Financial Year (FY) And Assessment Year (AY)

wealthymattersThe financial year is the period between 1 April and 31 March in which you earn an income. Assessment year is the following year in which this income is assessed and taxed.Income is earned in FY and taxes on that income is paid in AY.

Financial year (FY) in Hindi is called वित्तीय वर्ष and assessment year (AY) in Hindi is called निर्धारण वर्ष.

Both AY and FY begin on the 1st of April and end on the 31st of March.

Since income for any particular financial year is evaluated and taxed in the assessment year, income tax return forms have AY. Read more of this post


SmartOwner – Connecting Investors And Developers

wealthymattersThere is no getting around the fact that the real estate business requires cash. Though not always a whole lot of your own cash – other people’s money and borrowed money works just as well! What matters, ultimately, is the cost of capital and the terms and conditions on which the money is procured.

There is also no getting around the fact that in the last few decades real estate has made many Indians a great deal of money, often more than their lifetime savings, perhaps even  lifetime earnings. This wealth building effect of real estate has really seeped into the Indian psyche, so much so that these days you find builders in the Mumbai Metropolitan Area urging people to pay a small EMI and secure the future of the next seven generations of their family! So, these days, there is a large number of people hoping to get onto the real estate ladder, and an equally large number looking to invest their surplus cash in more real estate.

Read more of this post

The Turf War To Issue Currency


To be able to issue currency or determine what passes for money and on what terms, is the ability to impose your will on others and settle deals in your favour.So small wonder that governments, bankers, billionaires and would-be-billionaires see the benefit in fighting to issue money. Go back to history and you see kings have issued currency, bankers/ moneychangers/ money movers and central bankers have issued currencies and then again desperate societies have often come up with tokens for use amongst themselves…………The same old game is playing out again.

Following speech is a sample of a banker trying to ally with state power to squish private money issuers. Read the arguments,file them away for future reference. If you hear these arguments repeated in the media, know them for the propaganda they are. Are they all rubbish arguments? NO. But neither are they the whole story. And passively swallowing them doesn’t serve your best interests. Read more of this post

The Influence Of Wealthymatters On Instagram

If its an offering targeted at an affluent population or a luxury product, today Instagram is probably the marketing channel of choice for most brands and marketers. So what can wealthymatters do on Instagram ?

Quite a bit, I’d say. The pictures do their own talking.


Carlos Ghosn On His Life ,Identity And Globalization


The first I heard of Carlos Ghosn was a decade ago. My friend Damien was his head of automotive-train research and boy did he hero-worship the man! Even in those days, I was mostly put off by this man’s philosophy of life though I could hardly have articulated why. But a decade on, I can bluntly state our differences:

1.I’m of the ” work is a part of life” school not the “work-life balance” school. So with me, its find personally meaningful work, work that feels like play and indulge in doing something joyful everyday. Family and friends, according to their capacity and interests, are welcome to join me in my work.

2.I’m cosmopolitan, but at the same time deeply rooted in my primordial identities. I have no interest in changing my stand to pander to either Nationalists or Internationalists.

3.Family is central to my life. The only reason I’m bothered about wealth is for the good life it can secure for family and the larger community, in that order. Sacrificing family and social life to make more money is not a compromise I’m willing to make.

That said, its not to say that it not worthwhile reading what Carlos Ghosn has to say. He is right in saying that where we are born need not limit what we become. And for a person who shares more in common with Carlos, perhaps he is a good role model. Damien has an Algerian father, a French mother, a French citizenship and education and practices Kendo , a Japanese style sword-fighting. He identifies as French because as he says,he believes in French secularism. An approach I can’t really quite wrap my mind round, but obviously it works for some people! Read more of this post

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