[SLK]

Originally Posted by ex-innova-guy

Loved the sarcasm!

But its quite sad too, how these people misuse statistics and touch the sensitive nerve of the tax payers.

2% of the population pays tax? Really, are you counting school going children and retired/ disabled people and people who are under the poverty line for calculating this! Shameful.

Then there are house-wives/ house-husbands, for whom the working partner earns and pays tax.

Then there are a lot of people who are not working as employed in their own name. i.e. Partners in partnerships, Directors in companies etc. where compensation is through profit shares and dividends or capital gains, their personal returns may or may not show taxable income, but they still pay more tax than salaried!

Then there is so much of the country under Agriculture. While I don't agree with not-taxing the rich farmers, we should be aware that India still produces just enough food to feed its massive population and this employs most people too.

These videos just try to bring out the sadist sentiment of the tax paying population! There is no escape really! It is our duty in a manner of speaking.

How many do you know who earn and do not pay tax as per deliberate govt. policy (ignore the ones who are committing frauds, they will have their day with so much digitisation)?

[digitalnirvana]

Originally Posted by digitalnirvana

How can an NRI get their form 26AS? I'm struggling with this and the registration option for NRI TRACES website shows 3 options none of which are applicable for me. Without the form I can't submit ITR. Any suggestions or advice please?

Appreciate any advice please, thanks!

[rx100]

Originally Posted by digitalnirvana

Appreciate any advice please, thanks!

Did you try directly from ePortal site of IT filing? There is an option to download Form 26 AS from eFile menu. It will take you directly to Traces site.

[poloman]

Originally Posted by SLK

But its quite sad too, how these people misuse statistics and touch the sensitive nerve of the tax payers.

I think much of the anger is arising from the diminishing ROI of the taxes you pay. I have paid tax at a rate of 33% with surcharges and cess. If this is put to good use I am OK with this. But again I have to spent close to 6L per year for a semi merit college seat for my daughter. No scholarships or support available. All parents are riled up with education and testing scams happened recently.

Medical expenses have risen exponentially. Even if you retire with 5Cr a medical issue can wipe that clean.

But the most disgusting part is poor infra and services. We are forced to pay even for water in the form of tanker. The condition of roads no need to even mention. The fuel, we buy at high prices is burnt on road in traffic jams. Taxes collected at western rates with condition of living worse than some African countries is the real cause of this upheaval.

[whitewing]

Originally Posted by SLK

But its quite sad too, how these people misuse statistics and touch the sensitive nerve of the tax payers.

2% of the population pays tax? Really, are you counting school going children and retired/ disabled people and people who are under the poverty line for calculating this! Shameful.

Rough numbers. Of the ~1.4 billion assuming half of that are of the working age, i.e. ~700million. Out of which around ~80million have filed their ITRs (and the majority are in the tax exempt category).

We should either assume we are a very poor nation (with some very rich individuals) or there is mass evasion of taxes.

[SLK]

Originally Posted by poloman

I think much of the anger is arising from the diminishing ROI of the taxes you pay. I have paid tax at a rate of 33% with surcharges and cess.

I completely agree with you. I was only trying to point out the dramatic play of words.

We pay more and more tax as our incomes rise and that 33/36% tax seems too much of a share for what we are getting.

In the recent years, the quality of infra has just gone down, every single project is a toll funded project and poorly designed than the projects in yesteryears. So something is terribly wrong somewhere.

Originally Posted by whitewing

Rough numbers. Of the ~1.4 billion assuming half of that are of the working age, i.e. ~700million. Out of which around ~80million have filed their ITRs (and the majority are in the tax exempt category).

We should either assume we are a very poor nation (with some very rich individuals) or there is mass evasion of taxes.

True, very poor. divide the country's Gross National Income (GNI) over this 700m people and no one will be in tax bracket. I know this is far from perfect calculation, but note that a significant part of GNI is contributed and retained by corporate entities and not population, hence what is left for the individuals is even lower.

Our GNI is $3.5 trillion and say working population 700m, you still get a $5,000 answer. Out of that many of the people talking cars on this forum would be contributing upwards of $50-100k.

Whatever be the calculation, we are a very poor country. In that taxing the rich can't be considered unjustified. But yes, our govt. machinery needs to be more considerate on how they use our limited money.

[digitalnirvana]

Originally Posted by rx100

Did you try directly from ePortal site of IT filing? There is an option to download Form 26 AS from eFile menu. It will take you directly to Traces site.

Yes, the Traces site login doesn't work if I use a virtual India VPN, and the NRI TRACES website doesn't allow to register. Caught in a loop of sorts.

[Dry Ice]

Originally Posted by digitalnirvana

Yes, the Traces site login doesn't work if I use a virtual India VPN, and the NRI TRACES website doesn't allow to register. Caught in a loop of sorts.

Short term solution is to take help from someone in the country. Maybe, do it over Google Meet, or similar, with screen sharing.

For next year, if none of the options to register apply to you, I think you can still pay some amount as self-assessment/advance tax from the ITR portal. It will generate the challan number, amount etc which you can use to register as option 2. The amount paid will get refunded once you file the ITR if you don’t owe any tax.

Option 2-Challan Details of Tax Deposited by Taxpayer ( i.e. Advance Tax, Self Assessment Tax, TDS on Property and TDS on Rent )

[dailydriver]

Originally Posted by mtripathi13

Regards

Quoting you to draw attention to the query.

New Tax Regime allows standard deduction of 50k and employer's contribution to NPS under 80CCD(2).

My employer (state government) or I have never included the actual sum contributed by the employer as part of my salary. Form 16 too doesn't mention the amount either as a credit for me or towards NPS. Can I still claim deduction under 80CCD(2)?

[ShreyG]

Originally Posted by poloman

I think much of the anger is arising from the diminishing ROI of the taxes you pay.

Honestly speaking. Never looked at tax deduction from an ROI point of view. It was more from a dutiful contribution toward nation building and progress POV where we can at least expect better infrastructure and overall physical security i.e. the armed forces and the police.
For the past few years however, armed forces seems to be the only somewhat acceptable expenditure from my taxes. Infrastructure across the nation is in absolute shambles (let's not look at the new highways since we do pay hefty tolls for using them), internal security is a joke (just look at the road rage cases alone and less said about the police honesty and efficiency, the better) and social security is loooong lost dream. . I just look at the senior citizens around me, who have diligently paid taxes for >40 years struggling for basic amenities and infrastructure.
Coming to education, housing and medical for the middle class, a good number of the law makers are in cohorts with the private service providers. Service from their government counterparts is bound to be pale and poor in comparison.
The frustration among my peer group is to the extent that we have started considering direct taxes deducted as very extravagant alms which are being doled in the form of free electricity, free bus services, monthly stipends, toll free travel for the poor and so on. This list is endless!!

[JayKis]

Originally Posted by digitalnirvana

Yes, the Traces site login doesn't work if I use a virtual India VPN, and the NRI TRACES website doesn't allow to register. Caught in a loop of sorts.

Please note that if you are still maintaining an Indian Bank account (like ICICI or HDFC), it should have a FORM26AS link which would take you directly to the TRACES website and display your FORMS. You dont need to register/login to access your Form26AS.

So if the TRACES website is accessible using VPN, please try the above.

If nothing works, please ask someone (trustworthy) in India to login into TRACES on your behalf, download the form and send you over email. Have done that for my father's friend.

[Babu R]

Please go to https://eportal.incometax.gov.in/iec/foservices/#/login. Login using your PAN and password. Under E-filing you will see Efile returns. Under this you will see 26AS. Once you click you will be taken to another portal for 26AS download where you can choose the assessment year and the download format. Let me know if it does not work.

Originally Posted by digitalnirvana

Appreciate any advice please, thanks!

[SomrajSG]

Add to that, irrational slabs of GST. Almost 200% tax on fuel, Tolls & what not.

Don't judge me, I do love my country. But..

I have only one life to live.

I moved out.

[clutchNgo]

Originally Posted by SomrajSG

I have only one life to live.

I moved out.

This.

I grew up broke so I was pretty much used to living frugally. But as I grew up and entered adulthood, I realized how tough life can be for someone who is born in a simple lower-middle class family. Add to this the fact that we were general caste, I decided to take a gamble and move out as well.

[thanixravindran]

I did the ITR filing today. It was smooth sailing all the way till e-verification. I have few thousand rupees tax interest on 234C to pay and this time after payment of the same, the website promptly returned to filing screen and auto added the SAT and filing is completed. Good that they fixed it this year

But even after a year, SGB interest still doesn't appear in AIS. It is a shame that RBI preaches to Banks but they don't even provide a consolidated SGB interest statement even if they couldn't report at PAN level to IT

Only other issue is couple of dividend income is not part of AIS. Only those 2 stocks are from BSE which didn't git reported and others which got reported are from NSE. Strange!