Mayank

Student forever | Loves Cricket | Loves Travel

[Ankit Pandey @iamankitpande]

Stop glorifying rental income as passive income.

In today’s time, if you invest ₹80 lakhs into a flat in Mumbai and give that flat on rent, there is a high chance you will lose your mental peace.

Same thing is happening with me right now.

I have a flat in Mira Road which is on rent. Today the electricity office called me and said they may cut the meter because the tenant has not paid the electricity bill on time.

The bill is around ₹7000.

Then the tenant started arguing with me saying there is some problem in the meter and asking how the bill can be so high.

I told him, you are using AC, induction, and multiple electric appliances daily, obviously the bill will come high. Then he again started saying, “We do not use that much electricity.”

At one point, being a landlord starts feeling like a full time stress job instead of passive income.

Sometimes I genuinely feel it is better to sell the flat and invest those ₹80 lakhs into SWP or index funds.

At around 12 percent returns, you can take nearly ₹70k monthly for 30 years peacefully, and even after 30 years you may still have around ₹2.6 crore left, which is probably more than the future value of that flat itself.

No tenant drama. No electricity arguments. No maintenance stress. No society headaches.

People talk a lot about return on investment.
Very few people talk about return on mental peace.

Real estate owners, tell me honestly.
Is rental income still worth the stress today?

[Internal Tech Emails @TechEmails]

Sam Altman texts Mira Murati

November 19, 2023

[Supreeth Kashyap @supreetkashyap]

I was very happy when Meta finally gave us a credit line after a long time. It was much needed.

But now comes the frustrating part.

We received the monthly invoice on 2nd May, and within 24 hours, we completed the payment. Yet even today, the ad account remains blocked from running ads. It’s been more than 72 hours.

This is the sad reality with Meta Ads. The platform is so massive and monopolized that issues get solved when they want to solve them, not when a client urgently needs support.

And this isn’t even some rare issue. Over time, I’ve seen a few very basic problems take never-ending time to get resolved.

[Sanjay Jha @JhaSanjay]

THE TRUTH ABOUT #DEMONETISATION AND #DHURANDHAR . INDIA LOST 2% of GDP WHICH WAS APPROXIMATELY RS 250,000 CRORE WITHIN A YEAR. WORSE, THE SLOWDOWN CONTINUED FOR LONG AFTERWARDS.

If it’s true that this propaganda extravaganza has made Modi look like a hero because of demonetisation, then, ladies and gentlemen, you should demand your money back. Demonetisation is the biggest post-1947 disaster.

Did demonetisation stop terrorism ( Pulwama, Pahalgam etc happened under Modi government), counterfeit currency, black money, lower cash circulation??? It was voodoo economics.

Dr Manmohan Singh called it “ organised loot and legalised plunder”.

THAT is a collective insult of India’s intelligence. They are conning you, these movie mogul’s making millions off you. Bollywood is reduced to becoming a Nazi style propaganda factory of the BJP.

Go watch IKKIS instead.

[Rahul Chowdhri @rchowdhri]

For folks stuck in Dubai with Indian passport, one option is to get out via muscat. Flights to India are on from there. Few tips 1) if you have US/UK visa and Indian passport, Oman visa is on arrival. Else you have to apply for evisa online 2) you book flight online to any city in india from Oman, 3) book a cab on careem/ uber from Dubai to Hatta border on UAE side. Keep 2 hours for this, 3) get off there, get uae immigration done there (there is no vat refund on this border), 4) a bus from uae will take you across to Oman and it’s complimentary, 5) get out now, a different bus takes you over across Oman. They ask for 50 AED/ person in cash, 6) this bus takes to Oman immigration, 7) once u clear Oman immigration, same bus takes you to another place where you take luggage down and get checked, 8) put luggage back and same bus takes you to a near by petrol station and drops you off, 9) either pre book a cab to muscat from there or take a cab real time from petrol station. There are enough cabs waiting here. Bargaining will happen. ATM is there for any cash you need to pay to the cab. Overall keep 2 hours for the immigration clearance process even with no lines, 10) either take a hotel in muscat or go directly to the airport. It’s about 4 hrs to muscat side of Hatta border. 11) we are just reaching muscat as i type this. Writing before the trip is over in interest of time if people are confused. Etihad has restarted some flights, so you can wait for that too if you are not in a hurry

[Sidharth Shukla @sidhshuk]

UP drivers at their best. First cause the accident and then not even stop. Retards.

#Uttarakhand #tourism

[Nalini Unagar @NalinisKitchen]

Name: Rajendra Patel
IAS: 2015 batch

He literally created a fixed bribe menu card for changing the purpose of land from agriculture to non-agriculture, asking a bribe amount of ₹10/sq.mt. The total bribe amount was over 10 crore.

Distribution of bribe money
Collector: 50%
Additional Collector: 25%
Mamlatdar: 10%
Deputy Mamlatdar: 10%
Clerk: 5%

The ED has expressed the possibility that the scale of this scam could reach approximately ₹1,500 crore.

[Neil Borate @ActusDei]

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.

[Pratik Agarwal @_pagarwal]

The next decade of India is not incremental.

It is Kraantikaari.

And if you are in venture or startups, this is your moment.
Because the future of India is powered by startups
and you have not seen anything yet💥

16/n

[Arpit Sharma @iArpitSpeaks]

India definitely needs a robust Traffic Education system beyond just explaining traffic light colors.

Road etiquettes, defensive driving, pedestrian rights!

[Dr. Nikhil @DrNikhilMD]

Today in my OPD a 50 year old patient came.

Pt: “Sugar ki dawai likh do.”
Me: “Sugar kab se hai”
Pt: “15 saal se”
Me: “Kaunsi dawai le rahe ho”
Pt: “Koi dawai nahi le raha… kaafi time se”
Me: “Kitne time se”
Pt: “10 saal se”
Me: “Kyunn”
Pt: “Ayurvedic le raha tha”

Me: “Sugar last kab check kiya tha”
Pt: “Saalo ho gaye”

On asking further he had symptoms suggesting neuropathy gastroparesis and even some pedal edema possibly early nephropathy.

I advised basic tests like HbA1c FBS PPBS Urine ACR KFT and Lipids.

Pt: “Test west rehne do sir. Faltu kharcha karwate ho. Bas strong wali dawai likh do aur Mai khate rhunga.”

I explained that it does not work like that.
So many years of uncontrolled sugar damage nerves, kidneys, heart aur nuksaan already dikh raha hai.

He was not interested in listening.

I finally checked an RBS just to get some baseline.
It came 493.

I again tried to explain him Ki sugar level jyada hai ek bar thik se evaluate krwa lo but he said
“Aapko dawai likhni hai to likho nahi to fee wapas kar do. Main kahin aur dikhwa lunga.”

At that point I knew I could not prescribe blindly and he did not want proper evaluation & follow up.

To avoid unsafe care I asked my assistant to refund him.

And was I right or wrong?

Honestly I feel I did the only safe and ethical thing because treating a patient without proper assessment is far worse than stepping back when they refuse necessary care.

What's your take on thisthis

[Ravi Handa @ravihanda]

For those who think IIT-IIM folks make very high salaries in India, nothing can be farther from the truth.

Yes - some lucky / talented ones do.

But a significant portion of them are in the 50LPA to 75LPA range with 15-25 years of work-experience.

[Ravi Handa @ravihanda]

Job market is brutal right now.

[Jayant Bhandari @JayantBhandari5]

High-tech garbage disposal of the Indian Railways.

[Ramesh Srivats @rameshsrivats]

I think the difference between a developed country and an undeveloped country is not income inequality.

It is power asymmetry.

In undeveloped countries, people in government, be it politicians, civil servants or judiciary, have an extraordinary right to trample on citizens and their rights.

That's the problem in India today.

Call it VIP culture. Call it unaccountability. Call it arrogance. In fact, call it toll exemptions, security clearance, whatever.

It all stems from a core belief that people in power are somewhat superior. So, they can get away with doing anything to people who don't have power.

The recent police videos and the SDM video are all examples of that.

It's only because of social media that these things even come to light - probably less than 0.001% of the daily sapping, brutal exercise of power.

So, if we want "Viksit Bharat", we need to do two things.

The first is, of course, financial growth, infrastructure, and all that.

But that still won't be enough.

We have to get rid of the power asymmetry. That will truly make a difference.

Less discretionary power, less perks, less privileges, less "exceptions". And more transparency thru social media.

We become a superpower when 1.4 billion people have power.

[Roshan Rai @RoshanKrRaii]

Navika wanted her blood

Arnab wanted her hanged

Chitra Tripathi wanted her paraded

More than half of India wanted her De@d, all because a political party was benefitting from this controversy and tragedy.

All charges on Rhea have been dropped & she has been given a clean chit.

Yet, None of these vultures had the decency to apologise or even report that she got a clean chit after getting TRP by making her villain for months.

Each and every such vulture should be dragged to court and made to publicly apologise.

[Sumedha Sharma @sumedhasharma86]

After halting for sometime and giving much required break #GurugramRains #gurugramrain is back I am already scared of morning. After contributing 60 percent of state income if #GurgaonRains terrorise us its high time to introspect. @cmohry @NayabSainiBJP #Gurugram #gurugramtraffic

[Ramesh Srivats @rameshsrivats]

I'm quite surprised that rain could create such traffic jams in Gurgaon in spite of preventive measures like changing the name to Gurugram.

[TheLiverDoc™ @theliverdoc]

I am sorry but none of them are really doctors.

[Fiza 🇮🇳 @hoorsheikh_fiza]

blood never boils since it is not by terrorists but by govt,we do not consider it killing.

Mumbai ranks world’s deadliest rail networks Deaths 2014–2024- 29,000
per year:2.6k

U chose to satisfy communal love rather than 4 development

Maharashtra:
chosen BJP for the last 15yrs