Who likes to pay taxes? Not me, at least. That is not much of a confession of course. Though all of us know quite well the role that tax collections play in our lives through collective amenities provided by the state, there will hardly be anyone who does not look at the tax column in his or her salary slips and wish that it did not exist. It does not matter which tax slab you are in, the feeling is the same.
When each financial year comes to a close, there is a rush to find ways to minimise tax incidence for the year through approved investment options. If you do not know the way out of the maze, chartered accountants and personal finance advisors are prepared to help you reduce the impact of the revenue department's attempt to carve out a large slice from your annual salary pie.
Does the revenue department take its eye off you when your working life ends? It doesn't. You carry your tax liabilities even during your retirement years. But if you have so meticulously planned your finances to reduce the tax impact during your working days, you should be doubly cautious about retaining the maximum from your retirement kitty by ensuring that your tax liability is kept to the minimum.
With increased longevity, there could be several years ahead of you to provide for after you retire. Your retirement corpus needs to be invested somewhere to get you the maximum returns. There are many smart ways of doing this. In our cover story, we tell you exactly how to do it with ease. This is not about tax evasion, but tax planning, which all of us are entitled to.
On the policy front, there has been a flurry of activity both within the country and abroad. As we were closing this issue, the government came out with several reform measures that infused some much-needed life in the somewhat dormant equity market.
However, the start of the rally happened a few days prior to this with the European Central Bank announcing liquidity injection measures that triggered a rally in global markets, including India.
There are several listed Indian companies, including some big names, such as Tata Consultancy Services, Infosys and Tata Motors, that have huge business interests in the European region. How will such stocks react to attempts to resolve the euro zone crisis? In our story on Indian companies exposed heavily to the European region we try to explain the likely impact of the developments in the euro zone.
The festive season is also fast approaching. Festival purchases have a definite impact on several commodities and consumer-oriented stocks. How are their fortunes going to unfold this season? Read about it in the latest issue.
SARBAJEET K SEN