Fear of Income Tax | Podcast ~ Sujit Bangar @TaxBuddy​

Sujit Bangar is a Harvard Business School graduate who worked at senior levels in the Indian Revenue Service for 13 years before resigning as Joint Commissioner at age 35. In India, income tax is levied by the government on the income earned by individuals, companies, and other entities. The income tax system is progressive, meaning that higher earnings are taxed at higher rates. The tax rates and the tax structure vary depending on the type of taxpayer (individuals, companies, etc.), income levels, and other factors. Income Tax Return (ITR) in India is a document that individuals, companies, and other entities file with the Income Tax Department to report their income, expenses, deductions, and taxes paid for a specific financial year. It is mandatory for individuals and businesses earning taxable income to file an income tax return (ITR). Benefits of Filing an Income Tax Return: Claim Refunds: If excess tax has been deducted or paid, filing an ITR is the only way to claim a refund. Carry Forward Losses: Losses from capital gains or business income can be carried forward to set off against future profits. Loan Applications: ITRs are often required as proof of income while applying for loans or visas. Legal Requirement: Filing an ITR ensures compliance with tax laws and helps avoid penalties. Timestamp 00:00:00 Intro 00:00:48 Sujit Bangar Life Journey 00:05:49 All About taxes 00:52:22 TaxBuddy 01:01:33 Ending Let’s connect online: 📱 Instagram:   / focuspathofficial   😄 Facebook:   / focuspathofficial   🌐 Website: https://www.focuspathofficial.com