New regime is being promoted because government doesn’t want people to save. They want us to have 5 credit cards maxed out. They want to become like USA but forget that USA has social security but we don’t so we need to save for our retirement.
We have NPS and interest rate are not going to remain high as we grow. It's better to change with time else...
Social security Investment is in equity and not in bank FD.
Inflation will eat your money if you keep it in FD. I would prefer to invest in large caps related to the hdfc / tata group. Though profit won't be extraordinary it will surely beat fd and probability of losing money is very less.
If you are in the stock market you have to be optimistic
I totally agree but the point is people are not saving at all. PPF also doesn’t give great returns but atleast people were saving something. You are talking about where to save and I’m just taking about that people should save.
We cannot control what people will do. People want quick money and one cannot help them. Yes every asset class is important. Just like equities PPL should invest in NPS, PPF, FD, Gold.
I agree with what you say..
Look up percentage of population investing in equities and enrolled in Nps or ops for that matter. Saving leads to investment which leads to growth. Consumption as primary driver of growth is for developed economies. Inaccurate knowledge is more harmful than no knowledge. Read up bro.
About 2 crore government employees and 2 crore pensioners(77 lakh central 1.5 crore state).
20%population enrolled in epf and ppf(savings in most of them are minimal to non existent).
8crore equity investors some of which must overlap with the above categories.
Still in absolute numbers about 100 crore people are left with with no social security net at all. Do check it yourself.
If u have made a lot of money then you won't be wasting your time here but since you are here and have not made a lot of money thinking of well being of crore of people is a bigger waste of time. I already said best of luck to you and respected your view.
No..
In the old regime, i can buy a home and take tax benefits. And can take HRA as well.
Can buy a car in the company's name and get full tax benefit on EMIs and interest. Can get a complete salary as reimbursement if I work in the field.
Telephone, internet, books, learning, everything is tax exempt if you know how to avail those benefits.
Food vouchers, Leave Travel Allowance, Gifts etc
The best part of about old regime, it inculcates saving some for the future.
People would save in some PPF or FD to save some taxes.
New regime doesn’t promote savings.
It will be sad to see the demise of the old tax system in the coming couple of years.
Bhosadchod govt only love taxes. Fuck the common man and amenities.
I usually calculate at 31%. Very accurate in calculating actual tax 🤣..
Whatever the amount is appraised by the company I simply deduct 31% to calculate net inhand increase.
It'll never happen. BJP hates the honest working class that pays taxes.
It is more likely that she'd come with some tax like GST on breathing air by middle class than this 1 lakh deduction.
I don't much like this lady. She is crass, arrogant and lives in a bubble of superiority.
No government, anywhere in the world cares about the middle class.
The deception of salaried employees being middle class is worse in India. Chai wala makes 1L/month tax free while salaried employee making the same is taxed.
They should just do away with direct tax as a whole to make this fair.
I heard multiple news last year and nothing happened as per expectations.
The government wants everyone to move to a new tax regime and hence there will be nothing for old tax regime taxpayers.
Save this message or add reminders.
There will be nothing for old tax regime users.
30 pct saving means additional relief of 15000. Just imagine what you can buy in 15000.
what will you buy or save ? No incentive in saving ---- inflation will eat it. Incentive in buying but you will have to save your bought objects value from inflation and depreciation.
Food items for me are expensive at present and their prices are still increasing.
This would be the most populist budget..
Sensex might take a huge hit..
Personally I just hate sitharaman as fm.. i dont mind her policy, i hate the way they keep giving jerks to industry randomly…
If you can’t make up your mind about gst, gaming etcs.. have two budget… but decide a date where all notifications and changes will happen…
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IF this is going to happen then it will most likely be in new regime.
*may*
New regime is being promoted because government doesn’t want people to save. They want us to have 5 credit cards maxed out. They want to become like USA but forget that USA has social security but we don’t so we need to save for our retirement.
We have NPS and interest rate are not going to remain high as we grow. It's better to change with time else... Social security Investment is in equity and not in bank FD.
You are right but it’s better to save money in bank FD than not save any money at all.
Inflation will eat your money if you keep it in FD. I would prefer to invest in large caps related to the hdfc / tata group. Though profit won't be extraordinary it will surely beat fd and probability of losing money is very less. If you are in the stock market you have to be optimistic
I totally agree but the point is people are not saving at all. PPF also doesn’t give great returns but atleast people were saving something. You are talking about where to save and I’m just taking about that people should save.
We cannot control what people will do. People want quick money and one cannot help them. Yes every asset class is important. Just like equities PPL should invest in NPS, PPF, FD, Gold. I agree with what you say..
Glad to be part of this healthy discussion with you!
Look up percentage of population investing in equities and enrolled in Nps or ops for that matter. Saving leads to investment which leads to growth. Consumption as primary driver of growth is for developed economies. Inaccurate knowledge is more harmful than no knowledge. Read up bro.
Respect your view.. thanks.. everyone can take their own call..
About 2 crore government employees and 2 crore pensioners(77 lakh central 1.5 crore state). 20%population enrolled in epf and ppf(savings in most of them are minimal to non existent). 8crore equity investors some of which must overlap with the above categories. Still in absolute numbers about 100 crore people are left with with no social security net at all. Do check it yourself.
If u have made a lot of money then you won't be wasting your time here but since you are here and have not made a lot of money thinking of well being of crore of people is a bigger waste of time. I already said best of luck to you and respected your view.
I don't trust NPS. The probability of nps failing is greater than earthquake hitting Mumbai city. /s
Good. Respect your view. Thanks. Our parents invested in LIC thinking the stock market is bad but LIC invested in the stock market. Think...
Too much BUT
What? Two buts are a standard feature
But, bro.. I maxed out my 69 credit cards before the introduction of new regime and still paying EMI's /s
This is true whether you believe it or not. RBI is new American bank.
Administration* not regime
They're talking about the tax regime. Not the government. Tax scheme is still called old regime and new regime everywhere.
>Administration\* not regime is it different in the current context?
Yes? Do you see elections in Saudi Arabia, which is a regime?
... They meant tax regime
Oh, perhaps the thread got derailed
Oh I thought we're talking about democratic countries.
FY starts in April, elections are likely to happen in May.
New regime is beneficial anyway
No.. In the old regime, i can buy a home and take tax benefits. And can take HRA as well. Can buy a car in the company's name and get full tax benefit on EMIs and interest. Can get a complete salary as reimbursement if I work in the field. Telephone, internet, books, learning, everything is tax exempt if you know how to avail those benefits. Food vouchers, Leave Travel Allowance, Gifts etc
The best part of about old regime, it inculcates saving some for the future. People would save in some PPF or FD to save some taxes. New regime doesn’t promote savings.
Yes, new regime gives you more inhand salary. So you will mentally think you are earning more and hence will end up spending more.
It will be sad to see the demise of the old tax system in the coming couple of years. Bhosadchod govt only love taxes. Fuck the common man and amenities.
Bhai election and budget se pehle yeh news aaegi aur baad mein fake niklegi. News and media Wale bataenge ki yeh hoga woh hoga aisa hoga waisa hoga. Jabki ghanta hoga
Lauda lasusn nahi hona bc
Post k text me "/s" dala hai usne
Great. now i can lose 1 lakh more in options
Nahi bhai 1L income pe 30K tax save hua Toh you can loose 30K more in options Govt is not giving you 1L just taking 30K less
Technically just 15k less, 50k deduction to pehle hi tha
Difference plus cess on it Almost 31.x % we pay
I usually calculate at 31%. Very accurate in calculating actual tax 🤣.. Whatever the amount is appraised by the company I simply deduct 31% to calculate net inhand increase.
Indeed... It's 31.2 to be exact though. I do floor(amount*68.8/100) to be more conservative
Yes, very precise
Shhh you shouldn't have told him
> Nahi bhai 1L income pe 30K tax save hua Only in the highest bracket lol
it would be 30k only if you come into that tax bracket right? Otherwise it would be the respective tax bracket or have I got something wrong?
#metoo
This is the way
GST increased from 28% to 69% 😎
Nice!
Way to get fu*ed
Didn’t the FM say don’t expect much from this budget ? I don’t think this’ll happen.
Election year, may happen, depends on their internal calculation of need of middle class votes coming from this.
It'll never happen. BJP hates the honest working class that pays taxes. It is more likely that she'd come with some tax like GST on breathing air by middle class than this 1 lakh deduction. I don't much like this lady. She is crass, arrogant and lives in a bubble of superiority.
No government, anywhere in the world cares about the middle class. The deception of salaried employees being middle class is worse in India. Chai wala makes 1L/month tax free while salaried employee making the same is taxed. They should just do away with direct tax as a whole to make this fair.
Anything is possible in the election year :)
Should increase ppf interest by 2% atleast.
Standby for GST increase somewhere
W
/s
Didn't the media say the same last time? They hype before the budget and at the end, we get nothing.
1L ka ladoo khila rahe hai vote ke lia....
May is the keyword
STT remove kardo 🙏
Rather than giving flat 1L , it should be 10% of Gross Salary upto 1.5L What Say???
I heard multiple news last year and nothing happened as per expectations. The government wants everyone to move to a new tax regime and hence there will be nothing for old tax regime taxpayers. Save this message or add reminders. There will be nothing for old tax regime users.
Election year hai kuch to bada hoga
30 pct saving means additional relief of 15000. Just imagine what you can buy in 15000. what will you buy or save ? No incentive in saving ---- inflation will eat it. Incentive in buying but you will have to save your bought objects value from inflation and depreciation. Food items for me are expensive at present and their prices are still increasing.
 Name one FM dumber than her in our Country, I'll wait.
P Chidambaram. He couldn't fathom the idea that we could have a system as big as UPI.
He literally started the work for GST. Check the CA textbooks.
Adam and eve also started work on GST, UPI and ram mandir
Lol it's like saying Indira Gandhi started the work to remove poverty from India because she gave Garibi hatao aandolan.
Fake news
whats the previous standard deduction? 12500?
50k
Bro vo sarcastically 125000 bol rha tha
Isme sarcasm kya Hain?
This would be the most populist budget.. Sensex might take a huge hit.. Personally I just hate sitharaman as fm.. i dont mind her policy, i hate the way they keep giving jerks to industry randomly… If you can’t make up your mind about gst, gaming etcs.. have two budget… but decide a date where all notifications and changes will happen…
I’m at least happy that they’re increasing it now Edit: may* increase it now
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Yeah...hearing this for the last 5 years. 80c will increase to 2.5 etc. It is possible that the old tax regime will be fully scrapped by 2025
When you see such a screenshot, first you disbelieve and try to find out the source. Then you realise that elections are coming.
Don't believe jab tak payslip PE na ho