Tool Kit | wealthymatters

Sauce For The Goose Isn’t Sauce For The Gander

June 4, 2014 Leave a comment

wealthymatters Obviously we all agree that money now is better than the same money later.Hence,the practice of using discount rates.The government has an interesting take on discount rates.

There are various provisions in the Income Tax Act for charging of interest if a taxpayer fails to pay tax on time. Similarly, there are provisions for giving interest on a refund to taxpayers.

When a taxpayer defaults in making payment of tax, interest or penalty, he has to pay interest @ 12% p.a., (in some cases even @18% p.a.), In contrast, I-T the department pays interest only at 6% p.a. on refunds issued. The rate remains 6% even if the department delays the refund. Moreover, if there is default in paying tax, in addition to interest, the tax payer is further liable for penalty u/s 221 @ 12%. However, there is no corresponding liability on the department if it defaults in issuing refund in time to the taxpayer. Read more of this post

Filed under Tool Kit Tagged with delayed income tax refund, delays in income tax refund, discount rate, income tax refund, postaday

Real Estate Investment Destinations Of Gulfies

May 30, 2014 Leave a comment

wealthymatters According to Sunil Jaiwal, CEO of Sumansa Exhibitions, the organisers of the Indian Property Show in Dubai,Mumbai is the top investment destination for UAE-based non-resident Indians (NRIs),Bangalore is second. Chennai and Pune are jointly in the third position with an almost equal percentage of people preferring these cities.Delhi comes at the fourth place, followed by Cochin, Navi Mumbai, Gurgaon and Hyderabad.

Filed under Alternative Assets, Tool Kit Tagged with Indian cities where Gulf NRIs invest, Indian Property Show in Dubai, postaday, Sumansa Exhibitions

Management Lessons From The Mahabaratha

May 30, 2014 Leave a comment

wealthymatters 1 Seize Every Opportunity : Look out for opportunities out side your scope of work. Never hassle yourself too much with the motive of defeating your competitor. Rather, invest all energies on a bigger goal to add strength and power to your business.

wealthymatters 2.Win Allies: Five brothers won against a hundred.How do you think the Pandavas did that? The relationships they established over the years paid off. You may be busy focusing on your own growth at the present, but you must start reaching out to more people and making allies. They will push you forward when the time comes. Read more of this post

Filed under Entrepreneurship, Tool Kit Tagged with management lessons from the Mahabharata, postaday

They Can’t Both Be Right

May 30, 2014 2 Comments

Stock markets have been touching new highs over past six months on improved sentiment, but macro concerns have kept bond yields high.Historically, cheap money, or low interest rates, has been a pre-condition for a bull run in equities. Given that interest rates in India are at multi-year highs, the question is who is right -the bond investor or the equity investor?

The story of the last six months in these two markets has been different. The benchmark Sensex has rallied over 20%, but the bond yields have continued to remain high above 8.6% in the period, suggesting the equity rally is purely driven by sentiment, and not by economic fundamentals. At the beginning of the 2004-2007 bull run, the 10-year government bond yields were at 5.28%, which increased to 7.8% towards end 2007 (the Sensex rose from 4800 to 20000 during the period). The bond yield fell to 5.26% in December 2008 as the Reserve Bank of India joined global central banks in lowering interest rates to prevent a worldwide collapse of economies after Lehman Brothers went bankrupt. That formed the base for another rally from 2009 to 2011; the Sensex rose from 8600 to 20500 in the period.The benchmark bond yields are now at 8.69%, close to a five-year high. Read more of this post

Filed under Paper Assets, Tool Kit Tagged with bond investors, equity investors, historic corelation between bond rates and SENSEX values, postaday

The Arowana Fish

May 29, 2014 Leave a comment

wealthymatters In Chinese, the Arowana is called Kam Lung Yue which means Golden Dragon Fish. It has large shiny scales that resembles the powerful and mythical dragon. It is known as the ‘fish of the rich and famous’ because live Arowanas are extremely expensive,especially the older ones.This fish can grow up to 3-4 feet long (120cm) and it can live at least 25 years.

In Feng Shui,the Arowanas are a symbol of supremacy, prosperity, wealth, strength, good luck, happiness and power. It is believed that this fish helps drive away evil spirits and bad luck.Hence this fish is a potent energizer of wealth and an auspicious Feng Shui symbol to keep for those looking to increase their wealth , multiply their sources of income or opportunities to make money.

It is believed that the most auspicious areas to keep the Arowana fishes or alternatively their pictures or idols are the north, east, southeast and southwest. Displaying this symbol in the North sector of the house, office desk etc. is supposed to give a boost to the career. Displaying it in the Southeast corner of the home or in the office reception counter is believed to help energize your wealth luck. It can also be placed in the corner diagonal to the front door. Keeping the symbol in East improves the family well being.