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Saved by @Kaps82472900

How to save taxes on the trading profits for an individual

4 Legit ways to retain most of the trading income: 🧵

Collaborated with @AdityaTodmal

 1. Divide your capital amongst your family members:

• Ensure they are not salaried employees as they might not be allowed to trade as per their employer's policy.

• Your family is your strength, not just emotionally, but financially too.
• E.g. your net taxable income works out to Rs. 50 lacs, as per the new tax regime, you are in the 30% tax bracket.

However, if you divide the capital amongst your family members in such a way that the net taxable income works out to Rs. 12.5 lacs per member (assuming 4).
This way the tax bracket gets shifted from 30% to 20%, clear saving of 10%
2. Expenses a trader can claim:

All the expenses directly related to the trading business can be claimed.

i) Rent Expense: If one has an office on rented premises, rent paid is a valid expense. However, you should have the rent receipts & rent agreement as valid proof.
If you are operating from a house which is rented you can claim the same on pro rata basis.

iii) Electricity Bills: Can claim electricity bills for the office. similar to rental expsnse if you are working from home, you can claim electricity expenses proportionally.
iii) Insurance Expense: Traders can claim insurance expenses on assets used for trading purposes.
iv) Repairs & Maintenance: Can claim expenses paid for repairs of the laptop or monitor, furniture, or any other equipment for business purposes.
v) Office Supplies: Stationery expense, refreshments expense, etc. is a valid expense.

vi) Subscription fees: Subscription fees for software or trading platforms is tax deductible. So if you are subscribing for Tradingview or iCharts etc, remember that it is tax deductible.
vii) Mobile & Internet Expense: Expenses incurred towards mobile bills & internet charges is deductible if the expense is incurred for business purpose.

viii) Fuel expenses: Fuel bills for your vehicle is tax deductible.
ix) Salary to employees: If you hire people for punching orders or for any research work, then you can claim those salary expenses. Pro tip: You can hire a family member whose income threshold is under 5lacs & can pay them a salary, which is a tax deductible expense.
x) Vacations, a.k.a. business trip: Your travel, stay at a hotel, and food bills can also be claimed to a certain extent.
xi) Depreciation: A non cash expenditure. Depreciation is claiming & providing for the cost of the asset as an expense over the life of the asset. IT rules prevail for the depreciation rates for high end computers, working desk, the car etc.
3) Set Off of Losses:

Set off of losses means adjusting the losses against the profit or income of that particular year. If you incur a loss in trading, you can set off that loss against any other business income.
4) Carry forward losses:

Losses in any year can be carried forward upto next 8 assessment years from the assessment year in which the loss was incurred.

Long-term (LT) capital losses can be adjusted only against long-term capital gains.
Short-term capital losses can be set off against long-term capital gains as well as short-term capital gains.

Last but definitely not least, you just need a decent CA to help you out with these things.
We have our upcoming workshop in Bangalore; if interested, then do check this out:

https://t.co/R1XefpjYby
If you enjoyed this thread here's another one:
https://t.co/YJBuaTyeY7
That's a wrap!

If you enjoyed this thread:

1. Follow us

@AdityaTodmal

&

@niki_poojary

For more threads on Price action, Option Selling & Trading strategies.

We've got you covered.

2. RT the first Tweet to share it with your audience.

I appreciate it!

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The most valuable aspect in trading you aren't using:

POSITION SIZING

Sizing is the key, you'll make big money only if you own a significant size without compromising on risk.

Here are 10 of them, and they are for free: 🧵

Collaborated with @AdityaTodmal

1/ For a faster growth, one needs to have a bigger size:

• What difference would it make if a stock moves by 300%?

• But then, what if you had only 1% capital allocation?

• Despite the stock performing spectacularly, your account won't reflect the same, due to small sizing.

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Risk tolerance should be taken into consideration while determining appropriate position sizing.

3/ Fixed absolute Rupee Amount:

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• Lets say a stock is trading at 1200 and your SL is 1120 (i.e. your risk per unit us Rs. 1200-1120 =Rs. 80)

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Time for a 🧵

Lets demystify the Peak Margin rules and try to find solutions for the option sellers!

Peak Margin by SEBI:
• 100% upfront margin for intraday trades in the derivative segment
• Effectively MIS orders = NRML orders, as both will attract same margin in the derivative segment
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How things used to operate erstwhile?
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Shortlisting stocks is a tedious task.

Here are the 10 most Powerful Positional Setups with Screeners that is available for FREE: 🧵

Collaborated with @AdityaTodmal

1/ Short term breakouts:

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Stocks that have seen a sudden spurt in their volume by over 2x times the average volume over the past 10 trading sessions and have gained or lost more than 5%

3/ Potential breakouts:

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4/ Strong Stocks:

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EVOLUTION OF CROWNS

The ancient Indian kings called a head crown as a Mukut and it would mostly constitute of a golden ornamental headgear like an oval cap with gems.

Sometimes it would also include a halo circle to show the divinity of the king

1/7


As it was considered that kings were appointment by the gods themselves. Example the kings of mewar considered themselves to be the ‘Diwan of eklingji')

But in most cases very few Mukut with halo effect have been found.

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Samudragupta in the gupta era coin. You can see the helmet like headwear on him.

Till gupta era the solid golden head wear was used in most days of the monarch.

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Whereas earlier the Maharaja had to wear the mukut whenever his court was in session.

Still mukut was being used prominently for ceremonial activities till recent times.

Maharaj Dahir of Sindh👇

4/7


But as times past the style of headwear also changed.

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Portrait of Sri Krishna Dev Raya👇

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A Thread on the Boss himself @Mitesh_Engr

Mitesh Sir's Positional Option Selling 101:

• How to find direction
• Which options to sell
• How to deploy capital
• Exit criteria
• What ROI he targets weekly
• What % risk he takes

Done with the help of @niki_poojary


How @Mitesh_Engr Sir finds the direction?

• Daily charts S/R
• 75 min charts S/R
• Intraday trend
• Always play directional
• Never trades in strategies


Which options to sell in weekly expiry according to @Mitesh_Engr?

• Weekly candle High/Low
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Position Sizing by @Mitesh_Engr Sir.

How to deploy your capital?

• First sell 20%
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• What to do when view goes wrong
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Some important tweets of @Mitesh_Engr Sir

• What Data to look at
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The Statue of Equality is a monument in India dedicated to the 11th-century Vaishnavaite Sage Bhagavad Ramanuja, commemorating 1000 years since his birth. It was inaugurated by Prime Minister Narendra Modi ji in 2019.


In 2014, Sri Chinna Jeeyar came up with the idea to commemorate the 1000th anniversary of Sri Ramanuja's teachings by building the Statue of Equality. The statue is constructed on an estimated 34 acres in Hyderabad, India.


It consists of a 216 foot tall statue of Ramanuja and is surrounded by 108 Divyadesams (model temples) and includes an educational gallery. The project budget is 1000 crore rupees.The foundation stone for the Statue of Equality was laid by Chinna Jeeyar.


The statue was built by Aerosun Corporation in China before being shipped to India. It is made of panchaloha, a combination of gold, silver, copper, brass and titanium. The statue relies on donations to fund its construction.


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Steal my blueprint to create 1 in an afternoon🧵


The phases of a Twitter giveaway launch:

1. Ideate
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IDEATE

Grab a piece of paper and write down 3 lists:

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Give yourself ONE HOUR to script & edit your giveaway.

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1. IQ is the measure of one's ability to comprehend, solve maths; memorize things & recall subject matters.

2. EQ is the measure of your ability to maintain peace with others; keep to time; be responsible; be honest; respect boundaries; be humble, genuine, and considerate.

3. SQ is the measure of one's ability to build a network of friends & maintain it over a long period of time.

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Try not only to have a higher IQ but also to have higher EQ and SQ.
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