STOP Overpaying Taxes | Personal Finance Masterclass | Ft. CA Sahil Jain (Rank 42 in CA)

Video Description

Taxes can be confusing, but they don’t have to be. In this podcast, we break down everything you need to know about Income Tax, GST, and how Indian tax laws actually work, in a way that’s simple, clear, and easy to understand. From when a business should start worrying about taxes to what happens if you miss a filing, we explore real questions, real scenarios, and real stories. CA Sahil Jain joins us to share his journey of building a tax consultancy, bust common myths around taxation, and offer practical tips to help you stay on the right side of the law. We cover it all, Income Tax, GST, wedding gifts, UPI notices, foreign income, Input Tax Credit, and so much more. Whether you're running a business, earning from abroad, or just curious about how tax works in India, this podcast is here to help. Tune in, learn something new, and enjoy the show! BAD Podcast Clips: https://youtube.com/@AleenaRaisShowClips Instagram: https://instagram.com/aleena_rais_insta My English Course: https://aleenarais.com/ Chapter Markers: 00:00:00 - Intro 00:04:50 - When should a business start worrying about Income Tax & GST 00:07:35 - Difference between income and revenue 00:08:13 - New business earning ₹2 lakhs/month: Are there any resources to understand GST & Income Tax 00:10:15 - Can we handle tax compliance on our own, or is going to a CA the only option 00:13:39 - How Sahil Jain build his consultancy business 00:21:45 - How understanding Tax Laws helps people avoid legal trouble 00:25:07 - If you evade tax for a year, how long can you stay worry-free? 00:28:16 - Case where wrong tax knowledge got someone into trouble 00:32:36 - Input Tax Credit (ITC) in simple language with examples 00:34:37 - How much CAs charge for Consultation 00:37:58 - Why is foreign income taxed in India for Indian residents? 00:40:43 - What income Is taxed in India for non-residents? 00:45:40 - Are we paying double tax – Income Tax and GST? 00:50:16 - How can the government stop black money from rotating through real estate and gold? 00:58:20 - Why do people in Europe pay taxes happily? 01:02:34 - Are we paying too much tax in India compared to other countries? 01:08:25 - Are GST and other tax laws easy for businesses to follow? 01:13:53 - Removing Income Tax completely 01:18:50 - Best practices to protect yourself from notices and raids 01:21:34 - How to justify UPI Transactions if small businesses gets a notice? 01:25:53 - How people misuse agriculture & charity to evade tax, can govt stop it? 01:32:14 - As a tax professional, does Sahil Jain fear getting a raid or notice? 01:34:12 - What does tax law say about wedding gifts? 01:35:55 - Is it wise to use loopholes in the law to save tax? 01:39:14 - How does Sahil Jain feel about paying 50% of his income in taxes? 01:40:26 - Do CAs ever suggest tax evasion to their clients? 01:46:44 - How to find a good Tax Consultant? 01:48:33 - Safe limit to send money abroad without a tax notice 01:50:21 - End of the Podcast How to contact CA Sahil Jain: Whatsapp: 8929737672 Website: taxationwithsahiljain.com Youtube Channel: https://youtube.com/@TaxationWithCASahilJain?si=Jixxxg1za535kQum