Comments by "M Shastri" (@libshastra) on "Income from digital assets taxable even today, says Revenue secretary Tarun Bajaj" video.

Good riddance Retrospective Tax. It was one of the many abuses by the UPA govt and it wouldn't be wrong to call it the Shah Bano of tax laws and policy. It is kind of disappointing the revenue secretary avoided the questions around Income tax, primarily the new regime. It is a good scheme on paper however, it needs a lot of tweaks to make it feasible to move folks into the new regime. Also, I am sure the the revenue secretary is thinking to expand the income tax base as the economy picks up, wish he gave some indication of this. It is very abysmal that our income tax collection is at a low single digit percent. Income tax is a very equitable form of taxation compared to indirect taxes.
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