Did Modi really kill black money in India? : Economic case study
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- čas přidán 6. 07. 2024
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VIDEO INTRODUCTION:
Hi everybody,
When Modi ji became the prime minister of India, one of the most important agendas he had was to eradicate the black money in India!!!
But the question is, 10 years, 1 demonetisation, 2 modi terms and several GST reforms later, have we really succeeded in eradicating black money!!
Well these are some figures that I found which scared the hell out of me
According to ahmedabad customs, the amount of smuggled gold seized at the airport has seen a 65% rise in fy24 where in 241.1 Kg of gold as in 179 crores worth of gold was seized!! And this 5 year trend shows that the amount of smuggled gold from the Sardar patel airport is increasing at an alarming rate!!
Secondly, RBI says that there was a 102% increase in the number of fake 500 rs notes in the Indian economy!! So counterfeit currency is still a growing problem!!
And most importantly, I was shocked to know that there is even an black stock market system in India!! And this system is so big, that while the average daily trading amount in NSE is ₹1.02 lakh crores, in this black stock market, the average daily trading amount is estimated to be 0.7 lakh crores!! Which means, 0.7 lakh crores worth of black transactions are happening every single day just like the national stock exchange!!
So the question is, have we really succeeded in eradicating the black economy!! And you know what?? You would be shocked to know that, the root cause of everything from smuggling, to black market to even the underworld and crime, everything is linked to just 1 variable, that is taxes!!!!
So with the budget announcement coming,
The question is,
How are taxes directly used as an instrument of wealth by the underworld and smugglers of India?
How does the black market and black stock market get created because of the tax system?
If we have zero tax in India? What could happen to our economy?
And most importantly, since black money is a virus to our economy, what is the most practical way to eradicate it???
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✅Study Materials:
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Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
If you lack knowledge about market investing tactics, get advice from a financial counselor.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining rapidly
Her name is ‘Melissa Jean Talingdan’ Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
The biggest irony is brokerage and taxes are charged on both buyer and seller simultaneously for one transaction.
Yes buyer or seller who made profit only should be charged for tax... So greedy govt with insane tax system... Don't know how many days these guys going to support this mad system
of course indirect gambling is taxed
@@matterless The greedy government has to pay for the other development which was neglected for so many years.
@@vidyanagarajan9135spoken like someone who does not pay income tax
This is how brokerage work. Are you novice?
Black money cant be killed. Govt runs on it.😂
Very true😅
Haha
Yes who r holding Balck money not us.
It's in hand in political parties
✅✅ it's true
It can be when money becomes digital
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%, but what could be my safest buys with $400k to outperform the market in 2024?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
impressive gains! how can I get your advlsor please, if you dont mind me asking? I could really use a help as of now
No worries, we all start somewhere! 📈 First, grab a comfy chair and some popcorn 🍿, and dive into some beginner-friendly finance videos. Start with basics like "investing for dummies" and "how to trade stocks 101." When you're ready for more, also consider financial advisor like Margaret Ellen Whitlock-I came across her in a CNBC interview, she's like the Yoda of finance! May the gains be with you! 🚀💰
Can’t lie I have being using her for 2years now, she has been planner ever since we met in London global economy conference. she's verifiable.
tax should be like "salt in the food" not "food in the salt". Govt need to wake up before its too late.
Before public kika it out
😂food in salt...😂 good 👍
Exactly
Fir hagne ke liye bathroom sarkar se mat mangna 😂
@@shubhamsinghal5290 tumhari mummy se maang lenge
Recently came across your channel and I love it., Please, I would like to know if we're restricted to only Indian stock or if we can also buy US or other foreign stocks. I am new to this and everything is still confusing
Research dividend aristocrats and choose six to ten companies with over 25 years of dividend payments. Consider working with a financial advisor to build a strong portfolio.
@@Higuannn Speaking from personal experience, I would say engage professional guidance. Not sure where you get an experienced one, but if your knowledge of the market is limited, it seems like a good bet
@@hullbruce I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
@@Jaymilnere The decision on which Advisor to use is a very personal one. I chose to take guidance from the popular Sharon Crump Cline to meet my goals. All the information you need to set up an appointment is on her web page.
@@hullbruce I like to give this a try even if my needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
My CFA ’’ Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Tax is not the problem. Main problem is benefits we are not getting.
Huge population bpl
How many people in this country pay tax?
Less than 5 % of the population. How can you get the same benefits you get in Europe or any other developed country?
@@80sidd china
@@mrseskasi Everything you buy has gst which has tax so everyone in indiia pays taxes to some rate stop your andhbhakti.
@@mrseskasibro go and study, u lack basics of taxes.
This is not just taxes. This is Tax Terrorism
finally some 1 with brains
@@jsrintegratedfram4911 🤣
Correct
😡
Lol
This government is definitely killing middle class dreams ..with taxes
Not this, every government has been doing that, congress is the worst in it.
You are a kid you haven't seen the bloodly days of corruption during congress raj
@@lasyamehta631No mehta ji... Meh aap ka bap ka zamana meh bhi tha... This is the worst government ever seen. Not jist middle class killers makinng racial riots too....
@@niceguy3099 many factors are responsible for it.
@@lasyamehta631bhakt triggered
indira congress is laughingin the corner...93% tax
Tax on bikes is 28% and on buying helicopters is 5%. You now know where our country is heading!!
😂 Your knowledge is excellent..If helicopter is taxed 28%, then helicopter will become extinct
@@akeshravi9640 LOL, you are talking as if helicopter is essential for travel for the common man.
Even with current tax rates for helicopter, you don't see helicopters everywhere now do you?
The problem is necessities are getting charged too heavily, while in other countries necessities are getting lesser taxes/exempt.
@@Feuer-ks3rr LOL, I know helicopter is not used by common man..But no country will tax same for helicopter and bike at the same rate, as tax of helicopter will be always less than the taxx on bikes because production cost of helicopter is more than bike.... My reply was limited to her above mentioned comment..
I agree with you tax is high,but if you have lakh to pay for KTMs and R15s of the world then I think you can pay tax as well like Khatakhat Khatakhat 😀😀
@@akeshravi9640 although, helicopters aren't always taxed lesser.
In the UK, just a single 300km travel would give a helicopter a £26 tax for air passenger duty which is about the tax rate of bikes there annually for affordable bikes.
In Japan, tax for bike can be charged only upto ¥6000 (roughly 3k INR), which is much more reasonable than our tax rates, China charges upto 10%.
Just because someone can afford to spend a few lakhs on a decent bike doesn't justify the current tax rates, which is not friendly for the lower middle class.
Fun fact: Income tax was supposes to be temporary... taxation is theft.
Even reservation was supposed to be for 10 years. But 😂😂
how will it happen? Idt reservations is that much big problem now log abhi bhi jati par vote karte hai aur castism daily life mein bhi follow karte hai
Income tax is a theft. Income is your right. You pay tax to everything you buy using your income.
If income tax is a theft then employment generation sud be considered a dacaoity..
I pay tax at 30% for my salary and then another 30% on the profit I make out of the already taxed investments. And then I feel so tired and just want to go to a restaurant to eat something. I put petrol and voila! - I am bombarded with fuel tax. Now I am hardly moving. Finally I manage to make it to a small restaurant and there you are, 4th round of milking tax from me in the form of GST. I die of shock and desperation before even the little food I ate reaches my stomach 😞
My everyday life continues without any significant changes around me, except for the noticeable fact that my wallet is getting emptier by the day and fully exhausted much before next salary hit my account.
At least I am thankful to my wife for not charging me any direct taxes for delivering our children. I love her.
🥺
Which is normal. Tax on your income is different from Tax on your Capital Gains...if you want to reduce your taxes make it Long term capital instead of short term gains...Stock market is directly propotional to Govt and their confidence building measures.. you are reaping only because of the governance
@@grajiv1979 Technical aside, my whole point is the double taxation which we consider as normal or made as normal where people tend to accept it part of their lives like you for example
And sir...another thing is on bribe that we need to give and to face the unsecured society where the richer guy can do hit and run and escape by writting small essay
Do you earn 1 crore per annum.
Only 1 crore annual income has 30 percent income tax btw.
Chanakya in Arthashastra said that Honey Bee collects nectar from flower without damaging it but in-return pollinates it. Govt should collect tax like Honey Bee.
But, right now, the government is collecting taxes from us like honey, but it is not fulfilling its responsibilities, such as providing free education and healthcare, i.e., it is not pollinating.
@@isaikrishna6862 I feel nothing should be free. But you are right Govt should provide affordable education and healthcare. Most importantly govt should provide opportunities to earn for everyone. Job creation should be focus of this government.
@@coldram1111 I absolutely agree with your point. The Delhi Chief Minister highlights your opinions and ideas about affordable education, healthcare, and creating opportunities. They did, however, arrest Kejriwal on charges of a liquor scam, which have still not been proven. The Modi government is believed to mainly benefit the wealthy, leaving the poor and middle class increasingly insecure. This must change; otherwise, the income gap between the rich and the poor will continue to rise, making living in our country difficult for every ordinary citizen.
@@isaikrishna6862 Don’t want to indulge in political debate because rather than finding solutions to problems it creates more problems and blame games.
@@coldram1111 OK no debates!I respect your decision.
There is a saying " fools construct houses and wise men live in them" l
LIKEWISE Govt says. " fools work hard to earn and wise use it to enjoy"
Bro where were you during and before elections???
Licking.
Bootlicking modiji
Hate against Muslim ki wajha se ruka huwa tha mai...!
He had to change his bakhti tune post elections results.
first video dekh rha iski? is he a modi bhakt?
Paying Income TAX as well as GST, Bad Idea!
well that's how a country runs before gst there was vat cst wealth tax luxury tax entertainment tax and so on. Most of it was just subsumed into GST. and tbh gov earns more money through GST than Income Tax:)
@@Anirudh_C_J
Don’t just encourage ppl to cope and tolerate bad governance.
It’s not that ppl are not willing to pay gst.
It’s that where is the promised improvement in basic needs?
Look at fukin China.
It has invested so much back into its ppl. In the form of infrastructure, education,healthcare.
And it did not take forever to do it.
At that time they had more population than INDIA.
What went wrong?
Income Tax + VAT was always there.
@@supermansud VAT on most of the items got subsumed into GST as far I know VAT is charged on petroleum products and alcohol maybe I might have missed some but GST took over almost every product/service which were under VAT
@Anirudh_C_J everyone knows that Sherlock. What people are asking for is lower direct taxes on individuals so that tax evasion can reduce and people can actually look forward to earning more. Middle class jumping to the defense of the government on social media is funny. Stop this self defeating over intelligence and ask for what you need like the poor are doing
No one will want to deal with black money if tax is reasonable
That assumes black money is only used for tax evasion purposes
Congress, Pakistan, Saudi, USA, China etc all have used black money in India to fund terrorism, Wahabism, Communism and political strive.(eg - planning to tag 26/11 as saffron terror/RSS plot)
That's a historical fact!
+ if tax is used properly
they take swaach bharat cess/tax, still no improvement in area, the garbage is still there from years between 2 buildings
+ if tax is used properly
Traffic light is missing,
same road is re-constructed each year
we need proper tunnel for sewage and a tunnel for wires/pipes without digging the entire road
@@user-dv9tz3wu6b what's swachh bharat cess? Never heard of it?
During service tax regime, they used to collect this @@_____aditya____
The fact you explain both sides of the coin without showing any bias is commendable. Love your content🤌🤌🤌
One point not touched in this video is % of people paying income taxes during Regan's era in USA and today what % of people paying Income taxes in India.. difference is causing the pain. Start with charging tax from Farmers having income above 1 Cr.
And fact what I understand from video is,.. be it less tax or more tax, in both cases, rich are getting rich and poor is getting poor.
अबे येडे govt not earning in IT but GST, Revenue Tax, Excise duty, Import Duty, STT, VAT, Property tax, Stamp duty etc.
Try taxing those rich farmers. All hell will break loose. They are very influential politically even have foreign support.
@@Deepa-ki8km Every farmer is paying taxes in Mandi, Petrol, Diesel, Farm equipment, seeds, Pesticides etc.
Abolish IT 😡, increase corporate tax
@@FEN423 Every citizen is paying taxes not only farmers. And I referred to those farmers whose income is more than 1 crore not small farmers. If you're a salaried person you earn this much then you have to pay income tax. Then why are these farmers exempted from taxation?
@@Deepa-ki8km pls check taxpayer data especially above 1Cr income, then check how many Farmers earn 1Cr.
If you look at amount of time and machinery applied against IT amount, u will simply Abolish IT and reinstate Corp Tax cut. Don't single out Individuals but look at the organised loot by NPA to private company. NCLT selling bankrupt companies at only 5% of receivable value. 95% of debt is written off and lending banks booked losses where account holders are being charged for taking banking services as well, double loss, to public.
Nobody stopped salaried people from Farming. 😂
Kudos to Ganesh and Team for always coming out with good stuff. Would also love to see a channel on the state of Early Education in India, compared to even countries like Vietnam.
Sorry bro, he only compares congress failures vs modi’s success.
@@deep0123456 well post Vietnam war they invested in early education with extreme focus to make it an industrial powerhouse today. So if we have to see what india was doing in 1975, things will become more clear. The present state of the nation is reflection of what was done or not done.
Consider a sale of Rs.1,000. Now GST@18% Rs. 180, Say Profit Rs. 200 IT@30% Rs.60. The business owner Gets Net Rs.140, Government Gets Rs. 240. That is not end. If the owner spends his Rs.140 again GST@18% Rs.25, Net tax is Rs. 265. If the tax is spend for the people, without corruption, it is okay.
Tax money are being dished out for mega projects and the money get corrupted into the pockets of the politicians!!!
Businessman also gets rebate on pirchase of the item. If purchase is for 800 then businessman has to pay to govt only Rs. 36 as gst.
@@dhrumilmodi2813 Yes, you are right for sale of Goods, But considering Sale of services ITC will be very minimal. The Government gets more than the Business man, even if he makes a profit or loss. Of course tax money is used for infrastructure development.
This currently happens my friend just purchased flat in posh area of Noida. for example lets say flat costed 1 crore, so they came to conclusion that in official document seller will write 30 lakh for the flat and 70 lakh will be black money sent...It's super common in India everybody does that. even gov got so much gst that they are hiding it now. just wow
Just wow
Why pay money to these people from the age of 18. Should pay after 55 years to 75 years
wo bolenge ki aap roads pool bus sab 55 saal ke baad use karna - bahana he ki aap ke tax se ye sab banta he
being coming from real estate family, black money transaction was never slowed down before and in coming future it is never going slow down.
Yes correct same thing
Real estate has always been a sector always away from Government clutches. Many have selfish interests including Netas. Many politicians buy land at throw away prices , convert land use, and act as middle man minting money many Times, taking advantage of theirs Power
Black money also helps people I think
Public needs to leave chalta hai wala attitude then only India can curb black money🤛 Also make officials accountable 💪
It's not just attitude, it's an OPINION which is useless. Useless as it doesn't solve the problem but helps the problem of tax evasion grow bigger. OPINIONS are meant to deal with such issues as OPINIONS FORCE ACTION but in INDIA OPINIONS ARE DEVELOPED TO MAKE THE ISSUES HABITUAL sidelining any possibilities of resolution.
Which officials? For what?
@@mutyalammapalemps892 Government agents like IAS officers
Instead of blaming the government just blame the people?
@@maheshgandhi6444 Democracy is the government of the people, for the people, by the people. and don't expect corruption to end where people vote for 8500 rs khata khat or anything free or religion, caste etc. Public is equal responsible. Just blame govt will not solve anything. many good infrastructure are destroyed by spitting gutkas and throwing garbage. no matter how much good government does people will vote them out for freebies, caste, religion in India.
Just a quick Q - when we are already paying 30% direct tax on income + indirect taxes on goods and purchases, can the govt not make our investments and savings tax free?
Good question. The biggest pain I personally feel is the tax I have to pay on investments, I mean why should I??!.....I will do the research, I will take the risk and then I will invest while making certain compromises, but still the government gets to enjoy the investment benefits by taxing the shit out of my work without absolutely doing anything.
Just 1.5% population pays taxes..it's shameful that the gov demands taxes from such miniscule population without any benefits n quality gov services for tax payers ..
Direct Tax is very high as compared to services & facilities received by Tax Payers.
1) LTCG on immovable properties - 21%
2) LTCG Equity - 10%
3) STCG - 15%
4) STT
This is multilevel taxation.
@@mandarp9472 LTCG and STCG need to be abolished
Question the state govts and the non tax paying citizens who are swindling the money...also remember that 70 years of mismanagement..
@@grajiv1979don't steer the topic around if you don't have a good counter argument. The present government has been here for 10 years now, nothing effective changed. Let's see what FM presents in this year's financial budget.
This is what Subramanian Swamy talked about when he said we need to create Demand by lowering taxes.
He talks about abolishing it altogether which is a problem as well
The one who differentiated in cows?
If that is done, it will increase prices for non-taxpayers as taxpayers will increase their spending on essentials as well. Suit-boot ki sarkar jibe is the other side of the same coin which will be used by opposition.
@@_____aditya____no the one who is different in pigs
@@santhoshs9810 different in pigs? 🤡
The question is, what are we getting on ROT returns on taxes? What we are paying, no proper roads, no safety, no clean water The county is filled with air pollution....😢
Singapore has zero natural resources yet has one of the lowest taxes and one of the best public infrastructure. Taxation is easy, compliance is high. I think it’s not about economics but about law and order.
Singapore is a thriving financial hub and has a lot of capital invest
I have 30000 salary and i cant even save money due to high cost of living, really worried about my son's future 😢
monthly?
you have a son with 30000 salary!
Save small amount and invest in sip and forget about it for 10 to 15 yrs
@@PankajKumar-zr3tv bro you are putting him in existential crisis
Start slow and steady, Buying assets with loan at better rates is also safe investment. Or Do sip.
I'm an economics undergrad student from India in the US. Love your videos!!
Don't learn Indian system.. Learn American..
India's tax rates are horrible given the standard of living here. The government is just a legal gunda at this point
Love content like this
this probably took soo much effort
amazing video
i have a new found admiration for the economy (subbed)
The real problem is with high taxes only a miniscule number of people (
Say Income tax, otherwise everyone give indirect.
The rich pay least to none taxes in India, that's the main problem
100% Indians pay indirect taxes. The problem is people are paying taxes over taxes.
As it should be
100% population is paying indirect taxes on every service and product.
Why can't government provide GST rebate for salaried employee? that way, they will buy everything via bill. This way, no tax slabs has to be changed.
No selling people will increase the price and they will make us to pay. Same thing happening with card payment now
@@vamsikrishnapotula6608 Currently we are already paying GST in every item.
I really appreciate the way you research and present the data without bending your knee to one side or the other. This is one channel I can trust for information without peddling any agenda.
Gov. Of India needs to see this, before its too late
Tax for buying things.
Tax for income
Tax for death
Tax for everything
Then becomes beggers.
How beggers can pay Tax ?
Even beggars pay taxes when they buy food.
soon tax for breathing air
@@StartNight-df3sv tax for death? Can you explain?
Who all are witness like me that at 2015 1 rupee candies (peanut candie) now cost 5 rupees . This examples can apply for tons of products and things but not for my father monthly salary.
It’s 7rs now.
Candies are fine daily neccesities are beyond comprehension, like petrol milk grains oil ...
Agniveer ko ladki nahi mil rhi H or ye army ki pention rok k bethe h😶😶 jinko pention mil rhi H wo ladenge kya border par?? Tax se to daba hi rakha H janta ko
Wow...loved your case study and it clarified some of my complex ideas.. Great explanation..
Keep it up❤
Bridges collapse adds to national waste burden on common citizen as tax.Electuon ads another waste
This is INSANITY!! I can't even imagine myself doing this much research and speaking out so fluently in front of a camera while analysing 10 Billion different values!!
Much much love and RESPECT to you, Ganesh bhaiya!
Great! Great! Explanation. Just Incredible, the way you said and explained the pros and cons of increase and decrease of tax. And please make a video on income inequality if changes to equality then how it can impact overall growth 📈 😊
I was thinking to, stop this video from 2:00 and i watched the whole video. Too much Informative.
This is the best channel based on my viewing and learning experience on CZcams, keep up the good work👏
Nice video....
Eye opening.
When business minded people run government,all they want In return is money from the customers.
Here customers are people of India.
Your way of explaning such critical topics is very smooth and crystal clear.. good job!!
I congratulate you on your ability to simplify complicated topics.
Most worthy 30 min of my day. this not just a case study but an awareness about our economy and their is an urgent need that the people of India must understand this . kudos to the team for presenting the best case study on taxes and am always eager to watch your upcoming episodes!
Thank you Ganesh - The principal of Think School❤. You have proved that a school can bring a very big positive attitude. Indians really need this type B-School ..
Tax on cement is 28% it's like suicide of middle class
Wonderful analysis brother..this is actually what called content creation
I really don't understand the comments section, there was almost no political points made in the video, yet most comments are political. Maybe Its just too early for proper comments to surface, coz these guys seem to only comment based on thumbnail and title 😮💨
Anyway, as always a great Video!
In 2019, India reduced corporate tax by 8 %, but businessmen did not set up any new factories and kept the tax rebates in their pockets, increasing the GANI factor in India and also increasing unemployment.
Well Said!!
If you think by taxing high to corporate they will give employment then you are wrong. They will definitely move to country like UAE , Saudi where they are provided tax free. Thats why many rich person from UK also moved to UAE and Qatar where they are tax free.
@@vidyanagarajan9135: Could you reread what I have written?
That is the point -- Additional money hand due to tax cut need not go to economic activity -- It can go to pockets of few people OR Go out of India through Hawala operators
@@vidyanagarajan9135 That is why affirmative action required by Government in job creation -- Let there be GOVERNMENT SECTOR IT COMPANY with same Rules and regulations like that of TECH companies -- NPCI brilliant subsidiary of RBI is classic example .. Government has bog role to play in job creation
This was soo fun to watch! Thanks man good work
This video reminds me of the trader who took on the Finance Minister in one of the public events and narrated all the taxes and how the govt is a sleeping partner in his trading business, and making more money than he makes.
Shops like Vegetable, fruits, flowers , small home things never pay tax to Government 😢😢😢 but earning lot of money 😮😮😮 bring tax to everyone
Even small hotels and shops they make way lot of money but doesn't pay tax that's why they are rich but salaried are poor comparably.
Idly wada cart wala bought n construct new house worth 3cr rupees. Still he is living like poor n not paying any taxes
You also leave the job and start small business if u think they r making lot money than job holder
@@MVPHumanbeing exactly 💯💪
Sad reality. These days a lot of small business holders who earns in lakhs or crores are not even paying any taxes at all.
At least, they should pay some tax if not huge tax. And at least, lower middle class taxe should be minimize if not much.
Areca nut farmers earn 20-30 lakhs in a year and some farmers more than 50 L in Andaman Nicobar Islands but didn't pay income tax.
From many decades..
There was a time we used to pay agriculture income tax. My parents used to pay
The quality of your explanations are amazing. I've understood this concept thoroughly. Highly appreciate the research done!
Ganesh, you have a knack for explaining thing brilliantly and this video was very well explained. The title looked like a clickbait though as this was not answered well.
We are in country where govt is tax terrorist, and shamelessly govt. never hears minor breed of traders.
💔💔
Everything is Well and good but please make a video on Taxes and expenditure of Govt of India and Any state you can. Thank you
Thankyou Ganesh for beautifully explaining the Reaganomics! Glad that you covered both the positive as well as the negative aspects. Learnt something valuable today!✨
Very well made and researched. Kudos to the entire team
Bro we miss OLD BUSINESS CASE STUDY VIDEOS... ❤❤❤
Yea please make videos at the ratio of 3 business case study and 1 policy case study 🙏🏻
what's wrong in getting to know about governance in the country? comment seems inspired from the barking dogs in parliament
@@NehaSingh-px7ni nothing wrong with that but there are hundreds of channels does the same political news/stories/analysis video on the other hand very few business channels exists on the standards of think school I for one subscribe to this channel specifically because he inspired me to become an entrepreneur as a viewer we are just making suggestion wether he takes it or not is upto him
Seriously Bro, I have been following your channel from almost the beginning. Most of the policy related videos seems to capture less than half of the actual picture. Please either try a wholesome picture of the policies. Or focus on business videos which carry more knowledge and less opinions.
He is advocating bjp since election campaigning.
You seem to be back!
Congratulations this is a very good video, it took time but it's here. Keep the great work going and don't loose focus please. We need you.
Thanks, for providing a perspective!!
maturity is when u realize we r not independent 😢
20 percent people giving tax and rest of them are using for the free facilities 😢😢😢 still how many years we need to go through it 😢😢 bring one tax one nation rule....no more free facilities
And freebie farmers and protest professional will be on the road unless all tax payers come to the road to counter them
There is not a single person in India who isn't taxed, if you want to buy a nail in India, you are paying tax.
If by "tax" you ONLY mean income tax, then you are fortunate enough to have a job that requires you to pay it. The rest of the people have to create their own means to put food on their plates.
20% who gave you that number, less than 5% pay direct income tax mate.
@@Unacceptable. Very well said.
The top earning population of our country is living in an utopian world.
And most of these people r generating the majority of India's Black money!!!!
that is the most idiotic thing inhave heard in a while
There is a saying , CHORI HAR KOI KARTA, SIRF BHAAV LAGANE VAALA CHAHIYE which is probably true for 90 percent of people. It became apparent during demonetisation. Demonetisation would have been a success if some people among general masses had been honest, but we all know how many bankers ensured back door replacement of notes of higher denomination which came to light when some were caught. Also many poor people stood in line to replace others money for small commission. So whether rich or poor, educated or uneducated, most people are ready to do corruption. All they need is scope and price suitable for them. So lets not blame politicians always.
100% correct
You play with the 52 cards in the deck. There is no point in crying that the game is unfair because you are bad at it. Good government would have foreseen the problem with a massive exercise like demonetization.
@@eraiyanbuvetrivel3553 in order to win the war, you loose some fights, do some research about Pakistan' s economy and terror funding in India after demonetisation
@@eraiyanbuvetrivel3553 and yes for conclusion Modi government has won the war
@@PK-xv4bgThe Russia/Ukraine, Israel/Palestine or the Manipur one?
Good stuff bro, your content is touching serious topics in simple manner
completely agree that persistent effort leads to progress. Thank you for reminding me of this important principle.
I really don't know how you collect such a info and explain in a very simple way in best order.
To an extent reduced. In the year 2010, Black money was all over in calicut, kerala. But now it is difficult to find these black money fraudsters in the city. It shows the difference
In rest of the India it has actually gone up.
It's with Politicians of ruling party 😂😂😂😂
Very well-structured, excellent presentation, a job well done.
Hi Ganesh sir ....I M an upsc aspirant ...thank you so much for this invaluable knowledge u share with us lot's of love and respect ❤🙏🎉🔥
Ganesh bro... TOO GOOOOD!! that dabba trading got me completely taken aback... but really very well and easily explained !!
Really one of the Outstanding video by Think school....... My wishes for this efforts and we are looking for more such video from think school....
As usual your videos are highly informative analytical and educative. Thank you so much. I am 75 and how I wish such information was available to me during my active life.
Great Topic with amazing insights🤓. Found an attached problem with this subject: Sales Tax in retail segment, specially local shops that is a bee-hive issue.
I think use of tech in taxation n public infrastructure usage will help us to adapt our economy goal faster
Wow! The content your team provides and the way you articulate it, even a layman could understand without any background. It's so good to have a infotainment channel covering from geopolitical issues to business case studies and giving a clearer insight on the topics with additional references is simply work of art.
Thank you for your content it is helping many if not most out there
PS: CA Student
But he missed to tell how much the American bakery employees spend their salary in the old tax rate and how much American government earned tax from movies, diapers, etc.
the amount of research, digging and thinking that went into making this video is insane. could be that I'm dumb too too but. Impressive and eye opening for me at least
Summing up your Video Cess:
High rebate and High commission. Fantastic Indices at Ground zero.
splendid one.
Crisp and clear insights/explanation on Taxation and its adverse effects on economy
Always loved your case studies👍🏼
Keep up the good work without any biasness towards anything
Well researched ... Thanks for such informative content ❤
modi has reduced corporate tax by 30% but it is not used by corporate to development but used to clear their debt.
finally someone said it and this is the my personal reason to support AAP government, simple macroeconomic. Thanks man
Hi Mr. Ganesh
Recently I took a five days class in taxes and I feel it is not full and satisfied i don't know why but every time your content given that satisfaction and increase the target of education please continue this....
@ThinkSchool Can you do a study on what will happen if all physical cash is removed and all transactions have to happen through UPI?
Such a great case study ...hands off to each person who worked for this video
Learned more than my whole graduation degree❤..love you bhaiya for providing such valuable content for free
u made me addicted to your videos Ganesh sir ... i wish our teachers taight us in this way.. if u were my teacher trust me i will have 100% attendance in my class
Wouldn't it be better if the government reduced taxes and mandated that individuals invest 75-90% of their tax cut benefits in the government or private sector, allowing them to use the remaining amount for personal expenses? Similarly, companies should be required to invest 80% of their tax savings in the Indian market and research and development, ensuring that these investments are not linked to high-level company personnel. Additionally, research and development funds should be allocated to universities and independent Indian companies. This approach would ensure that tax cut benefits are invested in India without significantly impacting the salaries of high-level individuals or company owners.
Very well thought and it's doable. But Govt has vested interest in our tax money.
Such a tax regime existed prior to 2020 for certain companies who availed tax holiday/ exemption (the recent one which has sunset in 2020 under section 10AA of the incometax Act, 1961 were availed by companies in Special economic Zones (export zones) which required reinvestment of profits to claim such an exemption).
The government, since 2019, rolled out a concessional tax regime for corporates @25.17pc without any tax holiday/ deductions.
Currently, central and state governments have announced fiscal incentives in the form reimbursement of GST, stamp duty, lower rates for electricity etc, to encourage Industries to build/ expand. These incentives require min amount as investment including employment generation threshold to be met. Perhaps, @Thinkschool can cover this in a future video to give us an idea of how these incentives have bolstered the economy.
Separately, a huge shoutout to Thinkschool for this wonderful rendition. Was glued the entire time. Very thoughtful and well organised vid as usual. Cheers.
my be difficult to achieve because the defination of how it is, invested is broad, do they make the poeple chose? then someone could get a non working asset like gold or land which is the same as parking money. Do they take the money and invest it themselves? that is the same as PPF scheme which is already going.
The govt can emphasise more on sec.80JJAA of income tax act and include clauses wherein the companies invest a threshold limit of say 60-75% of Free Cash available to them according to their previous audited balance sheet, in order to avail lower tax rate. It would be a win-win situation to both govt and the company.
Or in other words, debt
What you just described is basically is basically just an I.o.u or bond
Huge huge enormous taxes. No words to desribe taxes in india
Very interesting & clear. Good input, essential for youths, businessmen and the Government to introspect and take these ideas & implement.