inscriptions 7

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INSCRIPTIONS 7 WALL 2 PANEL 3 HIGHLIGHTS OF THIS ISSUE: 1) FUNDAMENTAL PRINCIPLES OF FINANCIAL PLANNING 2) EARLY RETIREMENT 3) INCOME TAX AY 2015-2016 AND THE SCULPTOR INSCRIBES TALKS ABOUT TIME MANAGE- MENT “TIME IS MORE THAN MONEY”

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House magazine for the associates of Gopast. This is the Seventh quarterly issue. Inscriptions made on stone seldom fade, this is the core of the tag line of this magazine. Truth Stays Forever. This magazine will be of interest for people engaged in the financial services industry

TRANSCRIPT

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INSCRIPTIONS 7WALL 2 PANEL 3

HIGHLIGHTS OF THIS ISSUE:1) FUNDAMENTAL PRINCIPLES OF FINANCIAL PLANNING2) EARLY RETIREMENT3) INCOME TAX AY 2015-2016

AND THE SCULPTOR INSCRIBES TALKS ABOUT TIME MANAGE-MENT “TIME IS MORE THAN MONEY”

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i

TITLES SPACE FOR P.NO

Sculptor Inscribes RG 2

Gurus speak Faculty Members’ space 12

Caterpillar Space Students and Trainees 24

News Channel Happenings at Gopast 37

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Inscriptions 7

TIME IS MORE THAN MONEY

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TIME IS MORE THAN MONEY

Time is more than just money

R.GOPINATH

[email protected]

This article is relevant to all professionals. However to make it specific i have designed it for life insurance marketing professionals. People from other industries, also will find the concepts mentioned here are applicable to their life as well, with very little modifica-tions.

As the agent starts growing in his career, he will find the rewards going up, his income go-ing up, the status going up and all this will fur-ther motivate him to do more. But while all other things will grow, one major resource will become more in demand and that is TIME. As the clientele grows, the time to be spent with them also grows. They will all ex-

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[email protected]

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pect the same attention that they got in the earlier days from the agent. But now since the clientele has grown, so much time may not be available to be spared with them.

Again more the business more will be the service requirements. More time will be needed by the company to handle that many cases. As the popularity grows, there will be many invitations coming forth to take part and address various gatherings. suddenly there will be rush for your time from all the quarters. The family and in particular the chil-dren will expect more time to be spent with them, the societal contacts expects that you participate in social gatherings and parties, the clients also will be expecting in-detail at-tention, the business that grows also chal-lenges our existing knowledge levels and we

will be need to constantly learn and relearn to keep an update of the profession.

How are we going the address to all of these all at the same time. So as an agent grows up in career, apart from the other skills that he might be learning to progress in his business he must also learn more time management skills.

In fact the word “Time Management is a mis-norm. Because you can not manage that you can not control. Time is absolute, it is granted to all in equal measure. Whether we want it or not we will have the 24 hrs. We can not have less, nor can we have more. Therefore it is not in our control.

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We can only control the way we utilise time, meaning it is truly “Self Management” and not time management.

One of the basic pre-requisites for effective time management is our attitude towards time.

Time is so precious and different from any other resource that we have been blessed with. Some people say time is money, but i used to say time is not money, time is more than money. Because time has some qualities that money does not have. Time is not stor-able, money is storable. If i have 2000 rupees with me, i can store it some where to be used later, if i have 2 hours extra, where can i store it? not possible at all. Money is transfer-able. I can take 2000 rupees from you and re-turn it later, but i can not take 2 hours from

you and give it back later. Above all Time is ir-reversible.

There was a poor little boy in a village. He used to go to the neighbouring village to work. He has to cross a river to reach that village and there used to be a boatman who ferries people from this shore to the other. Daily this boy used to go in the morning and return in the evening after the work in that boat along with a few others. One day he got delayed at the work and by the time he came to the shore, the boatman had left carrying others. So he had to stay back on the shore itself, and wait for the dawn.

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He slept on the banks of the river. But as the night grew, the boy became scared, being alone. He felt a few pebbles near his hand, and he picked them up and started throwing them into the river. It made splashing noises and he derived some entertainment in that. And then he reached out to a few more in the dark and threw them one by one into the river. The sky was lighting up slowly at dawn, he had two pebbles in his hand still, he thought to throw them away and walk back to his work. But as he opened his palm, he saw the pebbles he had in his hand were shin-ing, and when he observed them closely he knew they were not pebbles but they were gems.

So all through the night in the dark, without knowing that they were gems, he had thrown away valuable gems into the flowing river.

Can he now jump into the river and get them back. No way, they would have been just washed away, they cannot be got back. Everyday that God has given us is like that a worthy gem, but if we while them away then we may not get it back. Better value the time before it is too late.

There are a few COMMON time wasters listed hereunder:

While most of the people say the category 1 is what is taking away most of their time, the fact is category 2 are the real time wasters. They take away 4 times more than the cate-

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gory 1. In fact as it appears from the above category 1 seems to be not under our con-trol and therefore nothing much can be done about them. Not truly so. Even the list in category 1 can be avoided with little precau-tion. It is the category 2 which is directly un-der our control that take away most of our time.

Therefore we must take steps in our life to avoid items in the list of category 2.

Procrastination is the biggest thief of time, apart from the fact this causes most loss in the form of missed opportunities. We need to overcome this. We can not escape from a job by procrastinate, we only will be adding more pressure on us towards the end by postponing it now.

Unorganised behaviour leads to spending more time frequently searching for impor-tant things. If we can designate a place for everything and put everything in those desig-nated place, the we may not need to be searching things quite often.

Laziness like procrastination takes away most of the time and drives us into crisis situa-tions from which we need to do double the required work to get out of.

Not keeping time schedules, and being late for the appointments and meetings not only wastes our time but also the time of many others. Punctuality is the basic discipline.

Not being able to decide quickly and waver-ing is like ischemia, a silent killer. People want to be absolutely sure of being correct before they take a decision. One does not have to

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be correct always. A few mistakes is afford-able rather than being stuck indecisively. We need to take reasonable care, but being over cautious can be worse.

In an agents work life there are a few things which have to be done on priority. I call them as brushing teeth jobs. We will look at these brushing teeth jobs hereunder towards the end of this part of the article, which can be a great way of saving maximum time for the agent and save him from crisis situations and fire-fighting most of the time.

The problem with most of us is that we are busy. The question is what is it that we are busy about? Are we too busy to find no time do even essentials? Say for example are we so busy that we don’t find time to service and maintain the vehicle till it breaks down? Are we too busy to find time for preparing

well for the client meetings? Are we so busy that we cannot steal time for physical exer-cises till the medico puts us on a supervised fitness therapy?

So what does all this mean? is being busy a crime? no, not at all. Being lazy, being idle, es-caping from duties, slipping into procrastina-tion syndrome, getting into self made crisis all of these are crimes. Only difference be-tween any other crime and these are that these are not punishable under Indian Penal Code. But the penalties that we may pay for these crimes are far too heavy.

One of the basic aspects of time manage-ment is that, we can effectively do only one thing at a time. Therefore it is important to choose as to what is that going to be? Say for example if you are sitting in front of a prospect trying to find some common

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ground for business, during that time you can-not attend to some other task which you had left unfinished at your desk. And for some reason you attempt to even think about that, you will be ineffective in both, with the prospect and the unfinished task. True that our capacity is unlimited but when it comes to effectiveness it is best when we are at one job exclusively.

There are some tasks that will enhance your overall effectiveness and there are some that will keep you fully engaged but may not con-tribute to your effectiveness, most of the time they might reduce your effectiveness. So the more we are engaged with the former type of tasks the better. While all these points are generic for all professionals and public, let us now focus on some points spe-cific to a life insurance agent:

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While PLANNING AND PRIORITISING and BUILDING COMPETENCE are the ba-sic essential and define the span of our reach, the other three activities namely PROSPECT-ING AND DEVELOPING, IN PERSON WITH THE PERSON and BUILDING COM-PETENCE will decide the heights that we will reach in the profession of insurance agency.

We call them brushing teeth jobs for the rea-sons that they are:

To be consistently worked upon,

Probably the first things to do,

That mostly they can not be entrusted to others, and

Neglecting these areas can cause serious set backs in overall functioning of our business.

In fact working constantly on these seven ar-eas can save quite a lot of time for us and can prevent major crisis that we can get into in future. Let me explain all these seven tasks in detail in the coming issues, please stay con-nected.

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8 Governing principles:

1) If a person adopts the formula “Income - Expenses = Savings” then he can never become wealthy. The correct formula is “Income - Savings = Expenses.

2) Regularity is the key to wealth. (The key to wealth is not the ROI, IRR, CAGR etc)3) Start early and reach safely.4) Gold and greed can never stay together.5) Purpose must decide the choice.6) Financial Pyramid7) Draw the map before you start the journey.8) Professional support helps.

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In the previous episode we saw the first principle “Income - Savings = Expenses”. In this sec-tion we will see the principle no 2: “Regularity is the key to wealth”. Even small amount is saved on a regular and consistent basis, daily, weekly, monthly or yearly can make a person wealthy.

In fact many important aspects of life are governed by this rule “Regularity”. Physical exercises done on a regular basis to the wealth called Health, Reading books on a regular basis to the wealth called Knowledge. Daily prayers to God in the Spiritual aspect of life for the wealth called Blessings, Regular practice to the wealth called Skill in any sports. And this list is endless. SO ALSO IN THE ASPECT OF FINANCE AND WEALTH.

Let me narrate a story here,” Mrs Oseolo McCarty was a Afro-American living in America. Mrs Oseolo McCarty was a washer woman. She got to be employed as a washer woman, for a con-tractor who did cleaning work for big hotels, at her age 40. Amongst several other women working there as washer women, Mrs McCarty was different. She created a habit that of the daily wages she receives she used to deposit 10$ everyday in a bank on her way home in the evening. And this she did for almost 32 years.

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Mrs Oseolo McCarty

One day the contractor had served her a pink slip, meaning that she need not come for work from the next day and her services have been terminated. The last day with 10$ in her hand to deposit at the bank, she says to the bank clerk “Son this is my last 10$, i got a pink slip today, i may not be able to come from tomorrow to this bank to deposit my daily money”. The clerk asks her does she know how much money is there in her account? She says could be 30 or 40 thousand dollars, the clerk says, “No Mrs McCarty, your account has a balance of 200,000$”. What is key to wealth? Regularity.

He says if he can cash it and give her. She says “No, son. Leave 100,000$ in my account, i will use it whenever i require money. Balance 100,000$ transfer it to the name of this bank and cre-ate a trust of that and help students who want to do their university education, but are not able to do so due to their financial condition.”. The clerk takes her to the manager and after all the formalities completed the trust was created.

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8 or 9 years later, Mrs McCarty fighting with a pancreatic cancer, was advised by the doctors that she need not take any medication now as they are not going to help and she is in her final stages now. One doctor however suggests a that she can get operated by one Oncologist from California and the chances are that she may get to live 2 or 3 years more if the operation is successful. But the whole thing could cost quite some money. She agrees and the surgeon was brought from California and the operation was done and it was successful. Mrs McCarty gets another 2 years to live.

After the surgery while she was recovering, the Surgeon came to her bed and enquired as to how to she feels now. With folded hands she thanked the doctor and said,”Son i dont know at this old age how i am going repay you for giving me these two more years to live, but whatever is left with me i will certainly give you what i can.” The doctor holds Mrs McCarty’s hands and with tears in eyes, says, “Mrs McCarty please don't even mention that, have you forgotten me, i am the first person to use your Trust money to enter the university. If i am doctor today, it is because of your money, how can i ever take more from you. Just bless me, your blessings is all that i require.”

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Mrs McCarty was recognised by the US Government with the Most Valuable Social Person of the Year Award in 2004.

What does this story illustrate?

The power of regularity in savings. Getting committed to a habit and investing that money even it it small, but on a regular and consistent basis can make a person wealthy.

People feel that higher ROI (Return on Investments) will make them wealthy. What they forget is that the higher the ROI the more the risk that investment is subject to. In fact an easier and surer way to become wealthy is “Regularity” in savings.

How else do you think our parents, grand parents and great grand parents become wealthy. They have left behind assets for us. Landed properties, Jewels, High quality furnitures, Art pieces and a lot of Cash. How did they achieve all these? In fact their earnings were much less in amount compared to our today’s earnings. They earned in hundreds and thousands, whereas

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we are earning in hundred thousands. They did not have fancied investment opportunities that we get to nowadays. No derivatives, F&Os, PE Funds, ETFs nothing of that sorts. But still they left behind assets for us. They followed the principle number 2 of Financial planning and Wealth management that is “REGULARITY IS THE KEY TO WEALTH”.

I will give you a home work on this so that the above principle is understood well. Please use an excel sheet and solve this problem and send me the answers. I will give the conclusion of that exercise in the next issue, in the meanwhile get busy with this calculation:

PLEASE GIVE ME THE IRR FOR THESE TRANSACTIONS:

Column number 1 shows the year, 2,3,4,5 and 6 are showing the investments done in the re-spective years (in red fonts) and the amount got back also (in blue fonts) in the respective years.

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CHAPTER 3

GURUS SPEAK

EARLY RETIREMENT

MR SUBASH. U. N.

FACULTY MEMBER

[email protected]

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Retirement is often thought as receding from active working life. Many people whom I meet offlate express a desire that they want to retire early in life as they believe that they can’t work longer or may I say donot wish to work for long time. The general opinion about retirement is that it is a point of time when the active income (salary / business income) stops and we may have to sustain ourselves with passive income (rent / interest). What is more important than physical retirement is Financial retirement.

Financial retirement means to provision for a sufficient corpus that would generate enough pas-sive income to take care of our living expenses.

If one wishes to retire early in life we have to follow the 5 principles listed below.

5 things to do to retire at 50.

1. It is often said that small drops maketh an ocean. We have also heard the saying “Start early, Drive slowly, Reach safely” This is applicable in almost all aspects of life not just driving. Start your investments early even if they are small amounts. In the exhibit below you can observe that the person aged 25 needs to save just 14% of his income in comparison to a person aged 30 or 35. A person starting to plan at 40 can never retire at 50.

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2. If I ask you “Is water stronger or the Rock?” The obvious answer would be – The ROCK. But you would have seen many times that when water consistently falls on a rock even that can crack and break. Similarly, to retire early, Be consistent with your investment pattern and raise it atleast in tune with your salary growth rate. When we increase our lifestyle in tune with the income growth the same applies to our investments also.

3. Very often we hear people say that I live for myself not for others. The same applies wrt our spending habits too. Many people spend on electronic items or cars just out of peer pres-sure or social compulsions. This sometimes leads to a situation when people live beyond their means. Living frugally is difficult but the only prudent way to achieve financial freedom. This should be done out of choice and not force. Many rich investors like Warren Buffet have these traits and that’s why they are respected globally.

4. It is extremely important to ensure that our money grows at the pace which beats infla-tion. The only asset class which have consistently done this is in the long run is ‘Equity’. It has been proven across decades that they are a major wealth creator in the long run. Having a SIP run in a good diversified portfolio of stocks either directly or through MFs / cost effective ULIPs is a very simple way to achieve this.

5. Money not spent is money earned. So have a proper budget for every month and be con-scious of how much you earn, spend and invest. Have proper insurance for medical emergen-

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cies. Also have about 6 to 12 months of expenses in cash equivalent forms to manage any con-tingencies based on your age and employment profile. Manage debt judiciously. Never borrow to fuel your life style.

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Assumptions for the above workings:

Retirement age : 50, Life expectancy : 30 more years after retirement (age 80)

No current investments. No other receipts on maturity. No plan to leave any estate.

Inflation : 8%, Pre retirement return : 14%, Post retirement return : 9%, Salary growth rate : 10%

The monthly SIP will be increased every year @ 10%

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CHAPTER 4

CATERPILLAR SPACE

THIS SPACE IS MEANT FOR THE STUDENTS OF GOPAST

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INCOME TAX AY 2015-2016

BY

MRS LEENA CHHEDA CFP

AND

MEET CHHEDA CA

[email protected]

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Deduction of interest payable on the amount bor-rowed for Self Occupied House property under sec-tion 24 has been enhanced from Rs. 100,000 to Rs. 150,000.

ï Currently, under section 10(10D) of the Income Tax Act, any sum received from a life insurer is not taxable if the premium payable is upto 10 % of the sum assured. However, if the premium exceeded the 10% limit, then the sum received is taxable. However, there were no provisions for deduction of tax on such income. Thus, section 194DA has been introduced w.e.f 1st October, 2014.

o Deduction of Tax by - Insurers

o Rate of TDS - 2 per cent on sum paid

o Paid to –Resident

o Payment of – Any sum paid under a life insur-ance policy, including bonus, which are not exempt under section 10(10D) of the Income Tax Act.

o Amount paid – TDS to be deducted only of the ag-gregate sum paid in a financial year to an assessee is Rs.1,00,000/- or more.

Note: The new section is applicable to payments made to residents, since for payments made to non residents, which were not exempt under section 10(10D) of the Income Tax Act, TDS was already to be deducted under section 195 of the Income Tax Act.

PS: TDS deduction on life insurance policy monies:

The following will be Exempted from TDS:

1) Polices issued with DOC prior to 31.03.2003

2) With DOC between 1.4.2003 to 31.03.2012 if Risk cover is at least 5 times the annualized premium And Where risk cover is less than 5 times but the payment in the FY is less than 1,00,000.

3) Where DOC is 01.04.2012 or later and the risk cover is more than 10 times the annualized premium,

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and where the risk cover is less than 10 times but the payment in the FY is less than 1,00,000.

(TDS will be deducted @2% if PAN details are submit-ted otherwise TDS will be deducted @20% if PAN de-tails are not available.)

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INCOME TAX CLAUSES:

CAPITAL GAINS

All of us are aware that income in any form usually at-tracts tax. Capital assets are wealth created over a life-

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time and the choice of selling these assets is made with an intention to increase existing wealth in the form of gains. Tax on capital gains directly affects in-vestment decisions. However, there are various op-tions available under the law to counter the tax aris-ing at the time of sale, some of which have been ar-ticulated below to help you pick options of your lik-ing.

CATEGORISING YOUR GAINS

Capital asset is defined to include property of any kind excluding stock-in-trade, personal effects, agri-cultural land and certain specified bonds. However, jewellery, archaeological collections, drawings, paint-ings, sculptures or any work of art although may be for personal use are also covered under the defini-tion of 'capital asset'. Capital gain is computed by de-ducting the cost of acquisition, cost of improvement and any expenditure incurred in connection with transfer from the sale consideration. Capital gains can be classified into long-term (LTCG) and short-term (STCG) depending on the period for which the capital asset has been held by the transferor before the date of suchtransfer. It is important to remember the category in which the capital gain falls because it will eventually impact the rate at which it is taxed and the tax benefits which can be enjoyed on re-investment of such gains/consideration.

STCG is earned on sale of a capital asset which has been held for not more than 36 months immediately preceding the date of its transfer. In case of any secu-rity listed on a recognised stock exchange in India or a unit of the Unit Trust of India or a unit of equity-oriented mutual fund or a zero-coupon bond, the pe-riod of holding for the gain to qualify as STCG is twleve months. The Income tax law has recently been amended to provide that the unlisted securities and a unit of mutual fund (other than an equity-oriented mutual fund) shall be a short-term capital asset, if it is held for not more than 36 months (which was 12 months in the erstwhile provisions). Any "capital as-set" held for more than 36 months before its transfer (more than 12 months in case of listed securities, units of UTI or equity-oriented mutual fund) will qualify as a long-term capital asset and gains realised on its sale will qualify as a LTCG.

LTCG is taxed at a beneficial rate of 20%, plus a cess of 3%, subject to fulfilment of certain conditions. Be-sides the concessional rate of taxes available on sale of capital assets, there are also certain exemptions provided under the Income tax law for capital gains arising from sale of long-term capital asset.

CLAIMING EXEMPTIONS

LTCG is exempt for an individual or HUF on sale of a residential house property, if such gains (not the

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whole consideration) is utilised to purchase or con-struct another residential house. It should be noted that the new house should be purchased within one year before or two years after the date of transfer. In case of construction, the new house should be con-structed within three years from the date of transfer. Exemption will be limited to the capital gains or the cost of the new house, whichever is lower

LTCG is exempt for an individual or HUF where it is realised on sale of any capital asset, not being a resi-dential house, if the net consideration (not merely the gains) is invested in purchase or construction of a residential house. The timeline for purchase or con-struction is the same as mentioned above. However, to avail this benefit, the assessee should not own more than one house other than the new asset on the date of transfer. As per the recent clarifications made in Finance Act, 2014, the purchase of house property to claim such exemption has been restricted to one residential house property situated in India. Exemp-tion in this case will be proportionate to the amount invested in relation to the net sale consideration.

The exempt amount is calculated by multiplying the capital gain with the number arrived by dividing the amount invested with the net sale consideration. Al-though LTCG is required to be invested as per the timelines mentioned in Income Tax law (i.e. two/

three years from the date of transfer), it is possible that such investment may not be made before the due date of filing of return.

Accordingly, the unutilised amount of capital gain or net consideration can be deposited in a separate ac-count maintained with a nationalised bank under the Capital Gain Account Scheme (CGAS). Such invest-ment needs to be made before the due date of filing of return of income in order to claim exemption and should be utilised only for specified purposes within the stipulated time period. In case the amount depos-ited in CGAS is not utilised within the specified pe-riod, it shall be charged as LTCG of the year in which the time limit for making the requisite investment ex-pires.

LTCG can be claimed as exempt in case the gains are invested in bonds of National Highways Authority of India and Rural Electrification Corporation within six months from the date of transfer. However, the ex-emption is limited to Rs 50 lakh in such a case. It has been recently clarified in the Finance Act 2014 that the limit of Rs 50 lakh is in aggregate and applies to total investment. The exemption up to Rs 50 lakh can be claimed only in one financial year, even if the specified period of six months covers two financial years

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It is important to remember that staying well in-formed of beneficial tax provisions always helps in saving substantial tax liability. All that is required is to make prudent investments at the right time. This will help in enjoying the fruits of one's labour with-out taking a cut on the pocket in the form of tax.

The author is Divya Baweja-Partner, Deloitte Haskins & Sells LLP

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AGENT- A CRAFTED BAMBOO

BY MR JAGADEESH. R

[email protected]

Everyone of us know about the great grass bamboo “Bamboo”. We can see them grow in many places, but we have to realise the fact that only some bam-boos are crafted into useful musical instrument – ‘Flute‘ . In the same manner , we can see many agents around us. We have to realize and select a correct

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agent. Selection of good agents only can make our life and investments useful and happy.

Successful agent is one who believes in continuous at-tempts to succeed after many failures. It is only through his attempts, he can overcome even the most bitter experience to reach the best results. Even good thoughts about future can create a good agent. A short story to explain the theme.

There was once a man who wanted to uplift his life style and he also wanted to know about his future. He journeyed through a village to meet an astrologer. The astrologer asked the man to come back the next day. The man started his way back to home when heavy rain poured down. The man entered the nearby temple and saw that its deity Lord Siva was drenching. When he had a close look at the temple, he saw that the building was in very bad condition. He began to dream about renovating the temple and perform the “Kumbabhishekam” – the ceremonial rites for the temple and the deity. Suddenly he heard a hissing sound and turned back to find a black cobra ready to bite him.

Feeling afraid, he ran out of the temple and to his great shock, he found the temple building tumble down. His life was rescued in a few seconds. When he went to meet the astrologer the next day, the astrolo-ger was shocked to see him alive. According to his as-

trological power,he knew the man should have been dead by now, and if he had to live inspite of his fate, he had to build a temple with in a night which the as-trologer knew was impossible.

When the man explained the incident and the dream that happened the previous day, the astrologer was dumbstruck. He knew that God’s grace was showered upon the man.

But we should understand that every problem cannot be solved easily. We need to make attempts to build a safe and peaceful future for us and our family. Death is a very natural occurrence. We cannot stop it, nei-ther God. But we can safeguard our family through in-surance policies.

Agents are the messengers to safeguard our family members even after our demise. Good Agents are the flutes – the crafted bamboo, who are useful to the so-ciety. Let us try to become good and successful agents true to the meaning of the word and work.

Let us do our duty, and leave the rest to God!

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CHAPTER 5

NEWS CHANNEL

PALM LEAF PORTAL WAS LAUNCHED ON 14TH APRIL 2014

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I HEARTILY THANK AND CONGRATULATE THE TOP USERS-RGFROM OUR SUBSCRIBERS THE TOP 10 USERS OF PALM LEAF PORTAL SINCE BEGINNING UPTO 30.09.2014.

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THE TOP 10 UTILITIES USED

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Competition for the users of Palm Leaf -

“KNOWLEDGE TREASURE HUNT

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Dear friends,

Thank you for subscribing to Palm Leaf.

From Oct 2nd the birthday of the father of our nation till the end of this calender year 31st December, the Palm Leaf subscribers will be ranked according to their usage of palm leaf. This will be done on the basis of both the time spent in this portal as well the number of pages visited.

The top 10 from this merit list will be given ONE EXTRA MONTH OF USAGE when they renew their subscription for the next year. That is the next renewal that is for Rs 2000 for one year will give these meritorious people a 13 month usage.

As on date the top 10 users of Palm Leaf dur-ing the last week are:

Mr Sabaji Ganpat Bhagat

Mr Rajesh Dossa

Ms Dipti V Doshi

Mr Anil Jha

Mr Chakrapani V

Mr Ranjithkumar A

Ms Sunitha Rathi

Mr Asis Baran Chakraborty

Mr Dipak Chatterjee

Mr Sanjay Shelat

The Competition "Knowledge Treasure Hunt" starts from 02.10.2014

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AGENTS AT ULLAHSNAGAR WRITING THEIR

FINAL EVALUATION EXAM OF MISSION MDRT COURSE

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AGENTS AT ULLAHSNAGAR WRITING THEIR

FINAL EVALUATION EXAM OF MISSION MDRT COURSE

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Mr Bharat Parekh celebrated his 29th anniver-sary of LIC Agency, on14th September 2014, as a Thanks giving Day to his clients. During these 29 years he has covered his clients for over 2066 crores of insurance cover, has set-tled over 37 crores as claim amount and his team has clocked 10lakh man hours serving more than 40,000 policy holders

In Pics are Mr Bharat Parekh, Mrs Babita Parekh, Mr. R. Gopinath and Mrs Rajalak-shmi Gopinath.