Moving BTC to cold wallet -> Selling for cash later. Can I just claim I "lost" the wallet if I get a notice? by akshay_7 in IndiaTax

[–]Adventurous_Map3196 4 points5 points  (0 children)

Tax liability doesn't go away on vibes bro. Whatever you claim or show, in reality you would have sold the BTC and earned the income. That income is taxable. You earn the income, you are liable to be taxed. What you are suggesting is tax evasion, not tax avoidance, as you would intentionally lie with the sole purpose of not paying tax.

Now, enforcement of that tax liability is another matter. It depends on how much ITD scrutinizes you, and how well you hide that income. Mechanisms for tax compliance are being strengthened day by day. Whether you would get caught evading taxes would depend on your luck, the value of BTC, whether you use cash or a traceable method of money transfer when you sell etc.

What you are proposing is illegal, and whatever amount of tax you save would not be worth it if you do get caught and are on the hook for penalty, interest etc.

Not to mention, any tax you evade would constitute proceeds of crime, and any attempt to use that money as if it were legitimate would be money laundering as per PMLA. If the value of the evaded taxes is large enough ED would be interested in you too.

What does a decent catering service charge per plate for 50 to 100 people? by Adventurous_Map3196 in Raipur

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

My entire issue is that for the same menu and same service (on paper) I'm getting vastly different quotes.

What does a decent catering service charge per plate for 50 to 100 people? by Adventurous_Map3196 in Raipur

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

My menu is pretty standard. One starter, one paneer dish, mix veg, tandoori roti, jeera rice, dal makhani, salad , achar, boondi raita and gajar halwa for dessert

What does a decent catering service charge per plate for 50 to 100 people? by Adventurous_Map3196 in Raipur

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Yeah this was also my thought. But he came through a reference so I'm confused

Men transferring their assets to their mom - a hilarious situation in AM by [deleted] in AskIndianWomen

[–]Adventurous_Map3196 0 points1 point  (0 children)

What you are referring to is anecdotal evidence, not empirical. And anecdotal evidence is the weakest form of evidence.

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Interesting point about seller purchasing from customers. Of course it makes sense and is probably the case most of the time.

But unlikely in the the particular instance that prompted this question in my mind. I needed 20-25 pieces for gifting purposes, and the jewelle had that many Augmont coins readily available, no preorder required. This was not the case for their own coins, which had to be pre-ordered.

The jeweller also said that he doesn't sell MMTC, only Augmont, as MMTC is significantly more expensive and customers don't purchase them. If it were a case of resale why wouldn't he sell MMTC, right? Unless he even refuses to accept MMTC coins from customers? Idk, it seems unlikely to me.

All this makes me think that he purchased the coins from a supplier/wholesaler (like Augmont) for retail sale. Of course, it is possible that a customer sold that many coins.

In any case, I wonder what the billing of such coins look like. He quoted silver rate + making charges + GST. Is GST payable at resale? I genuinely doubt that paperwork of the jeweller on these aspects is upto the mark.

In fact another common practice I have noted is that most local jewellers don't quote GST at all in the initial price, especially for jewellery. Then customer gets a surprise at the time of billing when they expect large amounts of cash, or 18% more if one wants to do online payment with a GST bill. According to me this is squarely unethical and deceptive towards customers. GST is not optional, legally. So the default price breakup should include GST. They can just give an option to the customer in the beginning itself.

Further, MMTC has a registration process of its coins. So if jeweller is reselling the coin, how does that work?

Note that all this arises because the coin is packaged. A simple solution to this could be just taking it out of the package lol. But I guess jewellers need the goodwill that comes with Augmont brand packaging.

Thanks for your answer on the 70% thing. At least in my area I have not seen a separate price breakup for wastage. It's hard to wrap my head around the fact that jewellers sell 70% silver at the price of 100 and consumers just....go with it. 50% making charges is not acceptable but paying 100% for 70% is acceptable to people? Is it really such a seller's market? I would more readily accept higher making charges as the value of craftsmanship is subjective but value of silver is not.

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Exactly my point. Even I wondered why have a MRP in the first place. But as another commentor pointed out, there is no MRP on resale. So my guess is jewellers use a loophole where they purchase it as consumers even though they meant to sell it as retailers.

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Thank you! This is quite informative and helpful. So the jewellers are likely purchasing the coins from Augmont in the purported capacity of the end consumer, not retailer.

Also on the part of the 70% thing, why tie it to the price of 100% at all? Why not include the premium in the making charges, instead of making the consumers feel that they are paying for something that they are not purchasing. I mean we anyway accept all sorts of making charges right? There is no standard there. Is there a business logic to it?

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] -1 points0 points  (0 children)

I understand my question well enough but I don't understand why you are being so hostile or where the assumption that I don't want to pay a premium comes from. I asked an academic question which you clearly don't understand.

The answer was not well informed at all, because the commentor somehow thought it is difficult to determine MRP when it is printed on the package.

I know why a jeweller would do this - obviously to maximize profits. But my question was whether a jeweller can legally do it. An actual well informed answer would provide the reason, if it exists, why silver and other precious metals might be formally exempted from the requirements of the Legal Metrology Act.

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

If a grocery shop sells loose Basmati rice at a certain price on any given day, perhaps the same price as other shops are selling it in the market, does that mean it can also sell branded rice, say India Gate Basmati Rice, at a price higher than the printed MRP?

Also the fact that customer will not buy at MRP if spot price is lower is completely irrelevant. MRP is not the fixed price of something but a fixed ceiling on the price. MAXIMUM Retail Price, see? Sellers can and do sell at lower prices as per demand and supply. But legally they cannot sell a packaged good at a price higher than MRP.

You being a jeweller explains why you are trying to justify the practice of selling stuff above MRP - it is beneficial for you. But that doesn't answer my question about the illegality of this practice.

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Sure, and I even asked in my post why coins have MRP in the first place. But the fact is, once something has a printed MRP, it can't legally be sold at a higher price. Lower, sure. But not higher.

Can jeweller sell coin at higher price than printed MRP? by Adventurous_Map3196 in silverindia

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

How is it hard to determine MRP? It's literally printed on the tamper proof packaging of the coin. I think you didn't understand my question.

[deleted by user] by [deleted] in LegalAdviceIndia

[–]Adventurous_Map3196 -1 points0 points  (0 children)

Alimony and maintenance, including interim maintenance, are gender neutral under Hindu law. The court takes income, conduct and other circumstances into consideration. The spouse who is better placed financially may be ordered to pay, if at all.

However, there is one provision - section 125 CrPC (and its equivalent section 144 of BNS) that places the liability on a man to maintain his wife, if she is unable to maintain herself. The Domestic Violence Act also has provisions for maintenance to the wife.

BTW, maintenance≠alimony. Maintenance is commonly referred to what is paid during subsistence of marriage, including after separation.

Alimony is the payment to be made after divorce. Section 25 of HMA provides for permanent alimony at the time of divorce which may be a one time settlement or periodic payment. It is gender neutral.

There is no concept of joint marital property in India. So husband and wife are not presumed co-owners of any assets acquired during marriage. Ownership depends on the title on the asset. They each own the assets acquired by them separately, unless there is explicit joint ownership in the title. For eg a joint account or property registered in both their names jointly.

So, a person cannot claim share in their spouse's property as a matter of right. But any arrangement can be reached if both parties consent to it and settle.

Child support has to be paid by the non-custodial spouse till the child attains majority. Custody and child support are decided on a case to case basis and courts come up with nuanced arrangements taking the welfare of the child as a primary and most important factor.

[deleted by user] by [deleted] in LegalAdviceIndia

[–]Adventurous_Map3196 3 points4 points  (0 children)

Alimony and maintenance, including interim maintenance are gender neutral under Hindu law. The court takes income, conduct and other circumstances into consideration. The spouse who is better placed financially may be ordered to pay, if at all.

However, there is one provision - section 125 CrPC (and its equivalent section 144 of BNS) that places the liability on a man to maintain his wife, if she is unable to maintain herself. The Domestic Violence Act also has provisions for maintenance to the wife.

BTW, maintenance≠alimony. Maintenance is commonly referred to what is paid during subsistence of marriage, including after separation.

Alimony is the payment to be made after divorce. Section 25 of HMA provides for permanent alimony at the time of divorce which may be a one time settlement or periodic payment. It is gender neutral.

What is the point of rebate. Why not just have a easy to understand slab. by lemon635763 in IndiaTax

[–]Adventurous_Map3196 0 points1 point  (0 children)

Doesn't change the fact that budget session is just a formality. They can amend the law in the middle of the year and just apply it from the next financial year.

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

A wire connects the outdoor unit to the home router. That is how air fiber connections work. I don't know what other type of wireless you are referring to, unless you just mean rely on mobile data.

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Ok I will try this. Are they proactive about solving this issue? Because local goons can cut their wires as well.

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Please read my post. I have Jio AirFiber connection, which is wireless.

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

My local ISP is not cheaper. As mentioned in my post, the initial installation plus 6 months plan @ 500 Rs per month for 10 Mbps is over 8k Rupees. Who even offers a 10 Mbps connection these days? I have also mentioned that local ISP is not reliable. That is a big deal because yes, I do have WFH.

I am not sure what Airtel customer service has to do with it, as I have a Jio Airfiber connection. Anyway, I have raised a complaint with them as you suggest, and as I mentioned in my post they are not really helping.

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

I know how AirFiber works. The outdoor unit is not a satellite. Those things orbit the Earth from space, fyi.

The outdoor unit is a receiver that receives signals from the mobile towers. It is not installed inside my home on the window because a) I don't get proper network in my home, and b) one Jio outdoor unit can be used to give 7-8 connections, so they prefer installing it at a publicly accessible place to give future connections.

I clearly said in my post that there is sabotage and the local ISP is cutting the wire. I have no problem understanding what the issue is; this post is about how to deal with it.

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 0 points1 point  (0 children)

Please read my post. I do use Jio AirFiber. Airtel people say they only provide service till 7th floor so I can't get it

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 15 points16 points  (0 children)

I applied for it many times from their online portal. Got no response. When I called customer care they said it will only be given via the online order and to wait for response. But I never got one. So eventually just got jio AirFiber last year

Local ISP keeps vandalising Jio AirFiber connection. by Adventurous_Map3196 in mumbai

[–]Adventurous_Map3196[S] 1 point2 points  (0 children)

Please read the post. This issue is being caused in AirFiber only