Should Income Tax Abolished? Analysis By Adarsh Gupta | Budget 2022-23 special | UPSC Indian Economy

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[@PG-zc7gm]

Tax must be imposed on politicians, political donations, cooperate farmers.

[@armstrong2450]

I guess that's already there

[@Weapondesign5101]

How?? They are goons...politicians dont listen to any law or even court..they will form masses and burn income tax offices. And then people like Rahul Gandhi will oppose the Govt saying public got angry and went against the decision

[@rickkumar1]

politicians are exempted from tax...as per income tax act,1961

[@jagannathdas1775]

Politicians pe tax daloge to wo apna income badhwadenge, thoda soch samajhke bolo, unpe tax dalne ka koi faida hey hi nahi. Or wase bhi unke tax ka paisa unhinke hath ayenge use kerne ke liye. Matlab jyada ghotala baji. Dimag hey ya nahi tumhari, kya padhai kerte ho samajh mein nahi ata.

[@hrushikeshavachat900]

Taxation on Political parties and agriculture is a state subject. So, Indian government cannot impose taxes on both.

[@BrijeshPatel-cd4yd]

I am in 30% slab. Tust me, I feel cheated when political parties announced free free policies. Look like I am earning to feed others.

[@zomvier-maraxavier7113]

Bro tum uplift ho tho tumhari responsibility hai dusro ko uplift karna

[@sanketnegi1]

Haha same.. no wonder half of the people leave India once they reach 30% tax slab.. you get nothing even after paying 30% We will pay higher tax in other developed countries but we will at least get great infrastructure,services,pension,etc.

[@ameymhanera5333]

Bharat mai log kaam Krna nahi chahte bass yahi schemes se apni zindagi chalate hai ,inko adat ho gayi hai muft ka khana ke , aur inke pass paise nahi hote yeh baat pata hote hue bhi yeh log 2-3 bacche karte hai

[@harshitkhatik3346]

yes

[@naitik929]

@@zomvier-maraxavier7113 It's just a moral responsibility not a compulsory one and anyone will feel cheated when getting such low facilities after paying 30% tax.

[@JatinS-yt]

There's Norway where 95% of population pay income tax respective of their income and they end up getting: *Free world class education* *Free health care* *Low rate insurance* *High interest pension system* *About 60k per capita* *Highest land owner %* And last but not least *peace and tension free life.* Just saying.

[@karthiknadar8380]

Very true

[@zomvier-maraxavier7113]

Bro Norway used it's resources money to invest international that's why they has 1.6trillion dollar fund which is way more than their population so government use it's profit to invest in well fair

[@mayursable4921]

They've become victims of islamization

[@hrushikeshavachat900]

The basic exemption limit is very low in Norway which makes it easier for Norway to tax majority of its population.

[@VivekSingh-mu1wc]

In norway there government main revenue is through oil

[@anuragcvsr7169]

I firmly believe any middle class indian whose annual income is under 10L shouldn't pay any taxes. Here in India, we don't get anything in return for the taxes we pay. Be it healthcare, efficient administration, education,etc. Govt want to squeeze money from the middle class in the names of taxes but don't want to take any measure to make our lives better like abolishing reservation where middle class suffers the most, providing quality and efficient healthcare, education. Govt wants to squeeze money from us and give more to sc/st/poor to increase their vote banks and abandoning us.

[@nirgunasiva7509]

💯 true bro

[@naitik929]

True bro. We middle class have to suffer. My father works so hard for his income and then pay taxes but in return we get such sh!tty roads, poor healthcare etc

[@rushikeshsarap1604]

I think a common man should be given a reason to show his income in public i.e. to keep it in Banks, Invest in the stock market, etc If he will receive more profit and less risk by showing his income instead of hiding it, selfishness will naturally lure him to the limelight.

[@sudhanshuswami2304]

it feels like that people with 10L income are in middle class ! but as per statics 10L income should be upper than upper middle class ! that falls in top 1% or even top 0.5% !

[@Youtoobh]

Exactly dude.

[@epicrealmIN]

1. Individual Category tax must be reduced. 2. Bring more people in income tax paying category. 3. Recognise Income tax payer with some perks, it will motivate others too file a return.

[@ujjwalnarayan07]

3 point is most crucial as indians have tendency to seek what they will get in return

[@rushikeshsarap1604]

I think a common man should be given a reason to show his income in public i.e. to keep it in Banks, Invest in the stock market, etc If he will receive more profit and less risk by showing his income instead of hiding it, selfishness will naturally lure him to the limelight. And same is true for a rich person.

[@student_of_God]

1 individual tax category slabs has already been reduced in new tax scheme(disadvantage-one cannot claim ITRs in most cases) 2 Bringing more people in tax paying category is very difficult. Those politicians with 0 tax liability will never let that happen 3 Very important point. My father pays around 30% IT acc to old tax slab...and what are the perks of 30%IT? NOTHING

[@MercilessAryan]

To put it in layman terms, there is no incentive for a common man to pay income tax since he doesn't get anything in return. Be it infrastructure, medical facilities, education policies, marriage laws or the problem of brain drain our politicians never take any proactive steps. Rather they sleep till the problem becomes big enough to put a lot of lives in danger. Less than 2% people pay income tax in India and even among those 2% people, most fall under the 10% bracket. There is a dire need to revisit and revise these laws so that every citizen of this country pays a plausible amount of his income in terms of tax but this will probably never happen since the people who have the power to amend these laws are themselves corrupt to their core and hence won't be bringing anything that puts them jeopardy.

[@jagsbond]

Everyone pays tax whether it is direct or indirect even a beggar pays tax when he or she purchases something from market .Got it bro.So people paying income tax is 2% bcs most of the people come in less than 5% tax bracket.so govt shouldn’t eyeing on people earning 10 or 15 lac income bcs nothing much left for them and we already are paying 3 to 4 times tax on single item.

[@Zenith681_JpC.bstno.x]

Well explained 👍

[@jagannathdas1775]

Every body thinks politicians are corrupt. First think who are these people. They are one of you. Who happened to be in your school and colleges. Anything to do in india for all the people it’s difficult. Govt take suggestions from ias and economists only, to make a plan a huge nos of stake holders involved. These people are comes from you only. People like you come and just comment having no sense of responsibility. They want everything free than blame the govt.

[@hrushikeshavachat900]

Even today majority of the people in India earn either through agriculture or earn less than 2.5 Lakh after deduction. This allow them to avoid income Tax legally.

[@anuragbanerjee2879]

nonsense you dont walk on street?

[@sureshsatapathy2207]

Due to incometax many people don't want to invest or make digital transformation, which is really needed for economy to grow

[@itz_SahilAhmad]

I this india should reduce income tax that will help india to grow faster

[@PG-zc7gm]

🤣 then petrol will be 1000 per liter

[@satyabansahoo6075]

Only 1% pays that and still reduce. It's becoming burden because only few pays.

[@sudhaarsharma1099]

Accha..... Or

[@squad4yt103]

Yeah i think same too.

[@saurabhmohite3565]

😂 govt safety security ke liye paise kaha se layegi

[@shivakumarhosmath3378]

The income tax collected is very less than the fees collected by the chartered accountants, tax consultants and advocates. And salary, rent, maintenance, pension, travelling, electricity, stationery paid to the income tax departments. If abolished these people will be unemployed. Corruption will also be decreased

[@advaityachandhoke1406]

The biggest problem with our taxation system- 1. Agriculture Income is not taxed- IT was introduced in 1961- At that time not including Agriculture was understandable but why now. Atleast tax the rich farmers. 2. Too High tax on too low earnings compared to other countries. I mean which country taxed 15% on 10 Lakh yaar?... The higher you tax people with low earning the lesser purchasing power they have & the lesser they spend on as expenditure in the market. Rather introduce a 6 Direct Tax slab to widen the categories by increasing upper limits- A. Upto 5 Lakhs- 0% IT B. 5- 7.5 Lakh- 5% IT C. 7.5- 15 Lakh- 10% IT D. 15 Lakh- 50 Lakh- 20% IT E. 50 Lakh- 2 Crores- 25% IT F. 2 Crores+- 30% IT All Farmers earning above 10 Lakh through Agricultural income to be taxed according to the slab rate. Till 10 Lakh they would be exempted. 3. GST Taxes slabs need to be rationalised to have only 3-4 slabs to bring at Global standards from current 7 Slabs- 0% 8% 16% 28% Other than rationalism of slabs, Government needs to broaden the tax base of GST by including more products & services like Aviation Fuel, Petrol & Diesel etc. 4. Lastly, if Government wants to improve it's Fiscal Revenue position to continue spending on Welfare schemes, then Government needs to badly bring broad Subsidy Reforms. Subsidy reforms in areas like Food & Fertiliser Subsidy, Power Subsidy, other types of Subsidy by replacing them with Direct Bank Transfer. Sadly whenever in our country we talk about reforms, there are protests. Somewhere the Government needs to form a broad consensus with the Opposition parties to bring in reforms in Subsidies like Direct Bank Transfer to beneficiaries since it's hurting the nation for 70 years. No matter how much we spend on subsides it's not enough. It's like a Blackhole, the thirst for more would never get over. So it's better to introduce reforms innthis sector. Spend only that much what is required.

[@SidaarthBahri]

Totally disagreed , the gst slabs are good right now !

[@saikatsaha4770]

Agree 👍

[@rghhhhhh]

You have less knowledge... If farmers earn 10 lakh... His cost is around 5-6.5 lakh... Diesel, hybrid seeds, fertilizer, labour cost, machinery, irrigation cost, pesticides... By the way agriculture contribute 50 % of GDP in 1951 But right now only 14 % of GDP. And people depend on them is around 70 crores.... So accordingly farmers income decreases in comparison to other sector... Don't say farmers don't pay taxes.... How much farmers earn.. Around 25% cost of diesel.. It means 12 Percent taxes... And other indirect taxes also.... But village don't have road...u have expressway , national highway.... State highway... We pay road taxes on tractor... But how many percent tractor run on roads...

[@hamid_091]

Nice analysis Any thought on WEALTH TAX?

[@naitik929]

@@rghhhhhh Then same applies to a business man who earns 10 lakhs taking average profit percentage of 8-9%.

[@naveenchaudhary4072]

*effective income tax is 42.7%* this is the highest right now *in 1975 indra gandhi era 97.5% was the highest*

[@KiranPatil-tj8mq]

depends on ur earning income tax is charged.

[@swapnilwakale4173]

I suggest that Indian government should scrap income tax and introduce a expenditure tax..so government can earn more revenue by taxing rich people and politician..why government people are exempted from toll tax and other various taxes.?

[@coronavirus3525]

Exactly, almost every rich country became rich after they reduced or had no income tax.

[@hrushikeshavachat900]

They misses the official infrastructure and use the same for personal purposes.

[@HarshGupta-sl9ke]

Govt has already introduced expenditure tax but without abolishing already layed taxes.Silently.

[@Deena_555]

expenditure tax will curb consumption ending up only hurting the economy.

[@rounakagrawal3701]

Gst is expenditure tax only

[@bijoyroy6114]

No need to abolish income tax, but govt should strictly impose expenditure tax in same manner.

[@Viper60589]

GST infrastructure for detection of tax evasion is already better than the decades old detection system of Income Tax. I am in the CA field and I know the level to which people can misuse tax provisions and loopholes of the infrastructure to not pay income tax. Whereas GST infrastructure is already using big data, AI and data analytics to root out tax evasion, fake invoicing and misuse of provisions. I can definitely say Income tax in its existing form is too complicated and rigid to benefit India's growth in the coming years. A total revamp/abolishing of income tax had to be done immediately. Rationalisation of GST rate structure product/category wise +abolishing income tax should be considered by the Government.

[@hrushikeshavachat900]

I am also a CA. So I can understand what you are trying to say. However, GST impacts mainly business entities having an ATO higher than specified limits. This makes it easier for the government to impose stricter measures and also, higher requirements on the assesee. However, Income tax impacts individual also and hence, the government cannot implement measures such as those seen in GST under the Imcome tax law. This is applicable on all countries around the world.

[@c.h.i.n.a.v.i.r.u.s]

Tum dono study karo jakar😂😂

[@kavishwarmokal124]

@@hrushikeshavachat900 GST is the tax ultimately paid by the consumers/end users; all the entities from manufacturing to retail outlets/retailers have been option of getting the ITC(input tax credit) so practically they don't pay any gst.

[@kavishwarmokal124]

By keeping income tax government want to squeeze the middle class salaried employees as a milking cows who can't hide or manipulate their incomes.

[@scienceisreligion5618]

@@kavishwarmokal124 Removing Income tax would be Stupidity. You cant collect tax via gst. People will buy expensive items in Dubai for Zero tax and they have zero income tax. Thus Indian products wont develop if gst there

[@satyendramth]

It should not be abolished but tax rates should be reduced to 15 to 20 percent. And tax should be applicable only on income greater than 8 or 10 lacs per anum. Am i right friends?

[@anweshkar]

Reduce income tax to 12-15% & get increased GST collection ( around 15% of sales).... this can give a major boost to consumption & in turn an increased GDP, with minimal tax revenue loss for govt.

[@ervivekchoubey]

High income tax slab leads to more money being taken away and eventually consumption goes down. Demand isn't generated as required and neither does investment. Thus there is almost no generation of employment as compared to human resources available. This leads to again low per capita income and government being compelled to the keep the income taxes intact or raised to keep the vulnerable section stay afloat. This has been into a loop which continues like the same...

[@channellatest4782]

Most taxes are cruel but income tax is most cruel it is what old kings used to do what is the difference between them and us

[@code.7027]

Reduce taxes on oil, if people can save money they spend the money in market or invest. Its good for lower income and middle income class who spend most money in unorganized sector because this sector is backbone of economy because its not under 1 person who take most of income.

[@ANKURTAH]

As an Audit & Tax professional, I have always seen Tax liability as a positive side of economy development. 1) If Tax become abolished, then Importance of Book of Accounts gets reduced therefore a section of Commerce Employment comes under challenge. 2) Although companies are intentionally inflated their expenses to show lessor net profit. But in current situation if Net profit not sufficient then valuations to those companies may Impacted. So that Accounts, Audit, Tax are co-related. 3) Tax definitely a burden for few sections of People & Companies. As a Solution I recommend a high slab of Tax exemption & Lower the Tax Rate.

[@casibasishpadhy5428]

Higher Rebate would be better, because BEL get available to all persons..

[@ManishGupta-jv6ll]

I think it should not be abolished but definitely can be reduced to around 25%.

[@coronavirus3525]

25%?? Lol you want govt to take 2 hours of your daily time as slave time??

[@mayursable4921]

10% flat tax for all no loopholes

[@ankushzap]

India public already give 18% GST on every transaction, products, services etc. 98% Indians does not pay Income tax. Only working class gets smashed. End this stupid I-tax.

[@coronavirus3525]

@@mayursable4921 exactly, 10% is more than enough for everything

[@coronavirus3525]

@@ankushzap you are forgetting about more than 100% tax levied on petrol and diesel lol

[@bavleenkaur6747]

In brief The person who is giving a part of his income to govt. As income tax must be rewarded with some incentives like health ,education, for ex different queue for tax payer in govt offices which will give them a sense of respect and encouragement. It is not a donation to govt . Tax is paid with some expectations to get in return the benefits .

[@aloevaloe5704]

Yes this will be great but we can't do anything, As 1% of population is not a vote bank of any political party , so they will not do anything for us...🙂

[@raziasultan33]

Tax must imposed on everyone... Specially on politician... Y Dey r exempted... Those salary also came from common mam money..

[@vivekambekarIndia]

I am a salaried and tax paying individual. I find income tax very biased as rich farmers and industrialists conveniently escape from it leaving us behind to take all the burden. Farmers because they don't have to play any tax and industrialists because they are smart enough to find a way not to pay tax. Middle class runs this country.

[@vivekprabha2401]

I don't understand why a farmer who has 50 acres is considered as poor and no tax is applied on them...

[@br2883]

Income Tax cannot be abolished. But certain provisions designed to give political advantage needs to be re-visited and taxed. For example, income of political parties are exempt from tax. Why? There are atleast 1000 political parties contesting local elections and even losing their deposits. These are captive political party of one politician only to get income tax benefits. Similarly, agricultural income is exempt from income tax under a vague provision in constitution. All the members of constituent assembly had agricultural land holdings. Those days agriculture was solely dependant on rains. Now all agricultural lands are fairly irrigated by government source or private source heavily subsidised by government on pumps, electricity etc. Agri income should also be taxed.Further many Trusts, religious organisations (temples,mosques & waqf, churches, gurudwaras etc are not only exempt from tax but also donors get tax relief. This provision should also be re-visited as these institutions also generate massive black money.

[@dhruvjain6697]

Income tax can be abolished in my opinion, as you see govt earns not even 5.5 lakh crore per annum from income tax, average gst collection per month is 1.25 lakh crore, which will definitely keep on increasing in the future and even more if income tax is abolished, as it directly affects the spending capacity of the individual plus if income tax is abolished all the trillions of rupees lying as black money in whatever form can be brought back into circulation and reinvested in the economy.Also taxing agri income is far from reality, you saw what happened with farm laws.But tax on political funds should be imposed.The government has ample of resources to lease like the spectrumt to earn billions if the fall short of the target collection, which i think won't be the case.

[@thanotoast.5468]

Well, temples do pay taxes whereas other religious places don't instead they get salaries from government.

[@subhadeeppaul1349]

Totally agree with you

[@rickkumar1]

valid points👏

[@hrushikeshavachat900]

Agriculture is a state subject. This is the one of the major reasons why thr central government has not been able to tax the agricultural income in India. This was also on the major points of the farmers which were protesting against agricultural reforms.

[@shubhamsingh-ej1fk]

Till age of 30 there should be no tax.... Pain of just starting earning and giving a portion of it in young age is unmatchable...

[@dkrajpoot4705]

It will just give one more way of hiding black money nothing else

[@S4sent]

Seriously man muje itna gussa aata hai na, facilities kuch nhi tax 30% sala jitna mera personal expenses nhi h us se jyada mera tax ho jata hai, khoon paseena ek karke kamate hain bc bas govt ko dene k lie sala kuch social security mile ya kuch to smj aaye, gussa islie aata h ku ki ye paisa in madrchod sarkari babuon ke jeeb bharta hai corruption se.

[@96kulikshatriyamaratha9]

Tax rates are not decided on age lmaooo but nice proposal

[@shubhamsingh-ej1fk]

@@dkrajpoot4705 not for salaried people...but yes for business man who already underpaying..

[@casibasishpadhy5428]

@@S4sent Do consult a CA

[@vivekkumar-iq4ov]

Not abolished just reduce the amount and make user friendly interface.

[@JatinS-yt]

Isn't this unequal to tax only particular category and exempting low or some categories of people. Imo everyone should be taxed respective to their income.

[@sabujchakrabortyofficial]

For a salaried individual income tax and GST is applicable to one asset (their salary and it's spending). GST can't be removed as as it will take away goverments influencial power. GST should be increased on packed & prosessed foods, clothing accessories, entertainment related expenses, 2nd or further residential properties, prostitution, gambling, alcohol, tobacco products, cosmetics, non commercial private vehicles, so on and also fines should be increased for littering,violating traffic norms and municipal construction norms.

[@gauravkhandelwal1575]

तनख्वाह वाले लोग का तो 25000 तनख्वाह पर भी TDS कट जाता है। लेकिन दुकानदार, किसान तो कभी भी टैक्स देते नहीं है , और धरना और देते है और फालतू ही अन्नदाता कहलाते हैं ।

[@alok2k11]

Govt wouldn't do this but if they do , this will be robust change. And will not be defeated till 2032

[@riscnx]

So I think if income tax is reduced to 10%, tax payers will stop running to USA, UAE, Singapore... means more investment in India, more employment and faster overall growth. Yes it will cause inflation, but that is how you increase the value of whole nation. Income tax 1/4th of Gov's revenue. But the people who pay that also pay other 1/4th as GST and TDS, without asking for any subsidies.

[@scienceisreligion5618]

Removing Income tax would be Stupidity. You cant collect tax via gst. People will buy expensive items in Dubai for Zero tax and they have zero income tax. Thus Indian products wont develop if gst there

[@hello12345383]

I used live in Singapore, very less tax still this country is growing .

[@leelagobburi2207]

Income tax should be totally abolished and introduce Bank transaction tax. Arthakranti pratishtan has given a very detailed proposal in this regard which should be studied

[@saikatsaha4770]

Agriculture sector should not be exempted... Dont think farmers means poor people.. there are many crorepati farmer who pay zerp tax

[@sudduswetu8912]

The problem is their population is huge and they will protest

[@parasite6731]

I think govt ko har ek field me tax lagane chahiye starting from 1lac. Bs tax ghata de(maybe starting from 1-2%)

[@riddler1033]

Last financial year I paid 235 k as income tax

[@rogerd7646]

I hope you did not cheat on your taxes. The way I look at tax obligation is that it shows how sincere you are towards your country's laws. I pay about 5 lakhs a year.

[@Bhupendra_Jogi699]

But you got nothing in return bcoz this is India.

[@deathstrokeisplaying7878]

I think the income tax shouldn’t be abolished rather the limit and the expansion of 80 C 80 D 80 CCD should be increased that is how people will invest those money to particular investment items so it will encourage them to get rich and also there would there shouldn’t be any burden on them to pay taxes to the government

[@eren-qu9uu]

so ultimately loss of goverment , why someone want to lose there free earn money

[@ujjwalnarayan07]

In India people tend to save for their future rather than investing here and there

[@ankushzap]

India public already give 18% GST on every transaction, products, services etc. 98% Indians does not pay Income tax. Only working class gets smashed. End this stupid I-tax.

[@rushikeshsarap1604]

When these people will eventually fall into the income tax slab they will hesitate to pay income tax and thus the same problem will repeat that is happening today

[@tarunpathak9254]

I felt very bad while paying huge chunk of my income as income tax. Because I am not getting benefits for same and it feel like discrimination

[@arpitsharma5558]

Greatest video I have ever seen... thanku sir GOD BLESS YOU

[@ROBINCHAUHAN_]

We should abolish or reduce income tax for a decade and then people will show their real income and then we can start taxation again slowly as our country will grow and people will pay if they’ll see that country is giving them facilities

[@bijendrasingh9402]

I think india should reduce itax and should be fix like 15% around that's good for middle class peoples and national growth

[@Alexanderwashington1017]

We are not saying to abolish tax we are just saying to decrease on some level so normal person can afford because inflation is increasing so tax should decrease at some level...

[@sarojthengre9658]

The way you explain is just amazing..

[@arkapravasamanta2608]

India should exempt indirect taxes from income tax payers or else there is a injustice as well as burden for income tax payers as they are paying both direct and indirect taxes

[@Abhishekry7]

😂😂😂 How is it possible Gav se aaya hai kya? Indirect tax exempt for DT payer 😂😂😂

[@11andy]

Indirect taxes from luxury items should be⬆️ Indirect taxes on necessities should be⬇️ Direct taxes from celebrities and ultra rich should be⬆️ Direct taxes from hard working salary men and entrepreneurs (who contribute in the economy) should be⬇️ or waved off This is the best option, which the govt will never apply😶

[@rakshitsingh2503]

how to decide who is ultra rich if they do not do any income like ratan tata who puts all his income in NGOs to evade taxes

[@bidyutbaruah4280]

Tax slab must start from 1cr. Above 1cr. 10% income tax should be imposed.

[@Daijin245]

Now a days buying a home in a city for a middle class is also a elephantine task. It takes away the entire savings, imposing income tax on them is not a great idea.

[@aewe8782]

two scenarios: 1. Deduct Income tax and give basic necessary facilities as given by many well known countries and increase the Rebate rate. 2. Deduct Income Tax but with reduced IT rates and increased Rebate rate. Income upto 10-12 lpa must be exempted. Already Tax rates are very high.

[@abhishekrathore1235]

I'm Eco student i know this very clearly Revenue generate ek circular flow se hi possible h india ka low to middle class 70+% people eco structure h jo ki expenditure based h but logo ke pass money ni h gov ko firstly inhi core structure pr focus krna hoga ki logo le pass capital generate ho ske then wo apni earning ka expenditre kr ske demand, supply, emplymnt, revenue sab ek circle me aa jynge yhi miss match problem bna hua h

[@vladimirputin.official.]

Crorepati farmers should be taxed and that money should be used to provide subsidies to poor farmers..

[@aspireshekar]

I respect this guy, sweetly explained

[@lioness5838]

Yes. Instead take welfare tax from super rich for reasonable distribution of wealth.

[@YashKumar-xq4mq]

i am a govt. servant.. and i feel bad that every month 5-6K rupee deducted from my accounts but as govt. use this money for welfare scenes its automatically good for the country growth ..but i want transparence that where my money use to spend or govt. should start a portal like that's today from your behave we donation your money in this person lpg subsidy, rascen etc...so that we feel happy that i directly someone who in need... it develops a kind of brotherhood , and unites the people of this country

[@kanpurallabhai4165]

Ye sun kar free temples ki demand bhi sahi hai taki temples dawra generated funds bhi economy ko boost de sake

[@abhirajsingh6072]

Chanakya ne 5 percent tax lgaya tha ..jada tax lgane se economy growth ruk jati h .. Jis se overall berojgari aur garibi badhti unka manna tha

[@NapanVijayvargiya]

Vo bhi to dekh 1 to 2% log tax dete hai agar tax percentage km krna hai to sbko tax bharna padenge to apne aap overall tax km kr skte hai

[@rishabhupadhyay1493]

@@NapanVijayvargiya yes govt should make something like that and It will increase more people to pay tax

[@sudiptoghosh3861]

Either abolish income tax or Government treat the 1% who pay income tax with incentives and special schemes for them. It is not fair 1% population carry the burden of 99% population.

[@shitianandrai5198]

Out of the box idea(NO INDIAN POLITICAL PARTY HAVE GUTS TO DO THIS) Bring agriculture in income tax(with as low rate as possible) and then whatever revenue generated circulate it back to farmers by either increasing the current subsidies or direct transfer(Kisan Samman Nidhi). Benefit of this change: 1. Help to identify rich farmers who are earning too much in a year but still taking advantage of schemes, though they can avoid. 2. Government will get another source to fund farmers subsidies. Its just a basic idea may be intellectuals can make it better.

[@Mohammadaafaq]

Dont abolish income tax rather you invest all the money into education, skill development and manufacturing industry. You will get better results.

[@hetdaftary9189]

I believe that we should try to tax more people and tax less amount. So we can get the enough money for the government.

[@TheSandsplash]

Awesome lecture

[@saurav0777]

This clearly shows the inequality where only 1 % people are only getting suffers . There are many shop keepers and business mens who earns in crore but they don't pay a single tax . Govt should resolve this

[@rajag.s.2550]

If the Government abolishes Income Tax, the whole middle income group will vote for them only. So, this is a very big benefit which the party in power should consider seriously.

[@soumyamukherjee4810]

ONE OF THE BEST KZbin CHANNEL I CAME THROUGH ❤️❤️❤️❤️💐🌷 BEST WISHES

[@PK0000]

I must say the spending of money in all schemes of gov. are more the salary of a middle class family. And mostly schemes are for poors. Not for middle class. All burden is for middle class only. Gov. should also accept the fact of unemployment rate.

[@kaushikdas5301]

INCOME TAX NEED TO BE REDUCE OR JUST INCREASE THE SLAB FROM 5 LAC CURRENT TO 10 LAC ATLEAST

[@atozcraft6786]

The income tax should be around 15% instead of 33%

[@dipeshsah4437]

Your every video is so amazing , 🙏

[@bhanuyalla2158]

I agree with swamy ji He is having some great ideas

[@mdfilms6893]

income tax should be dependent on the family size of person how many depends that person have it will help

[@vipuljasani4315]

For growing economy, it is important to increase the circulation of money and black money restricts the circulation of money. Except Govt, everyone knows that black money is parked in real estate. Govt should tax every inch of Land and Residential and Offices space and remove all Tax exemptions. People should be discouraged to invest in Land and real estate to stop speculation in Land and real estate prices.

[@rushikeshsarap1604]

Instead, we could encourage them more to spend on services which circulate money ex. Saving it in a bank, investing it in the stock market, etc. Encouragement can be done giving them more returns in profit instead of keeping it hidden in gold or land and real estate.

[@scienceisreligion5618]

For that digitization of Land, Currency is needed. Until that Real estate would be speculated

[@samkitsaraf8764]

In my opinion Income tax should not be completely abolished but need to lower down its max. rate to nominal % like 5-10%, which helps citizens to pay small amount of tax in return of their income as well as helps government to get revenue to works on BPL people and for infrastructure, swachata etc. Reducing taxes not completely abolishing will bring huge black money in circulation. Black money holders and normal tax payer will also comfortable to pay tax at such low rates than currently 30% + surcharge (upto 37.5%) + cess (4%). Lowering rates will decrease the rate of income of govt. from single person but increases that single individual rate from 1% tax payer to more and finally increases govt. revenue too for nation's development.

[@krishnanmishra9131]

You sumed it up correctly. Since tax paying population is only 1% which is not a significant vote bank thus income tax will be never abolished.

[@myrelaxpoint]

Tax exemption will help people to spend more and boost the economy.

[@Mahesh-ki2fx]

Abolish income taxes, Increase GST and put on EVERYTHING and EVERYONE. Nothing is free in life. Cheers

[@SD-xh6ui]

If income tax is abolished then govt has to increase some other taxes may be in Direct taxes but that would affect the middle, low income families as commodities prices would shot up.I don't think any country wants to face loss in revenue by itself permanently.

[@rickycool6083]

No, govt has many ways on getting revenue, overall if economy goes up govt will automatically be richer, gst is success and govt is already breaking all records. Govt has got the money, instead what should happen, bogus subsidies and welfare programs needs to be scrapped and more education, skill development programs should be built instead, and incentivise manufacturing. As for inflation in commodities, the above is still applicable, otherwise it can impose a luxury tax or wealth tax to improve its coffers. If people in the past long term thinking like this, we would already be out of poverty instead of still being poor. Socialism is what kept us poor and every rational mind knows this.

[@sudiptoghosh3861]

So 1% of the population continue to get burdened by income tax and 99% enjoy life?

[@SocialShareEducation]

Sir Pls make a video on what India can learn japan bureaucracy. How it can be introduced in India also.

[@rajatshrma2892]

Very Well explained 👌👌👌 Govt. Ko 1% upper middle income walon benefits or incentive Dene chahiye, 10 lac above crores t.o. agricultural Income koTax slab K under Lana chahiye(Rural) or loopholes ka solution dhude . Avoid free scheme

[@pankajsaha6776]

I think instead of abolishing income tax. Indian government should give better facilities to the tax payer as per there slab. Like tax free goods, better health preferences in good gov. Hospital like AIIMS. This will encourage people to pay their taxes honestly. Jai hind

[@roshanara4800]

Government ko law banana chahiye ki jo do se zyada bachche paida karega use koi bhi sarkaari laabh nahin diya jaayega, kyunki log isi wajah se zyada bachche paida karte hai ki sarkar to hai ration card degi, sarkari school mein padhayegi 1 rs. Mein, sarkari hospital mein ilaaj karvayegi free mein, hum bus population increase karte rahe. Government should take a hard step to stop this, nahin to desh gaya. Jai Hind

[@Deena_555]

but population is decreasing , especially in the south.

[@startwith.foodguys3346]

👍💯.....it's required...for good economic times....

[@priyanshuagarwal3363]

Income tax lena chahiye lekin kamai ke 10/- se jyada nahi.. Ab crore rupay ki job me 30Lc rupay gov ko hi dena padega to Log india chorr ke kyu nahi bhagege..

[@anujmonty9175]

great video.. keep up the good work

[@monkeyking475]

Either reduce the taxes or add perks to taxpayers like retirement, education(payee's family), health benefits

[@harshchaurasia5801]

It should be remains constant because if they will aboilshed that than the source of money for govt. is restrictible and ease of running schemes and govt. would be affected.

[@niteshmundhava7409]

Sir please make video about knowledge economy and circular economy .

[@parthapratimsarma2571]

what an analysis 🙏🙏🙏🙏

[@rakeshsethy6386]

a lot of people dont file tax....b coz tax filing procedure is difficult...untill unless everything online and can fatch data directly through pan card..... i dont convince on advance tax system.....

[@kajalkashyap2096]

This is awesome issue🇮🇳

[@bkytittugftuurd]

Great Video...

[@hanumandehru3107]

Slab of income tax should be continues type not descrit type . 5, 10,15,20,25,30, 40,50 etc .

[@Nehas06]

Thankyou sir!

[@indicstudywithankit9991]

I think India shouldn't abolish Income tax as it will impact economically weaker section of society!! It can also cause inflation in market but I must say it should be reduced!!

[@Shashi025]

Very very good 👍 analysis.

[@sj5594]

Tax ke kam karne se agar videshi goods ki demand badhi toh ? Ye kaise boost karega economy ?

[@jigyanshupanday9683]

video qualitttty...... ek no.

[@hetdaftary9189]

I am a salaried individual but I support income taxes. They should be lower but equitable. I do not support different slabs for different incomes. I support one tax rate for all. And people like farmers should not be given this exemption from tax.

[@jasbirjassy]

Decrease circulation of currency notes, increase digitisation and tax on the basis of wealth created annually. Need to bring everyone including farmers under income tax umbrella.

[@raamtodkar140]

We need balanced tax system .. according to behaviour of India mentality ..

[@harshinredzone]

Not abolished but should be uniform. While higher income brackets end up paying around 45% income tax that is scary. 🙁

[@abhijit2254]

Govt should focus on to drag maximum people under Taxabality so that tax rates can be reduced