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Manan Mehta Profile picture
@manansmehta5
Aug 22, 2021 • 33 tweets • 10 min read • Read on X
Here's a master thread of threads on all things tax and finance!

Everything you need to know in one place 🧵

Please retweet and share 🚀
1/ What is income tax? Why do you have to pay tax at all?

Income tax 101 for beginners

2/ Tax filing websites are excellent.. if you know what you are doing.

Here's 9 times you might want to avoid a tax filing website.

3/ Paying advance tax can actually save you money. Here's how

4/ The pain of choosing an ITR

Next time you're confused about whether you should file ITR 1 or ITR 2 or ITR 3 or ITR 4, this is all you need

5/ House rent allowance master thread

Use HRA for tax planning?

6/ Tax saving investments - 80C

Don't be confused next time someone asks about the investment declaration. Here's all the investments you can make to save tax.

7/ Medical insurance can also save you tax.

Here's how you can claim a deduction under 80D for mediclaim.

8/ Gifting money to a relative? Pay no tax

9/ Have relatives in the US? Here's how you should plan your gifts to ensure minimal tax and reporting

10/ Capital Gains cheat sheet? We've got you covered

11/ A comprehensive guide to tax for freelancers

This applies to all contractors, freelancers and remote workers. Thank us later :)

12/ The legend of Section 44ADA -

Here's how you can use the presumptive taxation scheme to effectively half your tax rate.

13/ Use a letter of undertaking to save on GST

Here's everything you need to know about an LUT

14/ Trading in futures and options? There's a peculiar tax problem you need to know about.

Tax audit might become applicable in a lot of cases.

15/ Looking to purchase a property?

TDS implications are important to remember.

16/ Selling your property? It can be stressful.

Here's how capital gains works (and pro-tips on how you can reinvest the money to save tax)

17/ Planning to leave India soon? Here's a checklist for you.

18/ Returning to India soon? We made a checklist on all the points you need to keep in mind.

19/ Returning from the US? This tax saving maneuver might save you thousands of dollars in tax.

20/ How does a Double taxation avoidance agreement (tax treaty) work?

It's not a magic wand - but it does help!

21/ Receiving RSUs as part of your salary? These are treated slightly differently from regular Indian ESOPs.

22/ Want to understand the EPF component in your salary?

These 4 points tell you all you need to know.

23/ Clubbing of income - The perils of gifting money to your spouse or children.

For more such threads of finance and tax, follow @manansmehta5 🚀

Lots of threads still on the way 😉
24. Crypto compliance 101. This one's for all the beginners investing in crypto.

#Bitcoin #ETH

24. Crypto compliance 101 - Everything you need to know.

25. What to do if you accidently made Intra-day trades?

How to navigate filing an ITR:
26. Universal basic income might be a fundamental change to how human society operates.

And it may be humankind's biggest achievement

27. A lot of people are considering investing through @joinrepublic. Here's an analysis from an Indian perspective:

28. Are you an NRI looking to transfer money overseas? Don't fret when a bank asks you for a 15CA and 15CB:

29. If you're making investments overseas, you should know about the Liberalized Remittance Scheme.

Don't forget to account for TCS when you do your workings 👇

30/ A primer on the Bitcoin Whitepaper and why you need to pay attention to #Bitcoin

• • •

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More from @manansmehta5

Manan Mehta Profile picture
Jun 8, 2022
Credit cards to be linked to UPI soon.

Here's what this means for you - a short thread 🧵
1. Until now, UPI was linked only to debit card.

Now, UPI will can be linked to credit cards - starting with RuPay cards

(need to get myself a RuPay card :p)
2. This can be big - there have been tons of times when UPI is more convenient but I don't want my bank account to be debited immediately.
Read 9 tweets
Manan Mehta Profile picture
Jun 1, 2022
WhatsApp Business is bigger than you think - WhatsApp is close to replacing text messages for good.

Here's how - a thread 🧵
1/ WhatsApp is in talks with Bharat Petroleum Corporation Limited (BPCL) to replace text messages.

This would mean that the 85 million users who reach out to BPCL for LPG supplies could now be doing it via WhatsApp Business.
2/ In a highly unusual transaction, WhatsApp paid BPCL INR 1 crore to perfect its WhatsApp Business chatbot.

Now, BPCL is planning to integrate its UFill app with WhatsApp Pay as and when it’s launched for merchants.
Read 12 tweets
Manan Mehta Profile picture
May 24, 2022
Spotify is getting Indianized.

Here's how Spotify avoided the "Netflix" problem - a thread 🧵
1/ Subscription services are struggling to crack India. Netflix halved it's pricing and still fell short of its own
ambitions for India.

Spotify, meanwhile, is doing everything it can to capture this price sensitive Indian audience.
2/ Spotify is stepping up it's game in regional content
its latest campaign prominently features regional hits and targets youth.

While paying subscribers have doubled over the past year, it's still likely miniscule since Industry average for paying subscribers is 1% of MAU.
Read 12 tweets
Manan Mehta Profile picture
Feb 2, 2022
Now that the dust has finally settled on Budget 2022, let's break down the crypto tax and what that means for everyone.

We've spent the last 24 hours breaking down the Finance Bill 2022 and here's what we found.

Crypto tax - a thread 🧵
1/ You've all seen the news - there's a new tax introduced on cryptocurrencies in Budget 2021. How does this affect you? Is this good news or bad news?

Let's get into it.

Full article below:
2/ Virtual Digital Asset 🪙

Virtual digital assets have an official definition now. Broadly, here’s what it includes:

- All cryptocurrencies (whether on private or public blockchain)
- All NFTs
- Any other digital asset that the Government may notify
Read 44 tweets
Manan Mehta Profile picture
Feb 1, 2022
Budget 2022:

A master thread - Let's go 🚀

Will cover all things that matter for individuals and try to simplify things.
#Budget2022
Market movements after budget from @deepakshenoy

Conclusion - Probably nothing. Markets are unpredictable 🤷🏻‍♂️

New rules for foreign retirement accounts were expected last year.

Introduced in Budget 2021 but they probably forgot about it? 😂

Let's see if there's anything this year.

Read 38 tweets
Manan Mehta Profile picture
Jan 12, 2022
How are investments in REITs taxed in India? 🏢

With multiple REITs available now in India (Embassy, Mindspace, Brookfield), you really should understand the tax implications on investing in REITs.

A Thread 🧵
1/ Distributions from REIT:

A REIT can distribute money to you in the following forms:

•Dividend
•Interest
•Amortization of debt
•Any combination of the above
2/ The REIT will provide you a Form 64B at the end of the year. All you have to do is pick up these numbers and plug them into your ITR.
Read 11 tweets

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