Singh bling Posted July 23, 2024 Posted July 23, 2024 LTCG 12.5% no indexation benefit STCG hike to 20% No relief on income tax on old regime. Modi government's gift to middle class for overwhelmingly voting for them diga, Vicks57 and Sgattick10 1 2
coffee_rules Posted July 23, 2024 Posted July 23, 2024 (edited) 20k crore for Bihar infrastructure. It is closest to giving special status to Bihar. Paltu Ram ki keemat. 15k crore to Amravati too. Middle class screwed over Coalition politics Edited July 23, 2024 by coffee_rules
diga Posted July 23, 2024 Posted July 23, 2024 customs duty on gold and silver reduced to 6% ... gift to our gold loving women
coffee_rules Posted July 23, 2024 Posted July 23, 2024 More under reporting will happen in sale deeds
Singh bling Posted July 23, 2024 Author Posted July 23, 2024 1 hour ago, coffee_rules said: More under reporting will happen in sale deeds Indira gandhi high income tax in 70s was major creator of black money now we are on same path again.Already in Delhi NCR black money is demanded in crores now it will increase much more
Singh bling Posted July 23, 2024 Author Posted July 23, 2024 2 hours ago, coffee_rules said: 20k crore for Bihar infrastructure. It is closest to giving special status to Bihar. Paltu Ram ki keemat. 15k crore to Amravati too. Middle class screwed over Coalition politics BJP is screwing middle class from 10 years even with majority. For middle class Muslims taking over country fear is enough.
coffee_rules Posted July 23, 2024 Posted July 23, 2024 2 minutes ago, Singh bling said: BJP is screwing middle class from 10 years even with majority. For middle class Muslims taking over country fear is enough. Average income and their property values have also increased, they are happy looking at their FDs and property values. There was some very minor Tax relief on tax slabs (woo hoo 1450 pm). More money into their FDs.
R!TTER Posted July 23, 2024 Posted July 23, 2024 6 minutes ago, Sgattick10 said: Meanwhile, we have fake news, of course. https://www.indiatvnews.com/sports/cricket/bcci-paid-record-inr-1159-crore-tax-last-year-and-over-inr-4200-crore-in-last-five-years-2023-08-09-885727 Sgattick10 1
randomGuy Posted July 23, 2024 Posted July 23, 2024 4 hours ago, Singh bling said: LTCG 12.5% no indexation benefit STCG hike to 20% No relief on income tax on old regime. Modi government's gift to middle class for overwhelmingly voting for them What a blatantly biased OP ... income tax is reduced in new tax regime which is the future which is already opted by 70% tax payers. Capital gains was expected to be increased by many, why - Because India had one of the lowest capital gains tax. Are you ready with material for farcical farmers protest 3.0 coming shortly?
Singh bling Posted July 23, 2024 Author Posted July 23, 2024 (edited) 6 minutes ago, randomGuy said: What a blatantly biased OP ... income tax is reduced in new tax regime which is the future which is already opted by 70% tax payers. Capital gains was expected to be increased by many, why - Because India had one of the lowest capital gains tax. Are you ready with material for farcical farmers protest 3.0 coming shortly? Entire twitter is crying over Budget and you are calling be biased. Do you even know repercussion of LTCG without indexation benefit. We will be back to era where 10-20% value of property was in white and the rest in cash. BTW there is middle class that earn over 15 lakhs what about them? Edited July 23, 2024 by Singh bling coffee_rules and Vicks57 2
randomGuy Posted July 23, 2024 Posted July 23, 2024 37 minutes ago, Singh bling said: Entire twitter is crying over Budget and you are calling be biased. Do you even know repercussion of LTCG without indexation benefit. We will be back to era where 10-20% value of property was in white and the rest in cash. BTW there is middle class that earn over 15 lakhs what about them? I might not know much but probably a bit more than you.... 1. imho property prices went up because govt removed indexation benefits on bonds/ debt mutual funds last year ....as that was the standard world over. people thought real estate had that benefit, so let's put money in real estate. Property prices went up in 1 year. 2. Real estate has a provision where if you reinvest the money from house sold within 2 years back into new house you need not pay capital gains ...
Singh bling Posted July 23, 2024 Author Posted July 23, 2024 18 minutes ago, randomGuy said: I might not know much but probably a bit more than you.... 1. imho property prices went up because govt removed indexation benefits on bonds/ debt mutual funds last year ....as that was the standard world over. people thought real estate had that benefit, so let's put money in real estate. Property prices went up in 1 year. 2. Real estate has a provision where if you reinvest the money from house sold within 2 years back into new house you need not pay capital gains ... 1) property prices are going up from 2021 not last year. Many are saying it's a bubble which is going to burst 2) That provision only has for 1 house . Many are having more than 1 house . And if despite you living in Delhi you don't know about high cash in property part then I can understand how much you know. Don't believe me just open real estate site and call brokers of Delhi ncr .They will tell you about cash cheque ratio of various properties in Delhi ncr on phone. Vicks57 1
randomGuy Posted July 23, 2024 Posted July 23, 2024 14 minutes ago, Singh bling said: 1) property prices are going up from 2021 not last year. Many are saying it's a bubble which is going to burst 2) That provision only has for 1 house . Many are having more than 1 house . And if despite you living in Delhi you don't know about high cash in property part then I can understand how much you know. Don't believe me just open real estate site and call brokers of Delhi ncr .They will tell you about cash cheque ratio of various properties in Delhi ncr on phone. Govt has obligation to support housing for all, not multiple houses for all. You should be satisfied if you don't have to pay capital gains tax on your 1 house. Don't be greedy. Indexation benefit is a reason,not THE reason for black money. 1. Businessmen who HAVE black money prefer to pay more in black, service class people prefer more white. 2. People want to avoid Registry charges in some cases, which are 6-7% of the transaction. As I said I might not know much but a bit more than you.
Singh bling Posted July 23, 2024 Author Posted July 23, 2024 2 hours ago, randomGuy said: Govt has obligation to support housing for all, not multiple houses for all. You should be satisfied if you don't have to pay capital gains tax on your 1 house. Don't be greedy. Indexation benefit is a reason,not THE reason for black money. 1. Businessmen who HAVE black money prefer to pay more in black, service class people prefer more white. 2. People want to avoid Registry charges in some cases, which are 6-7% of the transaction. As I said I might not know much but a bit more than you. This is what Congress of earlier times use to say that government needs money and we all know where Indian economy went. BTW what about commercial property. Lots of people have small shops from which they earn their livelihood.Many times they need money to relocate or buy a big shop. What will they do apart from shelling LTCG without indexation benefit . And yes you know much theory and how to defend government more than me or thousands of middle class which are crying over twitter.
speed_thrills Posted July 23, 2024 Posted July 23, 2024 Budget doesn't concern me one bit may be apart from LTCG but what a shitty budget.
randomGuy Posted July 23, 2024 Posted July 23, 2024 1 hour ago, Singh bling said: This is what Congress of earlier times use to say that government needs money and we all know where Indian economy went. BTW what about commercial property. Lots of people have small shops from which they earn their livelihood.Many times they need money to relocate or buy a big shop. What will they do apart from shelling LTCG without indexation benefit . And yes you know much theory and how to defend government more than me or thousands of middle class which are crying over twitter. In India, out of 140 cr people, only 45 lac people show income between 10-20 lacs, only 25 lac people show income over 20 lacs... Those rich andolanjivi farmers should actually be taxed who are right now giving zero tax on agricultural income. You were crying "BTW there is middle class that earn over 15 lakhs what about them?" Well we are 4 members in our family, all earning 15 lac+ , don't worry abt us. We are happy with the tax rates. Tum sara Khao kamao aur zero tax do. I 'know theory' because I manage money, file taxes of my parents n for myself. We were more impacted when last year they removed indexation from debt mutual funds because I used to invest parents' money in debt mutual funds instead of FDs, but didn't cry abt it because we understand that was the right decision by govt even if it meant more tax on us. More than I defend the government, you are the one biased against it. Rote raho agle 5 saal. upriser7 and coffee_rules 1 1
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