February 15, 2014 Leave a comment
For Whom Wealth Matters
There are MBAs and MBA’s and most applicants don’t look beyond CAT scores,fees and location before picking an institute.A more mature way of looking at things would be to get some work experience and figure out what sort of work you like,in which industry,what you can do well,whether you really need an MBA to do well and get ahead,if so what sort specialization you would like etc, and then plan on the simplest way to get into the course of your choice.
Following is a list of the best local institutes for preparing for different corporate roles:
Strategy: IIM Ahmedabad
Sales and Marketing: ISB Hyderabad and Mohali,IIMs,IIFT,FMS,MDI Read more of this post
My purpose in writing this blog is to compile useful information in one place,so that readers can help themselves.
Recently,I have noticed a spate of personal queries from people who don’t seem to have taken the trouble to read my posts,much less the previous queries or my replies to them or do a simple search using the search box at the top of the blog.I find that answering these personal queries takes up a good amount of my free time.So,I have decided to make some services charged.
Henceforth,to answer personal queries of an esoteric nature will cost readers Rs 100/$2 per query and property related queries will cost Rs 500/$10.Payments are to be made in advance to my paypal account email@example.com
However,in case of genuine distress I am quite willing to overlook payments.Also,all currently pending queries will be done for free.
The Duchess Of Cambridge is wearing the famous Nizam Of Hyderabad necklace
The Nizam of Hyderabad necklace was created by Cartier in the 1930s. It consists of a long chain of 38 diamonds (reduced from the original 46) with a diamond-encrusted snap. The centre of the necklace is pave-set with a detachable double-drop pendant of 13 emerald-cut diamonds and a pear-shaped drop.The original necklace consisted of eight double-drop and three triple-drop pendants. However, nine of the pendants (all eight double-drop and the larger of the triple-drop pendants) were later removed and sold separately.
The Nizam of Hyderabad was once the owner of one of the most celebrated and largest private jewellery collections in the world.When queen Elizabeth got married in 1947,the Nizam was not in London,but he left Cartier instructions that the she would personally choose her present.A demi-parure of a tiara and this necklace was the Queen’s own choice.
The Queen has worn the Nizam of Hyderabad necklace through her life, although more often in her youth. This is also one of her favourite necklaces to don when she is posing for portraits.
When printing presses started making currency notes, there was trouble. It was too easy to be irresponsible, and print too much “fiat money”.Every currency needs a “nominal anchor”: something that pins fiat money down to reality. There are exactly three choices for this nominal anchor: gold, a foreign currency like the dollar, or the consumer price index (CPI) basket of goods.
The gold standard — where the US dollar was pegged to 35 ounces of gold — fell apart in 1973. Since then, the world has been looking for a new nominal anchor. Pegging to a foreign currency works well in some places, e.g., for Hong Kong. But pegging the Indian rupee to the US dollar is not a viable option, as this is tantamount to handing over the Indian monetary policy to the US Federal Reserve. This is inappropriate as the Indian business cycle is quite different from the US’. Read more of this post
This link takes you to available jobs in India.
If you have been reading my blog for a while you have probably come across the term the Cash Flow Quadrant,else just use the search box at the top of the blog to catch up.If you wish to become wealthy,it helps to have multiple incomes,especially business incomes,to fund investments that put out passive incomes.
The general idea is that our time,energy and attention spans are limited.So instead of working at a job to earn money,it is better to build little money making machines,ie sources of largely passive income,so that we can manage to make money and accumulate wealth without much daily effort.Hence my focus on entrepreneurship and investing in this blog.Even if you are employed full-time,do acquire a part-time business to increase your income and as insurance against the perils of job loss.
So if we are all to be entrepreneurs,ie self-employed or better still employers of other employees why this post on looking for a job? Read more of this post
February 11, 2014 Leave a comment
The entire amount donated by an individual to a recognized political party is allowed as deduction under Section 80GGC of the Income-Tax Act while computing gross total income.
The donation should be made to a political party registered under Section 29A of the Representation of the People Act to avail of this deduction.
With effect from FY14, cash donations to political parties don’t qualify for tax reliefs. So take care to make the payment through banking channels — cheques, demand drafts, credit or debit cards and internet banking — if you are planning to claim tax deductions.
This exemption is part of Chapter VI-A deductions. And under the law, the total deductions under Chapter VI-A cannot exceed the gross income. Other benefits under Chapter VI-A deductions include tax-saving investments under Section 80C, health insurance premium under Section 80D and interest on education loan under Section 80E, among others. These can be claimed against your income from salary and house, but not all sources of income. The Chapter VI-A deductions cannot be claimed against incomes taxed at special rates, such as long-term capital gains, short-term capital gains which are taxed at 15% under Section 111A and winning lotteries or games, which are taxed at a flat rate of 30%.
Also, most employers usually don’t factor in such donations in employees’ investment declarations and Form 16. So, while your tax-saving investments under Section 80C are taken into account to calculate your tax , exemptions related to donations don’t receive a similar treatment.Employees have to claim a refund at the time of filing their income tax returns.
February 10, 2014 Leave a comment
How do the Hindujas transfer wealth down the generations?
The NRI Hinduja brothers-Srichand, Gopichand(both based in London), Prakash (who operates from Geneva) and Ashok (who lives in Mumbai) have set up a trust that owns the group’s assets.
So,if a young Hinduja spots, say, a cool car that costs a bit, the trust will buy it for him/her. Same for, say, a plush apartment. The trust will get you stuff, but no one will really individually own the assets. Enjoy – don’t fight — seems to be the message from the Hinduja seniors.