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Listen "TE1 - A Review of the Tax Landscape in India"
Episode Synopsis
In this debut episode of "The Private Office Podcast: The Tax Experience." we delve into the tax landscape in India. Join host Adhitya Srinivasan and esteemed guest Mr. J.B Mohapatra, former Chairman of the Central Board of Direct Taxes (CBDT), as they explore the various facets of India's tax system. From understanding different types of taxes to uncovering hidden charges, revenue sources, and taxpayer demographics, this episode offers a comprehensive overview. Discover the mechanics behind tax rates, surcharges, and add-ons, and gain insights into the historical shifts and significant impacts on the economy. Whether you're a tax enthusiast or simply seeking a better understanding of the tax landscape, this episode is a must-listen. Tune in and gain valuable knowledge to navigate the world of taxation in India.
Join us on "The Private Office Podcast" and visit our website for more episodes and resources: https://tpoadvisory.com/
For inquiries and feedback, please email us at [email protected]. Don't forget to subscribe and leave us a 5-star rating if you enjoy our podcast.
Timestamps:
(00:00) Intro
(00:46) What is a tax?
(01:16) Various kinds of taxes in India
(06:36) ‘Hidden Taxes’ and the effect of inflation
(13:03) Trends of revenue - what do they tell us?
(19:28) How is public expenditure funded?
(22:55) What are non-tax revenues?
(25:32) The Fiscal Responsibility and Budget Management Act, 2003
(28:21) Auction of public assets and the National Monetisation Pipeline
(35:25) Is the Government of India becoming smaller?
(36:12) Taxpayer statistics
(40:13) Why do we have so few individual taxpayers in India?
(44:24) Geographical spread of tax revenue in India
(47:42) Taxing powers of the Centre and the States
(51:31) Can States fund their own expenditures?
(55:53) The Politics of Taxation
(1:01:23) Difference between Effective Tax Rate and Marginal Tax Rate
(1:03:50) Did India really have a marginal tax rate of nearly 100%?
(1:06:39) Surcharge and Cess
(1:12:54) Where can you find info about tax rates, surcharge and cess?
(1:15:14) Examples of tax policy changes that have had a cascading effect on the economy
(1:15:42) Zero Tax Companies
(1:16:52) Sections 115BA and 115BAA
(1:18:34) Updated returns
(1:20:22) Further reading
Join us on "The Private Office Podcast" and visit our website for more episodes and resources: https://tpoadvisory.com/
For inquiries and feedback, please email us at [email protected]. Don't forget to subscribe and leave us a 5-star rating if you enjoy our podcast.
Timestamps:
(00:00) Intro
(00:46) What is a tax?
(01:16) Various kinds of taxes in India
(06:36) ‘Hidden Taxes’ and the effect of inflation
(13:03) Trends of revenue - what do they tell us?
(19:28) How is public expenditure funded?
(22:55) What are non-tax revenues?
(25:32) The Fiscal Responsibility and Budget Management Act, 2003
(28:21) Auction of public assets and the National Monetisation Pipeline
(35:25) Is the Government of India becoming smaller?
(36:12) Taxpayer statistics
(40:13) Why do we have so few individual taxpayers in India?
(44:24) Geographical spread of tax revenue in India
(47:42) Taxing powers of the Centre and the States
(51:31) Can States fund their own expenditures?
(55:53) The Politics of Taxation
(1:01:23) Difference between Effective Tax Rate and Marginal Tax Rate
(1:03:50) Did India really have a marginal tax rate of nearly 100%?
(1:06:39) Surcharge and Cess
(1:12:54) Where can you find info about tax rates, surcharge and cess?
(1:15:14) Examples of tax policy changes that have had a cascading effect on the economy
(1:15:42) Zero Tax Companies
(1:16:52) Sections 115BA and 115BAA
(1:18:34) Updated returns
(1:20:22) Further reading
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18/07/2023
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