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Showing posts from 2018

How India developed Britain in colonial era

New research by the renowned economist Utsa Patnaik - just published by Columbia University Press - deals a crushing blow to popular belief that India benefited from Britain. Drawing on nearly two centuries of detailed data on tax and trade, Patnaik calculated that Britain drained a total of nearly $45 trillion from India during the period 1765 to 1938. Thus Britain was developed by wealth from India.
It's a staggering sum. For perspective, $45 trillion is 17 times more than the total annual gross domestic product of the United Kingdom today.
It happened through the trade system. Prior to the colonial period, Britain bought goods like textiles and rice from Indian producers and paid for them in the normal way - mostly with silver - as they did with any other country. But something changed in 1765, shortly after the East India Company took control of the subcontinent and established a monopoly over Indian trade.
Here's how it worked. The East India Company began collecting taxes i…

Safe driving - avoid accident tips

First rule. Always wear a helmet. Also make sure that the helmet fits snugly and is strapped on securely. 2 Even the biggest bikes are the smallest vehicles on the road. Try and improve your chances of being seen by other vehicles. Wear bright-coloured clothes, or a bright helmet. Use reflective stripes on your helmet to increase your visibility. Another good practice is to keep your headlights switched on, even in daylight. 3 Ensure your brake lights and tail-lights are working. This could save your life on a dark night. 4 Get to know your bike intimately. When riding a new or unfamiliar bike, take it easy for a few hundred kilometres. Approach its limit slowly and back off one step when you find the limit. Always ride within your limits, and the bike's limit. 5 Your mirrors only say 'NO'. That is, if you see a problem with your mirrors, they are telling you not to move into that problem. If they do not show any problem, that is not the same thing as saying 'Yes, make you…

Problems and solutions for filling of the for Voter enrollment online application (Form 6) on National Voter's Service Portal

Problems faced during filling of the online application form ( form 6) on National Voter's Service Portal website, and how to solve them  :

If you fill data and click submit, you can get error that some data is not filled properly. Along with the data you have missed, some extra data gets disturbed and is not easily corrected again. For that, the simple method is to load the form again and fill the details again. Short method to fix the problems is given below : 1. If the district name or constituency field (name drop) is not opening to show the list of required data, change the state to some other state (in the drop down field for state ) and then change again to the correct state. When you do like this, the field for district name or constituency name will start displaying the list. For example, if I want to select my city 'Lucknow' but the field is not showing the list of districts, I will change the state name in the state field. I will change 'Uttar Prad…

3 Sure shot tips to stop sleepiness / drowsiness after Lunch and improve health too !!


Limit the carbohydrate portions in your lunch. The refined grains in processed foods get digested quickly that results in blood sugar spike and dip contributing to low energy levels. Choose to eat more energizing meals that includes more iron (leafy green veggies), lean proteins (lean meat, fish and eggs) and complexed carbohydrates (whole grains and legumes).

Eating a smaller lunch with snacks in the morning and afternoon will keep your blood sugar levels balanced throughout the day.

Try not to consume more and more sugar and fats present in processed foods in order to avoid energy crash.


Physical activity improves blood flow, providing oxygen and nutrients to muscle tissue and naturally
increasing energy. Carl Bazil, MD, PhD, director of the Division of Epilepsy and Sleep at Columbia University, recommends exercising before afternoon drowsiness kicks in—stretch, take the stairs instead of the elevator, walk around your building.

Simply getting away from your desk can re-energize.

Expenses of a Mutual fund can severely impact returns

Funds can also charge for the service tax on their management fee. Hence, an equity fund with a corpus up to ₹100 crore may end up charging upto 3.3 per cent if you add different charges !!

What is it?Mutual funds are professionally managed investment vehicles which help investors to grow their money by investing in financial assets such as equities, bonds, gold and other assets. Mutual fund companies charge a cost to their investors for managing their schemes. This cost is called the Total Expense Ratio.
What is it?Mutual funds are professionally managed investment vehicles which help investors to grow their money by investing in financial assets such as equities, bonds, gold and other assets. Mutual fund companies charge a cost to their investors for managing their schemes. This cost is called the Total Expense Ratio.

Why is it important?

While mutual funds in the developed world charge a variety of fees and costs to investors, in India, almost all the costs are packed into the single m…

Mutual funds more transparent and accountable after new SEBI recategorization

Going forward, mergers will become difficult for the funds. Also performance will be more easy to understand. Equity Sectoral funds (specific to a sector) are not expected to be much affected by mergers as was earlier. All this is good for the investor.

Chart in this blog post is taken from:

From Livemint:

This article has a good chart too. Go to the link after this section.

If your scheme undergoes a big change, evaluate. For instance, SBI Treasury Advantage Fund, which will be known as SBI Banking and PSU Fund, was meant for short-term investments. Now, its strategy would be to invest in debt scrips of state-owned companies and banks. "If the risk profile of a scheme changes, look at it again. If it no longer meets your purpose, leave it," said Vidya Bala, head-mutual fund research,

Don't blindly go by the change in your fund category. Mirae Asset Emerging Bluechip Fund (MEB…

Important tips for air travel

Pre printing boarding cards before coming to the airport carry the risk of confusion if the boarding gate changes.
If you need to fold your boarding card to keep in pocket, avoid fold coming in the area with the bar code as it will be scanned.
If you are getting late, you can request the incharge to get a speedy security check skipping the queue.
Keep your boarding card in your pocket - helps you return to your seat after you visit the washroom.
Preserve the baggage sticker on the boarding card till you get all the pieces of  check-in luggage after the flight . The sticker has the codes same as the stickers as on your luggage pieces.
Power banks are allowed in cabin baggage not in checking baggage . 

PPF, NPS, how to divide for best tax savings , performance of NPS funds

Valid as of Sep 2017:
EPF, PPF, and a host of other deductions available are all part of 80C, which has an overall limit of 1.5 lac per year. If you have already put in 1.5 lac in PPF, the EPF that is deducted by your employer is giving you no agvantage from tax saving point of view.If you want to invest additional amount and get tax exemption, there is another way I can suggest. NPS (National Pension Scheme) has an exclusive deduction of 50K a year outside of the 80C 1.5 lac limit. So here's what you can do. Assuming EPF is 50K a year, put only 1 lac in PPF, put the rest 50K in NPS.
Having said this, don't do investments just to save tax. If your financial position allows you to, then put in as much as you can, not just what is necessary to save tax.Various NPS performance over the years :

Highlights from Warren Buffett's annual letter to Berkshire Hathaway shareholders

Warren Buffett's highly anticipated annual letter toBerkshire Hathawayshareholders released on Saturday did not disappoint this year with a little something for all fans of the Oracle of Omaha, from professional value investors to the casual admirers of his wit and wisdom.Most newsworthy in this year's edition, the 87-year old billionairepointed out that Berkshire Hathaway now has a $116 billion war chestto spend on a deal, but that prices were too high for him to spend any of it in a big way last year.Buffettwent on to give avaluable investing lessonthat involved quoting a Rudyard Kipling poem from the 1800s. There are plenty of quips in the letter, including a joke likening a CEO's penchant for dealmaking to the sex drive of teenagers. Here are the highlights below: The tax cut:"Berkshire's gain in net worth during 2017 was $65.3 billion, which increased the per-share book value of both our Class A and Class B stock by 23%...A large portion of our gain did not com…

I’m not going to ask you to save #Ghouta, Syria, but to save your humanity

An extremely difficult read but please, please take a few minutes to read what doctor Housam Adnan from #EasternGhouta wrote yesterday:From the womb of the dead
For more than twenty years, the scalpel was my companion
Dancing between my fingers, while I do my work very quietly
At the end of each day I whisper to it:
You did very well, and we saved many together
But everything changed now
The scalpel wasn't what it used to be, lately
My fingers can't handle it anymore
As if a part of my soul was taken into its teeth, and it can't bear the wounds it witnesses anymore
Children without parts
Without eyes
Without faces
Women and families covered by sheets full of soil from the home land, with more of her children's blood
The smell of gunpowder and its abhorred black color hangs over those hungry, withered faces
The screams of children, the wailing of women, the oppression of men, the impotence of doctors, reached my dead scalpel, creating a spirit of the miser…

If Landlord Not Giving PAN. How To Claim HRA Tax Benefits in India ( updated 2018)

If the annual rent paid by the employee exceedsRs.1 lakh per annum, it is mandatory for the employee to report PAN of the landlord to the employer. The tax law also says that in case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address should be filed by the employee. Can you claim HRA (house rent allowance) if the landlord is not providing you his/her PAN?  

Tax experts say that an employee can still claim tax benefits under HRA in his or her tax return. 
Even if the employer does not allow HRA exemption to the employee - due to non-availability of PAN or declaration by the landlord for not having PAN, the employee still has the option to claim it at the time of filing the income tax return, says Sandeep Sehgal, director of tax and regulatory at Ashok Maheshwary & Associates LLP. "Once a person is to file his/her income tax return, there is no requirement to furnish the PAN of landlord," he adds.

Ref: https://www.…