नमस्कार मित्रो। एंजेल ब्रोकिंग के इस podcast में आपका स्वागत है ।
Income tax is a form of direct taxation. The government raises revenue through direct and indirect means.
Kuch logo ka maan na hai ki taxation is theft - ye log mante Hain ki government Apne citizens se paise lekar use revenue ka inefficient use karti hain. Aapke bhi kisi dost ne kabhi kaha hoga ki government jab bhi taxes badati hai, tab growth slowdown hota hai. Par sach to ye hai ki government tax revenue se kaafi public goods create aur maintain karti hai. Public transport like metros and freeways, effective policing, a responsive rule of law, etc are all examples of public goods. Without these public goods, it will be very hard to go to work everyday and earn money. That is why it is every responsible citizen's duty to pay their fair share of taxes.
Most people tend to think that the Income-Tax only applies on the salary they receive from their employers. But the truth is that the income tax is also applicable on a host of other revenue streams. Koi landlord agar tenant se rent le raha hai to uss revenue stream par income tax lagu hai. Agar kisi ko pension ya phir annuities mil rahe hain to is income per bhi income tax applicable hai. Mutual funds or real estate jaise avenue se kisi ko income mil raha hai aur ye income deduction limit se upar hai to unhe bhi income tax pay karna hai.
However, it should be kept in mind that the income tax is not applicable for people who redirect a part of their income into certain investment options. These investment options include equity linked saving schemes - jinko popularly market mein ELSS kaha jata hai - ulip schemes, which is the short form for unit linked insurance plans, general Life insurance, etc. However income redirected to fund Life insurance is only tax exempt until the premiums do not exceed 1.5 lacs per annum. Ek aur cheez Dhyan mein rakhne jaisi hai - ye sab tax exemptions or tax deductions sirf unn logon per lagu hai jo purane income tax system ke antargat apne tax returns file karenge. Jo log naye income tax code ko follow karke tax return file karenge ve exemptions aur deductions ka upyog nahin kar sakte.
Pehle income tax pay karna kafi cumbersome hota tha. Indian taxpayers conveniently tax pay kar sake isiliye government ne TDS-tax deducted at source-introduce Kiya. TDS is automatically deducted by employers when they transfer the salaries to their employees' bank accounts. This TDS is then paid by the employer to the government before the 7th of the subsequent month. Agar aapka tax liability annual TDS se kam ya jzada hai toh aap form 26 AS fil karke income tax returns ke sath submit kar sakte hain. Is form ke through aap apna remaining tax liability clear kar sakte hain yahan toh phir tax refund ka claim file kar sakte hain.
Budget 2020 mein finance minister Nirmala sitharaman ne growth slow down ko counter karne ke liye tax cuts introduce kiye hai. Inn tax cuts se sabse jyada fayda unko hua hai jinka annual income 5 lacs to 7.5 lacs ke beech mein hai. Under the previous system their tax rate was 20%. Under the new tax code their tax liability has fallen to just 10%. In fact the tax rate for everyone who earns less than 15 lacs per annum has been reduced.
To simplify the process of paying taxes even further, the government has removed about 70 exemptions and deductions. The government claims that the savings that taxpayers collected through these exemptions can now be had through the conveniently lowered tax rate.
चलिए, एंजेल ब्रोकिंग की तरफ से आपको आज के अलविदा. ये podcast शेयर करना ना भूलियेगा - याद रखियेगा की ज्ञान बाटने से बढ़ता है । और फिर अंत में तोह financial markets एक ऐसी university है जिसमे कोई professor नहीं, सब students ही है ।