Saturday, January 09, 2021

Politicians - Converting Black Money to White Money

If you are paying tax and if you know any politician who wants to convert black money to white money for his/her political party, by helping them, you can reduce your tax burden.

You can take the cash from the politician (upto 10% of your gross salary), and transfer the equivalent money to that political party's account as a donation. With that donation, you can claim 100% tax deduction. That money is going to be white money for the political party. 

I used to wonder why people are donating to a few corrupted parties. Later I realized that it is very easy for the politicians to find people who are looking for tax exemption, and with their help they can get white money as a donation to their political party. 

Saturday, January 02, 2021

SEBI - Flexi Cap with old definition of Multi Cap

Few months back, I wrote criticizing SEBI for restricting Multi Cap Mutual Funds.

Recently, SEBI introduced new type of Mutual Fund, "Flexi Cap". The definition of "Flexi Cap" is same as old "Multi Cap".

They could have left the Multi Cap as it is, and created a new fund with the present definition of Multi Cap.

Instead they changed the definition of Multi Cap, and (after the industry cried over it) they created a Flexi Cap with the old definition of Multi Cap.