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The budget is around the corner and everyone is interested to know whether the Government will raise the amount of taxes or decrease it. Also, everyone wants to know about the various ways to reduce taxes. In this video, we will be covering these aspects in addition to Who has given the government power to levy and collect tax? How much tax can the government charge? and many more interesting facts are covered in this very special Republic Day Video which is a run-up video to the series of videos that I will publish in relation to Budget 2022.
What is covered?
00:00 - Start
01:32 - What are direct and indirect taxes?
04:22 - Who has the power to levy tax?
06:52 - What is the Seventh schedule of Constitution of India?
08:20 - How is budget passed in India?
11:21 - How is the Income Tax Act connected to the budget?
13:16 - How to save taxes?
18:22 - What are the Income Tax Slabs in India?
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