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- Arvind's Newsletter
1.The Indian government will now treat gains arising from multiple mutual fund categories, including debt mutual funds, as short-term capital gains via an amendment to the Finance Bill, 2023, which was passed today in Parliament. The change does away with the tax advantages enjoyed by these schemes.
These mutual fund schemes include all those that have an equity allocation of less than 35%. This means that all debt mutual funds, fund of funds, foreign funds, and gold funds will be covered. Gains from these schemes will be treated as short-term capital gains starting in April 2023 and taxed at the slab rate. This means an individual in the highest tax bracket will pay a tax of 30%.
Currently, gains arising from debt mutual fund schemes are considered long-term after a period of three years and taxed at 20% with indexation benefits. This means that all gains are adjusted for inflation, which dramatically reduces the tax incidence. Investors have long been advised by financial advisors to consider debt mutual fund investments instead of fixed deposits because of this advantage.
Read more at: https://www.bqprime.com/business/debt-mutual-funds-will-lose-tax-advantage-starting-april
2.Russia failed to fulfil a major defence shipment to India as the war in Ukraine stretches its military commitment, the Indian Air Force told a parliamentary committee.
Russia is India’s largest military supplier, accounting for 45% of India’s imports. But Russia’s defence industry is struggling to keep up with demand: Moscow has been forced to bring 1950s-era T-54 tanks out of retirement to fight in Ukraine. The war is also changing Western military structures. Finland, Denmark, Sweden, and Norway plan to combine their Air Forces, Norway’s Aftenposten reported, while Oslo is demanding an explanation from Hungary of why it will accept Finland into NATO but not Sweden.
3 Confronting bad managers: It's hard enough to give candid feedback to a friend or subordinate. Giving it to your boss is so much harder — and can get you booted if you botch it.
Very few of us make it through life without running into moronic, mushy or mediocre managers. But there are ways to raise concerns directly, safely and effectively. Read on.
4Japan produces just 0.3% of its electricity from geothermal energy despite the thousands of hot springs, or onsen, that dot the country. Experts believe that Japan — the fifth largest emitter of greenhouse gases — could produce up to 10% of its electricity from geothermal sources.
That would be more than it produced from any renewable source in 2021. “It’s domestic, it’s renewable,” an energy expert told The New York Times. “ It is all the things Japan needs.” However, local governments across the country, under pressure from residents worried that tapping into onsens could deplete the springs and the tourism industries that rely on their warm waters, continue to block new projects.
5.How the seasons change our sleep:The clocks are changing and the days are getting longer – new research suggests we might want to consider what this means for our bedtimes.