January 2, 2016 Leave a comment
The one thing career politicians in India know is that income often comes in fits and starts and there is a need to provide for necessities and expenses in the meantime.
Here’s what a lot of them will do.
1.FDs in the name of every family member not qualifying to fall in the tax-net. That way some regular income for necessary expenses is always generated.
2.Land: Invest in land in appreciating location.Agricultural land purchased on any national highway at distance of 15 to 25 kms from the city centre of big cities have tended to double in 2-3 years and so make excellent main appreciating assets .Take up agriculture yourself or let out the land to other farmers for rent .So your income will be tax free and the underlying asset will appreciate as well. Regularly sell land on appreciation and move away further to grow capital. Urban land too works but community activities on it are not tax free. Read more of this post