CaGalaxy

With the Due Date of ITR not extended, now all assessees who couldnt file ITR have to my default file their ITRs under New Regime, In case of Small Assessees with Salary range just above 5 Lakhs since there is No Deduction under New Regime, they will have to pay minimum Late Fees of Rs.5000, what a tragedy......and for Business people their one option of Switching will be over next year when they opt for Old Regime, after that if they couldnt file on time in the coming years.....they will permanently have to file in New Regime............this means the Government has simply hijacked their democratic right to opt for what they want....and robbed them from Deductions of House Property and other investments without thinking about how their portal worked.

Your Comments on these statistics?

"Am I better off overseas or should I have stayed back home?"
- by an Indian who migrated to the US for a living

We come to the USA with monetary and career goals. This process takes a minimum of 4-5 years, including completing a degree, OPT, securing a stable job, etc.

Then we fight to protect the life we have built. This involves dealing with the H1B visa process, the green card backlog, and other related challenges.

During this time, we often get married and have children.

The next decade is about stabilization and achieving a semblance of a normal life: fighting for a green card, buying a home, and building a network of friends.

Meanwhile, our parents in India keep getting older. Cousins get married at inconvenient times. "Hey, your marriage is in March? My kids will be in school, I can't make it." Grandparents pass away when we have H1B stamping issues and can't travel. Fathers have heart attacks while our companies are laying off employees at a fervent pace.

We miss some or all of these events. India doesn’t care. Life goes on for them. Nephews and nieces grow up not knowing us well. They probably know us as the "uncle and aunt who bring phones" every couple of years.

Our children lack the meaningful extended family we had. No grandparents, uncles, aunts, or cousins. We become their entire world. Your spouse often becomes your only friend in a foreign land. She, too, is as confused as you are. When you argue with her for two days, who can she talk to about it? There's no one to share with.

The friends network you built will soon be beset with jealousy and complaints. Soon, you realize people are not as innocent as they seem. Class and divisions start to appear based on who got a green card first, who bought a big house, who has a Tesla, who became a manager, who has a furnished basement, and so on.

You will be caught in existential questions. Will my son or daughter bring a girl/boyfriend home at age 16?

You will turn to culture and home. You will involve yourself in Regional(Telugu/Kannada/Tamil) Community, Indian associations, temples, volunteering, etc. You will change your political beliefs based on your situation. You either become a liberal, thinking all is fine, or you become a conservative, thinking I should resist all this.

You go to India and find that you don't belong there. All your relatives have changed. You have changed. Uncles and aunts have died. Nephews and nieces are unrecognizable. The streets and city that you grew up in are unrecognizable.

You come back and slip into your known world, keeping on working, never knowing the answer to the question: "Am I better off here or should I have stayed back home?"

The answer to this question remains unknown.

Indian Economy April 2024:-

Highest Auto sales
Highest Eway bills
Economy growth at 8.4%
Service PMI at 13 yr High
Highest Power Consumption
Highest GST ₹2,10,095 Cr
Highest Monthly Home Sales
Sensex at an all-time high
Lowest Bank NPA in a decade
Manufacturing PMI at 16 yr high
Core inflation at Lowest in 12 yrs
Highest UPI tranx at 18.4 Billion

Stock Market Euphoria:
Earlier, government used to struggle, to convince the markets that economy is doing fine.
Now, markets are convincing the government that the economy is doing fine.