Sunday, 30 July 2017

A Comment on Withdrawing of the higher value 2000 Rupee Notes

My Comment on an article "There are signs of another currency ban coming" published in the economictimes.com Dated 26/07/2017.


"If they are banning the "Two thousand Rupee" currency note in the coming days, it can be a great achievement. This will be a good step towards controlling the black money formation and speculative transactions in cash. 

Even for the simple reason of curtailing the bigger cash transactions which are being done even now. I recommended it from the beginning itself to not bring these higher value notes of Rs2000 or Rs1000 in the market." 

A Comment on the ouster of Nawaz Sharif from Pakistan PM post

My Comment on a news item "Here's how Pakistan PM Nawaz Sharif's ouster will impact India"  published in the economictimes.com Dated 28/07/2017.

"It doesn't matter much in my view. The military always remained the commanding power in Pakistan which directs the government. So, nothing worse may happen. It will remain the same to India.

Some are of the hope that if his brother is appointed as the next PM, the things may change. But, not hopeful of any solution."

Friday, 14 July 2017

A Comment on Present Offers of Jio mobile Data and Voice plans.

My Comment on an article "Reliance Jio Raises Rates......." published in the economictimes.com Dated 11/07/2017.


"So, one needs to recharge for Rs.399 to get the 84 days validity with 1 GB per day for 28 days in a month under the prepaid or post paid plans.

The previous offer prices of Rs309 and Rs349 have been restricted to only 56 days validity period."

You can view the full details of it at this Link.

Monday, 10 July 2017

A Comment regarding revision of HRA as per 7th pay commission

My Comment on a news article titled "Seventh Pay Commission notified: Minimum HRA fixed for different city categories" published in the economictimes.com Dated 07/07/2017.


The HRA suggested may not meet at least 50% of the actual rent being paid by the employees. So, it is a gross injustice.

The minimum HRA limit fixed by the government for Metro, A Class and B class cities are respectively Rs.5,400, Rs.3,600 and Rs.2,400 per month whereas the actual minimum rent incurred by the employees can be at least Rs.10,000 in metro cities and Rs.5,000 or more in cities. So, it amounts to roughly 50% only that they will be getting as HRA.

Sunday, 18 June 2017

A Comment on the need to submit 37 Returns of GST in a year

My Comment on an article "37 Returns instead of 13: One of the many challenges threatening GST rollout" published in the economictimes.com Dated 10/06/2017.



"The title of this article can drive away people from accepting GST. 

The author mentions that you need to submit 37 Returns of GST in a year. 

But, once you go through the details, you will come to know that only 3 Returns need to be submitted each month and one consolidated Return at the year end thus making the total to 37 returns in a year. 

This is not such a difficult job for any Accountant or Organisation. So, one should not worry at the figure of 37 Returns per year."

Thursday, 1 June 2017

Cigarette smoking not only kills but also bankrupts you

My Comment on an article "5 Cigarettes a day would cost you Rs 1 crore by the age 60" published in the economictimes.com Dated 31/05/2017 on the occasion of World NoTobacco Day.


"A good article that tries to create awareness among people. But, many of them do not simply want to accept it. They do not even try to quit smoking. 

Very hard to change the mentality of people once they become addicted to any bad habit. Such a person can only change on his own will and with his own determination."

Anybody interested to know how it costs Rupees 1 crore can read this full article at this LINK

Wednesday, 31 May 2017

A Comment on Population of China and India

My Comment on an article "At 1.32 billion, India's population may have overtaken China's" published in the economictimes.com Dated 26/05/2017.


"The above article is based on a report published in The Guardian quoting statements of a Chinese Academic, Yi Fuxian, who claims that Chinese population has been overestimated by 90 million and the actual population as in 2016 would not be more than 1.29 billion." 

"But, we have always been taught through established sources that China is the most populated country in the world and India stands next to it with a wide gap. 

Both India and China adapted to family planning measures and so any decrease in China's growth rate must be corresponding to the decrease in growth rate of India also. Therefore, the statements in this article cannot be accepted. Further, it is base only on the assumptions of one Chinese academic and not proved yet.

We may assume that in a far off future, our population may exceed China's population if China becomes more strict in this issue of population control and if India does not take proper steps."

Saturday, 13 May 2017

A Comment on the new option available for purchasing new home under EPF Housing Scheme

My Comment on an article "Here is the step-by-step process to withdraw 90% of your PF to buy a home" published in the economictimes.com Dated 12/05/2017. 


"I am very glad to know of this facility available now.

It's a great relief to those employees who cannot afford to arrange funds for the down payment to obtain the housing loan.

Now, one can draw funds from his provident fund to meet the down payment requirement in order to obtain a house loan for purchasing a house."  

Thursday, 4 May 2017

A Comment on Housing Loans and Affordable Houses

My Comment on an article "Big players entering the affordable housing, housing prices could go down soon: Deepak Parekh, Chairman HDFC Ltd." published in the economictimes.com Dated 02/05/2017.


"Good news. Big Corporates and Developers are showing more interest in housing business with the new facilities offered through RERA act to both builders and customers. Now, builders need not pay tax on notional rent for the first year after obtaining the completion certificate of the building. So, they have one full year to sell their flats without incurring any extra burden.

But, from the viewpoint of the customers, and as myself being a middle-class person, I request our Banks and Government that loan facilities should be extended for the full 100% cost of the house instead of the present 80 or 90 per cent loans. Then only people could be in a position to buy their own homes. Otherwise, it is very difficult for people like me to arrange for even Rs.one lakh that is essential as the deposit to get a housing loan."

Thursday, 27 April 2017

A Comment on Techie jobs losing their importance

My Comment on an article "Why being a techie in India is no longer cool" published in the economictimes.com Dated 22/04/2017 at 3:30 pm.


"It is really a serious issue now which needs to be given much attention.

Indian IT industry should find alternative means and solutions to meet the challenges.

Instead of laying off the staff, they should concentrate on expanding their business activities within the country through innovating ideas and new schemes to utilize the available technology and staff. Our country has much more scope because of the large market base that it possesses.

We should block importing goods and technology and get them produced here in India itself. Our PM should look at it as he is already promoting the "Make in India" campaign offering some lucrative incentives."


Saturday, 22 April 2017

A Comment on Countries tightening Immigration policies

My Comment on an article "Malcolm Turnbull tightens Australian citizenship rules, makes immigration next to impossible" published in the economictimes.com Dated 21/04/2017 at 5:30 pm.


"Quite a reasonable step being taken by the Australian PM. 

Any country should give first priority to their own dignity and cultural values besides protecting their workforce. 

So, anybody that wants to immigrate should respect and follow their cultural practices by adhering to their rules and laws so as to enjoy that country's citizenship. He cannot demand citizenship spontaneously."


Saturday, 18 March 2017

A Comment on allowing PF members draw 90% fund to buy Home

My Comment on an article "You may soon be able to withdraw 90% of your EPF money to buy your Dream Home" published in the economictimes.com Dated 15/03/2017.


"But what about the case where there is no such cooperative society formed? He will be deprived of this facility to buy his home as he can't pay the down payment. 

People always lack funds to meet the down payment for buying their new homes. So, PF is the only reserve that they can rely on to meet this burden. The rest of the amount is facilitated through housing loans.

All residential projects may not be having these cooperative societies to enable one become a member of it and then apply for his PF withdrawal. So, how can they avail this facility of drawing 90% of funds if they get excluded by this clause of 90% withdrawal of PF being allowed only to members of societies?"

Tuesday, 14 March 2017

A Comment on Tension in Indo-US ties due to H-1B visas

My Comment on an article "H-1B visas could be a source of tension in Indo-US ties: former US Diplomat" published in the economictimes.com Dated 13/03/2017.


"True. The concerned people should look at the reality of this issue rather than just indulging in undue suspicions and misunderstandings of the reality and the underlying problems causing job losses to their community (at the cost of foreigners as they see it). 

I believe the American professional are also very much skilled and sincere in their work and so should find peaceful and other smart ways of securing top jobs and retaining their positions. 

Suspicion leads to dislike and hate. Love and understanding lead to nobility, hospitality, and perfection." 

Saturday, 4 March 2017

A Comment on levying of heavy charges on frequent cash transactions

My Comment on an article "Banks to levy Rs 150 after four cash transactions" published in the economictimes.com Dated 04/03/2017.


"It may not affect the common man as he will not need more than 4 transactions. But, business people will be burdened and so a good move by the Banks and government to curb their activities. 

You need to make only one or two cash transactions in a month. They are giving you more chances. 

Why not make card payments, cheque payments or mobile app payments? Try to learn things and manage new methods of payment. 

Our PM expects only this from you and he is not punishing you. See the good motive behind it and adapt yourself.

I am 65, but learning and doing all these things. Even age is no bar." 

Wednesday, 1 March 2017

A Comment on shootings at Kansas and similar Hate Crimes

My Comment on an article "Killing of Telangana man in US bar shocks family" published in the conomictimes.com Dated 25/02/2017.


"Very sad to see such things happening all around, not only in the US but also in Canada, Australia, and elsewhere. 

Some people are slaves to their feelings and are always overpowered by hate, jealousy and ill feelings towards others. 

When will they learn to love and allow others to live their lives?" 

Sunday, 26 February 2017

A comment on the allegation that most IT employees are not trainable

My Comment on an article "Capgemini India chief says 65% of IT employees not trainable" published in the economictimes.com Dated 25/02/2017.


"May be true in many cases but it should not be generalized. 

There are still many employees who are ready to improve their knowledge and skills and be innovative always. 

The management and the sectional heads should identify them and provide proper support to them. It is due to lack of support and due to the mentality of some of the staff and seniors that these people are becoming indifferent. They see no future by improving skills under such circumstances."

A Comment on the procedure of dispensing notes from ATMs

My Comment on an article "Govt. has no plan to reintroduce Rs 1,000 notes: Economics Affair Secretary" published in the economictimes.com Dated 24/02/2017.


"It's okay. There is no need for Rs 1,000 notes. 

But, monitor sufficient supply of the Rs 500 notes along with the Rs 2,000 currency. If a person wants to draw Rs 10,000 from an ATM, he should be provided some 500 notes also along with the 2,000 notes (say 4 Rs 2,000 notes and 4 Rs 500 notes). 

Presently, in most cases, we are getting only Rs 2,000 notes if we draw Rs 10,000 or Rs. 8,000 at one time. I am told to enter Rs 9,500 or Rs 7,500 if I have to get Rs 500 notes also."

Wednesday, 22 February 2017

A Comment on the offer of Free voice calls and Data to Jio members for one entire year

My Comment on an article "Mukesh Ambani: Free voice calls across networks for Jio users" published in the economictimes.com Dated 22/02/2017.


" This is a very Good news for all Jio users who recently got registered with Jio membership. All newly registered members are already getting 2GB data free. Now, they will be able to enjoy unlimited voice calls and data for one entire year up to 31st March 2018. This is a very wonderful offer by Mukesh Ambani, though it is aimed at surpassing its competitors in the industry.

But, one thing is not clear to me. I am unable to understand the point at serial no. 11 of this article which says that Jio prime members can get this at an introductory price of only Rs 303/month. If they need to pay, where is the free benefit?"

Saturday, 18 February 2017

A Comment on possible competition between Space X and ISRO teams

My Comment on an article "ISRO's rocket feat: Space X founder Elon Musk tweets praise and challenge" published in the economictimes.com Dated 17/02/2017.


"True, there will be competition in every field. One should keep on researching and innovating all through his life to succeed. 

There is always something new in each field of technology and, daily, you will be confronting some new people sprouting up with new skills and innovations. You need to keep pace with the fast growing technology to survive yourself.

But, our ISRO people are doing much better and let us keep faith and keep on encouraging them. They will definitely outshine others with their talents and rejuvenated confidence."

Friday, 17 February 2017

A Comment on the proposed Bill in Lok Sabha to restrict marriage spend

My Comment on an article "No more extravagant weddings? Bill in Lok Sabha seeks cap on guests" published in the economictimes.com Dated 15/02/2017. 


"An excellent idea. If it gets passed and implemented, a lot of wastage of money may be saved as many people do not like contributing or sharing their wealth with the poor people. They would rather loose crores in gambling but do not like donating even a small amount to the poor. So, they will definitely think twice before lavish spending. 

According to the proposal of this Bill, people should not spend more than Rs 5 lakh for marriages. If they persist to spend more, then, they should contribute 10% of the excess spending to a welfare fund to be used for the benefit of the poor classes of society.

The main purpose of the bill is to discourage wastage of money on lavish spending and divert that amount for the overall benefit of the economy."

A Comment on aftermath of Tamil Nadu political scenario

My Comment on an article "SC verdict: What will now happen to Sasikala, Panneerselvam, and Tamil Nadu?" published in the economictimes.com Dated 14/02/2017. 


"Tamil Nadu needs some change now. How long can they depend on political hierarchy? Some independent leaders with no family hierarchy should come out to lead and tackle the issues more rationally and honestly to the overall good of the people.

The Governor had asked Palanisamy to form govt and prove his majority within a week. But, can Palanisamy tackle the situation and lead the government in-disruptively?"

Wednesday, 8 February 2017

A Comment on suggestions for eliminating Personal Income Tax

My Comment on an article "Mr.Jaitley, isn't it time to get rid of personal income tax for the sake of better economy?" posted in the economictimes.com Dated 07/02/2017.


"The suggestions and the argument presented by this author are very justified. 

But, a loss of Rs 3 lakh crore to the treasury, if we discontinue the personal income taxation, is a matter of concern. How to recover from that huge loss of revenue?

Bank transaction tax, an increased GST Rate, and increased fares of travel, etc. can fetch some revenue. But, up to what extent can you increase these things?


Some great planning should be done with due care for the people being targeted with additional burden due to this impact on revenue."

A Comment on provision of tax deduction on Second Home Loans

My comment on an article "Budget 2017: Government rules out tax incentive beyond Rs 2 lakh for a second home" published in the economictimes.com Dated 04/02/2017.


"This is a very reasonable argument. 

Why should the government bear loss on account of providing a second home to people? 

Allowing a deduction for the first home is an act of generosity and it is necessary also. 

But, allowing deductions for a second home also is equal to the foolishness of the administration. 

That money could be used more beneficially in providing homes to the homeless people. So, the government is justified in doing so. They should restrict the amount to Rs 2,00,000 only with immediate effect."

Tuesday, 7 February 2017

Deductions available under various Sections of Income Tax Act

My comment on an article "How to pay less income tax post-Budget 2017 and beyond" published in the economictimes.com Dated 02/02/2017.


"Very useful information provided by the author of this article regarding tax exemptions that are now available. He discussed all the sections that can be used to invest in the various schemes and get the maximum benefit."

Deductions available:

Under Section 80C (includes 80CCC and 80CCD)
HRA, PF contribution, Medical expenses (Rs 15,000 per annum), Leave Travel Allowance (Rail fare or economy class airfare), Conveyance Allowance (upto Rs 1,600 pm), Child education expenses (100 as fees and 300 as hostel expenses er month),meals vouchers (50 per day), Insurance premium, etc. (Total amount allowed is Rs 1,50,000 per annum).

Section 80CCD (18)
A deduction is allowed for Investments made in National Pension Scheme up to a maximum of Rs 50,000 per annum which is not included in above limit of Rs 1,50,000.

Section 80D
Medical Insurance premium payments for self and parents, including a sum of up to Rs 5,000 towards health checkup. The maximum deductible amount is Rs 60,000.

Section 80E
Interest paid on the educational loan for self, spouse or children is fully allowed as deductible amount.

Section 24
Interest paid on home loans for self-occupied home is deductible under this section up to a maximum limit of Rs 2,00,000.
Interest paid on second homes and rented out by you are fully allowed as deductible amounts without any limit. The rent income is to be shown here as a part of your income.

Thursday, 2 February 2017

A Comment on Ban of Cash transactions above Rs 3 lakh

My Comment on an article "Arun Jaitley bans cash transactions above Rs 3 lakhs" published in the economictimes.com Dated 01/02/2017.


"Why is it above Rs 3 lacs? Why not ban at Rs 2 lakh itself?"

"Further, it is clearly mentioned that the Rs 3 lakh limit does not apply to people having agriculture income. So, where is the problem? Why should one indulge in cash transactions for such larger amounts at all?"

Those who do not understand or have problems in perceiving the Rs 3 lakh limit or my comment may refer to sections 269 SS and 269T of income tax act and also to an article on Financial Express which explains it very clearly at this link.

Tuesday, 31 January 2017

A Comment on ways to save tax on House Rent Allowance

My comment on an article "Looking to save Tax on House Rent Allowance? Here is all you need to know" published in the economictimes.com Dated 28/01/2017.


"This article is very useful to gain knowledge regarding making use of maximum HRA deductible while computing your income tax calculations. 

Deduction admissible for HRA benefit is that whichever is the minimum of the following three amounts:
1) Actual HRA received as part of his salary
2) 50% of salary for metro city employee and 40% of salary for employees at other places
3) The excess of Actual Rent paid by employee above 10% of his salary amount supported by rent receipt or agreement.

The salaried employee should take care that HRA received by him never falls short of his claimable amount as this can be a drawback for him if he receives say Rs 1500 as HRA in a salary of Rs 10,000 and if pays rent of Rs 2500 or more. In this case, his 10% salary will be 1000 and difference amount of rent excess paid by him would be Rs 1500 or more. But, as he is receiving only 1500 as HRA, he can claim only 1500 for deduction allowable.

So, always keep a watch on your HRA element in your salary."

Monday, 30 January 2017

A Comment on using Aadhaar Pay app through biometrics

My Comment on a news item "Government to launch Aadhaar Pay soon" as per ZeeTV and ETV news channels reports reported through a video at the economictimes.com Dated 28/01/2017.

"But how can they verify by simply relying on a mere thumb impression?

Some people, like me, do not produce any clear imprint of the lines of their thumb or any other finger as they have wiped off or got destroyed due to excessive use or tear.

There should be some other alternative option for such people to verify their identity."

A Comment about criticism of Modi's demonetization step

My Comment on an article "Where are the fake notes? Even RBI doesn't know" published in the economictimes.com Dated 25/01/2017.


"I don't understand why people argue like this and criticize any good moves taken. What is the use of unnecessary criticism? Modi government might have used some excuse (which they probably suspected, if not cent percent accurate). It could be one of the many other probable causes for demonetization.

You should at least realize some benefit from the action of demonetization step taken by our PM. Search for the plus points of it and not for the minus points.

But, I am worried now that they are easing the position by releasing more money into the market. It is not good for any economy to circulate more money in hard cash.

We should switch over to a cashless society for our own benefits. At least you will think twice before anything using your card or e-wallet and thereby contribute to the growth." 

Friday, 20 January 2017

A Comment on banning of Jallikattu sports and practices

My Comment on an article "Jallikattu: Protests intensify as Modi dashes hopes of an ordinance" published in the economictimes.com Dated 19/01/2017.


"This is a matter of cultural and traditional practices and beliefs of the people. So, courts may not involve in such matters unless sued by a party for any loss or damage incurred by him or anybody.

If somebody appeals to court with some real problem of concern or loss suffered, then only the courts should involve in it. Even in such cases, they should assess the loss and impose fines or punishment to the violators. The entire practice should not be banned. They can set some guidelines to protect the concerned victims.

Otherwise, public and NGO organizations should discuss such things between themselves and arrive at some reasonable solution."

A Comment on need to minimize the cash transactions

My Comment on an article "Government may lower limit for quoting PAN number for cash transactions" published in the economictimes.com Dated 19/01/2017.


"My suggestion to PM would be to minimize the cash transaction limit to Rs.20,000 for individuals and Rs.50,000 for businesses. Above those limits should be discouraged by imposing heavy transaction charges, that too in different layers of ascending order. 

If we want a cashless society we should do it more strictly without any leniency.

People should cooperate by switching to modern techniques of making payments even for a small value of articles." 

Wednesday, 18 January 2017

A Comment on increase in limits of cash draws by RBI

My Comment on an article "RBI raises ATM withdrawal limit to Rs.10,000 per day from current Rs.4,500" published in the economictimes.com Dated 17/01/2017.

"I think Rs.10,000 is enough for total cash transactions in a month. 

If you are allowing Rs.24,000 per week it is weird. It could be Rs.24,000 per a whole month at the best. 

We want digitalization and then allowing excessive cash outflow is not a good step. Our government or RBI shouldn't increase any more extra limits for cash draws either from ATM or from the banks for normal transactions. 

Only small traders can be allowed to draw more cash to disburse wages. Not otherwise." 

Tuesday, 10 January 2017

A Comment on keeping knowledge of deductions allowable under I.Tax Act and invest with prudence

My Comment on an article "5 things one must consider before making a fresh Section-80C investment for FY 2016-17" published in the economictimes.com Dated 07/01/2017.


The author of this article pointed to the various options available with a detailed analysis to obtain the most possible benefit from investments and also to get the exemption to the utmost limits for the current Financial Year ending on 31st March 2017.

The most important among these points is that you should know up to how much deductions you are entitled to:

Under Section 80C, the maximum deduction available is Rs.1.50 lakh.

Section 80CCD allows you a further deduction of Rs.0.50 lakh on investments made in National Pension Scheme.

Section 80D provides you a deduction of up to Rs.25,000 on premiums paid under Health Insurance Plans. If it is a senior citizen, then deduction allowed is up to Rs.30,000.

Further, there is an additional deduction available under Section 24 for interest payments on home loans. The maximum interest deduction allowable under this section is Rs.2.00 lakh.

So, you are able to see that one can get maximum benefit by availing all these options if he can invest prudently.

Sunday, 1 January 2017

A Comment on the relationship between car ownership and income-tax liability

My Comment on an article "24 lakh people have income above Rs.10 lakh but 25 lakh cars bought every year" published in the economictimes.com Dated 31/12/2016.


"Figures can't be linked like these. Car purchases and eligibility for the tax are two different things. One should have the full details to check the actual position. 

The author is taking the tax -payers' statistics of A.Y. 2014-15 and trying to explain the figures. We should take recent figures for the actual position.

Moreover, if one owns a car, he need not be treated as falling in the income tax eligibility range. Many models are available cheaply and anyone can purchase a car nowadays earning minimum income. Even if you have a salary of Rs.25,000 pm, you don't fall in the taxable range. You can easily purchase a car paying very low EMIs affordable within your income."

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