Tool Kit | wealthymatters

How To Network With Millionaires?

September 15, 2013 2 Comments

wealthymatters Contacting people you wish to get to know and convincing them to help you is an essential skill for entrepreneurs.19 year old Vincent Nguyen has demonstarted this skill to a remarkable degree.The following is a summary of his insights from contacting entrepreneurs,way more successful than him,asking them for a favour and achieving his goal: You can read the full story here:Link

1. Rejection doesn’t take anything from you

So what do you have to lose?

2. People are more willing to help you than you think

So just give them a chance to do so.

3. When you’re genuine, people will want to help you

So be honest and be yourself. Read more of this post

Filed under Entrepreneurship, Tool Kit Tagged with act, be creative, be genuine, cold calling, dealing with rejection, facing rejection, networking, postaday, regret, Vincent Nguyen

Saving Tax On Savings Bank Interest – Sec 80TTA

September 14, 2013 Leave a comment

wealthymatters.com

By the Finance Act, 2012, a new section called 80TTA was added to the Income Tax Act – 1961. This section allows an income tax deduction of up to Rs 10,000 to an individual or a HUF for interest earned on the savings bank account held with a Bank, Post Office or a Society.This section is applicable with effect from April 01, 2013 and will apply from AY 2013-14 onwards.

If the interest earned out of saving bank account is more than Rs 10,000 . You will have to pay tax on the remaining amount over and above Rs 10,000 .This tax deduction is over and above Rs 1 lac deduction under Sec 80C.

Rs 10,000 is the total deduction allowed by combining all the saving bank accounts interest. If you earn Rs 6,000 from each of 3 different accounts (Total Rs 18,000) , you will get deduction of Rs 10,000 and pay tax on remaining Rs 8,000.

So you can keep upto 2.5 lacs as balance in a savings bank offering 4% or 1.4 lacs in a bank offering 7% and enjoy nil tax-liability.

Filed under Paper Assets, Tool Kit Tagged with income tax deduction, maximum balance in a savings bank account, postaday, section 80TTA of the Income Tax Act – 1961, tax deduction on interest from savings bank account, tax free income from savings bank

How To Save On Fuel Bills

September 12, 2013 Leave a comment

Wealthymatters

Petrol prices in Mumbai have moved to 81.57 from 69.83 a litre since May 1, a rise of 17% in the past four months, raising monthly fuel bills.

With crude prices continuing to remain high and the rupee depreciating sharply against the US dollar, petrol prices are likely to remain high in the near future,and spike in case of further uncertainty in the Gulf. Car drivers by changing driving habits and maintaining their cars well can bring down the monthly fuel bill by as much as 10-20%.

Driving habits play a major role in saving fuel. It is possible to drive the same distance in the same time and yet save on fuel provided you drive smoothly. Many of us tend to accelerate very fast even though we know there is a signal 100 metres ahead, brake suddenly or drive at a high speed on a much lower gear than we are supposed to. All these actions put pressure on the engine, which tends to guzzle more fuel in the process. If you change these habits alone, you could save as much as 10% in fuel costs. Read more of this post

Filed under Theory, Tool Kit Tagged with adjust gears properly, check wheel alignment, crude prices, drive smoothly, filter check, oil change, petrol price rise, postaday, save fuel, save petrol, saving money, servicing your car, switch off the engine at signals

The Surest Way Into The IIMs

September 12, 2013 Leave a comment

The surest way of improving you chances of securing an IIM seat is to take up engineering in college.Your math skills are then likely to help you crack the CAT.The stats are below:

Filed under Tool Kit Tagged with crack the CAT, how to get an IIM seat, postaday

Where Are The New Properties In Mumbai?

September 12, 2013 Leave a comment

wealthymatters In Mumbai there were around 18,000 units launched in the first half of the year till June, representing an increase of 30% over last year.

Of the total new launches, a majority of 30% were concentrated in the western suburbs of Andheri, Bandra, Malad and Goregaon. Navi Mumbai contributed 24% to the overall launches with the second phase of a large township project launched in Panvel.

The central suburban stretch from Kurla to Mulund contributed 20% to the new launches with two large projects coming up in Mulund along with projects in Chembur, Kanjurmarg and Ghatkopar.

In Thane, where a number of projects are currently under construction, the pace of new projects has slowed down in 2013.