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

Value Time

September 15, 2013 2 Comments

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Filed under Entrepreneurship, Theory Tagged with listen to your heart, listen to your inner voice, listen to your intuition, postaday, Steve Jobs, Steve Jobs Quote, time is limited

Saving Tax On Savings Bank Interest – Sec 80TTA

September 14, 2013 Leave a comment

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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

Flat Sizes

September 13, 2013 2 Comments

wealthymatters The picture above shows the average flat size in different countries across the world.

Here’s what’s happening to flat sizes in India:

Property developers have cut down on the size of residential apartments by about a third in Mumbai and Delhi over the past five years in a bid to contain prices and push sales in a tepid market. However,while smaller apartments appear to have become the norm Mumbai and Delhi, there is a varying rise in the median apartment sizes in other cities including Bangalore, Chennai, Pune, Hyderabad and Kolkata. Read more of this post

Filed under Alternative Assets Tagged with average flat size in Delhi, average flat size in Mumbai, average flat size world wide, flat sizes in India, flat sizes in Navi Mumbai, Flat sizes in NCR, flat sizes in Pune, flat sizes in Thane, postaday, residential property returns in Greater Mumbai, residential property returns in MMR

The South Delhi Property Market

September 13, 2013 Leave a comment

wealthymatters Prices of homes in upscale South Delhi have dropped by 20 per cent-35 per cent over the last one year, with developers and cash-strapped investors offering big discounts to dispose off their assets in a slowing economy.

Till about six months ago, discounts on new homes in the area were being offering only by developers facing oversupply. But with the economic situation worsening, this category of sellers has expanded to include cash-strapped investors and businessmen who are keen to sell the high-end apartments they had picked up some years ago.Some people over leveraged themselves by buying multiple properties when the going was good. Now with the market slowing down, they are looking at exiting but are unable to find buyers,They have no option but to reduce their price expectations, hence profits.

The situation offers an opportune time for bargain hunters looking for distress sales.Those, who are in businesses that are in perpetual demand, are the ones lapping up these properties at great discounts. Read more of this post