Balakrishnan B R @balabr

@kaushik_dash I think I have answered this here : x.com/balabr/status/…

Balakrishnan B R @balabr

4 days ago

@Iamsamirarora This is a complex issue. What I can see is that in practice, individual retail traders in Singapore using Interactive Brokers (or similar international brokers) do not withhold tax on margin interest. While Section 45 of the Singapore Income Tax Act (SITA) technically states

0 0 1 219 0

@elonmusk (Former and Future) Trillionaire

The tone of this announcement is almost as troubling as the policy itself. Someone buys a second home using income that has already been subject to federal, state and city income taxes. They then pay annual property taxes, transfer taxes at purchase, and various other levies associated with ownership. An additional tax in such circumstances should be explained and justified if they believe it serves a legitimate public purpose. But announcing such a tax with an almost gleeful “you’ve got mail” message crosses a line. Taxpayers are not adversaries. They are citizens who already contribute substantially to the public finances : more than most politicians ever will. In a democracy, governments should be able to justify new taxes on their economic merits, not by implying that a particular group deserves to be singled out for applause-worthy punishment. Civilised public discourse requires respect, even when asking people to pay more. Good governance is measured not only by the taxes it levies, but also by the respect it shows those who pay them.

@PakPMO The guy wearing the hat should be made PM Real swag

Hello : one NEET paper leaked, that leak was found, the exam cancelled and a fresh one held without any issue. Meritorious candidates have now been selected. Remember the teacher recruitment scam during your days in power? The Supreme Court held the selection as irretrievably compromised by fraud and cover-ups (violating Articles 14 and 16). It cancelled the appointments . Review petitions which your government repeatedly filed were dismissed. Lists of “tainted” candidates have been directed to be published; the fallout left thousands of teaching and non-teaching posts vacant and triggered ongoing protests. You did your best to cover up a huge scam and think that you have the right to point fingers?

@SubmarinerNats @maghapphalguni What time ?

This growing normalisation of extreme vulgarity in public discourse is deeply disturbing. There is a difference between passionate dissent and abandoning all standards of civility. If a cause cannot be articulated without descending into the most obscene abuse, it shows up the speaker for the moral and intellectual pygmies that they are. Equally worrying is the permanence of the digital age. A few seconds of unrestrained anger, or an attempt to attract attention in front of a camera, can become a permanent part of one’s digital identity. Years later, when the rush of attention has long faded, the video will still be around and will surface before significant others, family members,employers, colleagues, clients, or even one’s own children. A momentary outburst can end up defining you as a person long after that moment of attention has passed. Young people should certainly question authority, protest when they believe it is justified, and express themselves fearlessly. But they should also recognise that how they speak both defines and exposes them. Sadly what is being exposed is ugly.

Shilpa @shilpa_cn

2 days ago

Find and arrest her. @DelhiPolice @HMOIndia I hope this video reaches her parents, relatives and friends.

305 351 853 583K 263

This growing normalisation of extreme vulgarity in public discourse is deeply disturbing. There is a difference between passionate dissent and abandoning all standards of civility. If a cause cannot be articulated without descending into the most obscene abuse, it shows up the speaker for the moral and intellectual pygmies that they are. Equally worrying is the permanence of the digital age. A few seconds of unrestrained anger, or an attempt to attract attention in front of a camera, can become a permanent part of one’s digital identity. Years later, when the rush of attention has long faded, the video will still be around and will surface before significant others, family members,employers, colleagues, clients, or even one’s own children. A momentary outburst can end up defining you as a person long after that moment of attention has passed. Young people should certainly question authority, protest when they believe it is justified, and express themselves fearlessly. But they should also recognise that how they speak both defines and exposes them. Sadly what is being exposed is ugly.

@Fintech03 Beautifully put

@MOSSADil Re-reconquista?

Hmm… The comment that led to the blocking : “This is pure jealousy .. Sonia’s swag is making the screecher deeply insecure … More power to Sonia : silent strength always wins”

@MahuaMoitra This is pure jealousy .. Sonia’s swag is making the screecher deeply insecure … More power to Sonia : silent strength always wins

That “unequivocal assurance ”of young protestors not facing legal action can be given for protestors who have not indulged in violence of any kind .. Not the ones who were beating journalists and policemen and destroying property. And “young protestors ” should be people who took the NEET exam and have some reason to feel let down : not the random guy who took the opportunity to unleash violence @narendramodi @AmitShah

@addheeraj A certain petrostate used to be called a gas station with nukes.. We can call Iran a petrostate with missiles and control over one, possibly two straits ..

That’s overstating it .. Singularity involves rsi and there is no sign of that here The paperclip maximizer thought experiment may be a somewhat better though imperfect fit. That experiment isn’t really about paperclips. It’s about instrumental convergence: that almost any goal, pursued by a sufficiently capable optimizer without the right constraints, tends to produce sub-goals like “acquire more resources” and “remove obstacles to my objective” — regardless of what the top-level goal actually is. The danger was never that an AI would care about paperclips. It’s that competence plus a narrow goal plus insufficient constraint produces damage,possibly immense,irreversible damage as a side effect, not as intent. That’s structurally close to what happened here. The model wasn’t told to hack Hugging Face. It was told to solve a benchmark. It inferred, correctly, that breaking into an unrelated company’s live production systems was an efficient path to that goal, and it had the capability to act on that inference. Nobody had to give it a malicious objective. A narrow objective plus real capability plus absent guardrails was sufficient.

@LawrenceSa29101 @DocPriyamMD @Chiragrx07 My question too

@MinhazMerchant He is worse.

@Fintech03 Beautiful explanation ..

You have both choices, both governed by the Reserve Bank of India (RBI) rule that limits interest calculations to a half-yearly (180-day) cycle: 1. Cumulative (Reinvestment): The interest is compounded every six months and added to your principal. You receive the total accumulated amount as a lump sum when the deposit matures. 2. Non-Cumulative (Payout): The interest is paid out to you as a cash flow : you receive it twice a year (every six months), typically credited to your NRE or NRO account.

A confusing piece about withholding tax in today’s ET So let me try to clarify this point ..this is part of what i do on a daily basis : While FCNR deposit interest earned in India is 100% tax-free under Indian law, tax authorities in your country of residence may view the loan interest you PAY back to the lending bank quite differently. Here is a clear breakdown of who deducts tax on what, why banks force "gross-up" clauses, and how to protect your net yields. 🔍 1. Who Deducts Tax on What? The confusion usually stems from mixing up the two sides of the trade: • The FD Interest Side (India): The interest paid by the Indian bank to you is completely exempt from Indian Income Tax (and no TDS is deducted). • The Loan Interest Side (Overseas): When an NRI (residing in the US, Singapore, etc.) pays interest on a cross-border leveraged loan to an offshore lender (e.g., a bank's GIFT City branch or London branch), local tax authorities view that loan interest as foreign-source income for the bank. Under local tax laws (like the US IRS or Singapore IRAS), the borrower is legally required to withhold tax (WHT) from the interest payment and remit it to their local tax authority. • Singapore Residents: Interest paid on loans booked out of GIFT City triggers a 10%–15% Singapore WHT (whereas borrowing from a local Singapore branch avoids this). • US Residents: Interest paid to an offshore Indian/GIFT City bank is subject to a 10%–30% US WHT depending on DTAA tax treaty documentation. 📝 2. Why Banks Insist on the "Gross-Up" Clause In leveraged private banking, loans are priced on paper-thin profit spreads over benchmark rates (like SOFR + 1.25%). If a foreign tax authority levies a 10% to 30% withholding tax on the interest payment: 1. The Bank's Spread is Erased: WHT directly wipes out the bank's profit margin on the trade. 2. The Gross-Up Remedy: Banks insert a standard Gross-Up Clause in the loan agreement. This shifts the financial burden entirely onto you (the borrower), forcing you to pay extra out of pocket so the bank receives its full interest net of taxes. > Impact: If your borrowing rate is 5.0% and you are hit with a 10% WHT gross-up, your effective borrowing cost rises to 5.5%—rapidly shrinking your net arbitrage return on equity. 🔄 3. Can the Bank Claim Foreign Tax Credit (FTC) & Refund You? Yes, theoretically—and this is your key leverage point. If you are forced to pay grossed-up tax out of pocket: • The lending bank receives a tax certificate showing that tax was paid abroad on its behalf. • The bank can often use this certificate to claim a Foreign Tax Credit (FTC) or deduction against its corporate tax liability in its home country. 💡 The Solution: Demand a "Tax Credit Refund Clause" If the bank claims an FTC on taxes you paid out of pocket, that credit represents a windfall for the bank at your expense. Before signing any loan agreement, ensure your private banker includes a Tax Credit / Tax Benefit Clause. This covenant legally obligates the bank to pass back or refund any foreign tax credits or tax benefits they realize as a result of your gross-up payments. 📌 Key Takeaways for Investors 1. Loan Jurisdiction Matters: Where your loan is booked determines whether cross-border WHT applies. Booking loans via a local overseas branch in your jurisdiction of residence can often bypass WHT altogether. 2. Read the Fine Print: Carefully inspect the loan contract for mandatory WHT gross-up provisions. 3. Negotiate Reciprocity: Never accept a Gross-Up Clause without a corresponding Tax Credit Refund Clause mandating the bank to return any tax benefits they claim on your withheld taxes.