Can't wait for 16 year olds on reddit to claim modi fudged up gdp numbers. There seems like a huge increase in number of people whining about taxes, y'all should visit r/indiatax, apparently every mf there is paying atleast 15L in taxesIndia to revise GDP base year from 2011-12 to 2022-23
India is updating its GDP base year from 2011-12 to 2022-23 by February 2026 for a more accurate economic reflection. A committee has been formed to oversee this transition. Additionally, new monthly labour force estimates will be released from January 2025 to enhance data-driven decision-making.economictimes.indiatimes.com
GDP base year to be updated.
.Hope CPI basket is updated as wellIndia to revise GDP base year from 2011-12 to 2022-23
India is updating its GDP base year from 2011-12 to 2022-23 by February 2026 for a more accurate economic reflection. A committee has been formed to oversee this transition. Additionally, new monthly labour force estimates will be released from January 2025 to enhance data-driven decision-making.
GDP base year to be updated.
Why would Congolese be interested in Indian economic policies, unless it relates to them. Or am I taking the word too literally?Can't wait for 16 year olds on reddit to claim modi fudged up gdp numbers. There seems like a huge increase in number of people whining about taxes, y'all should visit r/indiatax, apparently every mf there is paying atleast 15L in taxes
Plus Congo bots are invading local subreddits alot.
India to revise GDP base year from 2011-12 to 2022-23
India is updating its GDP base year from 2011-12 to 2022-23 by February 2026 for a more accurate economic reflection. A committee has been formed to oversee this transition. Additionally, new monthly labour force estimates will be released from January 2025 to enhance data-driven decision-making.
GDP base year to be updated.
Thats like 3 to 4% increase. I doubt anything more than 1 to 2% will be added to GDP by this exercise.
maybe already posted , new income tax code 2025
Changes in capital gains taxation Under the direct tax code 2025, capital gains will be included as part of normal income, potentially subjecting them to higher tax rates. Previously, capital gains were taxed separately, often at lower rates.
TDS and TCS on most income The direct tax code 2025 expands the application of tax deducted at source (TDS) and tax collected at source (TCS) to cover most forms of income. This change ensures that taxes are collected regularly and at the point of income generation, rather than relying solely on year-end filings. By applying TDS and TCS to a broader range of income sources, the DTC improves the efficiency of tax collection and reduces the risk of tax evasion, ensuring a more consistent flow of revenue to the government.
Tax audit changes The direct tax code 2025 introduces changes to tax audit rules, allowing not only chartered accountants but also company secretaries and cost and management accountants to conduct tax audits. This expands the pool of qualified professionals who can carry out audits, making the process more accessible and efficient for businesses.
Simplification of tax structure The direct tax code simplifies the existing tax structure by reducing the number of exemptions and deductions. This broadens the tax base and makes the tax system more transparent and easier to navigate. The elimination of complex rules and provisions ensures that taxpayers can file returns with greater clarity. The simplified structure also helps reduce tax evasion, as fewer loopholes exist for individuals and companies to exploit.
Increased compliance and reduced litigation The direct tax code focuses on increasing compliance by simplifying tax laws and reducing the scope for disputes. By eliminating complex exemptions and deductions, the DTC makes it easier for taxpayers to understand their obligations.
The DTC also alters the way capital gains are taxed, with the holding period of assets being a key factor in determining tax rates. Short-term capital gains may attract higher rates, while long-term gains are taxed at a lower rate. These changes ensure that the tax system is fairer and encourages long-term investment.
Anti-avoidance rules The direct tax code includes general anti-avoidance rules (GAAR) to curb aggressive tax planning and avoid loopholes. These rules allow tax authorities to investigate and deny tax benefits for transactions that lack substantial commercial purpose beyond achieving tax advantages. The inclusion of GAAR aims to reduce tax evasion and ensure that the tax system is fair. By cracking down on artificial transactions designed solely for tax benefits, the DTC ensures a more equitable tax environment.
Impact on political parties Despite the many changes introduced by the direct tax code 2025, political parties remain exempt from taxation. This provision has raised concerns among taxpayers, as the DTC aims to reduce exemptions for individuals and businesses.
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only good think i see here is companies not needing CA to do audits .
to me , rest just looks like nirmala trying to milk tax payers more .
more tcs/tds comming ,
captial gain being included with income now . trying to sell some land , will end up paying more tax now unless i can sell it before it comes into effect.
maybe already posted , new income tax code 2025
Changes in capital gains taxation Under the direct tax code 2025, capital gains will be included as part of normal income, potentially subjecting them to higher tax rates. Previously, capital gains were taxed separately, often at lower rates.
TDS and TCS on most income The direct tax code 2025 expands the application of tax deducted at source (TDS) and tax collected at source (TCS) to cover most forms of income. This change ensures that taxes are collected regularly and at the point of income generation, rather than relying solely on year-end filings. By applying TDS and TCS to a broader range of income sources, the DTC improves the efficiency of tax collection and reduces the risk of tax evasion, ensuring a more consistent flow of revenue to the government.
Tax audit changes The direct tax code 2025 introduces changes to tax audit rules, allowing not only chartered accountants but also company secretaries and cost and management accountants to conduct tax audits. This expands the pool of qualified professionals who can carry out audits, making the process more accessible and efficient for businesses.
Simplification of tax structure The direct tax code simplifies the existing tax structure by reducing the number of exemptions and deductions. This broadens the tax base and makes the tax system more transparent and easier to navigate. The elimination of complex rules and provisions ensures that taxpayers can file returns with greater clarity. The simplified structure also helps reduce tax evasion, as fewer loopholes exist for individuals and companies to exploit.
Increased compliance and reduced litigation The direct tax code focuses on increasing compliance by simplifying tax laws and reducing the scope for disputes. By eliminating complex exemptions and deductions, the DTC makes it easier for taxpayers to understand their obligations.
The DTC also alters the way capital gains are taxed, with the holding period of assets being a key factor in determining tax rates. Short-term capital gains may attract higher rates, while long-term gains are taxed at a lower rate. These changes ensure that the tax system is fairer and encourages long-term investment.
Anti-avoidance rules The direct tax code includes general anti-avoidance rules (GAAR) to curb aggressive tax planning and avoid loopholes. These rules allow tax authorities to investigate and deny tax benefits for transactions that lack substantial commercial purpose beyond achieving tax advantages. The inclusion of GAAR aims to reduce tax evasion and ensure that the tax system is fair. By cracking down on artificial transactions designed solely for tax benefits, the DTC ensures a more equitable tax environment.
Impact on political parties Despite the many changes introduced by the direct tax code 2025, political parties remain exempt from taxation. This provision has raised concerns among taxpayers, as the DTC aims to reduce exemptions for individuals and businesses.
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only good think i see here is companies not needing CA to do audits .
to me , rest just looks like nirmala trying to milk tax payers more .
more tcs/tds comming ,
captial gain being included with income now . trying to sell some land , will end up paying more tax now unless i can sell it before it comes into effect.
its good. buying expensive things - car,cloths,watch,ac , are bad for soul .
simplicity should be welcomed
everyone should become farmers and weave their clothes too
Gandhi applied the wrong model for village
What are we even getting in return? Elon Muskrat didn't even invest a single penny here.
