There are more than 15 specific changes that took effect on April 1st, and most people will only discover them when they file their tax return next year — by which point it'll be too late to plan.

I'm going to walk you through every single change —

🧵🧵 1/

The Income Tax Act, 1961 — the law that governed how India taxes income for 65 years — is gone. The new Income Tax Act, 2025 is now in force.

For example, If you've been referencing '80C' or '80D' in conversations — those section numbers are different now. 80C deductions are now under Schedule XV read with Section 123.

A few people asked me to share my experience in Baku (I’m not lying ok).

So here is how it went -

Flights -

There is a direct flight from Delhi through Azerbaijan airlines. Unfortunately I didn’t take that. I took air Arabia.

Indigo is starting flights from this month and fares are as cheap as 13,000.

Some thoughts on how I like to spend money -

1. Buy durable stuff

Spend money on things that last very long.

For example, my wallet is 5 years old and counting. Buy things that are built to last. I use the slim fold wallet that my wife gifted in 2018. 2. Buy quality when it comes to things I use daily.

A good chair & a good mattress are some examples. No compromise on quality for things that have long term impact on health. I have a Featherlite chair and a standing desk.

Good footwear is another example. Nike, Birkenstock.

Darren Hardy, the “Master of Influence” out actionable ideas to build great habits.

Here is a 🧵on what I learnt from the book “The Compound Effect” & the ideas I’m trying to implement.

You might need to make some notes - Success is not about doing five thousand different things well. It is about doing the right things well five thousand times over.

Something we hear regularly but fail to implement. I thinking picking 2-3 areas and focusing on them should be a good idea.

There are lots of free insurance covers that most of us are not aware of.

You may have free -

👉 Life insurance
👉 travel insurance
👉 accidental insurance

This could be in some form or other.

Here is a thread on what I know so far 🧵🧵 Life Insurance Cover Under Employee Deposit Linked Insurance Scheme -

If you are a salaried employee and have EPF benefits, you are in a unique position to enjoy free life insurance coverage under the Employees’ Deposit Linked Insurance (EDLI) scheme.

Risk cover is essential in any financial plan and I believe it should a top priority.

One of the parts of risk cover is getting a health insurance.

A long thread on things that you must know about health insurance that will help you navigate it better . A. First key step is to understand that you need a health cover apart from what has been provided by your employer.

Reasons -

Starting a playlist on YouTube to share short bites on personal finance myths, money saving hacks and other things that’ll help you think better about money.

Follow here -

Personal finance in 60 seconds or less youtube.com/playlist?list=…

Time to do it.

Notes from @morganhousel 's "Psychology of Money" with my commentary.

This is going to be a long one. Brace yourself.

👇👇👇 "Money has little to do it how smart you are and a lot to do with how you behave."

Take your call.

Be rich and wealthy.

Or

Be rich and poor. Really poor.

Are you happy and satisfied with the job you do currently?

If not, what are the reasons you are stuck? Those voting unsatisfied and stressed, a comment would be helpful to understand the dilemma :)

Notes from the book - Deep Work by Cal Newport

amzn.to/3hHfTHD Deep work is need to survive in this attention deficit world.

Deep work could be a burden but it's needed to make useful contributions to the world.

Do you need reasons to hoard some cash?

Let me give you some.

//Thread// Cash is priceless. It doesn't matter if the yield after inflation is negative.

Cash is an option on the future.

My cash holdings?

55%

Any money I make from Gumroad goes into buying more books and learning more.

Pricing of my products is enough to do the talking.

Help me buy a book :)

gumroad.com/contrarianlivi… If you don’t want to pay, there is a free product for everyone.

If you don’t know your financial status, it’s a great place to start.

gum.co/feYODg

Let’s play a game.

I have a collection of 100s of amazing quotes.

For every like, I’ll share a quote below.

Let’s go. I’ve often said that I wished people could realize all their dreams and wealth and fame, so that they could see that it is not where you are going to find your sense of completion.

Jim Carrey

Some notes and related thoughts from @morganhousel's post -

collaborativefund.com/blog/let-me-co… "Building wealth has little to do with your income or investment returns, and lots to do with your savings rate."
@morganhousel

An average earner can be rich in the long term if his rate of savings is high.

What matters is how much you save and not how much you earn.

You think smart people are smart investors?

You’re wrong.

Newton was one the smartest people in human history but a pathetic investor.

//Thread// Newton was a wealthy man. A cautious investor.

He had a lot of investments in government bonds which would give him a regular stream of income.

How did Seneca follow stoicism, enjoyed the upside of wealth creation and made himself anti fragile.

//Thread// Seneca was among the wealthiest people in the Roman Empire.

He was also one of the greatest practitioners of the stoic philosophy.

Why should you call yourself "retired" at any point in life?

What are you retiring yourself from?

What does retire mean to you? Merriam Webster dictionary says -

"to withdraw from one's position or occupation : conclude one's working or professional career"

Are you really concluding your working career?

merriam-webster.com/dictionary/ret…

How did I create my first $100k?

//thread// I always had a habit of saving money.

I started earning a stipend at the age of 18 and would save almost entirely since I would live with my parents.

A thread on emergency funds.

Emergency fund is for emergencies like job loss, high hospital bills. Not to celebrate christmas.

contrarianliving.substack.com/p/what-are-eme… Size of emergency fund depends on multiple factors like net-worth, sources of income, debt-equity ratio, lifestyle, dependents etc.

contrarianliving.substack.com/p/factors-dete…

What is personal finance?

It is the management of one’s finances to cater to your immediate needs and provide for your future needs. It is an answer to key questions like -

How much to spend?

How much to invest?

Where to spend?

Where to invest?

How much risk should you take?

Are you doing the right things to meet your financial goals?