Heavy military spending hurting India, Pakistan -US report

[Sergi]

Is there any tax reform incoming, to boost that figure over the coming years?

Tax reforms !!! Why whats inefficient with current system ???
Over taxing also cause problems reducing the money in consumers hands and affecting the purchasing power of common man.
Taxing is ideal to level if money control is limited to walking inflation.

 

[Chinese-Dragon]

Tax reforms !!! Why whats inefficient with current system ???
Over taxing also cause problems reducing the money in consumers hands and affecting the purchasing power of common man.
Taxing is ideal to level if money control is limited to walking inflation.

How Many People In India Pay Income Tax? Hardly Anyone - International Business Times

Tax evasion by the wealthy has been cited as a central element in the financial collapse of Greece, while not paying income taxes is also a major problem in Italy and various other debt-wracked nations. However, when it comes to not paying taxes, Indians are in a category of their own.

According to various media reports, only 2 to 3 percent of Indians pay any income tax at all. In December, India’s finance minister, Palaniappan Chidambaram, said that 2.89 percent of the population (about 36 million people) filed income taxes. (In contrast, in the U.S., about 45 percent of the population pays taxes, which means that, despite India’s much-larger population, more Americans than Indians actually pay taxes.)

 

[Sergi]

How Many People In India Pay Income Tax? Hardly Anyone - International Business Times

Tax evasion by the wealthy has been cited as a central element in the financial collapse of Greece, while not paying income taxes is also a major problem in Italy and various other debt-wracked nations. However, when it comes to not paying taxes, Indians are in a category of their own.

According to various media reports, only 2 to 3 percent of Indians pay any income tax at all. In December, India’s finance minister, Palaniappan Chidambaram, said that 2.89 percent of the population (about 36 million people) filed income taxes. (In contrast, in the U.S., about 45 percent of the population pays taxes, which means that, despite India’s much-larger population, more Americans than Indians actually pay taxes.)

really ??? you believe this BS ???

Let me put it other way. You want to say the 2/3 % of the population actually pays the tax and GOI can manage the 300 Billion dollar budget on that !!!!!!! Then India is fu@ing rich than China and US

Reality : senior citizens 25/30 % are given little benefit on taxing but its really small.
Low income group 25/30 % are below taxing threshold.

Lower and middle - Middle class: formulate marginal taxing but collection isnt big. Upper middle class is taxed around 30% of income.
Upper class is taxed 30% on income.

So actual tax paying population ( income tax ) is around 30/40 % of total population.

Plus income tax is not only tax. Other direct and indirect taxes form a big figure. It is always bigger than income tax

 

[Koovie]

Tax reforms !!! Why whats inefficient with current system ???
Over taxing also cause problems reducing the money in consumers hands and affecting the purchasing power of common man.
Taxing is ideal to level if money control is limited to walking inflation.

I know about enough businesses in my surroundings (cough cough) who are................. lets say sloppy in paying their taxes....

 

[Sergi]

I know about enough businesses in my surroundings (cough cough) who are................. lets say sloppy in paying their taxes....

Not sloppy !!! They manage the guy. Its termed as corruption
In reality they are taxed on papers but only peanuts. Not the fault of taxing.
Few days ago income tax guy was arrested by ACB for taking bribe to convert 10 Cr to 1Cr. He wanted 3 crs for that
BTW companies are taxed for Sales and service tax mainly.