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Rocky Mountain Doomsday Guy

siddhant4u

Well-Unknown Member
Only 2,200 professionals declared income above Rs 1 crore in FY19, says CBDT
https://www.moneycontrol.com/news/b...-income-above-rs-1-crore-in-fy19-4941951.html

Maybe if the taxes were more realistic.

CBDT explained that 5.78 crore individuals filed income-tax returns in FY19. Of these, only around 1.46 crore individual taxpayers were liable to pay income tax.

Taxes are low, problem is no taxpayers gets anything in return.. so when ROI is low, everyone try to make use of tax loopholes...

it's time to go after those who don't pay, rather then sending tax notices to already registered tax payers...
 

siddhant4u

Well-Unknown Member
IRCTC

https://www.livemint.com/market/mar...it-has-ceased-to-be-a-psu-11581582118426.html

main reason IRCTC’s profits jumped 180% in Q3 was, in fact, a change in government policy. Soon after the demonetization exercise, the government had asked the company to discontinue the convenience fee it charged its customers, with a view to promoting digital transactions. This fee has now been reinstated, and has resulted in a 4.1-times jump in revenue from the internet ticketing business. In fact, segment-wise results show that internet ticketing accounted for the entire ₹157 crore year-on-year jump in profit before tax.

In other words, profit of all other segments put together was flat. Since one policy change has resulted in such a big upswing in profit, investors should note that the probability of the reverse happening is equally high.
 

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