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)

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.

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.

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:

https://twitter.com/GalacticAdvisor/status/1488760420882006017?s=20&t=9eBogne24WiYRwBNJo85Lg

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 🤷🏻‍♂️

https://twitter.com/deepakshenoy/status/1488377631947235328?t=iXrj_wD96pB1484cQjsDVA&s=19

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

New issue of Sovereign Gold Bond starts today🏅

I've been asked the tax implications so many times, so here you go.

Here's a very simple cheatsheet - A thread 🧵

Retweet for karma 😇 🏅 Buy in primary issue, hold till maturity:
No tax on maturity

🏅 Buy in primary issue, sell in secondary market:
Capital gains tax applies

🏅 Buy in secondary market, hold till maturity:
No tax on maturity

Let's introduce you to the crypto world. And where to get started. I'm going to use stock analogies here.

I've spent over 100 hours dissecting the basics.

Here's a Crypto investing 101. A thread 🧵

Like and Retweet 🚀 1/ Indian exchanges:

Think of crypto exchanges like WazirX, Zebpay and CoinDCX as a broker-cum-exchange. I like to say this is Zerodha + NSE.

They allow you to purchase cryptocurrency on the exchange as well as act as a store of your cryptocurrencies.

I've been thinking about this for a while.

Is there a way we get around the fact that Bitcoin DOES NOT work in isolation? Bitcoin is (and probably always will be) valued in terms of another currency.

#Bitcoin #Crypto #Blockchain

1/n So you have an alternative to Gold - great! But is that all that Bitcoin can be?

Bitcoin does not seem like it can ever be used as a medium of exchange. For multiple reasons:

2/n

Been reading a ton about the Pandora Papers. Here's the thing - what rich people, politicians and cricketers may be doing might not be illegal.

Here's a Pandora Papers 101 📓

#PandoraPapers #tax 1/ There are at least 380 persons of Indian nationality in the Pandora Papers.

These documents relate to the ultimate ownership of assets ‘settled’ (or placed) in private offshore trusts.

Corporate mumbo jumbo is cut out. This looks at who is the real owner of an asset.

National Pension Scheme (NPS) is the new hot deduction everyone is talking about.

We've spent a lot of time dissecting #NPS. Here's everything you need to know.

A Thread 🧵

Like and RT 🚀

#NationalPensionScheme #Investing #PersonalFinance 1/ First up, here's a detailed article on NPS and why it might be good idea to start investing in an NPS:

thegalacticadvisors.com/post/national-…

Accidentally made Intra-day trades? 📉

This can happen. Here's how to deal with it from a tax perspective.

A Thread 🧵 1/ First up, why does this happen?

- You might think your stock broking app will just sell your old shares. This happens most times.

But if you purchase and sell the same scrip on the same day, it will be treated as an intra day transaction.

Is Universal Basic Income the future?

I've been doing some research on this for a while.

Here's a findings thread 🧵

Make sure you like and retweet 🚀 1. What is Universal Basic Income? 💰

Imagine a state where the Government covered your cost of living. What would you do? Would you would you still go to work? Go back to school? Not work at all?

This concept is called a universal basic income.

Excellent session from @SahilBloom today at @BuildBySTL.

Here's a thread on a few tips from Sahil.

https://twitter.com/nitprashant/status/1440706709215793155

1/ Keep asking why.

We're born as very curious individuals. Over time, we lose this curiosity because we're told 'that's how things are always done'

Keep asking why. The greatest builders keep asking why.

@elonmusk asked why is going to space so expensive - hence, @SpaceX

Planning to put some money in #Bitcoin?

Here's a crypto compliance 101 thread. 🧵

Go ahead - like and retweet 🚀 1/ You've read about the crazy gains people have made from Bitcoin.

A friend of a friend made lakhs of rupees by investing in Bitcoin and you want a piece of the action - before you start, it's important to understand how Bitcoin is taxed in India.

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

https://twitter.com/manansmehta5/status/1420590909897412614?s=20

Here's a full list of eligible investments under 80C.

A Thread 🧵 This is the most commonly quoted deduction. Everyone should know about this. The next time someone says have you used your 80C limit, you will know what they mean!

Maximum deduction per year: INR 1,50,000

There is a whole laundry list of eligible investments under 80C.

Planning to move outside India?

Here's 4 things we tell all our clients who plan to move outside India

A thread 🧵 1. Can Recent Immigrant continue to hold Indian Assets?

All kind of assets in India such as properties, bank deposits, stocks and securities, life insurance policies, loans, company deposits, debentures, bonds etc. acquired, held or owned by an individual...

Can you gift money to your spouse to use their lower tax slabs?

I've been asked this question at least once each week.

Here's a thread 🧵 In certain special cases income of another person is included (i.e. clubbed) in the taxable income of the taxpayer and in such a case he will be liable to pay tax in respect of his income as well as income of other person.

This is commonly called clubbing of income.

1/6

Tax filing websites are great.. if you know what you're doing.

We've had a lot of people come to us after they've been burnt.

Here's 9 reasons you want to stay away from a tax filing website.

A THREAD 🧵 1/ Small errors may lead to big tax outflows.

https://twitter.com/GalacticAdvisor/status/1294594508793892864?s=20

After over 500 conversations with diverse sets of people, here's a thread for the absolute income tax beginners.

INCOME TAX 101 - What is income tax and why?

A thread 🧵 1. What is Income Tax?

Let’s start with the basics. Tax is levied on any “income” earned by you. Income includes essentially anything you earn whether it is salary or business profits or interest or sale of stocks.