Skip to main content

Golden Triangle of Finance !! An Idea !!





We all appreciate the hard work put in by Prime Minister Narendra Modi. I am blessed to be followed by him.and appreciate he acknowledges my advice always 

I always try and speak with people on ground and judge the mood. Also as a Finance professional I can understand the brilliant economic steps well balanced by control of fiscal deficit.

I understand that in current budget Mr Arun Jaitley had to walk on tight rope of deficit and tax exemptions.Now the high crude prices and MSP is also another worry and may work against government goal of fiscal prudence 

Although GST collections on monthly basis is around 96000 crores, government shall need around 1.03 lac crores in next 8 months to keep fiscal deficit under check 

 The collections may experience some setback with revision in rates.  It is not easy to change the mindset of many who spend on luxury items from dealers and do not go for invoice to save GST. 

 I understand that the government is doing needful checks and bringing guilty to books, however it is difficult to check every shop and buyer 

 It is also being proposed to give GST a boost by refunding the tax on digital payments. However the same is limited to Rs 100. For those who are splurging on luxury items will not bother for Rs 100 refund 

A small suggestion with which we can reap  triple benefits of huge revenue to government,Relief to middle class coupled with huge boost to consumption. I shall call it Golden Triangle of Finance.


" Splurge in luxury of branded clothes, watches, mobiles, laptop, travelling................... AND get Tax Relief of Rs 1 lac from income tax "


The caveat : Has to be for end user, digital payment and not for those claiming GST input credit.

This will change the entire mood of nation with huge boost to economy as well as GST revenues

 Check rough calculations for the same 


The above proposal can be adjusted as per various financial brains in MOF. This is just an out of box suggestion after the ground feedback

Let us all work together to make India Golden Bird again 

Comments

  1. Unknown3 August 2018 at 14:40

    Its a Marvellous idea with a win-win situation for all.👏👏👏

    ReplyDelete
  2. Unknown3 August 2018 at 15:35

    We discussed similer point in our pune meet that give some benefit in income tax

    ReplyDelete
  3. Unknown3 August 2018 at 17:00

    Good option, if it's implement will give good results

    ReplyDelete
  4. IPODOCTOR3 August 2018 at 17:03

    But this expenditure based exemption of₹1lakh will reduce investible surplus ,thereby reducing Saving rate, which is already falling..That will be catastrophic for fall in Investment..

    ReplyDelete
  5. IPODOCTOR3 August 2018 at 17:06

    This will be counterproductive.. Reducing Direct Tax with Indirect tax, is against cannons of taxation , as IndiretTax is never Equitable

    ReplyDelete
  6. Kiran Kumar A V3 August 2018 at 18:07

    Mam, I am not expert on this issue but from what i can understand from S gurumurthy sir, he says that savings will help india grow. He further says that it is infact savings which produced 9.5% growth.

    As you can understand economics better than me, please clarify will this not come against what s gurumurthy sir says.

    https://youtu.be/IvXkSkEappo?t=2069

    ReplyDelete
  7. Unknown3 August 2018 at 19:17

    Its a Very Good idea with a win-win situation for all.

    ReplyDelete
  8. Costman3 August 2018 at 19:50

    Keep minimum taxable income slab same as of now.
    Expand Slab limits.
    Change Income Tax Rate to start from 1%
    Followed by say 3,5,10,12.5,15,20,25%
    Total Tax slabs may be 5 to 8
    Maximum Personal Tax Rate 25%
    Encouraging compliance.
    Could you please calculate impact on change in Revenue from Income Tax ?

    ReplyDelete
  9. Unknown5 August 2018 at 19:07

    I think people having Rs 10Lakh income must be soending Rs. 1.00 lakh approx in trvelling cloth watches mobile or laptop for their own use or to gift in different occasions even today, They are buying it means they must be paying GST also on these items. So I could nit understand who will it help? Can you please help to to understand

    ReplyDelete
  10. Harshad11 October 2019 at 15:20

    On What basis to you propose to give the deduction of Rs. 1lacs.

    Harshad

    ReplyDelete

Post a Comment

Popular posts from this blog

Stay Invested with Indian Equities.

Let me start with my own start with equity and why I have most of my investments in Equity and have a full financial freedom, choice to stop working any day and a good corpus for my family. It was2001 and I was blessed with a boy.  Grandfather gifted a good amount to him. I invested half in RBI bonds and half in Indian Equity. Post 7 years. 10 lacs with RBI Bonds accumulated to 15 lacs , while equity fund made it to 70 lacs( thanks to that bull run of 2004). It wast that day and I have not invested a penny in fixed deposit. It has been equity all the way.  I always stay invested, continue with my sip, add more to corrections, increase SIp when corrections are major and show patience when markets consolidate and goes through time correction  Many Investors who have made good gains in Indian Equity are thinking of booking profits and may be trying to re enter on corrections or investing in other asset class. Wealth is created by staying invested and enjoying the power of co...
Post a Comment
Read more
Mutual Funds versus Monopoly Game – Decoding the Best Moves Mutual Funds versus Monopoly Game – Decoding the Best Moves Are you ready to roll the dice and learn about the fascinating world of investing? In this blog post, we're going to compare mutual funds with the classic board game Monopoly. Yes, you read that right – Monopoly! So grab your top hat, and let's dive in! First off, what exactly are mutual funds? Well, think of them as a diverse collection of investments, kind of like owning multiple properties in Monopoly. Instead of putting all your money into one house on Boardwalk, you spread it out across different assets like stocks, bonds, and more. This diversification helps reduce your risk, just like owning multiple properties protects you from landing on someone else's hotel! Now, let's talk about building wealth. In Monopoly, your goal is to buy properties, build houses and hotels, and collect rent from other players. It's all about generating passive inc...
Post a Comment
Read more

Sanjay Leela Bhansali distorting history

Mr Sanjay Leela Bhansali if I make a movie a decade later showing this accomplished director was a drug addict and used to beat his co actors on sets of course with a disclaimer that  this movie is a work of art and changes have been made to characters but use the name Sanjay Leela Bhansali How will you feel? Sanjay Leela Bhansali was born in the year 1963 in Mumbai. He was a student of Film and television Institute of India, from where he was thrown out after a spat with the institute’s director.  Bhansali is also the only filmmaker who couldn’t be bothered with authenticity, accuracy and other such yardsticks when it comes to creating cinema. Devdas He is the only filmmaker who could not only take Sarat Chandra Chattopadhyay’s much-loved parable  Devdas  and give it a saas-bahu serial makeover in the name of creative license. After all, in the dozen odd adaptations of the novel no one could come with the idea of putting Chandramukhi and Paro in t...
19 comments
Read more