khadekhademaaro Posted Friday at 02:49 AM Share Posted Friday at 02:49 AM 9 hours ago, coffee_rules said: Not true, salaried people get taxed at source. Rich and business have different tax rate based on their type of income. Income gained from stock trading is much lower than salaried personal income. Capital gain tax is 15-20% while salaried have slabs which reach 35% in any country. EU has the max tax for salaried income, socialized state. Agri income is not at all taxed , rich farmers and arthiyas pay 0 tax aap pravasi bharatiya nahi lagte hain. khwabon ki duniya mein rehte hai ? , Khota 1 Link to comment Share on other sites More sharing options...
LordPrabhzy Posted Friday at 07:33 AM Share Posted Friday at 07:33 AM 14 hours ago, Khota said: Salaried people end up paying taxes but rich folks seldom do. a lot of people in the informal economy and professionals who deal in black ( doctors, dentists, lawyers etc) arent rich as industrialists are. There is a fine line of how much you want to tax these people as the more black they have the more they spend in the retail economy which raises GST for the Gov and more employment but again these retail avenues continue the black money cycle. There must be a way to incentivise people and businesses to pay a 'fair' amount of tax which doesn't impact their lifestyle and spending habits Khota 1 Link to comment Share on other sites More sharing options...
coffee_rules Posted Friday at 12:17 PM Share Posted Friday at 12:17 PM 9 hours ago, khadekhademaaro said: aap pravasi bharatiya nahi lagte hain. khwabon ki duniya mein rehte hai ? , Aakhade kabhi jhoot nahin bolti. Tax rates are different for different types of income is khwabon ki duniya? All rich are not hotel owners in chandi chowk Link to comment Share on other sites More sharing options...
coffee_rules Posted Friday at 01:19 PM Share Posted Friday at 01:19 PM 11 hours ago, Khota said: Do you think a rich guy who has a restaurant in Connaught Place discloses all his sales? So you apply that stereotype to all rich people and say they seldom pay taxes. Link to comment Share on other sites More sharing options...
mishra Posted Friday at 04:34 PM Share Posted Friday at 04:34 PM 8 hours ago, LordPrabhzy said: a lot of people in the informal economy and professionals who deal in black ( doctors, dentists, lawyers etc) arent rich as industrialists are. There is a fine line of how much you want to tax these people as the more black they have the more they spend in the retail economy which raises GST for the Gov and more employment but again these retail avenues continue the black money cycle. There must be a way to incentivise people and businesses to pay a 'fair' amount of tax which doesn't impact their lifestyle and spending habits Corporates avoid taxes generally by reinvesting into business is not same as Tax theft by businesses (professionals/non professional/shops/small factories ) who simply decide to not enter income in books. Here in UK, small shop owners used to make massive sales but weren’t paying the dues. Government introduced multiple Supermarkets every town and that was end of it Link to comment Share on other sites More sharing options...
Khota Posted Friday at 05:31 PM Share Posted Friday at 05:31 PM 4 hours ago, coffee_rules said: So you apply that stereotype to all rich people and say they seldom pay taxes. "Only the little people pay taxes" Leona Helmsley Link to comment Share on other sites More sharing options...
LordPrabhzy Posted Friday at 05:50 PM Share Posted Friday at 05:50 PM 1 hour ago, mishra said: Corporates avoid taxes generally by reinvesting into business is not same as Tax theft by businesses (professionals/non professional/shops/small factories ) who simply decide to not enter income in books. Here in UK, small shop owners used to make massive sales but weren’t paying the dues. Government introduced multiple Supermarkets every town and that was end of it but the black economy is a very very small % of the wider economic ecosystem. It's not limited to shop owners- even tradespeople like plumbers and builders can take cash without VAT Link to comment Share on other sites More sharing options...
BacktoCricaddict Posted Friday at 09:32 PM Share Posted Friday at 09:32 PM On 5/22/2023 at 9:24 AM, bharathh said: It's true. I rarely have cash in my wallet. In major cities you don't need cash for any transactions. The only time I've used cash is when I go camping/trekking as I'm not sure of the data connectivity in some areas. I did have to use it in Leh and Kashmir though due to the connectivity issues. Still, 2000 Rs notes hardly have any significance today except for hoarders. Even foreign tourists can avail of this feature. I visited India after 4.5 years, and the biggest change I noticed? Digital payments. By far. I felt like a freakkin dinosaur. I was at a "Paatre angadi" (kitchenwares shop) counting cash at the counter and 3 people walked past me, flashed their phone in front of the PayTM QR code, and walked away with their stuff. And there I was going "ainooru, saaviraa, saaviradainooru ... (500 ... 1000 ... 1500 ...)." It was a bit humiliating :-) The most amusing thing? I have never, ever read a QR code. Ever. bharathh, Khota, Under_Score and 1 other 4 Link to comment Share on other sites More sharing options...
diga Posted Saturday at 06:02 AM Share Posted Saturday at 06:02 AM 8 hours ago, BacktoCricaddict said: I visited India after 4.5 years, and the biggest change I noticed? Digital payments. By far. I felt like a freakkin dinosaur. I was at a "Paatre angadi" (kitchenwares shop) counting cash at the counter and 3 people walked past me, flashed their phone in front of the PayTM QR code, and walked away with their stuff. And there I was going "ainooru, saaviraa, saaviradainooru ... (500 ... 1000 ... 1500 ...)." It was a bit humiliating :-) The most amusing thing? I have never, ever read a QR code. Ever. https://www.denso-wave.com/en/technology/vol1.html This might help you Profsr BacktoCricaddict 1 Link to comment Share on other sites More sharing options...
BacktoCricaddict Posted Saturday at 12:19 PM Share Posted Saturday at 12:19 PM 6 hours ago, diga said: https://www.denso-wave.com/en/technology/vol1.html This might help you Profsr Very cool Sat morning coffee reading. Thank you! From a more practical standpoint, I've just not found a good enough QR code reader yet for my Android. I downloaded one when I was in India, but it was crap so I gave up. Any recommendations? Link to comment Share on other sites More sharing options...
coffee_rules Posted Saturday at 03:09 PM Share Posted Saturday at 03:09 PM 17 hours ago, BacktoCricaddict said: I visited India after 4.5 years, and the biggest change I noticed? Digital payments. By far. I felt like a freakkin dinosaur. I was at a "Paatre angadi" (kitchenwares shop) counting cash at the counter and 3 people walked past me, flashed their phone in front of the PayTM QR code, and walked away with their stuff. And there I was going "ainooru, saaviraa, saaviradainooru ... (500 ... 1000 ... 1500 ...)." It was a bit humiliating :-) The most amusing thing? I have never, ever read a QR code. Ever. Only NRIs use cash. I lived in India for 2 years back in 2015. So I used Paytm, Swiggy, iMoble , Olx, Urban co. Back here I have started Apple Pay, Venmo, Zelle Treasure trove of convenience BacktoCricaddict 1 Link to comment Share on other sites More sharing options...
diga Posted Sunday at 01:23 AM Share Posted Sunday at 01:23 AM 13 hours ago, BacktoCricaddict said: Very cool Sat morning coffee reading. Thank you! From a more practical standpoint, I've just not found a good enough QR code reader yet for my Android. I downloaded one when I was in India, but it was crap so I gave up. Any recommendations? The native app on my S22 works fine for me.. even from a distance of 7-8 feet Link to comment Share on other sites More sharing options...
BacktoCricaddict Posted Sunday at 09:58 PM Share Posted Sunday at 09:58 PM 20 hours ago, diga said: The native app on my S22 works fine for me.. even from a distance of 7-8 feet Hmm ... I don't even know that my A20 has a native QR code app. Link to comment Share on other sites More sharing options...
diga Posted Monday at 02:46 AM Share Posted Monday at 02:46 AM 4 hours ago, BacktoCricaddict said: Hmm ... I don't even know that my A20 has a native QR code app. Camera software on all smartphone should come integrated with QR code reader... digression aside, the UPI payment gateway will heavily challenge credit card biz in the short term. Link to comment Share on other sites More sharing options...
bharathh Posted Monday at 05:21 AM Share Posted Monday at 05:21 AM 2 hours ago, diga said: Camera software on all smartphone should come integrated with QR code reader... digression aside, the UPI payment gateway will heavily challenge credit card biz in the short term. Rupay is already kicking the traditional giants. Apparently, 65% of all debit cards are Rupay cards although CCs have a long way to go. Definitely worrying for Visa and Mastercard. https://business.paytm.com/blog/rupay-card-growth-in-india-ft/#:~:text=According to a new RBI,credit card market in India. diga 1 Link to comment Share on other sites More sharing options...
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