Sunday, November 12, 2023

India tax surcharge around 50 lacs and how it impacts the actual in hand money (marginal relief on the surcharge payable)

 I have allways known that their is some surcharge around the 50 lac mark that impacts how much tax you pay as your income exceeds 50 lacs, 1 crore and so on. Below are the slabs.

Income Range

> Rs.50 lakh

> Rs.1 crore

> Rs.2 crore

 > Rs.5 crore 

Surcharge Rate

10%

15%

25%

37% 

However this would imply that a person earning 50,00,000 would pay additional 10% tax compared o the person earning 49,99,999, this is unfair and hence the provision of a marginal relief on the surcharge payable kicks in as follows (Explained below) 

Below i have computed the actual tax payable and in hand income after tax.

Notice, there is a dead zone from 50 to 53 lacs where increase in salary is not leading to any increase in in-hand income due to surcharge kicking in




According to the Income-tax provisions, a marginal relief will be provided to certain taxpayers up to the amount of the difference between the excess tax payable (including surcharge) on the income above Rs.50 lakhs and the amount of income that exceeds Rs.50 Lakhs. 
Suppose, an individual has a total income of Rs.51 Lakhs in a FY 2022-23.

  • He will have to pay taxes inclusive of a surcharge of 10% on the tax computed i.e., total tax payable will be Rs. 14,76, 750.
  • But, if he would have earned only Rs.50 lakhs, then the tax liability would have been Rs.13,12,500 only(excluding cess). 
  • Isn’t it unfair for the individual? For earning an extra Rs.1,00,000, he will end up paying income tax of Rs.1,64,250. The individual’s tax liability should be reduced to avoid any such excess tax payable. 
  • The individual will get a marginal relief of the difference amount between the excess tax payable on higher income i.e (Rs.14,76, 750 minus Rs.13,12,500 = Rs.1,64,250 ) and the amount of income that exceeds Rs. 50 Lakhs i.e. (Rs.51,00,000 minus Rs.50,00,000 = Rs.1,00,000). 
  • The marginal relief will be Rs.64,250 (Rs.1,64,250 minus Rs.1,00,000). 
  • Hence, income tax liability on income of Rs. 51,00,000 will be Rs.14,12,500 (excluding cess)





Friday, October 20, 2023

The Teddy Bear


Tanya clutched the teddy bear to her chest, her eyes sparkling with joy. She looked up at her father, who was standing beside her with a weary smile. "Please, daddy, please," she begged. "Can I have it? It's so soft and cuddly. And it has a pink bow, just like mine. Please, daddy, please."
 Her father sighed and stroked her hair gently and said, "Beta, you know we can't afford it. We have to save money. Aur aapne abhi recently hi to itne saare toys liye hain, We will buy it later ?"
 She shook her head stubbornly and hugged the teddy bear tighter. "But I love it, daddy. I love it more than anything. It's my new best friend. It will keep me company when you're at work and mommy's at school. It will make me happy when I'm sad. It will listen to all my secrets and dreams. Please, daddy, please. I want it NOW" 
Her father felt a pang of guilt and sadness in his heart. He wished he could give his daughter everything she wanted, but he knew he couldn't.
He looked into his daughter's hopeful eyes and felt his resolve weaken. He knew he shouldn't spoil her, but he also hated to disappoint her. He loved her more than anything in the world, and he wanted to make her happy.

He reached into his pocket and pulled out his wallet. He hesitated for a moment, then he thought about his daughter's smile and laughter and happiness that he had to give her.

He smiled back at her and said, "Okay, sweetie, okay. You can have it." 
 She squealed with delight and threw her arms around him. "Thank you, daddy, thank you," she said. "You're the best daddy in the world."
She loved her teddy bear more than anything in the world. It was a gift from her daddy. It was soft and fluffy, with brown fur and black eyes. It had a pink bow around its neck, just like hers. She named it Rosie, after her favorite flower.
 She took Rosie everywhere with her. She played with it in the garden, where they picked flowers and chased butterflies. She read stories to it in the living room, where they sat on the couch and snuggled. She sang songs to it in the kitchen, where they helped mommy bake cookies and cakes. She shared secrets with it in the bathroom, where they brushed their teeth and combed their hair.
But her favorite place to be with Rosie was in her bedroom, where they slept together every night. She tucked Rosie under the covers, next to her pillow. She hugged Rosie close to her chest, feeling its warmth and softness. She whispered "I love you" to Rosie, and Rosie whispered back "I love you too". She closed her eyes and drifted into a peaceful sleep, dreaming of happy adventures with Rosie.
 She felt safe and happy with Rosie by her side. Rosie was more than just a toy. Rosie was her best friend. 
 The one day while shopping with her mother she lay her eyes on something new... She stared at the barbie doll in the shop window, her eyes wide with wonder. She had never seen anything so beautiful in her life. The doll had long blonde hair, blue eyes, and a pink dress. She wore a tiara on her head and a necklace around her neck. She looked like a princess. 
 She pressed her nose against the glass, wishing she could touch the doll. She imagined how it would feel to hold the doll in her arms, to brush her hair, to dress her up. She imagined how the doll would be her friend, how they would play together, how they would share secrets and stories.
She wanted the doll more than anything in the world. 
 She turned to her mother, who was holding her hand. She tugged at her sleeve and pointed at the doll. "Mommy, mommy, look," she said. "Can I have it? Please, mommy, please." 
 Her mother looked at the doll and then at the price tag. She shook her head sadly and said, "I'm sorry, Beta, we can't afford it. Apne abhi hi to Teddy Bear liya hai."
She felt a surge of disappointment and sadness in her heart. 
She looked at the doll again and felt a tear roll down her cheek. She wanted the doll more than anything in the world. But she knew she could never have it. Not till she Had Rosie.
Bit by bit she stopped playing with Rosie and couldn't really rememeber why she had got her in the first place. Her bow had gotten muddy, eyes fuzzy and she had lost a lot of its fur which made it less cuddly. She couldn't even change the colour of her shoes. 
Tanya had grown up a lot in the last year. She was almost a teenager now, and she wanted things that suited her age. All her friends had fancy new dolls that could talk and walk and do all sorts of things. Rosie embarrassed her in front of her friends. 
 Slowly a conspiracy hatched in her head. What if something were to happen to Rosie, something to make it go away, something which wasn't her fault. She lay in her bed brooding about it while Rosie's heavy judgmental eyes stared at her. Surely She couldn't hurt Rosie, or could she ?
 By and by Rosie grew even weaker losing her bow and one of her eyes popped out. Tanya played with her even less and hid her deep inside her closet, where she was forgotten and neglected. There she suffered from dust and bugs and mold.
 Till one day .. The unthinkable happened. 
Rosie went away.... 
No one knew where she went or how to find her. Tanya was beside herself with grief. She cried and cried in front of her dad, who tried to comfort her. He wondered what he could do to make Tanya feel better. Her mom suggested buying the doll for Tanya, thinking it would cheer her up. Her dad agreed and took Tanya to the shiny new doll store and bought her the fairy tale dress up set.

Tanya was overjoyed.
Rosie winked from under the gutter hole, happy for Tanya's happiness. Tanya's secret was safe with her, buried deep in her heart. They shared a special bond that no doll could ever replace.

Rosie knew that one day Tanya would realize that too.

And she would wait for her.

Forever.

Sunday, October 2, 2022

Bangalored (A software engineers life who just moved to bangalore after college)

 Bangalored (A  software engineers life who just moved to Bangalore after college) 

----------


Ch 1) Freedom

a) College ka aakhri din

b) 1 mahine ghar pe waiting for job to begin

c) Mammi / Papa delhi airport tak chodne aaye (chote shahar se 5 hrs car journey)

d) Delhi T3 aur Bangalore airport ki chakachaundh dekh kar laga bhai kuch gadar hone wala hai

e) Bangalore airport ke bahar traffick jam

f) Pehli baar jindagi mein hotel check in kiya

g) Baaki dost mumbai / kolkata  see aye thi unse milaap

h) Office ka pehla din :- shirt pant pehen ke pahunche

i) Free ki pepsi, badaam milk , biscuit pehle din mein hi pet kharab

j) Hr is mulakaat, PAn card , PF vageraah ka application

k) Boss se mulakat, laga ab to agla google hum hi banan wale hain


Ch 2) Kiraye ka Ghar

a) broker ke saath 2 hafte ghar dekh dekh ke tang

b) Itna chota kamra mein 2 log , isse accha to college ka kamra tha bhai

c) 2 L advance ke liye office se loan

d) Parents ka bangalore trip

e) Nihgt out maarke kaam complete karna


Ch 3) Loan pe bike 

a) Nandi hills tak road trip

b) Paents facebook pe pictures dekh ke dukhi

c) Bade baal aur biker jacket

d) Chai aur sutta

e) Pub / bar aur dance bar

f) kaam pe Naye project chahiye


Ch 4) Bandi 

a) Pehli baar bandiyon se itni izzat

b) Izzat sir chadh gai, 2 bandiyaan ek saath 

c) mall ki chakachaundh aur paise ki barbadi 

d) Commercial street mein dusri bandi ke saath time ki barbaadi

e) dono se breakup, dost hi best hai 

f) Office wali bandi se office mein man mutaav

Ch 5) Pehla US Trip

a) App ka sapna

b) US ki sadak itni saaf kyun hai bhai

c) US ke doston ke saath party

d) US transfer ki koshish 


Ch 6) Mera boss chor hai

a) appraisal ka nateeja

b) Startup karna hai bhai 

c) Cat ki tayaari 


Ch 7) Moksh ki praapti 

a) na cat hua na app na startup, par doosri job se call aaya hai 

b) Shaadi ka proposal 

Tuesday, March 2, 2021

The Meeting must go on

Maybe Yes Maybe No 

We Dont know, Dont We Know ?

Smoke and Mirrors Brightly Glow

All wise men in the know

Can't discern but a slide show ?


Thine divine insights we seek

O Lord let us hear thee speak

Skips hear me silent yell

On my lips but not to tell

Take off tinted glasses gold

Take a peek at masses cold


The clock chimes six  to signal light

and then fix some more in the night

Under the radiant moonlight so bright 

Thunder or rain we must go fight


'Toingg' a notification appears

Boinks to action my peers

This review, this demo, this update

Tomorrow will be yet another's fate

Meet Bray Serve till I'm gone

Yes; this meeting must go on


Fun to see the kids sometime

reminds me of a simpler time

It never ends; this pantomine

Just portends long lost sunshine

Yes; as the truth must slowly dawn

This meeting must go on

Sunday, February 21, 2021

A Pure snowflake


How is this a girl so pure ?

Dainty smile and ethereal allure

A candle shining in the world so boor

A ray of hope in a haze obscure


No waking up to see her dumbo face

No looking in her eyes in locked embrace

No eating cheetos off her mane

No getting drenched in the rain

No eating her cake and having it too

No seeing her paint as i softly coo

No celebrating her career advance

As we sing caress and dance

No long walks in the park

Oblivious to the dogs that bark

No holding her while she cries

Something inside me slowly dies

NO no no no Donut for me 

For i am the evil he



I will leave mid way she fears

A thought that drives me to tears

Such misery she feels

at the thought of us off our keels

Such emotions i knew not i could cause

Oh how can i get her to unpause 


How can i leave someone who

Always gets me out of my Blue

She Makes me a better me

To my happiness she is the key

She is my own shot of espresso 

Yes, Im addicted to my beau


She met all the skeletons in my closet

From her eyes i saw my own audit

Oh what i would not do for her, 

but alas a time machine is a distant blur

In the end there was one sin too many

Who could love such a fanny

Everything's so messed up with me

Pretty sure she don't want to be my baby



When i see the moon i think of you

like a pure snowflake only to see but not to hold

"Intuit" Did someone say ?

Let loose this shower they may

As i feel more and more blue

Yes boys can cry too


Goodbye my sweet rose, 

May you always bloom

how i wish to be worthy of your thorns

You deserve nothing but the best

I may in another life be blessed

A pure snowflake in this corrupt air

An answer you were to my prayer

Saturday, September 8, 2018

poem on war

This Poem is a follow up to this post about the game of diploacy

https://yumndrum.blogspot.com/2008/02/communicationsnegotiations-game.html

Yes you have my support and like
But only till the conditions be right

In Anonymity friendships are forged
That in reality could only be forged
Behold, Germany and Poland act as one
When all the Pole ever got was the gun

Support my Hold cried the dane
Her armies lost in plight so vain
The British convoy swam so grand
Could not keep her own mainland

Zion that lone star in the East
Lioned by the Pharaoh beast
Her Centres of supply so gallant
Now birth Egyptian Army Gallant

Yet for a minute did anyone care
'bout the peasant or her mare
Be it the Czar, the Sultan or the Knight
Its the poor who must pay for the fight
And Pay they do with their life
Ahh Treachery that unfair Knife

East, West, North or South
Two Ears, a nose and a Mouth
Brothers in this World so Queer
Wish you all the Love and Cheer

Sunday, May 27, 2018

Security Vulnerability in Google Accounts

  


There is a bunch of security vulnerabilities on the google account which i have raised via issue :- https://issuetracker.google.com/issues/80305862. This issue exists not due to a technical failure but a weak user experience which makes it easy for a hacker to trick a victim into ceding access to their google accounts. Note this issue only affects people who have chosen to use their android devices as a authentication mechanism for their google accounts.


These popups (Above) appear at least 20 times on my Android phone. They shows up  without warning right in the middle of whatever it is that i may be doing.

Normally, i would have ignored this but the other day i was playing a game and was pressing ok and yes without much attention when this showed up and set my alarm bells ringing. So i decided to investigate this further.

Upon further scrutiny i found out that a hacker can write a small script to submit my user name to a google login form and generate this prompt.

Whats more the first 20 attempts per day to do this do not even have a captcha protection. 

If a hacker were to run this script against a 1000s of such accounts it is possible that at least 1-2% people would inadvertently press yes and cede access to their google accounts.

The second popup is worded even more confusingly . What does "Confirm Security lock" mean, if i click that and enter my screen lock to unlock my device to figure out whats going on I have already been hacked.

In view of all this i decided to change my password. And now i cant even do that since the link to change password is broken and is leading to a 404 not found with spammy content right on the *.google.com domain. (See video below)





Monday, March 12, 2018

That Sinking Feeling


I can't taste the Pizza or the wine
Coz i Know you'll never be mine
Everyday, I sleep in shirt and jeans
Tossing and turning in fit full dreams

Only to wake up in a pool of sweat
If only I could think of something else
A mobile notification comes up
Aching heart jus won't give up
Did I think that being ignored was bad
Boy, the knockout punch wasn't so rad

The passion of a thousand stars in vain
Without a whisper to express my pain
Just cant imagine being Happy again

A breaking heart creates no sound
Barely Visible the world around
Numb, the mind plunges down
Suffocating emptiness envelopes around
No Melody can my ears hear
As my limbs refuse to bear

Questions reverberating in my head
All the stuff i shouldn't have said
I never told you what you meant
Wasted all the time that we spent

I can't imagine a life without
Love is all that life is all about
This feeling i will always cherish
Till struggle ceases and my bones perish

Sunday, January 14, 2018

Love, Hardships, Mistrust and Heartbreak

In this decade twas year the fourth
The Ice broke that shook the North
By by by sweet lil nothings flew
And so it was that nothings grew

The perils of the mountains asunder
Spud that grew in the Rain and Thunder
It took the courage of the Fifth
For eyes to meet and the hearts be with

The year that was bliss
oblivious to the homes amiss
Not of the world is He
Who is with the souls that be

Oh how they dueled the nation
As one they had but one disaffection
The siblings were the first to give
As the folks learned to let live

While the date was in the Sixth
A chink in trust was born in the mirth
An intractable horse, it took a life of its own
For a stranger she lost what was once her own
He apprehended a love so one sided
The Quake which shook his mind

Forgotten lie the dreams of desires
A Plague which destroys empires
A house which was a home in the sixth
Now an empty tomb in the Seventh

Monday, August 26, 2013

Weak Channel Affect

First the Terminology

1) A Task: A task is a particular objective which needs to be completed by performing a predetermined set of milestones. E.g. To get a job is a task, to get married is a task, to buy an object is a task.

2) A Milestone: A Milestone is a smaller unit within a bigger task. E.g. to get a Job you can a) Make your resume, b) Search for openings, c) Apply to openings. d) Prepare for Interview e) Ace the interview. And So on...

3) Channel:- A Channel is a medium used to complete a task. E.g to get a Job monster.com could be a medium, to get married friends/family could be a medium.

I state the Weak Channel Affect as follows.

Among Multiple channels if a particular channel is weak for a particular Milestone within a task than it becomes even weaker for all subsequent dependent milestones within the same task.

E.g. If getting a job is a task, and the channel naukri.com is the weakest in terms of getting shortlists.
Than this same channel will also be weakest in terms of getting an interview call as a ratio to number of shortlists.

E.g. 2) If Marriage is a task and shaadi.com as a channel is the worst performing in terms of searching for a suitable match, than for every 100 searches through this channel fewer will reach the next milestone than any other channel.

The crux is that the channel becomes even weaker even of the denominator is maintained the same as for other channels. 

Mathematically i = 1..n are a set of milestones.
and C is the initial population through a channel
Ei(C) is the number of samples crossing Milestone i, then by definition the weakest channel is one for which 

E1(Weak Channel) is the least of E1(All possible C's)

Now the Weak Channel Affect states that even if we take the same number of people who have crossed the first milestone from C and any other channel. a fewer number of people will cross the next milestone from the weakest channel as compared to other channels.

Examples in Real Life.
1) For a weak set of students, if you somehow get them to pass Grade 1, more will fail Grade 2 compared to a set of strong students, even as a ratio of total students passing grade 1.

2) For a set of poor employees, if you somehow hire them, fewer people will get promoted as opposed to a stronger set of employees.

3) For a poor set of customers, If you somehow pull them to the store. Fewer people will make a purchase as compared to a stronger set even a proportion to number of people entering the store.

....

Conclusions

A poor channel will always remain poor and can not be compensated for by increasing the throughput and hence it always makes sense to focus upon stronger channels even is this means a smaller overall throughput.






Saturday, January 29, 2011

My 2cents on Social Networks

Social Networks need to add a dimension of subject area to the Social Graph. What i mean is that just because I am friends with my accountant i should not be forced to see all his pictures and commentary on religious sentiments right on top of my news feed. However i would love to check out all his posts related to personal finance and investments. Quora addresses this very issue with the Subject Bio tag and following a topic or question in addition to following people.
Quora will carve out a special Niche for itself in knowledge management, would love to see features like question search based on tags and relevance to friends in a certain area.
There is so much noise on twitter that unless a mechanism to sort tweets based on subject area is soon developed i don't see how it would remain useful