We Design Your Financial Destiny


(Precious) Words of Wisdom : "Only those who are asleep make no mistakes." ~ Ingvar Kamprad

WHY FM LOVES NRIs?

FM is paying 9-10% returns on FDs to NRIs. FM is paying 9-10% on FD to us too. BUT THERE IS A DIFFERENCE.

For NRIs this interest is TAX-FREE! Yes, they don't have to pay any tax.

But we, poor residents, have to pay anything between 10 to 30% as tax on this interest income. Why this discrimination Hon'able Finance Minister? Why?

[By the way, FM is doing this because he needs more and more dollars. Why does he need so many dollars? Well, we CONSUME TOO MUCH OIL and BUY TOO MUCH GOLD. To import these, the FM needs lots of dollars. Hence this love for NRI's dollars! So what do we do? Simple - use less petrol/diesel and buy less gold. Less oil also means less pollution. Less gold means less of non-productive asset. Problem solved.]

Those interested in reading Warren Buffett's interesting comments on Gold may kindly refer to his annual letter to the shareholder for FY 2011 (pages 18-19) published in Feb 2012.

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

101 Classic Tips Money Gyaan

You Learn A Lot By READING... And Even More By SHARING.

Share Button

Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

Subscribe via Email
Powered by Blogger.

... Three VALUABLE Tips ...

1. NEW Year. OLD Resolutions. The Timeless Money Maxims.
Timless Money Maxims
It's time to 'sharpen' the OLD resolutions, not write any NEW ones.

 


2. Housewives Too Can Become Millionaires
Millionaire housewives with compounding
Saving for MORE TIME gives much better results than saving MORE MONEY.

 


3. Why Super Top Up Health Insurance Plan Is A Must
Top Up or Super Top Up
Top Up or Super Top Up? The choice is VERY clear...