if there is GDP growth but income tax slabs are not adjusted as per inflation, income tax collection will increase. It docent mean there more taxpayers have now come under tax bracket but more taxes are collected from existing taxpayers.
A curiosity question....out of Total Taxes for India, how much is collected as GST & How much as Income Tax & how much any other tax? Also How much may be Govt Employee % in collection of those i.e how many Govt employee work for GST collection & how many for Income tax Whether it still makes sense for income tax to collect if only 7 Cr people contribute vs almost 80% people paying GST is the reason behind this question
Can't stop wanting more as this conversation had so many interesting topics flying in and out. Gusshow!!!!
if there is GDP growth but income tax slabs are not adjusted as per inflation, income tax collection will increase. It docent mean there more taxpayers have now come under tax bracket but more taxes are collected from existing taxpayers.
A curiosity question....out of Total Taxes for India, how much is collected as GST & How much as Income Tax & how much any other tax?
Also How much may be Govt Employee % in collection of those i.e how many Govt employee work for GST collection & how many for Income tax
Whether it still makes sense for income tax to collect if only 7 Cr people contribute vs almost 80% people paying GST is the reason behind this question
I keep asking the same.Also , the pension bill for such employees.
27% for personal income & corporate tax each, rest is more or less gst give take 10% for others
He says too much "etcertra" 😃