I am pretty confident that they spend a lot under company expenses, like cars, personal staff.

Yes, cars and drivers at vp level and above

Product Marketing Manager

Nothing as such in Unacademy, leaders are taking a cut twice this year, recent one was a 25%

Software Engineer

Founders create some liquidity for themselves during funding by selling their shares.  
  
 https://www.growthmentor.com/glossary/secondary-sale/ 
  
 Real money is made in secondary sales.

Product Manager

Talking about the salary of founders is dumb, it's all about that equity. They can take a loan on equity and end up living like kings without paying any taxes or drawing any salaries

Which NBFC gives a loan on unlisted equity and at what interest rate? Or are you referring to a loan from the company itself?

Which bank in India gives a loan on basis of unlisted company shares?

Backend Engineer

Founder

The gallery of rogues 👹.. unbelievable that a company that does revenues of 13.5 Crs should be worth USD 0.5 bn 😱..

Growth Manager

Welcome to Office Gossip's Private Community

Pls disclose secondary sales

Pls disclose secondary sales- Grapevine

Welcome to Indian Startups's Private Community

Hi,

Here's a quick summary for taxation of RSU's.
This is for employees who get stocks of their parent companies listed abroad as part of their salary package.

The RSU are taxed after clubbing with the salary as a perquisite and thereafter in Capital gains arising on account of holding such shares.

At the time of grant: No tax liability.

At the time of vesting: The  fair market value of the share on the date of vesting is taxed at the slab rate by the employer by selling the shares to cover the tax liability.
Example - If you have 10 RSU vested, your employer will sell 3 RSU to cover the tax liability and will give you 7 RSU.

At the time of sale: After vesting, the difference between fair market value on the date of vesting and selling price is taxed as capital gain as below:
a) Holding period of more than 24 months,  long-term capital gain, taxable at 20% with post-indexation benefit. 
b) If the period is lesser, it is short-term gain taxable at the slab rate.

At the time of filing ITR, you should declare the holding of foreign shares in schedule FA

Taxation of RSU ( Restricted Stock Units)

Chartered Accountant

Welcome to Software Engineers's Private Community

For US based company's employees which provide stocks - How do you file your income tax ?

1. Do you declare your foreign stocks in ITR ?
2. Do you do self filing ? Or use online tax filing websites ?
3. Do you take services of a CA ?

I'm looking for best way to do it with minimal involvement from my side. Please add service charges by websites/CA in your response as well.

PS - This is my first financial year where I hold foreign stocks. Looking for guidance. Thanks.

How do you file taxes with foreign stocks in your portfolio ?

Another lower circuit :/

Program Manager

Corporate Strategist

The Nike app barely gives 25% off while price tags on Nike shoes are so low on Flipkart. They do write it’s genuine and the box which comes seems pretty legit too. So how do they sell it for so low?

How are Nike shoes 50% off on Flipkart?

Stock clearance, mostly size 10 and less (for women)

For men I'm didn't check

I couldn’t get in my size but if it helps someone, cool! 

Original MRP 2000

To Whomsoever it may be useful: Marks & Spencer has cute sweaters at 790rs

Consultant

Welcome to Personal Finance's Private Community

I am of the understanding that capital gains under 1L are tax free and those gains aren’t to be added to your taxable income. However, I met a friend this evening who informed me that her CA says that capital gains are always added to the taxable income and are not really tax free regardless of them being under 1L. If this is true, my friend is not getting the 6K rebate she was hoping to get since her taxable income now crosses the 5L barrier. Had the capital gains not been added to her taxable income, she would well under this 5L barrier. 

Can anybody please confirm if this is indeed true?

Some additional context: The capital gains are from her ELSS investments which were sold in the last FY and amounted to about 50k over the sale of about 1.7L

If this is indeed true, I have a follow up question from an inversion POV - if capital gains indeed exceed 1L, will one then be taxed twice? i.e. The 10% LTCG tax as well as the slab based tax on taxable income (salary - dedications + capital gains)

Capital gains related tax query

Warning: This is a lengthy post. 

Filed some salaried ITRs during this tax period. Following are some of the common mistakes which can be avoided

1. If you have changed jobs ensure that income from previous job is disclosed to the current employer and TDS gets deducted correctly. One basic check you can do is the TDS deductions made by new employer should not be lesser than monthly deductions done by your previous employer unless you have lower CTC compared to your previous job or have additional deductions.

2. During Feb/March take your bank statement, trading account statement and declare the income from capital gains, dividends and interest to your employer, so TDS can be deducted accordingly. Helps in avoiding surprise cash outflow in July and saves from paying interest @ 1% per month on this tax

3. If you have ESOPs/RSU from Foreign Companies this should be disclosed in Foreign Assets and liabilities schedule. Some employers would have opened bank accounts in that country to settle your ESOP transactions. This is also required to be disclosed under foreign bank accounts. If the ESOPs and RSUs are from unlisted Companies then it also has to be disclosed under unlisted shares held. Additionally if you are Indian resident as per the Income tax law (most of you will be) your global income becomes taxable and any dividend received on these ESOPs or capital gain on sale of ESOPs of foreign Companies has to be offered to tax. However, if there are taxes deducted on these transactions the same can be claimed by filing Form 67.

4. For current year if you are in salary bracket above 20 lakhs then new regime will be beneficial mostly unless you have housing loan interest  from Self occupied property. Under new regime Employer contribution to NPS up to 10% of basic salary can be claimed as exemption.

5. Get a good consultant today itself and plan the your finances accordingly. In case of salaried individuals there are very less avenues to save tax after March

Income Tax

"BYJU’S grew considerably since our first investment in 2018, but, over time, its reporting and governance structures did not evolve sufficiently for a company of that scale. Despite repeated efforts from our Director, executive leadership at BYJU’S regularly disregarded advice and recommendations relating to strategic, operational, legal, and corporate governance matters. The decision for our Director to step down from the BYJU’S Board was taken after it became clear that he was unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders."

https://techcrunch.com/2023/07/24/prosus-questions-byjus-governance-says-indian-edtech-regularly-disregarded-advice/?tpcc=tcplustwitter

This is major - Prosus just publically said that BYJU's had improper governance and failed to improve despite their recommendations

Largest shareholder saying this publicly, I wonder if there is any way of recovering from this point

Investment Associate

Meesho ESOPs

Has anyone sold ESOP’s in secondary market? If yes, how did you find the buyer?

Engineering Manager

Today I learned: Kunal Shah only draws a 15K salary 👏🏻

UX/UI Designer

Welcome to News Discussion's Private Community

They run the brand's manmatters and bebodywise - had recently raised $30 mn.

So my birdie tells me that mosaic wellness numbers are fudged and over reporting of revenues happening! What do you guys think?

Investor

We are looking for a good society to buy a 3bhk for our parents. Considering they don't need much travel, no school proximity restrictions etc, but at least good accessibility to regular items like groceries, malls, markets etc with good social cosmo crowd where some mix events are also celebrated, they can pay reasonable maintenance and enjoy the rest of their time... Pls note budgeted options are preferred so kindly mention the range of society flat as well.. Resale preferred eo that they can shift asap

Good society in Bangalore for parents??

Looking for Leads GM trade for Swiggy IPO

Any Swiggy Team members looking to sell in the grey market?please DM

Software Developer

I hold one offer for 13LPA CTC from a fintech.

Is it okay to tell other companies that I hold an offer specifying the company name and package? Can the companies I'm interviewing relay this to the company I have offer from to revoke the offer to gain advantage in negotiation?

Sharing current offer details to other companies

Data Analyst

As title says , there are so many narratives going around 

Could you give some insight how the management is working upon it

PayTM employees , could you tell us some insider information

The Startup that you had an offer from but did not join, and then it went big? (Let's take a word from VCs, how they like to use anti portfolio lists on their sites - cos they got an opportunity to enter but missed)

What's your anti-startup

I’m a Frontend Developer and also familiar with backend. I would like to build a secondary source of income. I haven’t decided on the option yet. Here are the ones I’m planning to consider:

- Freelancing - Not sure how to start. I think listing myself on upwork or other similar platforms will be hard for me to get clients with the competition that we have in those platforms 
- Blogging - Earning via Adsense. I don’t think I can cover all my expenses with it but it helps for smaller expenses 
YouTube- I’m not experienced in video editing. Not sure how to start. Also how many more years it will take for me to get monetised?

These are the options that I know. Please share the suggestions/ articles that can help me to get started. 

I can put around 7-10 hours per week for doing this.

Thanks in Advance

Secondary Source of Income

Frontend Engineer

Investors are pulling the plug. The startup is winding down. Chaotic scenes inside.

Fampay is fucked

Project Manager

Is it safe to purchase?
What would be the process of resell?
How will they get transferred to us?

Pls disclose secondary sales

Discover More

Indian Startups on

by Isaiah Lee

Stealth

Taxation of RSU ( Restricted Stock Units)

Software Engineers on

by Matilda Carmden

Microsoft

How do you file taxes with foreign stocks in your portfolio ?

Indian Startups on

by Isaiah Nadeen

Series A Startup

Another lower circuit :/

Memes on

by Dezi Lee

Plivo

How are Nike shoes 50% off on Flipkart?

Misc on

by Jordon Everett

Stealth

To Whomsoever it may be useful: Marks & Spencer has cute sweaters at 790rs

Personal Finance on

by Kendall Carmden

Startup

Capital gains related tax query

Personal Finance on

by Blair Lee

Freelancer

Income Tax

Indian Startups on

by Isaiah Taye

Venture Capital

This is major - Prosus just publically said that BYJU's had improper governance and failed to improve despite their recommendations

Indian Startups on

by Kendall Lee

CARS24

Meesho ESOPs

Indian Startups on

by Karilyn Gabriel

Yubi

Has anyone sold ESOP’s in secondary market? If yes, how did you find the buyer?

Indian Startups on

by Matilda Olive

Google

Today I learned: Kunal Shah only draws a 15K salary 👏🏻

News Discussion on

by Jordon Vernon

Stealth

So my birdie tells me that mosaic wellness numbers are fudged and over reporting of revenues happening! What do you guys think?

Bangalore on

by Isaiah Vernon

Morgan Stanley

Good society in Bangalore for parents??

Indian Startups on

by Kendall Lee

Stealth

Any Swiggy Team members looking to sell in the grey market?please DM

Personal Finance on

by Kalan Carmden

Stealth

Sharing current offer details to other companies

News Discussion on

by Jordon Carmden

Swiggy

PayTM employees , could you tell us some insider information

Indian Startups on

by Kalan Carmden

Startup

What's your anti-startup

Software Engineers on

by Anise Lee

Early Stage Startup

Secondary Source of Income

Indian Startups on

by Karilyn Lee

Stealth

Fampay is fucked

Personal Finance on

by Kendall Carmden