Archive for the ‘Celebration’ Category
This is an article I wrote for another blog on Feb 29. Since I’ve not been active on my own personal blog for quite some time I thought I’ll at least put this!
I met Ronnie, Shanker and Arun around lunch time in the cafeteria today and announced that all of us are going to be richer by Rs 14,000. That was a back of the envelope calculation which went wrong! We were actually richer by Rs 44,000 because of the change in tax slabs announced today in the India Budget. And so I sent an email to all of them making the clarification. I chose the subject line -”Double Cheers” and liked it enough to make it the title of this blog post.
Now I’m back home and it’s quite funny that I’m actually writing this blog post. Considering it is a Friday night! But thanks to the budget news on TV I’m quite kicked… It’s a material world!
I don’t care how the Rs 60,000 crore ($15b) to be used for farmer’s loans waiver will be provisioned but I do know that I am richer by Rs 44,000 a year. I also know that the second car that I’ve been planning to buy will come cheaper to me by Rs 18,000 odds. And I do know that the indirect tax I pay as CST will come down by 1%.
So what if the short term capital gains tax has been increased by 5% to 15%. Honestly the first time I heard about it I was quite disappointed since I do dabble in shares – including intra-day and short term trading. But come to think of it, for small investors like me, the short term profit is not going to be so significant that this increase will hurt. If I make 200,000 a year as short term gain, I’ll pay 10,000 extra as tax (over the current 20,000 I pay). Since I already saved 44, 000 on direct tax I am still positive by 34k. More – if I made 200,000, boy! I would have maybe got a cumulative return of about 300-900%, assuming I kept investing and withdrawing every month. Can I complain!!
I’ll love to have some views or some criticisim on my euphoria (which you may feel is euphemism!). Please hit the ‘Comments’ link to let me know…
Cheers, oops, Double Cheers!
There are some days when everything seems going right for you. You feel content. Appreciated. Wanted. Needed.. In all aspects of your life. Whoa! It’s that phase of my life and I thought I’ll record it – guess a welcome break from my frequent rants!
Guess I should start a celebration series on my blog. After all there is so much to celebrate