Founder & CEO of Zerodha, Nithin Kamath has said that it was an honour to meet PM Narendra Modi. The Zerodha founder says his new health and fitness goal is to be able to operate at PM Modi’s intensity when he is 72.
Nithin Kamath said PM Modi spent almost 30 mins late in the night interacting with him and Zerodha Co-Founder Nikhil Kamath, despite all his meetings and travels through the day.
Earlier, Nithin Kamath had tweeted, “For retail investors, I guess the only material change in the budget is for people who invest in international stocks. Money sent out using LRS now has a Tax Collection at Source (TCS) of 20% with no upper or lower threshold, compared to 5% over Rs 7lks earlier.”
“TCS can be claimed after filing income tax returns at the end of the year, but it’s unlikely that many will be okay with having 20% of capital blocked until then. This will adversely affect all platforms offering international stocks and international crypto exchanges,” he added in another tweet.
“It doesn’t affect us at @zerodhaonline
, since we didn’t offer international stock investing due to the uncertainty around regulations & high remittance costs. There was also the question of scale, given that Govt ideally wouldn’t want money moving abroad.”
