They know the ground reality, they are just too stupid to increase tax revenue using creativity, imagination and vision for business. So they resort to tax terrorism and extortion.
Gr8 analysis. The government sometimes also violates the third law of motion by reacting in an opposite way but in an unequal proportion. The recent U-turn on lateral entry is an example.
I think there is a misunderstanding across the board on the mining tax. The laws by the states concerned passed such laws in 2005 after an earlier SC judgment said it was possible. However, there was a continuing dispute in the courts. Recently, after a great deal of delay SC upheld such levies. This is not retrospective but a delayed court decision. In fact, the companies concerned should have made some provision with mounting annual liabilities. Tata Steel for example has a cumulative liability of Rs 16500cr . They should have anticipated a possible adverse ruling and should have prepared themselves and informed the investing public suitably. This podcast is misleading on the subject
Agree with all your views on retrospective taxation. But I don't see why should govt save crypto investors in WazirX. Crypto is pure gambling, coz there is no underlying asset here. Govt was discouraging them, but they chose to take risk. Same with F&O. Now, people who were unhappy with SEBI chief admonishing their gambling behaviour, are now abusing her, using Hindenburg as an excuse. The only thing, govt should do is - cut petrol taxes, ffs ! And regulate the education industry, coaching mafia etc.
Crypto speculation is gambling. But it is not right to say that there is no underlying asset especially when talking about distributed ledgers such as ethereum, or Bitcoin that actually support business critical transactions. A crypto when mined is actually representative of the value associated with the compute involved to achieve immutability with respect to the respective consensus algorithms, a common misconception is that the ledger only supports its own crypto transactions, that's not true, the immutability can be used and is used for various networks which need Byzantine fault tolerance which has a lot of inherent economic value, because idellible recorded are infinitely more beneficial than corruptible records, and this will always remain the case until a compute break through can change the paradigm of brute force attacks, and such a break through would only come with the sort of leap promised by quantum computing based ASICs. You're doing grave injustice to the ecosystem of things that are enabled by Blockchain technology while focusing on the speculative aspect of crypto trading and scammy coin public offerings.
This analysis is as useless as the name "print" For this Company. Without telling the minute details of cases just making a case against government. Mistakes created - 1) retrospective in mining case is not really retrospective it is due to the law of judiciary where if it declares any law/ Judgement as unconstitutional then the corrected judgement app lies from the past date of Incorrect judgement. 2- court has said not to submit interest, only the principal amount. 3- I don't know which law empowered court to say that don't submit interest not principal. Again SC ki marzi 4- corporate Tax in USA is 30% in India it is 22% after rationalization. 5- 2019-20 corporate Tax cuts 6- government took step back on indexation as mentioned in budget. You have not mentioned it. 7- Income Tax can't claim Tax demand if 5 years are passed in Certain categories. There are Slabs, you mentioned it like generally. 8- still GST collection in Taxation is highest, which shows that poors (70% of India is) paying more taxes. 9- shows you are either fool or print have vested interest.
You couldn't say the truth fearing the kings in the Supreme Court of India ruling as they please, and ended up disinforming the lazy and less intelligent people who inhabit the planet and watch your program. The Government of India has begged the Supreme Court to make the ruling applicable prospectively, citing the reasons you have stated, hit to Industry and hit to PSUs but the judges ruled whatever they felt like. First of all, this common law system inherited from Britain, where judges run by case law and feel like whatever they think and in India, legislatures being a place for yelling and running to the well, banging benches, whistling etc. and walkouts and standing outside. The court has to FOLLOW THE LAWS and never even attempt to make laws or striking down laws on the books unless something is clearly against the Constitution, not interpretation. Because electoral politics is no perverse in India, unpopular decisions, like allowing homosexuality is left for the judges to make laws when Parliament can't act. There should be clear legislation on royalties and indeed states whose ground is rich in resources should get some royalty. It should have been a law passed by Parliament (not to curb state rights) and then state legislatures.
This government has amazing ability detach itself from ground reality.
They know the ground reality, they are just too stupid to increase tax revenue using creativity, imagination and vision for business. So they resort to tax terrorism and extortion.
You mean Modi?
After this article The Print might receive an IT notice for AY 360-359 BC 18% compounded ..
Print and,other bhakt channels have helped BJP score hatric. And Congress score below 100 .😮
If it at all was doable lol
@@Dadasahab1234congress is pro in this game of applying laws retrospectively
Gr8 analysis. The government sometimes also violates the third law of motion by reacting in an opposite way but in an unequal proportion. The recent U-turn on lateral entry is an example.
Yeah, heard of freight equalization. It's time the input states should get their dues.
Govt Can't learn. Because to learn also, one needs some brain.
Entire brain is with indi ,😮
Are you saying Modi has no brain?
I think there is a misunderstanding across the board on the mining tax. The laws by the states concerned passed such laws in 2005 after an earlier SC judgment said it was possible. However, there was a continuing dispute in the courts. Recently, after a great deal of delay SC upheld such levies. This is not retrospective but a delayed court decision. In fact, the companies concerned should have made some provision with mounting annual liabilities. Tata Steel for example has a cumulative liability of Rs 16500cr . They should have anticipated a possible adverse ruling and should have prepared themselves and informed the investing public suitably. This podcast is misleading on the subject
Head of government hasn't had any school experience, if that answers your question.
That was an awesome Segway from Einstein to this....
Kudos to the writer
What else can you expect from Nimmi thayi - irritable crone of Indian economy ?
The analogies keep getting better
Brilliant Segway on physics!!
Indian bussiness are dying slow death due ro almost muti tier tax saytem almost till 60 percnet
Agree with all your views on retrospective taxation.
But I don't see why should govt save crypto investors in WazirX. Crypto is pure gambling, coz there is no underlying asset here. Govt was discouraging them, but they chose to take risk.
Same with F&O. Now, people who were unhappy with SEBI chief admonishing their gambling behaviour, are now abusing her, using Hindenburg as an excuse.
The only thing, govt should do is - cut petrol taxes, ffs ! And regulate the education industry, coaching mafia etc.
Crypto speculation is gambling. But it is not right to say that there is no underlying asset especially when talking about distributed ledgers such as ethereum, or Bitcoin that actually support business critical transactions. A crypto when mined is actually representative of the value associated with the compute involved to achieve immutability with respect to the respective consensus algorithms, a common misconception is that the ledger only supports its own crypto transactions, that's not true, the immutability can be used and is used for various networks which need Byzantine fault tolerance which has a lot of inherent economic value, because idellible recorded are infinitely more beneficial than corruptible records, and this will always remain the case until a compute break through can change the paradigm of brute force attacks, and such a break through would only come with the sort of leap promised by quantum computing based ASICs.
You're doing grave injustice to the ecosystem of things that are enabled by Blockchain technology while focusing on the speculative aspect of crypto trading and scammy coin public offerings.
banana republic. No one should invest in India.
ThePrint, awesome video keep it up
This analysis is as useless as the name "print" For this Company. Without telling the minute details of cases just making a case against government.
Mistakes created -
1) retrospective in mining case is not really retrospective it is due to the law of judiciary where if it declares any law/ Judgement as unconstitutional then the corrected judgement app lies from the past date of Incorrect judgement.
2- court has said not to submit interest, only the principal amount.
3- I don't know which law empowered court to say that don't submit interest not principal. Again SC ki marzi
4- corporate Tax in USA is 30% in India it is 22% after rationalization.
5- 2019-20 corporate Tax cuts
6- government took step back on indexation as mentioned in budget. You have not mentioned it.
7- Income Tax can't claim Tax demand if 5 years are passed in Certain categories. There are Slabs, you mentioned it like generally.
8- still GST collection in Taxation is highest, which shows that poors (70% of India is) paying more taxes.
9- shows you are either fool or print have vested interest.
You couldn't say the truth fearing the kings in the Supreme Court of India ruling as they please, and ended up disinforming the lazy and less intelligent people who inhabit the planet and watch your program.
The Government of India has begged the Supreme Court to make the ruling applicable prospectively, citing the reasons you have stated, hit to Industry and hit to PSUs but the judges ruled whatever they felt like.
First of all, this common law system inherited from Britain, where judges run by case law and feel like whatever they think and in India, legislatures being a place for yelling and running to the well, banging benches, whistling etc. and walkouts and standing outside.
The court has to FOLLOW THE LAWS and never even attempt to make laws or striking down laws on the books unless something is clearly against the Constitution, not interpretation.
Because electoral politics is no perverse in India, unpopular decisions, like allowing homosexuality is left for the judges to make laws when Parliament can't act.
There should be clear legislation on royalties and indeed states whose ground is rich in resources should get some royalty.
It should have been a law passed by Parliament (not to curb state rights) and then state legislatures.