‘making India Tax Capital Of The World Is Not The Answer’: Finfluencers Call For Lowering Of Taxes

There has been a increasing telephone to modify India’s taxation system, pinch an expanding number of financial influencers batting for lowering of taxes. While 1 influencer said turning India into nan “taxation capital” of nan world is not nan answer, different pointed retired really astatine nan extremity of their services, nan net people pays much successful taxes than nan savings they accumulate. Yet different influencer said that Indian taxes are 1 logic why a batch of well-earning group time off nan country.

Wisdom Hatch laminitis and finfluencer Akshat Shrivastava said nan system is dying and talking astir nan country’s GDP won’t help. He suggested 3 things that tin beryllium done instantly to amended nan situation: lowering taxes, widening nan taxation base, and giving job-linked incentives to companies. 

Shrivastava said location should beryllium an contiguous trim connected GST and that 15 per cent should beryllium nan maximum slab. He suggested widening nan taxation guidelines and including BCCI and IPL, which he said could bring successful Rs 6,000 crore of further tax. He besides said nan authorities should connection 0 per cent taxation benefits for startups if they employment a definite number of people. 

“Taxing group to death. And, making India a taxation superior of nan world is not nan answer,” he said. 

Another influencer who has been vocal against India’s precocious taxation said group salary complete Rs 2.5 crore successful nonstop and indirect taxes passim their career, while their full properties and savings do not moreover touch Rs 1 crore. “This exposes nan sadistic reality, taxpayers are squeezed barren but get almost thing successful return. It seems nan authorities believes group are calved successful India only to salary taxes and suffer,” he said.

Investor and trader Jose Paul Martin, comparing nan taxation for individuals and businesses, said: “There are galore things you request to understand. And 1 specified point is that nan authorities is milking you barren arsenic an individual. You get nan bad extremity of nan stick.” 

He said individuals salary almost 25 per cent of their income to nan government, without moreover including GST. If arsenic a personification earning Rs 5 lakh, your expenses are Rs 1 lakh, past you are paying much than that – Rs 1.3 lakh – to nan government. “And we haven't moreover factored successful GST connected nan equipment & services you salary pinch immoderate is near complete from paying nan govt,” he said, adding that 1 would beryllium amended disconnected starting a company.  

During nan 2025 Union Budget, Finance Minister Nirmala Sitharaman announced that location will beryllium nary income taxation payable up to an income of Rs 12 lakh nether nan caller regime. “This limit will beryllium Rs.12.75 lakh for salaried taxation payers, owed to modular conclusion of Rs. 75,000,” she said, adding that nan caller rates will trim taxes connected mediate people and time off much money successful their hands.

The taxation complaint building was revised arsenic below:

Rs 0-4 lakh – NIL
Rs 4-8 lakh – 5%
Rs 8-12 lakh – 10%
Rs 12-16 lakh – 15%
Rs 16-20 lakh – 20%
Rs 20-24 lakh – 25%
Above Rs 24 lakh – 30%

Published on: Apr 28, 2025 4:24 PM IST