Blank verse. Colors. Scrawls. Scribbles. Stills. Chartered Accountant. Registered Valuer. Founder: @mildwaveadvisor
Manipal/Bengaluru
Joined June 2009
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Kini retweeted
Borgaon-Dhadaknal in Latur district was hit by unprecedented rains, flooding homes and causing major loss.
Children lost not only their belongings but also their school supplies.
Please donate o help them return to school with hope.
Link razorpay.me/@karvaanfoundati…
or
UPI rzpfnorimkarvaanfoundationudgir@yesbank
or
Scan the QR code
@karvaanNGO @adtpatil
Kini retweeted
We need to get the full judgement, but the concept of a Supreme Court scrapping an accepted resolution plan FIVE years after it was okayed by lenders and everyone else - this is a very bad precedent.
Kini retweeted
Voters and tax paying citizens of Bharat should make parliamentarians who disrupt proceedings to pay for every minute of Lok Sabha rendered unproductive owing to this undisciplined behaviour.
Dissent is valid not indiscipline!
#Loksabha #BudgetSession2025
youtube.com/live/J9_97djkAVc…
Kini retweeted
Of all the VC talk of AI Agents disrupting other industries, not sure if they are thinking deeply on how it will disrupt their own model.
If Startups don’t need large Tech / Distribution teams, and if revenue per employee ramps significantly …
what happens to the “Raise ever larger rounds to show fund markups and increase Fund Size” Management Fee Model?
Kini retweeted
I've probably worked 100 hours a week for nearly all my working life, but most of that was as an entrepreneur. You don't have to enforce working hours. People who are motivated will work happily. In any case most real work happens in 4-5 hours a day, but you don't know when that happens.
I still find it difficult to call meetings as work but it takes more energy than what i call work. At some level this working x hours argument is ununderstable to me. When i play, I will play hard. When i work I'll work hard. I suggest you find your rhythm, and I hope you find success in that; major economic rewards will come, sometimes now, sometimes later, to people that don't watch clocks.
Kini retweeted
There are opinions about the Hyundai IPO, and I'm not going to recommend or otherwise, but two nuances you must note
Oh, it's only an Offer for Sale: versus giving the company money, you're letting the shareholder (Hyundai Korea) exit.
You actually want companies that don't need your money to grow, and generate enough cash on their own. It's not really growth investing, these are usually steady state companies that have a solid base etc. Which is why you end up paying a lot higher in terms of market cap.
In that sense, when you buy shares in the secondary market, the company never makes anything. You buy from another shareholder. So unless you're like I will not buy from other shareholders because it's against my religion, it's perfectly fine to have an IPO where others are selling.
The bigger question should be: are they selling and running away? That was the case in many startups where the VCs just want to exit, sometimes at any price they can get. That sucks. And they'll keep selling after the IPO also. But it's not quite true in the Hyundai case, cos they remain large shareholders and continue to run the co.
Just saying it's not a valid criticism in my book. This is not an endorsement of the IPO itself.
Oh, they took out the money as dividend! The money in the co is their money - they created it, built the co and have so much cash in there. That cash is not required to grow the business, more than 10,000 cr. This drags down ROE also, because your equity is unnecessarily high. It's better to reduce the cash, and as you generate more profit, you will have a higher ROE and anyhow you don't need cash or debt to run ops.
A more weird thing was when Indigo took out dividend before they listed, because Indigo needed cash. Yet, even that was fair, all the cash before the IPO is of the shareholders before the IPO.
As long as they reveal the dividend, there's no problem.
There are other concerns - for example, a higher royalty will be paid to the Korean parent from this year onwards. The car market is not yet found its glory days. Hyundai has more competition in India, esp in the electric segment. There is also the fact that Kia isn't Hyundai India (it's owned by the global parent) and more innovation could start coming in the Kia brand.
Those are more useful risks to talk about, IMO. The first two in this post are unnecessarily petty. I'm sure we'll also hear things like oh but the promoter got shares at much cheaper. Again, that's the return for risk. That's capitalism.
FTR, I'm not applying and we don't have a position.
Kini retweeted
I think it's good though cos it will be educative , in whatever little facts and all the entertainment, and then perhaps some good opportunities come our way...
Kini retweeted
Someone's already short and gonna cover their shorts after releasing a mostly sensational and some fact oriented report, and if you're wondering who the Patsy is, it's you :)
Facts like oh he had dinner with this guy twice so we should consider both of them promoters.
Kini retweeted
I will question whatever #Hindenberg says because of this. Only this. I cant ignore it. If others can, good for Hindenberg!
They are questioning conflict of interest?? 😆Their whole report begins with a conflict. Let them write stuff and confirm that they and none of their clients have positions and I will take them seriously.
Kini retweeted
This is for my professional friends. If you're working properly and giving 100% value to your clients, please increase your fees and account for inflation.
I am sharing a message where I hurt my client's ego as I raised fees after 4 years
Message to the client:
If you feel that the fee increase is unfair, please proceed with any amount that you feel is ACCEPTABLE to you.
But, I have a few clarifications:
1. A CA's fees do not depend on the turnover/profit. We never charge a percentage of profit or sales. In case of an unreasonable/severe situation (For example, COVID), we have given a 100% waiver for that quarter in the past and understand the situation on your end as well.
2. I do not run a subscription business so the amount of time required to perform these tasks are same every year. Although, the infra, rental, employee costs, food costs increase for us as well. So, it is but natural that we have to increase our fees as well.
To give you an example, an employee who joined 5 years back at 15k per month salary, now takes 27k as a salary per month. So, if he takes 5 hours to complete something manually, the cost of those 5 hours is not the same now.
(So, imagine how do we sustain and grow when our costs for those 5 hours have increased with no increase in revenue.)
3. If you want to compare our services with the market, then some people charge 500/- for this and those who also charge 15000/- for the same services. The kind of quality we provide can be verified from the GST notices received by you. There is only one notice in FY 2017-2018 (the period in which we did not work) but there is no notice for 18-19 and 19-20 (the time limit to issue notice is also time-barred for these years). You can very well see the quality aspect here and thus, you cannot compare apples with oranges in my opinion.
In your response, you cannot say that XYZ is charging an X amount compared to what we are charging and providing in return. The reason I say this is, that you ask any vendor of yours and 1 out of 2/3 must have been crazy busy dealing with GST notices paying interest and penalties due to inaccurate/wrong return filings etc etc.
We have made sure that you incur no loss in terms of interest and penalty.
In addition, you have not received any notice from ROC or Income Tax as well in all these years.
Going forward, we will do an yearly/two yearly increase in our fees from now onwards as per inflation % increase data so that both sides have clarity and there is no scope of misunderstanding.
We will also keep a cap on number of consultations we do. Sometimes, we are also solving a lot of accounting-related queries which is not in our scope of work.
Auditing and accounting are two separate works. You may feel that it is included but every such thing takes time. We do not charge anything separately there.
We, as professionals have our and our team's time as a commodity to sell which is limited. Therefore, we have to factor in the time spent and quote accordingly.
I hope you will empathise with our side of the situation too and try to understand the points I am trying to make positively.
#ICAI
Kini retweeted
CNBCTV18 Newsbreak confirmed. Govt moves amendment to provide relief for real estate under LTCG regime
Govt to allow taxpayers to avail either lower rate of 12.5 percent without indexation or higher 20 percent rate with indexation if property acquired prior to July 23, 2024. Relief proposed in respect of taxation of immovable property:
In the case of transfer of a long-term capital asset, being land or building or both, by an individual or HuF, which is acquired before the 23rd day of July, 2024, the taxpayer can compute his taxes under the new scheme [@12.5% without indexation] and old scheme [@20% with indexation] and pay such tax which is lower of the two @CNBCTV18News @CNBCTV18Live #BudgetWithCNBCTV18 #BreakingNews
Sources: Govt prefers grandfathering till July 2024 as relief to counter removal of indexation for real estate; decision not finalised
Govt also weighing if option can be given to stick with old or switch to new LTCG regime for real estate;Decision not finalised. Demand for amendment has come from real estate sector, so relief if any, likely only for real estate.
Final decision yet to be taken; FM likely to reply to finance Bill today or tomorrow @CNBCTV18Live @CNBCTV18News #BudgetWithCNBCTV18 #RealEstate #LTCG
Kini retweeted
Don't worry about Real Estate. It continues to get super advantages in so many ways:
* You can invest long term gains in ANY asset into a house and save LTCG tax (no other asset class has this)
* You get to offset principal against salary (80C)
* You get to offset interest against salary (24)
* You get lowest interest rates on home loans (versus business or loan against shares or such)
* Rental income from homes get 30% off no questions asked (only rest is taxed) - for any other asset, any income generated is fully taxed (like dividends for shares)
So yes, one tiny little tax might have gone up for a few people in RE, but real estate is one pampered asset class regardless.
Kini retweeted
This is not a great market to keep harping about valuation. Nearly everyone who's been around longer than 5 years knows that many stocks are wildly overvalued. But those with decades of experience know that stocks can remain overvalued and get even more so.
It's time to be aware that you're all riding a tiger. If you're 10% cash, you're not in cash. That is 90% invested. And if you're even in "largecaps" or "defensives" that will still mean you will fall like crazy when you do; in fact the "offensives", i.e. everything other than what you own, could go up another 50% before falling, and end up bottoming out higher than where you end up.
There is zero predicting ability on stock movements right now. It's a mad market, and will remain one until....it's not. The point isn't to keep warning people that it's getting too hot. I've heard this from last December and we're up some 30% or more since. It could fall tomorrow, and it could fall 10 months from now. The better thing to warn people is: stay nimble, and stop loving your stocks. When markets fall, even the ones that give you the most smiles today might need a harsh goodbye.
But till then, accept all the incoming awesome upmoves that you cannot explain. You don't have to explain everything good that happens to you, and you probably don't deserve it, but you're getting it anyway. Happiness doesn't need entitlement - it just needs the ability to sit back and enjoy it while it lasts.
Kini retweeted
Anyone has contacts of furniture stores who buy second hand furniture? Preferably in South Bengaluru who will come home and give a decent amount for everything that we have to sell, take everything and go.
Moving out shortly to a new place and planning to change all furnishings!
Kini retweeted
The "defensives" are not defensive. The flagship defensive, Hindustan Unilever is at 60 times earnings and grows at roughly inflation+population growth, because you just cant use that much more soap.
If it gets valued at 20x, as Unilever UK is, that's a 66% fall.
Kini retweeted
Excellent. President of Guyana @presidentaligy takes BBC to the cleaners in this interview like never before. Must watch to see western hypocrisy being exposed by a country of the Global South. This is the mirror that has to be shown in response to western bullying & propaganda.
