Finance Buddy

A historic surge in central bank gold buying —over 316,000 kg in the past year—may be less about profit and more a global red alert, warns Sujit Bangar, founder of taxbuddy.com. In a widely shared LinkedIn post, Bangar calls the 63% jump in gold prices not a rally, but a warning: global financial trust is cracking. “This isn’t a mere rally. It’s a warning signal,” Bangar wrote, pointing to an unprecedented pace of gold accumulation that echoes past crisis markers like the 2008 financial collapse and COVID-19. Traditionally, investors turn to the U.S. dollar and Treasuries during volatility. But Bangar argues the game has shifted. “Fear no longer means dollar safety—it means buying gold,” he said, noting the dollar’s steepest six-month fall in 50 years and rising fears over fiat currencies. At the heart of this shift is what he calls “The Debasement Trade”—a flight from assets backed by governments to those free from counterparty risk. “Gold doesn’t default. It doesn’t print. It doesn...

Nearly a decade ago, at the peak of his advertising popularity, Indian men's team cricketing legend   Sachin Tendulkar   used Section 80RR to save   ₹ 58 lakh in taxes on income earned from abroad. More recently, TaxBuddy founder Sujit Bangar took to the social media platform X (formerly Twitter) to explain how the Master Blaster's tax strategy worked. Bangar, in multiple posts, explained how Sachin Tendulkar was able to claim the   tax deduction   by separating his income into earnings from two professions. What Happened? As per multiple media reports, in tax filings for AY2001–02 and AY2004–05, Sachin Tendulkar claimed a 30%   deduction   under Section 80RR on   ₹ 5.92 crore of earnings from abroad, and defended against a tax demand from the authorities on the same. As per Bangar, the cricketing legend earned  foreign income  of around  ₹ 5.92 crore (in forex) for which he claimed a 30% tax deduction under Section 80RR, which amo...

A fascinating chapter from Sachin Tendulkar’s financial playbook, one where the cricket legend turned “actor” to save Rs 58 lakh in income tax , could be an example for many professionals and freelancers in the creative fields. In a recent post on X (formerly Twitter), Sujit Bangar, founder of Taxbuddy.com, narrated how the iconic cricketer saved lakhs in taxes with a smart trick. “Sachin Tendulkar wasn’t a ‘cricketer.’ He claimed he was an actor, to save Rs 58 lakh in taxes,” Bangar wrote. According to Bangar, the issue dates back to the financial year 2002-03, when Tendulkar earned Rs 5.92 crore in foreign income from endorsements for brands like Pepsi, Visa and ESPN. Instead of declaring this under his income as a cricketer, Tendulkar classified the earnings as part of his “actor” profession and claimed a 30% deduction under Section 80RR of the Income Tax Act, 1961. Section 80RR is meant for authors, playwrights, artists (actors, musicians and sportsmen) and other performe...

Gold price surge: Investors are moving from dollars and US Treasuries to buying gold as the US dollar has recently seen its biggest six-month fall in 50 years, a trend Bangar says investors call the "Debasement Trade". (Image: X) Reserve Bank ’s gold reserves have crossed 880 metric tonnes, with total value of USD 95 billion as of September 26, 2025. It’s not just India central banks across the world added 3,16,000 kg of gold over the past year, while  gold prices  surged 63%. The central bank’s bulletin has highlighted that rise in international gold prices, driven by heightened global economic and geopolitical uncertainty encouraged safe haven buying. Sujit Bangar, founder of Tax Buddy, has warned that this trend is a warning signal – ‘A red alert that the global order may be fracturing at its core.’ Here are the 9 Warning Signs: Rapid Gold Surge:  Bangar notes that Gold has always risen during crises like the 2008 financial crash, COVID-19, and trade wars, but the cu...

‘ Small Biz, Big Policy’ is a semi-weekly explainer on the latest and most impactful policies shaping India’s MSMEs. If you’re a trailblazing MSME navigating changes or turning challenges into growth, register for the ET MSME Awards 2025 before Oct 15, 2025 . India's small pharmaceutical manufacturers have powered the country's medicine supply for decades. These units scattered across Gujarat, Maharashtra, and Telangana have made everything from antibiotic capsules to cough syrups affordable at home and competitive abroad. Now they're staring down their toughest challenge yet: mandatory bio-equivalence studies that could cost more than their annual profits. The regulatory countdown Starting January 1, 2026, updated Schedule-M norms under the Drugs and Cosmetics Act will require bio-equivalence (BA/BE) testing for every drug formulation. The Drug Marketing and Manufacturing Association has raised red flags, with over 30 trade associations writing to Health Minister JP Nadda...

More than 7.6 crore income-tax returns (ITRs) had been filed by September 25. According to the I-T department website, of these, 6.98 crore returns have been verified and 5.35 crore processed, leaving nearly 1.63 crore returns pending, which means refunds in these cases are yet to be issued. For many taxpayers, especially those expecting big refunds, the delay can feel long. What causes the delay? What are checks involved and what should taxpayers do if they don’t get refund in time? According to Sujit Bangar, founder, Taxbuddy.com, many people assume refunds would be credited immediately but that’s not how the law works. “There is actually no delay in processing refunds, whether large or small. The income-tax department follows the timelines prescribed under Section 143(1) of the income-tax act, which allows up to nine months from the end of the financial year in which the return is filed to process it. Many taxpayers are not aware of this provision and expect refunds immediatel...