Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would erase effective returns. Where spreads are thin and final yield is generated through higher leverage, the tax can result in negative return.
Warren Buffett sounds alarm as stock market warning returns for only second time in 155 years
Warren Buffett’s caution comes as the S&P 500’s CAPE ratio approaches levels seen only during periods of extreme valuations. While elevated readings can signal weaker
September 19, 2026