyer, na CA, na dukaandar, na amir kisaan.. bc bas hum hi kyo tax de
You do the same and still it person will ended up paying relatively more than businessman.
Eaxmple could have been mr a is haivng 1000 crs income
And there are 20 cr mr Bs with income 15 lakhs
20 cr Mr Cs with income 10 lakhs
30 cr Mr Ds with income 5 lakhs
Dear Sahil sir, you should include middle class income group (10L-20L) in your example.
But thats same..he said that
Monthly or yearly?
Thats called a proper and logical discussion and perfect reply❤❤❤❤
Mr. Jain thanks for the video and the detail explaination. I dont understand why Ashneer Grover is invited to any event when there are allegations of mismanagement and fraud against him. Anyways, my question is that can India ever do away to income tax and move to a expense based tax structure? How have othet countries implemented this and earn their revenue from?
A simplification of Income tax is needed. We can remove exemptions and have amazingly simple slabs, like:
Slab1: 10 - 50Lacs: 20%
Slab2: 50L - 2Cr: 30%
Slab3: > 2 Cr: 35%
- So, very stable income tax regime that does not keep changing every year.
Overwhelming majority of taxpayers will fall under Slab1. A few in Slab 2, and very few but rich folks in Slab 3.
The Super Rich class in India actually pays much less tax as a proportion of income. Because they don't earn as much in annual income as in capital appreciation. High rates of income tax do not cover this. We need a small and simple wealth & inheritance tax, at least on the very wealthy.
- The wealth tax can have a high starting limit. For example, a wealth tax of 0.5% of asset values if total global asset value exceeds 100Cr. No exemption for any type of asset. The high limit of 100Cr of total assets is more than enough in a country where 80% of people earn hardly 20K per month.
- Inheritance and Gift tax at 10% of asset value for total assets > 100 Cr. Allow payment spread over 5 years where tax liability exceeds 1000Cr.
- Anyone changing tax residence or nationality pays one-time penal tax rate at 35% of accumulated asset value. Same rate as Slab3.