Sourya

Law students all over the country should understand that the point of Law School is not to memorize the Constitution and pass the exam. It doesn't matter if you can't recollect an Article. The point is to understand what the Constitution stands for, so the same can be defended.

Welcome to the Hunger Games - Indian Income Tax Version Every year the Indian State plays a version of hunger games with its taxpayers. Those who have made the mistake of earning RSUs (ESOPs) abroad by working in multinationals or those who have dared to invest abroad through entirely legal channels, trying to take some shelter from an ever-falling rupee, have to run the gauntlet of something called Schedule FA. This Schedule (along with other related parts like Schedule FSI) is an exam that only the most skilled CAs can pass - or they think they can, until the robot singing the song stops and a single foot has inadvertently moved ahead. You then get hit by the horrors of the Black Money Act. The funny thing is the real black money sits in crypto and that is way more relaxed in terms of reporting norms in Schedule VDA. So let's go back to the hunger games. You have to know first of all that even if you have disclosed your foreign assets or income elsewhere, it must also be present in Schedule FA. Not just present, but in the right way with things like date of investment, peak balance and other minute details correctly recorded. It must be in calendar year although everything else in the ITR is financial year. You have to ensure that the asset is disclosed in rupees using the SBI TT rate (which SBI itself doesn't actually put out). Your CA has to be smart enough to fetch the TT rate from some website the unofficially records it from SBI. If by some miracle you've been a class topper and filled every single detail correctly, you could still end up with a notice. Because 'the system' has flagged it. Most Indian citizens who invest overseas in listed equity have every intention of paying tax. There is a paper trail at every point - from the remittance to the actual investment with annual information sharing between countries. Sometimes, they make the mistake of thinking tax is payable when there is actually income (schedule FA applies even if you don't actually have any income from abroad that year) and fail to disclose it. If they don't 'do the needful' they are hit with a 10 lakh penalty if they're lucky and prosecution if they are not. In recent years, the State has waived penalty for small mistakes (up to Rs 20 lakh) but for many, the annual hunger games are a brutal as ever. As more and more people flunk the exam, the government has tried SMSes and 'nudge' to get them to pass. But here's a simpler idea. Just prefill Schedule FA and FSI using the info you get from foreign countries and let citizens 'agree' with the tax. Just as happens with the AIS for all other types of income. Alternatively give a relaxation from hunger games for those investing in listed equity - these are not the black money people. They're just trying to make a quick buck by scoring the next Nvidia or they actually work in Nvidia. Unless the State has every intention of playing these games so that scapegoats can be found, while politicians continue to sink black money into real estate and crypto without check. In that case, lose your best and brightest to Dubai, faster than ever.

People who don't understand the difference between en dash and em dash shouldn't really be calling other people's posts AI generated, simply cause it has one.

@malikgarv Maybe even 1% of subscribers renewing is fine for them. But ChatGPT is free for 12 months. Gemini for 18 (I think), and Perplexity again for 12. By the 12th month the entire AI Asst setup may change. Making non renewal of this redundant for the company. All assumptions here.

Waiting for the fun times where 12 months later, when ChatGPT Go plans end, and OpenAI realises that Indians won't renew or pay.

Grew up in WB. There were constant strikes almost every two weeks. Nothing really worked or got done. Kolkata seemed happier with nostalgia than progress. Havnt been there for the last few years, but we are massively better than where we were. Still a LOT to be done

😂😂😂😂😂

Think tanks are not for profit and run on donations and grants. Consultancy and advocacy firms are private companies which do research for their clients. Nothing wrong with the second, but it is important that the media makes the distinction to understand interest groups.

Today, A.B. Venkateswara Rao and other members of the Centre for Liberty met with Siva Shankar (IAS), the newly appointed Chairman of APSPDCL. During the meeting, we submitted substantial evidence detailing corruption and irregularities amounting to thousands of crores of rupees within APSPDCL. We have formally requested a comprehensive investigation into these issues. To address this matter publicly, we are organizing a round table meeting with representatives from various political parties and civil society organizations at the Tirupati Press Club, tomorrow at 11:00 AM.

@J0K3Roffl Wish I was that jobless. Unfortunately no.

Admin found 😆

My grandpa was a former commie who quit the CPIM coz of disagreements in the 1970s. He was beaten up with bicycle chains while he was returning from the school he taught at by his former comrades. When he ran against the CPIM as congress candidate in local elections (1/n)

The failure is that we don’t teach economics in high school and/or make it a required course in college. (Even UChicago does not make it part of the core.) If Econ 101 started earlier or reached more people, people would understand supply and demand. It is in those classes that you provide simple graphs *and* empirical evidence.

@mvallamp @Aditi_muses This is what we call isomorphic mimicry in policy. It's when tech folks looks at something which is working in another country and tries to copy past it in their country without checking for the institutional systems first.I understand this concept would be confusing to you.

@Aditi_muses @JoeBanerjee Pidiots, I studied Electrical Engineering and Power Systems and this is a legit strategy. Nest and other devices are part of the grid in the US and increase temperature of the unit in summer to reduce demand. Stick to writing word salads on Gender Dance theory etc.

Nice. One nation, one temperature. To be implemented through a new system of DPI with smart ACs, thermometers and electricity meters. To be called Air-as-Some-Service (AaSS). Govt to go around plucking out old ACs from your house for scrapping. /s (to be sure)

@paakarkai @IndLibertarians @libertypartyind More autowalls offering locker service = cheaper locker service. Why is there a complaint on that.

@IndLibertarians @libertypartyind He is 1 person now How long before it become more than 1 auto wallah When it become big and chaotic Are you going to fix it?

An entrepreneur sees a problem people are facing. Solves it . Makes money. Everyone is happy. But here comes the license raj shutting it down. This is exactly the sort of bullshit libertarians are fighting against. @libertypartyind

@anubhav2good @IndLibertarians @libertypartyind Did anyone lose possession or file a case? No. Everyone driving a car could potentially run over someone, should we seize all licenses?

@IndLibertarians @libertypartyind Think of it from the Police's point of view, one mistake or intentionally losing the possessions would be a big headache for them .

GOD DAMN IT!

A democratic Congress Party would parade Shashi Tharoor as an asset. But because Congress is a ghastly despotism whose primary function is to venerate a vile dynasty, it is savaging him for the sin of prioritising country over the family.

The Congress has the remarkable ability of making self goals. Rather than acknowledging the fine job Tharoor is doing at articulating Indian foreign policy (far better than the EAM who is out of laser eyes); they are taking jibes at him. A responsible opposition party would highlight the government’s foreign policy failures and say this is the foreign policy leadership we will bring, as opposed to deriding Tharoor and least of all at this juncture. But well, that’s why they are in opposition and keep the same poor communications team, who have shown time and again how bad they are.

Claims of heavy #explosions in #Udhampur are circulating on social media #PIBFactCheck: ▶️ The claim is #FALSE ▶️There have been no explosions in #Udhampur ▶️ These rumours are being spread to create #panic ▶️ Rely only on official government sources for accurate information #IndiaFightsPropaganda

Social media posts claims that #drones have been spotted in certain areas of #Jammu & #Kashmir #PIBFactCheck ✅ This claim is #fake. ✅ There is no drone activity in Jammu & Kashmir 🔎Stay vigilant. Rely only on official sources for authentic information #IndiaFightsPropaganda

@YashVrdn @IndLibertarians If this is the logic then you shouldn't be surprised why people on the other side think they won the conflict. It's cause they are also blindly trusting their Government. Loyalty doesn't exclude critical thinking skills. Else we are no different from our neighbor

@IndLibertarians Not if your country is at war

This sort of blind faith is extremely dangerous. No government in the world should be trusted blindly about any issue.