Saturday, January 29, 2011

Tax calculation for ELSS mutual funds

income (Rs)	Tax Rates
Up to Rs1,60,000	Nil
1,60,001 to 5,00,000	10%
5,00,001 to 8,00,000	20%
Above 8,00,000	30%

Case I: An investor with Gross income of Rs500000/-, invests Rs100000/- in ELSS.
Particulars	(Rs)
Gross Income	500000
Less: Tax benefit u/s 80C (ELSS)	100000
	400000
Less:Income Exempt from Tax as per slabs	160000
Taxable Amount	240000
Tax Liability
Tax Rate applicable @10% (10% of 240000)	24000
Education cess @3% (3% of 24000)	720
Tax payable	24720

Case II: Investor does not invest in ELSS
Particulars	(Rs)
Gross Income	500000
Less:Income Exempt from Tax as per slabs	160000
Taxable Amount	340000
Tax Liability
Tax Rate applicable @10% (10% of 340000)	34000
Education cess @3% (3% of 34000)	1020
Tax payable	35020

--
Regards,
P.Sudeesh Kumar
p.sudeeshkumar@gmail.com
www.sudeeshbubby.blogspot.com
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Fwd: SK @ MUMBAI Namaste Tower | 300 m | 62 fl

LOWER PAREL | Namaste Tower | 300 m | 62 fl | Site Prep

The Namaste tower! Designed by the Atkins design studio, work IS currently underway on this 300m-62 storeyed mixed use tower that will encompass a hotel, office and retail space. The location is Ambika mills which is a couple hundred meters south of the The developer of the project is unknown.

The renders and text were submitted by Atkins to the World Architecture Festival in Barcelona (3-5 Nov 2010).

Namaste: Hotel and Office Tower
Category: Future Projects - Commercial
Location: Mumbai, India
Architects: WS Atkins, Dubai, United Arab Emirates
Atkins, United Arab Emirates

Following the long tradition of great Indian Architecture it was our aim that the Namaste Tower will stand as a landmark structure, representative of the burgeoning economic and cultural significance of India. We aimed to design a building that would become representative of the city: the picture postcard of Mumbai.

Key Statistics:
• 120,000 m2 of Gross Construction Area
• 380 key luxury hotel
• Exclusive restaurants, bars, banqueting and spa facilities
• 9,000 m2 of A grade office space
• 6,000 m2 of world class retail space
• 300 m overall building height

"Namaste"
The traditional Indian greeting of 'Namaste', where the hands are clasped together in greeting, is the inspiration for the design of this tower. In Sanskrit "Namaste` means "I bow to you`. It has a spiritual significance of negating one's ego in the presence of another.

The Architecture of the Namaste Hotel builds on this ancient Indian expression. The two wings of the hotel are clasped together like hands greeting the city of Mumbai. In this way the architectural design of the hotel provides the ultimate symbol of hospitality and welcome, as seen in the as seen in the cultural context of India.

Visual Relationships to and from the Site
With a proposed height of 300 m the tower will be seen from a distance of more than 40 km. Therefore the visual appearance of the project as a major landmark is of great importance to the city of Mumbai.

Views from the tower will extend to the South over the Mahalkshi Race course towards the Mumbai Peninsula and to the South West over the Indian Ocean. The views to the north East are towards a number of adjacent towers that are currently being constructed. The orientation and massing of the tower have been designed in order to make the very best of these visual relationships.

The Building Skin
The tower has been designed to cater for large scale Indian weddings. The occasion of a Mehndi ceremony (where the hands and feet of the bride and groom are decorated with henna) is often one of the most important pre-wedding rituals in India.

The design seeks to build on the theme of the clasped hands by referencing the intricate Mehndi patterns through the treatment of the building skin. The tower is will be clad in fritted glazing that combines to form an architectural scale graphic on the exterior of the building. This will create a sense of transparency and depth to the building while at the same time helping to maintain the thermal qualities required to meet the building's envelope design criteria.

It is proposed that the large scale canopies over the drop-off points area support an array of solar thermal collectors. Given the available surface area and annual sunlight conditions these have the potential to provide 12% of the energy required to heat the hot water for the hotel.

Location (View on google maps):

^Site prep underway

General Arrangement
The tower is made up of two separate wings (or hands) which together form the architectural expression of "Namaste". The space between the wings forms the corridor spaces. At either end of the corridor space a pair of open atria will offer hotel guests dramatic framed views out over the city.

Internal Atrium Gardens
These atria also serve to bring natural light deep into the plan. At the plant floor levels these atria are broken with internal gardens that serve to bring greenery into the corridor and atrium spaces. It was a central design aim to ensure that the circulation areas of the hotel, (including corridors) are just as impressive as the rooms themselves.

The Podium
The geometry of the podium is designed to integrate fully with the design of the tower. Thus it is a highly symmetrical form that responds to the wing like canopies above the drop off. Containing mostly retail, the facade of the podium is activated with water features and fountains that cascade down to street level.

The Summit
At the summit of the building a generous quadruple height atrium space encloses a Sky Restaurant and Bar which will provide a unique vantage point for patrons to gain panoramic views out over the city.

Today, 07:48 AM

#3

Quote:

Originally Posted by IndiansUnite

Is it just me or this graphic looks like an airplane seating chart.
 
~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~
 Kind Regards,
P.Sudeesh kumar 

Tuesday, January 25, 2011

REQUEST OF INFORMATION

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e mail : kate@job2international.com

Tel : 00 33 3 57 75 52 18

Tuesday, January 18, 2011

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Friday, January 7, 2011

How bank relationship manager cheat you?

It took a little over 30 minutes. She asked four questions, filled a page with squiggles and gave me three forms to sign. My financial plan for the next 10 years was ready. This is why my friends had been gushing about the efficiency of bank relationship managers (RM). Of course, I seemed to have hit upon a finance wizard . Her speed made sloppy fools of advisers who take several meetings to come up with a plan.

She didn't bother me with intrusive questions either. I was posing as a newly married woman, eager to kickstart wealth creation. For this, I had conjured a fictitious husband with a salary of 1 lakh a month and a list of investments.

I should have put my imagination to better use. The RM did not ask anything about my husband. When I tried to offer the details, she cut me short: "Madam , it is your financial plan. There is no need for your husband's details ." One up for women's liberation. I felt sorry for experts who have penned books on the importance of aligning the investments of spouses.

The plan itself was simple and short. I claimed to save 30,000 from my salary of 65,000 a month and told her that I wanted to buy a car next year.

Her first advice was to squirrel away Rs 6,000-7 ,000 a month in a recurring deposit: "The interest rate is just 6-7% but the liquidity is high," she said. I was impressed. She was going by the textbook rule of financial planning: for short-term goals, invest in debt schemes.

But my happiness bubble burst soon after. "The rate is low. We advise mutual funds for the short term as well. They are equally liquid. But this deposit will act as a saving that you don't have to monitor," she added. Mutual funds for the short term? Was she referring to liquid funds? "No , equity funds which give 12-15 % returns," the RM clarified. We shifted to a quiet corner to discuss long-term investments . "I suggest you opt for an equity-oriented plan with an attached life cover," she said.

I interrupted her with information she felt no need for: "But I have no dependants. Is that not why people buy insurance ?" Her reply was quick: "You earn 65,000 a month. So your life has some value for your parents and husband." To think so long I had assumed my parents loved me for reasons other than my salary. Will I also land a husband with mercenary motivations? The RM started listing the products I ought to invest in. No guesses, a Ulip was the first suggestion . "Our company launched this scheme which is a huge hit. Let's say you invest 50,000 as premium. You get a life cover of 5 lakh and earn returns. The lock-in is for five years.

If you invest for seven years, there is a highest NAV guarantee ," she said. It was the word I was dreading – guarantee. I asked her to explain the concept of highest NAV. "Let's suppose the NAV is 10 when you invest. During the seven years, the market reaches a peak of, say, 21000 and the NAV becomes 20. Your profit will be booked on that day. Even if the market goes down and your NAV declines, you will get the returns as per the NAV of 20," she answered.

It sounded like a dream deal. Unless you knew how insurers fix the highest NAV. The link to the market movement was as much fiction as my marriage. (see What is wrong). What about returns? "At least 15%. The company launches these products regularly . The word 'guaranteed' is there. You will at least get 15% return if you stay for five years," she said emphatically.

Trying to sound evasive, I mentioned traditional insurance plans. "I can offer them, madam, but they give low returns. At your age you can play with your money . So invest in the market. Also, in moneyback policies, the bonus depends on how the company performs. You can't predict how much you will get. Ulips are the best insurance," she concluded.

Assured returns from equities and uncertain returns on endowment and cheating customers moneyback plans? As I stared at the RM in incredulity , she continued: "I think you should invest 1 lakh in the Ulip. Your tax saving under Section 80C will be done. Then if you have money left, invest in a mutual fund."Poor funds, extolled by experts as worthy to be the core of your portfolio. Meanwhile, she took out forms of the Ulip and two funds. Why these two? "They have given more than 20% returns in the past year," she said.

I promised to call after discussing the plan with my husband. The RM nodded and quickly moved on to the next customer. I was at the bank's entrance when, on a whim, I returned to hover around her cubicle pretending to look for something. She was engrossed in her explanation to the young man, "….the lock-in is for five years. After seven years you get the highest NAV…"

Source: Economic Times

Thursday, January 6, 2011

Invitation to view Sudeesh Kumar's Picasa Web Album - Recently Updated

You are invited to view Sudeesh Kumar's photo album: Recently Updated