BC ECONOMY
Saved by @Mollyycolllinss

Key Highlights from the Union Budget 2021, as presented by the Hon’ble Finance Minister.

Direct Taxes -
• Vivad Se Viswas Scheme Last Date of filing extended to 28th February 2021.
• Citizens of age 75 years and above who have only Pension and Interest income – Need not file👇

 Income Tax Returns
• Re-opening of Assessment to reduced to 3 years from 6 years. Only where evidence of concealment of income of Rs. 50 lakhs or more – re-opening can be made up to 10 years & only with the approval of Pr.CCIT.
👇
• Reducing Litigation for small taxpayers – Constitution of Faceless Dispute Resolution Panel for people with Total Income up to Rs.50 lakh and disputed income of Rs.10 lakh
• Income Tax Appellate Tribunal to become Faceless – Only electronic communication will be done
👇
• Relaxation to NRIs – Rules to remove hardship of Double Taxation
• Tax Audit Limit to be increased to Rs.10 crores from Rs.5 crores for those having less than 5% cash transactions
• Dividend Tax- Dividend will be exempt from TDS. Advance tax liability on dividend income
👇
will arise only after the declaration or payment of the dividend. For Foreign Investors – a lower treaty rate benefit will be given.
• Affordable Housing – Additional Interest deduction (Sec 80EEA) of Rs.1.5 lakhs to be extended for loans taken till 31st March 2022.
👇
• Affordable Housing Projects – Tax Holiday extended till 31st March 2022.
• Tax Holiday for Capital Gains for Aircraft Leasing Companies and Tax Exemption to Lease paid to Foreign Persons
• Pre-Filling of Returns – Details of Capital Gains, Dividend Income and Interest
👇
income will be pre-filled in the returns
• Relief to Trusts – Charitable trusts running Hospitals and Educational Institutions relief increased from Rs.1 crore to Rs.5 crore.
• Employee contribution not paid by the employer will not be allowed as a deduction.
👇
• Tax holiday for Start-Ups extended to 31st March 2022. Capital Gains exemption on investment in startups also extended to 31s March 2022.

MCA, Companies Act, LLP Act
• Easing Compliance requirements of Small Companies – Threshold increased to Share Capital increased
👇
up to Rs.2 crore and Turnover up to Rs.20 crore will be Small Companies
• Allow One Person Companies (OPC) to grow without any restriction in Share Capital or Turnover. NRIs will be allowed to set-up OPCs. Presence in India of 120 days in a year enough to start an OPC.
👇
• Launching MCA Version 3.0 – E-Scrutiny, E-Adjudication, and Compliance management to be simplified.
• Decriminalisation of LLP Act, 2008
• Tribunals to be rationalized.

#WA 🙏

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In 1948 he acquired 50% stake in GEICO. It had to be distributed to his investors

They almost didn't make the investment due to some accounting questions 1/


Ben Graham paid $712,500 for 50% of GEICO in 1948. He put 25% of his investment assets in GEICO.

This investment did so well that the price of its shares advanced to two hundred times or more than the price of the half-interest by 1971/1972 2/

Ironically, the aggregate of profits accruing from this single investment decision far exceeded the sum of all the others realized through 20 years of operations in the partners specialized fields, involving much investigation, endless pondering&countless individual decisions 3/

Are there morals to this story of value to the intelligent investor?

An obvious one is that there are several different ways to make and keep money on Wall Street 4/

Another, not so obvious, is that one lucky break, or one supremely shrewd decision may count for more than a lifetime of journeyman efforts.

But behind the luck, or the crucial decision, there must usually exist a background of preparation and disciplines capacity. 5/
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First is the fact that growth, inflation and interest rate outlook is unfriendly for equities.


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1/ How to raise a real estate fund (and, ideally, avoid getting sued)

Have warned everyone it’s better to raise capital deal-by-deal, bc it’s easier to raise & bc it's better for the sponsor. Still, there’s interest in learning how to do a fund… so, here goes.

2/ Don’t think of doing this unless you have a record of successful deals, ideally mostly/all in the same asset class / strategy.

Remember: You will be asking LPs to invest in YOU; they need to feel like you know what you’re doing.

3/ Really helps to have a list of prospective LPs BEFORE you start your raise. The more high-quality leads you have, the more likely you are to succeed. (I built my list via my blog initially; now twitter leads predominate - see my bio.)

4/ Find an experienced attorney. Doesn’t need to be a huge, expensive firm, but you want someone who has done a lot of private offerings before. Don’t agree to a big fee yet… at first, you just want a few hrs of her time for advice.

5/ Find an experienced CPA. Ideally, your existing CPA has worked on a lot of private deals before. If not, get a new one. Prospective LPs need confidence that someone good is overseeing the bookkeeping and doing the tax prep.
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Thread - How to spot a potential multibagger

Multiple fundamental parameters however we cannot be rigid on any of these parameters.

Be flexible to interpret things from bigger picture point of view.

Input 1 ~ No doubt on business survival

Come whatever event (health crisis, economic bubbles, economic recessions, political events, etc.), there should not be any doubt on business survival.

Earlier it used to be only food companies into this category, but now there are many.

Input 2 ~ Visible & sustainable growth potential

At any point of time, we can think with a certain common sense approach that if management wants, there can be a sustainable growth at any point of time.

Obviously this growth may come thru innovation, optimization, etc.

Input 3 ~ Management has vision towards growth

Management should be forward looking, should be able to read into future to build right growth avenues, should be considerate towards every stakeholder.

In addition management should be ethical & should have good social image too.

Input 4 ~ Promoter stake

There should be a reasonable skin in the game from promoter.

If in case there is a low promoter stake, then promoter should increase stake at every possible opportunity.

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True that all the people cherishing the support of IMF or WTO for farm reforms need to cool it down a bit, because that is a model we do not want to emulate to the t in India here.

But here are some issues that deserve to be better discussed by all:


1. People who say we are emulating the Western model of agriculture are way off with this assumption. The process of primitive accumulation, the alienation of their people from their land and the way these 'first-world' countries have pushed their people into Industrial sector +

+ was a merciless phase.
But the same assumption won't work for India, because we have always had a large workforce in agriculture, agri subsidies have always run high, protection has been the hallmark of agriculture and rural representation in the parliament has always been+

+ high. Still, it is our utter failure from the beginning that we have not been able to incentivize the movement of our people to other lucrative sectors.

2. This brings us to the another point of providing MSP on all the commodities and the demand side of the issue that we+

+ conveniently ignore. Here's the thing, Food prices in India have about 65-70% weight in calculating the Consumer Price Index and 25-30% of wholesale price index. These indices affect the general price level in the economy i.e. the inflation. If MSP is offered on all the+
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