Kanan Bahl
@BahlKanan
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CA | Finance Educator📈 | No Paid Collabs | My firm works with finance brands for their research and communication needs | #PersonalFinance
New Delhi, India
Joined December 2020
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Adani made a 413-page response to
@HindenburgRes
's report
I read it so that you don't have to
Summarising it below. A thread🧵👇
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India's own CBDC has been launched today for pilot
It might be the next revolution in payments like UPI🤯
What does it mean to you? 🤔
Here is all about the Indian CBDC 👇
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#AdaniFPO
bailed out!
Current Mkt Price is lesser than FPO Price by ~10%
Who bailed out?
🔶Mukesh Ambani [RIL]
🔶Sunil Bharti Mittal [Airtel]
🔶Sajjan Jindal [JSW]
Key lesson: Keep your relations with your peers & competitors healthy
They'll help you in the darkest hour!
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My 26 yr old cousin saw a passbook for the first time
She saw "..... 500 Cr." and asked her mom if she has 500 Crores in her bank account😂
Need to teach kids about banking and basics of finance in school itself
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An HDFC Bank Senior VP is seen shouting at his employees for not meeting targets
Confirmed from a friend who understands Bengali, he is asking his junior to sell 75 insurance policies in a day🤯
Is this why these bank employees missell us policies and investment products?
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I used to agree with arguments like: "Why a temple/statue, and not a school/factory?"
But I dug deeper to find that the Ayodhya Ram Temple🚩 will generate at least ₹4,00,000 Crores every year🤯
Here's how India🇮🇳 stands to benefit from the Ram Mandir [A thread🧵👇]
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Hi
@dhruv_rathee
, watched your video on Budget.
You have said that government hasn't given the revised deadline of a $5 Tn economy (promised in 2019 that 2024 will be the deadline).
You also said that it has glamourised a milestone of $7 Tn.
However, if you read the same DEA
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Everyone is confused between the New and Old regime
A thread on case studies🧵👇
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Adani's Debt to Equity Ratio is 44:1
Yes, you read it right. Even I couldn't believe it. Read on:
Small🧵
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The debate gets real now:
New Tax Regime or Old Tax Regime?
Work for CAs increased 😂
I'll be posting scenarios giving examples by day end today :)
Use
#BudgetWithKB
to ask your questions
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Never drank a drop of alcohol, never smoked. Still doing very well.
During my articleship, my manager at a Big 4 used to me that I won’t get fast track promotions if I don’t drink.
My father told me that even he never drank and became a director at an MNC.
If you are seeking
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Planning to purchase a residential house? 🏘️
Follow these tips from my practical experience 👇
And save LAKHS🤯:
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Interesting ITR filing fact!
Donated to a charitable institution? Furnish the institution's Name, PAN and Address!
What about while furnishing to a political party? Furnish nothing😂 No name, PAN or Address required!!
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You can get a ₹ 1 Crore health cover at just ₹ 10k p.a.🤯
No absurd assumptions or riders, promise🙏
Read on, I'll teach you how to get it 👇👇
And everything about Health Insurance 🤩
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Jio Cinema has acquired rights to broadcast IPL for a massive ₹22,382 Cr 🤯
All this for you to watch IPL for free? Maybe here's why👇
🔸It acquired 32 Mn users during FIFA WC'22
🔸Est. that users will increase from 300Mn to 550Mn
🔸Rights are for 5 yrs. Might monetize later
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Raamdeo Agarwal came from a middle-class family but his stock-picking abilities made his net-worth soar to ₹6,840 Crores
MOFSL (his investment firm) recently released a 27th wealth creation report on how they select stocks. [A thread...] 🧵👇
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New Tax Regime seems to be getting useful
Slabs are:
₹0-3L: 0%
₹3-6L: 5%
₹6-9L: 10%
₹9-12L: 15%
₹12-15₹: 20%
Above ₹15L: 30%
Also, pay no tax if your income is up to ₹7L :)
#BudgetWithKB
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Silicon Valley Bank crisis has shocked the world🔻📉
You need to understand how this affects you🧠
I've researched for you for 7+ hrs to come up with hand-written notes in a way that even a 5-year-old can understand
A thread🧵👇
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A friend has salary income of 30L+ & ESOPs, crypto tax, tuition fee etc.
Referred him to a practising CA for his ITR who quoted ₹5,000.
"He'll just take 1 hr. ₹5,000 is too much"
It takes him 1 hr now but he has spent 6 yrs in CA, 4 yrs in practice to do this in 1 hr.
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My Dad has been active in the stock market since last 35 years and his circle has the top CEOs and CFOs in Delhi
Not one of them has made anything significant from trading!
So, all those who are selling expensive courses of TRADING, are selling you dreams. Reality is far away!
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RBI imposes a penalty of ₹3.95 Crores on Kotak Mahindra Bank Ltd. for overcharging customers
Going forward, banks will think twice before troubling or overcharging customers.
You need to know your rights, i.e., why the RBI penalised KMBL👇
(1) Bank charged foreclosure fee
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Q. If the slabs are taxing income from 3L-6L@ 5%,
Then how ZERO tax on income of 7L?
Ans. If you earn upto 7L, no tax
If you earn ₹7.5L, then tax is:
A. ₹0 on ₹0-3L: 0%
B. ₹15,000 on ₹3-6L: 5%
C. ₹15,000 (₹7.5L-6L) on ₹6-9L: 10%
A+B+C=₹30,000+Sur+Cess
#BudgetWithKB
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Building Taj Mahal costed ₹4.5 Cr from 1631-1653
Assuming:
A. 4% inflation CAGR
B. In last 400 yrs
Value of those ₹4.5 Cr today is ₹293 Lakh Crores🤯
This is more than our GDP and even stock mkt val📈
Ticket sales are ~₹150 Cr p.a.
You think it made any economic sense?
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Even if you know about Mutual Funds,
It is difficult to choose the category
Here is all about Mutual Funds and its categories 👇
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📢 Adani group prepays bank loan against shares worth ₹9,174 Cr. ($1.1 Bn) in:
👉 Adani Green Energy
👉 Adani Ports
👉 Adani Transmission
"This is in continuation of promoters’ assurance to prepay all share backed financing", the Group said
What are your thoughts?👇
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Being raised by 2 CAs (my parents),
I've been listening to Union Budgets since 2012
I'll be posting live updates on the budget and my analysis during the day
You can ask me your questions too :)
#BudgetWithKB
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Sources say that RBI asks Banks to share their exposure to ADANI group
👉 SBI shared that they have loaned ₹27,000 Cr to Adani Group cos
👉 This is 0.8-0.9% of SBI's loan book exposure
👉 They've not lent against shares so stock fall won't impact them
What are your thoughts?
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If we do not go and watch movies like '12th Fail' and 'Sam Bahadur',
cinema will stop making such movies and make more like "Animal."
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SEBI has barred actor Arshad Warsi, his wife along with 29 others in a stock manipulation scam
YouTube channel 'Money Wise' was behind a stock pump & dump scheme
They together pumped 'Sadhna Broadcast' shares, created hype and dumped it
Lesson: Don't act on SOCIAL MEDIA tips!
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WhatsApp's global revenue was estimated to be ₹71,191 CRORES in just 2021 🤯
We use WA for free. How is it making money?🤔
🔸Does it earn by selling our data? OR
🔸It has some other revenue model?
Let's find out how Revenue model of WhatsApp (WA) has changed over the yrs🧵👇
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My relative passed away during covid 😥
Leaving a housewife, two kids aged 18 and 21 😔
And with a Home loan of 1 Cr+ and Car Loan of 15L+ 🥵
This could've been avoided via Term Insurance. Everything about Term plans👇
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Adani Enterprises' signing auditor of 2018 had qualified CA in 2017 🤯
@MorningContext
's story has revealed many other startling facts🥵
Read on 👇🧵
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RBI has increased the repo rate again
Home Loan EMI's have increased by 20%+
5 ways how you can KICK OUT Home Loan within 8 Years (instead of 20): 🧵👇
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28% GST on online betting apps is a welcome move👍
But why any govt doesn't tax BCCI? They'll make ₹50,000 Cr just from IPL in 5 yrs🤯
Especially when other sports do not get access to even basic infra🔻
Many sportspersons have to do small errands after retiring. Sad!
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Debate on the Old Pension Scheme (OPS) vs New Pension Scheme is very hot😲
The financial impact is very complex to understand🤔
I've researched for 10+ hrs, so you don't have to🥂
A thread🧵👇
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A school friend messaged me after 8 yrs at 12 AM
He sought immediate financial help because his friend had met with an accident
He said, "My UPI is down. Will pay you tom."
Been months. You all know what happened😅
I knew it but this diminishes trust in genuine people as well
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@monikahalan
,
@RBI
,
@nsitharaman
please take note of this. This is the culture because of which the common man suffers from wrong investment products.
@SEBI_India
please take note of these people force selling products. Is this not violation of SEBI RIA regulations?
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If you are 25 and are saving ₹20,000 a month presently,
You can potentially have ₹35.12 CRORES by the time you retire🤯
No absurd assumptions. Promise!
How? Read on:👇
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Shocking!🚨
Another Banking employee shares about his bad working experience.
Bankers have the pressure to force-sell useless products left-right-centre.
If you've to get work done, their standard response is "Ye policy lelo, fir karwa denge"
Translation: Buy this policy then
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My brother left home for the first time for his MBA.
He came back home after 2.5 months and after speaking to him I realised that kids mature so fast after leaving home.
Leaving home and being on your own in their early 20s is a must have experience.
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1982 - Worst recession in 40 years, debt crisis
1983 - Market hits record - "Market too high"
1984 - Record U.S. Federal deficits
1985 - Economic growth slows
1986 - Dow nears 2000 - "Market too high"
1987 - The Crash - Black Monday
1988 - Fear of Recession
Read till the end👇
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You get thousands of messages to avail a loan but it's hard to prepay
It took my Dad 20 days to close a loan and he paid interest for that time too
If Banks aren't entertaining you, send them a mail with "RBI Ombudsman" in subject line
Within 24 hours, your work will get done
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New tax regime becomes the default tax regime
Not telling your employer about the choice of regime might lead to higher TDS outflow🔻and low salary being credited📉
But the choice is very confusing. Don't worry, I've got you covered😌
A thread of hand-written case studies🧵👇
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I scored 38.4% in Class 11th and thought it is the end of the world
5 years forward, I cleared all levels of CA in one go
#ICAI
results are getting declared tomorrow
God forbid, if you fail, don't forget👇
"Life ho ya match, all you need is one good over."
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Job market looks very bad!
Friends in investment banking are complaining of no/very low volume of deals.
Students even in top MBA colleges are saying that ~50% batch is going unplaced. Same with DU colleges.
Prepare an emergency fund worth 6 months of needs!
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There's definitely something fishy.
There are hardly 2 Lakh individuals who report income >1 Cr p.a.
Mumbai, Gurgaon are adding inventory of 5,000+ units p.a. worth 10 Cr+.
From where did people get so much money all of a sudden?
Sold Out! Next project coming up on Golf Course Road at approx 40cr. per apartment.
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This shows that through thick and thin, India Inc Stands Together
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You have also mentioned that Female Workforce participation has decreased from 32% in 2005 to 19% in 2021.
However, as per the same DEA report, the Workforce participation rate in 2022-23 is 35.9% for both Urban and Rural categories.
It has rather increased over the last 5
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Let's not target the individual shouting here.
He also must have been shouted at from his seniors and he's passing it on.
The problem here is not him shouting. The problem is the banking system that force sells us products for commissions.
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After firing 10,000 employees, Amazon to fire 9,000 more🥵
After firing 11,000 employees, Meta fired 10,000 more🔻
These are not loss making companies🤯
God forbid, it can happen to you as well😔
Here's how you can prepare financially for a recession👇
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Virat Kohli made ₹240 Cr in 2021 from endorsements alone🤯
This is the amount at which an entire IPL team's rights were bought in 2008😲
BCCI is going to make ₹50,000 Cr+ just from IPL during 2023-2027📈
What makes IPL one of world's biggest sporting league? 🤔A thread🧵👇
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A well-educated couple lost over ₹1,12,00,000 in a FRAUD🤯
They got lured by 'Rating Movies' which would make them easy money🔻
Here's all you need to know about this SCAM and even avoid it. A thread🧵👇
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Reading the Adani's 413-pager response
Preparing a Twitter thread alongside
Might get done by 2AM. Should I post the thread at 2AM or 8AM tomorrow?
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This is Delhi - Gurgaon toll! Looks like pre-covid era is back
I was seeing that it will take 2 hours from my place to Sector 92 in Gurgaon (50Kms).
Permanent work from home and odd even with relaxation should be year wide policies.
What do you think?
Img source: LinkedIn
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A Hyderabad based CEO lost 16L lately🤯
Why? He was charging his phone in a public place😲
It is called 'Juice Jacking'. Here's how you can avoid it🧵👇
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My relative passed away during covid 😥
Leaving a housewife, two kids aged 18 and 21 😔
And with a Home loan of 1 Cr+ and Car Loan of 15L+ 🥵
This could've been avoided via Term Insurance. Guiding about Term plans👇
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With today's hike, Repo Rate is now at 6.5%
Home Loan interest rate will now be ~9%
Last year, same time it used to be ~6.5%
As a result, the Home Loan EMI's have hiked by 20%+ on 20 yr tenure
#rbipolicy
#RBI
#RepoRate
#homeloan
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A father is fighting for her 1 year old daughter's life
Really sad that insurers are denying genuine claims
IRDAI should take cognizance, otherwise the whole point of paying premiums gets defeated
If the facts are true, "Care Insurance" needs to be taken care of by regulators
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My Dad and my Mom's twitter handles look exactly like my handle
As they retweet everything I post 🥹
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Meet Venky and Anand!
Two guys from Chennai who almost acquired GOOGLE!🤯
Yes, you read it right! Not once, but twice😲 A thread🧵👇
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1/ Adani Group is Deeply over leveraged
- Group has executional excellence
- Net Debt to EBITDA has reduced from 7.6x to 3.2x
- EBITDA has grown at 22%, Net Debt has grown at 11% CAGR in last 9 yrs
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Reliance Industries Demerger will impact taxation of its 36,39,396 shareholders 🤯
You need to understand how this affects you as a shareholder🤔
Have come up with hand-written notes in a way that even a 5-year-old can understand
A thread🧵👇
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Got my GST number 3 days back. And just yesterday, I got a call from a person claiming to be from Kotak Mahindra Bank.
"Sir, you just got a GST number so would you like to open a Current account with us?"
Who is leaking our private info to financial institutions?
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PR Sundar, along with his son & company were held guilty to give invt. advice w/o license🔻
While SEBI won't prosecute. But:
🔸₹46,80,000 to be paid by them as SETTLEMENT amt
🔸Not allowed to deal in securities for a year📉
🔸Disgorgement amt of ₹6,07,69,863 also levied🤯
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3/ Diamond Trading Tax Evasion & Over-Invoicing
🔶 Allegations made in the past have been highlighted
🔶 Issues have been settled with the courts already
🔶 Supreme Court has also exonerated the group of all charges
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Partnered with
#PhysicsWallah
for a YouTube Channel - Finance Wallah🤩
Will cover:
🔶 Personal Finance
🔶 Stocks &
🔶 Careers in Finance
Excited to work with PW as it's a brand that keeps ethics at front 😊
Nothing can move without your support & feedback🙏
Channel link👇
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A very big reason of me quitting both my jobs was disrespect
It wasn't even 10% of what was there in the Banker's video. Even 10% of that is toxic!
Before joining a workplace, there's no way you can know that bosses are like that
How do you guys evaluate bosses before joining?
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Income tax dept has increased the timeline for linking PAN & Aadhar to 30th June, 2023
In my opinion, the fees of ₹1,000 should be waived-off
Majority of our population can't afford it, e.g., our househelps, janitors and support staff
What do you think?
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📢Adani Bonds worth $1 Bn finds Buyers in international market
This comes after bonds were being hammered in the international market as institutions started rejecting them as collateral
Adani Enterprises Limited (AEL) scrip is ~15% today
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People earning up to ₹7L won't have to pay any Personal Income Tax
But in the New Tax Regime
This is good!
#BudgetWithKB
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Creating content full time requires:
[1] Staying out a job and
[2] A lot of time commitment
Your love is all I need😊🙏
If you liked this summary, kindly retweet the first tweet👇
Adani made a 413-page response to
@HindenburgRes
's report
I read it so that you don't have to
Summarising it below. A thread🧵👇
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I always understood that the free float in Adani Group cos is very less
#AdaniEnterprises
is down by 54%🚨 in the past one week. Group lost $100Bn+ in Mkt Cap since Jan 25🔻
How is this possible? Is
#QuantMF
selling?🤔
Disc. No reco. No positions held
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IPL's cost per match is even higher than English Premier League(EPL)📈
Broadcasting cost/match:
🔸IPL:$16 Mn
🔸EPL:$11 Mn
In EPL, Chelsea paid £106.8Mn (₹1,089 Cr) to get just one player, Enzo Fernandez🤯
Cricket is a religion in India and IPL is the biggest festival💫
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NHAI Bonds discontinued 😰
How to save Long-Term Capital Gains (LTCG) Tax on sale of property? 🤔
Recently, I helped my client save INR 10,73,282 in LTCG taxes 🤯
5 ways you can do it too 🤩👇
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New issue of Sovereign Gold Bond launches today🤩
With the upside of Gold, you get 2.5% interest🤯
Here's all you need to know about
#SGB
🪙🧵👇
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1/ What is CBDC?
CBDC stands a Centrally Backed Digital Currency
Just like a physical note, CBDC will be:
- Legal Tender
- Liability of the RBI to return us that money
- Our legal obligation to accept it
- Freely convertible against commercial bank
money
Symbol: e₹
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This person turned ₹5,000 to ₹47,560 CRORES in his 37 years of investing career
The BIG BULL of Indian markets who made 64% CAGR
Let's take inspiration from the story & principles of a common man who made it big at Dalal Street
CA Rakesh Jhunjhunwala. A thread🧵👇
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After 8 years of hardwork, I finally treated myself with an iPhone
6 ways on how you can buy it to within ₹50,000 (without exchange)🧵👇
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Inheritance tax is a disastrous ask!
The rich already pay 39% income tax. 18% GST on consumption.
6-7% Stamp duty on investing in real estate.
What are they even left with? And on top of this people want inheritance tax!
Do not forget that people will shift to countries like
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That’s me reading the RBI Circular, FAQs and making content at 10PM after my flight landed!
I love my work but for those who think content is easy, it isn’t 🙂
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2/ Highly pledged promoter stake in group cos
- The promoter pledge has reduced drastically in the last few years
See chart 👇
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My mom left her well running CA-practice so that she can look after me & my brother as we were poor in studies.
During my CA prep days, she used to wake up at 4AM daily to prepare food and stayed up till 11PM to prepare fresh rotis for dinner.
Happy Women’s Day Mumma ❤️
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FDs provide too low returns 🔻
Residential Properties fetch just 2% rental yield 🏡
Then what to do to fetch good regular income?🤔
Systematic Withdrawal Plan (SWP). Read on to know about it👇
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I might get a lot of backlash for saying this.
But with IPL's strong monetization, maybe the incentive to perform at national level has reduced to a great extent.
#IndvsPak
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@smriti_tomar
And if you say that you don't want the insurance, they'll stop your loan application.
The customer gets to know about such nuances at the time when registry is nearing. They are left with no choice but to succumb to this bullying by banks.
Really unfortunate that such cheap
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Dream 11's ₹40,000 Cr GST tax demand is the biggest in the history of GST🔻
On what grounds is the tax department doing it?
Is the government to be blamed?🤔
I spoke to experts working closely with the GST dept and gaming companies on this.
A thread on the entire matter🧵👇
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5/ Adani's corporate structure is convoluted - has 578 subsidiaries
- As per Hindenburg, Adani group has 6,025 related party transactions in FY22
- Adani: Infra biz requires creating a subsidiary for each project
As per my experience in Big 4s, Adani group is right here
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By March end, people panic buy useless tax saving products🔻
It is important that we start the homework now🤔
NPS can get you deduction up to 50,000+10% of Basic Pay & DA (beyond 80C) 🤯
More about NPS before you take a decision👇
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Common Question Arising: Can 80C be availed❓
Answer: Yes you can, if you avail the Old Tax Regime.
Q. Should you avail the New Tax Regime?
I'll answer this using case scenarios:
A. With Home Loan
B. Not with Home Loan
C. Rented
Follow me & use
#BudgetWithKB
to ask questions
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8/ Auditor's Experience Issue
- Shah Dhandharia & Co. is a peer reviewed ICAI firm
- Hindenburg has shown utter disgrace by revealing PAN of the CAs
- They are duly qualified CAs and are very well equipped to sign the financials as per the law
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People having degree from even IIM-A are using abusive slurs on me
Companies should check Tweets of people before hiring them
A person should check their potential life partner's tweets before agreeing
Twitter is the platform where people leave trace of their true character
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If you are 25 and are saving 20k a month presently,
You can potentially have INR 35.12 CRORES by the time you retire
No absurd assumptions. Promise!
How? Read on:👇
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📢BREAKING: Byju's loses control of Aakash as its lender Davidson Kempner takes over
This has been done pursuant to charges of financial misconduct
Lender funded Byju's with ₹2,000 Cr. in a structured deal
Byju's used the amt against the terms of the agreement
Src: TMC
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People are asking if Banks can charge on foreclosure of Home Loan❓
If you have floating interest loan --> NO they can't!
Bankers say that they'll charge, when you ask to foreclose
But also say, "Buy this insurance policy, then we won't charge"
RBI Norms say they can't charge
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Yesterday, it was declared that Ind vs Pak World Cup match will be played in Ahmedabad.
Within hours, hotel prices shot up from as low as ~₹12,000 a night to ₹1,70,000🤯📈
Src: CNBC-TV18
"Cricket is the biggest religion in India."
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Even a small tailwind against the company can derail the company's financials no matter how good the order book is
The entry of a new competitor, change in government policies, even a change in government or an adverse event can hijack and deteriorate company's P&L
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Home loan interest rates are now ~8% from 6.5% just 3 months back
Here are 4 things you can do to reduce your
#EMIs
:👇
16
125
860