¡®Biceps dikhane ka tareeka¡¡¯: Nikhil Kamath's budget day pic hilariously misses the mark
Nikhil Kamath expressed his thoughts on the Union Budget 2024, though it was his physical appearance that drew a lot of interest.
In a recent update on social media, co-founder of Zerodha Nikhil Kamath expressed his thoughts on the Union Budget 2024, though it was his physical appearance that drew a lot of interest. The 37-year-old shared a photo of himself in a grey sleeveless T-shirt, looking slightly puzzled. Kamath added a caption to the picture, "Budget day."
'Biceps dikhane ka tareeka thoda casual hai'
Despite his intention to spark a discussion on the budget, the focus quickly shifted to his impressive biceps. Comments poured in, with one user noting, ¡°Biceps dikhane ka tareeka thoda casual hai (His way of showing off his biceps is a bit casual).¡± Another commenter remarked, ¡°He is smart and hot??¡± A third added, ¡°Excuse me, why are you so hot?¡± Some even compared him to actor Tusshar Kapoor, while others expressed surprise at his muscular build, saying, ¡°Didn¡¯t know Nikhil was lowkey jacked.¡±
What his brother Nithin Kamath said about Budget 2024
Nikhil Kamath's older brother, Nithin Kamath, also expressed his opinions on the Union Budget delivered by Finance Minister Nirmala Sitharaman.
Nithin Kamath shared his thoughts on the updates made to the securities transaction tax (STT) and the long-term capital gains tax, expressing that these adjustments could possibly lead to a decrease in market transactions if this was the desired outcome.
The Kamath brothers are recognised for their passion for fitness, often posting about their exercise regimens and eating habits online. Nithin Kamath also responded to the financial plan on a platform that was previously called X.
Budget summary for us
¡ª Nithin Kamath (@Nithin0dha) July 23, 2024
STT on options goes up from 0.062% to 0.1%. STT on futures goes up from 0.0125% to 0.02% from October 1st.
We collected about Rs 1500 crores of STT last year, @zerodhaonline. If the volumes don't drop, this will increase to about Rs 2500 crores at the new¡
After Sitharaman announced the Finance Minister's budget, Nithin Kamath revealed that Zerodha gathered ?1500 crore in Stock Trading Tax (STT) revenue in the previous year. He estimated that the sum could exceed ?2500 crore, provided trading activities stay constant, with the introduction of revised rates.
The budget for 2024 has raised the STT rates for Futures and Options (F&O) to 0.02 per cent and 0.1 per cent, respectively. Additionally, the earnings from buying back stocks will now be subject to taxation for the stockholders.
Also Read: Taxing times ahead? Here are key tax changes introduced in the 2024-25 Union Budget
Nithin Kamath further explained, ¡°The capital gains tax has been increased from 10 per cent to 12.5 per cent, and it will apply from today. If the idea was to cool down the activity in the markets, this might just do the trick.¡±
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