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 ❤
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?
@@beleive.ARTISTSERVICES 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
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.
@@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.
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.
And you are comparing taxable to not taxable sector, we should argue to include agriculture under taxable sector. Read about history (after 1947) to know more about why it is not under taxable sector.
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 😂😂😂😂
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.
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
If you are earning 12 LPA fixed( no pf, no deduction) then you just need to pay 72 k (new tax regime) and ur inhand will be 94K / mnth. It come to 6% flat tax rate. Do some maths buddy. No CA req. for this simple stuff. So search tax calculator on google( I pay my taxes so I know)
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.
@@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 😂😂
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
@@Global-Netizen 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
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
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
@rrrr3666 Now according to you, The Farmers, daily wage workers, and labourers don't work hard. Only the Rich people are working hard. Wahhh bhai.... If the poor farmers also thinks the same, why should I produce food for the rich people, I only produce food only for myself, the rich will...... If you think farming is easy then ask a farmer, how much they earn, compared to how much they work, then you will realise who get paid better compared to his hardwork.
@@arpankoleyNo one is asking for poor to get taxed. The problem is that there are extremely rich farmers who earn in crores, but somehow it has been decided that since they are farmers, they should not give tax. Therefore, only 2% Indians are left to give tax😂. Some examples include Shahrukh Khan's daughter and Amitabh Bachchan who calim to be farmers since they own farmland.
Firstly , asneer was focused on middle class tax payers who is paying 30% after 10 lacs. No middle class deals in 1000crs so give real example. Also after giving all these taxes in direct and indirect way there are minimum benifits they get and they have no reservation,no medical benefits,no social security after retirement and don't even get me started on infra and public services which are corrupted at it's core.
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
@@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.
Paying 30-40% is not the problem. It's the pot holes, broken bridges, no garbage management, no govt schools, no govt hospitals, rampant corruption, etc etc etc that we get in return is the problem.
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.
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.
@@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🤣🤣🤣🤣
@@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
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!
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.
It may not be helpful for you, but it's helpful for the poor, who can't afford pvt facilities. Tax is always for nation and development as a whole, not for just yourself or myself.
@@Global-Netizenbrother if in a family of 100, only 2 people contribute towards running the household, the family wont sustain for long. We need to talk about practical solutions to widen the tax base from 2% rather than being satisfied with status quo.
Mr. Sahil, I think you missed 1 point made by AG: expand the tax base. You have to reduce tax and expand the base. Merely reducing tax will cause a big drop in collections. I personally feel that everyone must be made to pay taxes, regardless of income status. That way people will be appreciative of their contribution to the country. We have poor people not paying taxes and indiscriminately producing children, whose welfare becomes the responsibility of other people. Let them pay small amounts...Rs. 100/month, but let them pay. If a person cannot contribute in tax, let them contribute by way of free community service. Agricultural income must be capped and taxed, otherwise you will have people growing cauliflower in their balcony and claiming agricultural income exemption. Corruption must be severely penalized. I deem IT in India as contribution to corruption because vast amounts allegedly go into politicians pockets. Lastly, remember, if an HNI were to pay 40% and receive nothing measurable in return from the government, what stops them from seeking citizenship in better managed countries where 40% tax gets them low to zero corruption and good public services?
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'.
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
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.
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 .
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.
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. 🙄
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
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
Ashneer made a statement about it but it does not means it should be done exactly same way . But point is taxes are extremely unfair in India farmers enjoy free ride and other segments of the society and tax base should be widened and reduce taxes for every one . look at the infra around India its third class most of the benefits are given to farmers and lower class people . Does any taxpayer even get basic healthcare through schemes like ayushman etc .. people take extreme risk and hardwork to make money and taxes will be spend on poor many of them does not even want to work and enjoy freebies.
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!
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.
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. 😂😂
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
@@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
THe problem is that even if someone pays 40-50% of the his income to the government what is he or she getting out of it, nothing right. See govt hospitals and schools are not going to be used by anyone who is even slightly financially stable. There are people who send their kids to good schools even if they skip means just so that their child would get good education. You know the conditions of govt schools and hospitals. And talking about the roads they are never properly build. The scene is, if they build a good road after 1 month they will remember that they had to put underground pipeline so they start digging the roads this process continues and the roads will never be good to use. it is actually a loss for a person who is paying nearly half of his income on such things. Why the heck he or she pay the salary of so many bribe eating uneducated corrupt politicians who torcher every single person. I agree on giving the tax for our nations Defence as it is very crucial but not for other things. Even in countries like Australia the taxes are high but the only reason the people pay it happily is bcs it it worth it. the govt schools, hospitals, infrastructures are really up to the mark and worth paying the tax. But in india it is not the case atleast for now. I hope there would be atleast govt improves the quality of school and hospitals, reduce the salary of ministers and ask them to pay high tax upon those salary. Build a proper plan before building a road so that it would not be broken multiple times. Or else atleast reduce the tax to 30% in total.
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.
@@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
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.
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!!!
Not only for business people, even for corporate employees doing 9-5 jobs, Taxation should reduce. We shouldn't try to reduce Economic disparity because the successful people reached success by their own hardwork, so why should they pay for others who are poor now?
@@rrrr3666 If the poor farmers stop working,then what all the people will eat. Do you know the condition of the farmers, how many farmers suside last year. All the rich people are rich because the poor people are working, if they stop working then, the rich people will be gone.
@@rrrr3666 Now according to you, The Farmers, daily wage workers, and labourers don't work hard. Only the Rich people are working hard. Wahhh bhai.... If the poor farmers also thinks the same, why should I produce food for the rich people, I only produce food only for myself, the rich will...... If you think farming is easy then ask a farmer, how much they earn, compared to how much they work, then you will realise who get paid better compared to his hardwork.
@@rrrr3666 Now according to you, The Farmers, daily wage workers, and labourers don't work hard. Only the Rich people are working hard. Wahhh bhai.... If the poor farmers also thinks the same, why should I produce food for the rich people, I only produce food only for myself, the rich will...... If you think farming is easy then ask a farmer, how much they earn, compared to how much they work, then you will realise who get paid better compared to his hardwork.
@@arpankoley There's also something called brains, just doing hardwork isn't sufficient, and Farmers get subsidies by rich people also rich people are Farmer's customers! So all the best with that prune brain of yours!
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
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
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.
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 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.
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
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
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.
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.
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
That is actually a very logical reply to him. I think the idea of implementing a single rate specifically for IT may be suitable for a country which is developed and moreover where the income disparity is less. India is a country with people belonging to a wide range of income groups from lower to higher classes. Though there are many complexities that exist but speaking such things w/o considering other factors is very stupid. Great video Sir !👍🏻
Giving 40%+ in personal tax is ok.But what about the benefits one gets who pay such hefty amount. Government should consider about giving some beefits to tax payers who are giving surcharges on personal tax. There exist serious hypocracy within the government wrt HNI tax payers. We can not ignore the fact that many HNI are moving abroad. Many billionaires are living abroad where they have to pay less tax than in India.
Anyways if he would have said that government should increase the slab of basic exemption limit and after that put a flat tax rate... Will it be a decent step?
I think ashneet Grover is right but tax slab me changes honi chahiye aur tax Kam hona chahiye .. bcoz TDS katata hai ... 2 wheeler lene ko jane ke liye 28 percent tax and road tax bhi lagta hai .. 1 lakh wali bike 1.5 lakh ko jati hai
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
Very well explained 🙏🏻 Ashneer Grover is a TikTok type “newly found” public speaker, who is expert in all financial but lack ground level knowledge. Pehle to jo 40% nahi de rha wo 20% bhi nahi dega, don’t assume ki sab khushi khushi kar degein… coz kam hai … unke liye 0% hi sabse badhiya hai … Pisega wo aam Aadmi jo legally kama rha hai. Sabko ek rate nahi de sakte
I reduce my tax from 30 percent to only 5 percent. Previously I consulting a CA friend and he only able to save my 5-10 percent. They I study about taxes through Google and TH-cam and avle to save 25 percent by myself.
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.
@@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?
Very well said sir, I completely believe in your views except one. You said, that when rates are reduced, there is no impact on no. of people paying taxes, but to some extent, it has an impact. Its won't be doubled as he said, but it will be affected as is proved by the laffer curve. But then again, flat rate is never an option, slabs should and will definitely be there. Cannot agree more with you about GST point.
No Ajinkya. I never said that "reducing rates will have NO impact on number of people paying taxes". It definitely can, just that I cannot really quantify the same. All I said in the video is that you should not resort to making bold statements like "mai likhke deta hu rate 40 ka 20 karoge to collections double ho jaayengi". Even the government, which has all sorts of statistics available with it, cannot possible predict the exact outcome of reduction in tax rates. Considering this, kisi layman ka aisi statements dena makes no sense to me at least. You might have a different opinion though.
@@TaxationWithCASahilJain sahi hai . Chutiye ko koi counter kare toh reply nahi karna.. example me b crore wale ka 1 lakh earn kar raha hai uske sath kar raha.. afraid. Kaisa CA bana
Whatever he said is true and bitter to digest. Those who have studied or stayyed in other countries like Europe US or UK will understand what we are getting in returns.
What if the reduction in the rate is only applicable for business owners subject to high rates, while all the other tax payers within the old exemption limits still don't have to pay anything?
@@mohitagarwal6963abolishing income tax will increase the bank deposits just like cayman islands, a study was done if income tax 1961 act in India gets abolished then 300 to 400 billion dollars of money could flow in our all the banks
@@mohitagarwal6963देश चलाने के लिए बैंक में पैसा deposit होना चाहिए, दुबई का बैंक में भी दुबई का जीडीपी से ज्यादा पैसा जमा है उसी का इस्तमाल करते है, हिन्दुस्तान में इंकम टैक्स 0 पर्सेन्ट कर दिया जाए तो देख लो कितना पैसा आता है बैंक में क्यूंकि automatically सारा पैसा legal हो गया, और इसी पैसा का गवर्नमेंट इस्तमाल करेगी और यही पैसा लोग दबाकर प्रॉपर्टी मे डालेंगे उसपर तो टैक्स है ही 😁
@@mohitagarwal6963India doesn't needs income tax act 1961 it should be overhauled just like usa did in 1981 after 1935 because economy of USA changed. We still use 1961 laws with few tweaks and additions and subtraction, 😂😂
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
All Ashneer had to add is that they can tax above a certain income. Say 6 L or 12 Lacs. He probably forgot to mention about the minimum slab. Rest, I agree with Ashneer. 40% is huge. If people evade even at 20% then why not increase tax to 50% Working 5 months a year for the govt is not fun.
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.
Your logic make sense when we talk about those poor people who cannot afford much and surviving, not living the life. So till 7LPA, your logic stands completely. But why can't they apply flat 20% above 7LPA? Anyone who earns atleast 7LPA have capacity to feed their family, run sufficiently good business, educate children. If you say how would they do this and that in metro cities, then who is stopping them to grow and earn more over time? With 7LPA, anyone can think of more than just surviving. My life was limited to 2LPA till I was 18. We survived life and grew fine. And then I learned how to earn more and we grew exponentially.
Whatever he suggested was wrong , the reason why people stood by him ( apart from his image of being a very informed and practical person ) is that there are many people in this country who work in corporate and have no chance to evade it and yet they know someone in their close circle who is making more than him and yet paying less to no taxes. As long as there is no provision to tax ALL the people who make more than 7 L annually , the rules will always be flawed.
I think what Ashneer is saying that income tax above a fixed slab should be flat. And whatever tax collection government is getting, they can offer direct benefit subsidy to the poor or lower income group. 1. This will ensure that government has large tax base and everyone will be covered. 2. System will auto correct when one moves from lower income group to higher band. 3. Tax evasion will be less
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!!
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?
@@beleive.ARTISTSERVICES 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 🤣🤣
🤣🤣🤣
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
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.
And you are comparing taxable to not taxable sector, we should argue to include agriculture under taxable sector. Read about history (after 1947) to know more about why it is not under taxable sector.
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
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.
Intelligent people criticise with facts and study... ❤
“facts and figures” would be appropriate phrase
@@akashsxoyup
@@akashsxo Facts and data will be appropriate 😂
@@akashsxofacts + 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
That's what we call a ' constructive criticism '
Right
So sir is eligible for operational audit.
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
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
8-12 lakh isnt middle class. get to gets right...
If you are earning 12 LPA fixed( no pf, no deduction) then you just need to pay 72 k (new tax regime) and ur inhand will be 94K / mnth. It come to 6% flat tax rate. Do some maths buddy. No CA req. for this simple stuff. So search tax calculator on google( I pay my taxes so I know)
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 😂😂
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
@@Global-Netizen 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
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
Grover is absolutly right ,simplicity is best policy ,baaki sab drama hai
@rrrr3666 Now according to you, The Farmers, daily wage workers, and labourers don't work hard. Only the Rich people are working hard. Wahhh bhai....
If the poor farmers also thinks the same, why should I produce food for the rich people, I only produce food only for myself, the rich will......
If you think farming is easy then ask a farmer, how much they earn, compared to how much they work, then you will realise who get paid better compared to his hardwork.
@@arpankoleyNo one is asking for poor to get taxed. The problem is that there are extremely rich farmers who earn in crores, but somehow it has been decided that since they are farmers, they should not give tax. Therefore, only 2% Indians are left to give tax😂. Some examples include Shahrukh Khan's daughter and Amitabh Bachchan who calim to be farmers since they own farmland.
@@adityavikramsingh9483 Yes I am totally agree with you, there's should a limit on agriculture income.
Firstly , asneer was focused on middle class tax payers who is paying 30% after 10 lacs. No middle class deals in 1000crs so give real example. Also after giving all these taxes in direct and indirect way there are minimum benifits they get and they have no reservation,no medical benefits,no social security after retirement and don't even get me started on infra and public services which are corrupted at it's core.
No one really pays 30% on whole income. It's only for income exceeding ₹15 lakhs. Overall, your tax liability % is always way lesser than 30%
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.
That's difference between Influencers and a intellectual and practical person
Toh aur suno influencers ki
Paying 30-40% is not the problem. It's the pot holes, broken bridges, no garbage management, no govt schools, no govt hospitals, rampant corruption, etc etc etc that we get in return is the problem.
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.
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
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!
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.
It may not be helpful for you, but it's helpful for the poor, who can't afford pvt facilities. Tax is always for nation and development as a whole, not for just yourself or myself.
@@Global-Netizenbrother if in a family of 100, only 2 people contribute towards running the household, the family wont sustain for long. We need to talk about practical solutions to widen the tax base from 2% rather than being satisfied with status quo.
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
Mr. Sahil, I think you missed 1 point made by AG: expand the tax base. You have to reduce tax and expand the base. Merely reducing tax will cause a big drop in collections.
I personally feel that everyone must be made to pay taxes, regardless of income status. That way people will be appreciative of their contribution to the country. We have poor people not paying taxes and indiscriminately producing children, whose welfare becomes the responsibility of other people. Let them pay small amounts...Rs. 100/month, but let them pay. If a person cannot contribute in tax, let them contribute by way of free community service.
Agricultural income must be capped and taxed, otherwise you will have people growing cauliflower in their balcony and claiming agricultural income exemption.
Corruption must be severely penalized. I deem IT in India as contribution to corruption because vast amounts allegedly go into politicians pockets.
Lastly, remember, if an HNI were to pay 40% and receive nothing measurable in return from the government, what stops them from seeking citizenship in better managed countries where 40% tax gets them low to zero corruption and good public services?
Great Sir Very Well Explained. I Hope ye Video Mr. Aslil Grover Ke pass Pahuch Jaye😁😁 . You are Awesome in explaning things.
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'.
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
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.
Thanks a lot for this video. Really was so weirded out when I watched it and being CA student it was torture 😅
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 .
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.
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.
So basically you're earning to do charity to the poor for which government is the broker.
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
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
I need MBA for running my business...
But CA to teach them
How to run business!!! 💯
Ashneer made a statement about it but it does not means it should be done exactly same way . But point is taxes are extremely unfair in India farmers enjoy free ride and other segments of the society and tax base should be widened and reduce taxes for every one . look at the infra around India its third class most of the benefits are given to farmers and lower class people . Does any taxpayer even get basic healthcare through schemes like ayushman etc .. people take extreme risk and hardwork to make money and taxes will be spend on poor many of them does not even want to work and enjoy freebies.
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!
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 ❤
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.
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. 😂😂
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🤣🙏
THe problem is that even if someone pays 40-50% of the his income to the government what is he or she getting out of it, nothing right. See govt hospitals and schools are not going to be used by anyone who is even slightly financially stable. There are people who send their kids to good schools even if they skip means just so that their child would get good education. You know the conditions of govt schools and hospitals. And talking about the roads they are never properly build. The scene is, if they build a good road after 1 month they will remember that they had to put underground pipeline so they start digging the roads this process continues and the roads will never be good to use. it is actually a loss for a person who is paying nearly half of his income on such things. Why the heck he or she pay the salary of so many bribe eating uneducated corrupt politicians who torcher every single person. I agree on giving the tax for our nations Defence as it is very crucial but not for other things.
Even in countries like Australia the taxes are high but the only reason the people pay it happily is bcs it it worth it. the govt schools, hospitals, infrastructures are really up to the mark and worth paying the tax. But in india it is not the case atleast for now.
I hope there would be atleast govt improves the quality of school and hospitals, reduce the salary of ministers and ask them to pay high tax upon those salary. Build a proper plan before building a road so that it would not be broken multiple times. Or else atleast reduce the tax to 30% in total.
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
sir kuch log 3company aur sark tank me jake apne aap ko taxation ka papa manne lagte he 😂
Ye toh hai 😂
@@Instantstatus0 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 🤦
After seeing that ashneer's clip
My first reaction was:- Aap kaha the gyani baba🙏😂
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.
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!!!
Not only for business people, even for corporate employees doing 9-5 jobs, Taxation should reduce.
We shouldn't try to reduce Economic disparity because the successful people reached success by their own hardwork, so why should they pay for others who are poor now?
@@rrrr3666 If the poor farmers stop working,then what all the people will eat. Do you know the condition of the farmers, how many farmers suside last year. All the rich people are rich because the poor people are working, if they stop working then, the rich people will be gone.
@@rrrr3666 Now according to you, The Farmers, daily wage workers, and labourers don't work hard. Only the Rich people are working hard. Wahhh bhai....
If the poor farmers also thinks the same, why should I produce food for the rich people, I only produce food only for myself, the rich will......
If you think farming is easy then ask a farmer, how much they earn, compared to how much they work, then you will realise who get paid better compared to his hardwork.
@@rrrr3666 Now according to you, The Farmers, daily wage workers, and labourers don't work hard. Only the Rich people are working hard. Wahhh bhai....
If the poor farmers also thinks the same, why should I produce food for the rich people, I only produce food only for myself, the rich will......
If you think farming is easy then ask a farmer, how much they earn, compared to how much they work, then you will realise who get paid better compared to his hardwork.
@@arpankoley There's also something called brains, just doing hardwork isn't sufficient, and Farmers get subsidies by rich people also rich people are Farmer's customers! So all the best with that prune brain of yours!
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
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
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.
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.
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
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
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
Always! You are the best taxation teacher I've ever seen.❤
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.
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
Less income tax attract higher purchasing power of wealthy people as compared to original situation its leads higher inflation ❤
That is actually a very logical reply to him. I think the idea of implementing a single rate specifically for IT may be suitable for a country which is developed and moreover where the income disparity is less. India is a country with people belonging to a wide range of income groups from lower to higher classes. Though there are many complexities that exist but speaking such things w/o considering other factors is very stupid.
Great video Sir !👍🏻
Giving 40%+ in personal tax is ok.But what about the benefits one gets who pay such hefty amount. Government should consider about giving some beefits to tax payers who are giving surcharges on personal tax. There exist serious hypocracy within the government wrt HNI tax payers. We can not ignore the fact that many HNI are moving abroad. Many billionaires are living abroad where they have to pay less tax than in India.
In his video he said to increase the slab... What's your view on that..?
Increase the slab of? Let me know the time stamp, I'll check and revert.
1:53 I think he saying to increase the base... I considered it as a slab my mistake...
Anyways if he would have said that government should increase the slab of basic exemption limit and after that put a flat tax rate... Will it be a decent step?
I think ashneet Grover is right but tax slab me changes honi chahiye aur tax Kam hona chahiye .. bcoz TDS katata hai ... 2 wheeler lene ko jane ke liye 28 percent tax and road tax bhi lagta hai .. 1 lakh wali bike 1.5 lakh ko jati hai
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
What a content ..❤
I hope someday he will be a sensible person.
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.
Very well explained 🙏🏻 Ashneer Grover is a TikTok type “newly found” public speaker, who is expert in all financial but lack ground level knowledge.
Pehle to jo 40% nahi de rha wo 20% bhi nahi dega, don’t assume ki sab khushi khushi kar degein… coz kam hai … unke liye 0% hi sabse badhiya hai …
Pisega wo aam Aadmi jo legally kama rha hai. Sabko ek rate nahi de sakte
Achha isliye yeh chutiya video Bana raha woh million dollar company Bana di
Great video jain ji.
My friend loves jain ji❤️
I reduce my tax from 30 percent to only 5 percent. Previously I consulting a CA friend and he only able to save my 5-10 percent. They I study about taxes through Google and TH-cam and avle to save 25 percent by myself.
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?
Uska baap CA hai 😂😂😂
Very well said sir, I completely believe in your views except one. You said, that when rates are reduced, there is no impact on no. of people paying taxes, but to some extent, it has an impact. Its won't be doubled as he said, but it will be affected as is proved by the laffer curve. But then again, flat rate is never an option, slabs should and will definitely be there. Cannot agree more with you about GST point.
No Ajinkya. I never said that "reducing rates will have NO impact on number of people paying taxes". It definitely can, just that I cannot really quantify the same. All I said in the video is that you should not resort to making bold statements like "mai likhke deta hu rate 40 ka 20 karoge to collections double ho jaayengi".
Even the government, which has all sorts of statistics available with it, cannot possible predict the exact outcome of reduction in tax rates. Considering this, kisi layman ka aisi statements dena makes no sense to me at least. You might have a different opinion though.
@@TaxationWithCASahilJain Completely agree sir 👍
@@TaxationWithCASahilJaini m impressed by your understanding
@@TaxationWithCASahilJain sahi hai . Chutiye ko koi counter kare toh reply nahi karna.. example me b crore wale ka 1 lakh earn kar raha hai uske sath kar raha.. afraid. Kaisa CA bana
Bhut sahi sahil Bhai.. professor ki awaj me tax ke bare me samza diya bhut sahi
Whatever he said is true and bitter to digest. Those who have studied or stayyed in other countries like Europe US or UK will understand what we are getting in returns.
What if the reduction in the rate is only applicable for business owners subject to high rates, while all the other tax payers within the old exemption limits still don't have to pay anything?
Desh kaise chaloge phir ?
Tax collection kam hojayega
@@mohitagarwal6963abolishing income tax will increase the bank deposits just like cayman islands, a study was done if income tax 1961 act in India gets abolished then 300 to 400 billion dollars of money could flow in our all the banks
@@mohitagarwal6963देश चलाने के लिए बैंक में पैसा deposit होना चाहिए, दुबई का बैंक में भी दुबई का जीडीपी से ज्यादा पैसा जमा है उसी का इस्तमाल करते है, हिन्दुस्तान में इंकम टैक्स 0 पर्सेन्ट कर दिया जाए तो देख लो कितना पैसा आता है बैंक में क्यूंकि automatically सारा पैसा legal हो गया, और इसी पैसा का गवर्नमेंट इस्तमाल करेगी और यही पैसा लोग दबाकर प्रॉपर्टी मे डालेंगे उसपर तो टैक्स है ही 😁
@@mohitagarwal6963India doesn't needs income tax act 1961 it should be overhauled just like usa did in 1981 after 1935 because economy of USA changed. We still use 1961 laws with few tweaks and additions and subtraction, 😂😂
@@mohitagarwal6963I may be wrong whether 1981 or 1991 just check the facts.
I love your communication skill always.
You always use words carefully ✨
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
7:55 So what, Person A hi kyun apni majority income donate kare?
Tax on personal expense 18% to 28%
He is right when he said CA ki job justify kar rakhi hai 😂😂
All Ashneer had to add is that they can tax above a certain income. Say 6 L or 12 Lacs.
He probably forgot to mention about the minimum slab.
Rest, I agree with Ashneer. 40% is huge. If people evade even at 20% then why not increase tax to 50%
Working 5 months a year for the govt is not fun.
you are thinking at very micro level, and governments works at macro level ..pagal nahi he log jo apna pura time sirf law form karne me lagate he ..
above certain income toh h hi bhai aur sarkar ne bathere deduction de rkhe hn fir bhi logon ki jl rhi h
That Ranchorlal is personal 😂😂😂😂. Well done sir
Dear Sahil sir, you should include middle class income group (10L-20L) in your example.
But thats same..he said that
Monthly or yearly?
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.
Your logic make sense when we talk about those poor people who cannot afford much and surviving, not living the life.
So till 7LPA, your logic stands completely. But why can't they apply flat 20% above 7LPA?
Anyone who earns atleast 7LPA have capacity to feed their family, run sufficiently good business, educate children.
If you say how would they do this and that in metro cities, then who is stopping them to grow and earn more over time?
With 7LPA, anyone can think of more than just surviving. My life was limited to 2LPA till I was 18. We survived life and grew fine. And then I learned how to earn more and we grew exponentially.
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?
Whatever he suggested was wrong , the reason why people stood by him ( apart from his image of being a very informed and practical person ) is that there are many people in this country who work in corporate and have no chance to evade it and yet they know someone in their close circle who is making more than him and yet paying less to no taxes.
As long as there is no provision to tax ALL the people who make more than 7 L annually , the rules will always be flawed.
Totally agree. Iam that corporate slave
I think that Govt cannot implement these suggestion only because (90%) Voters come from Weak financial Backgrounds.
This is called equality in equal circumstances
I think what Ashneer is saying that income tax above a fixed slab should be flat. And whatever tax collection government is getting, they can offer direct benefit subsidy to the poor or lower income group.
1. This will ensure that government has large tax base and everyone will be covered.
2. System will auto correct when one moves from lower income group to higher band.
3. Tax evasion will be less
Goverment should decrease INDIRECT TAX and increase DIRECT TAX and at the same govt. should provide full transparency to tax payers
Consistency is back
*Ashneer is trying to become Rakhi Sawant of Finance & Business field 😂*
Sir apki voice apka explain krne ka tareeka best hai ❤❤
You are absolutely right sir
Sir, you are amazing ❤
Your explanation is too brutal, yet classy 😊
1:49 that awkward clap says all about it what shit he is speaking 😂😂😂😂
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!!
You're an angel. Thank You, Mr Sahil Jain.
But not all people understand facts or want to listen to them.
In India most suffering people due to tax is middle class