It's that time of the year when one reflects on the year gone by. In a 'moment of clarity' on New Year's Eve, one intends to keep fit, eat healthier food, etc, in the New Year. By mid-January, the resolve weakens, till one reverts to the previous routine. That is, till the next New Year's Eve.Behavioural economists have some advice on how to make New Year resolutions work. My favourite behavioural economist, Dan Ariely (along with Kristen Bermen), writes, "One simple answer is to take advantage of these moments of clarity at the start of the New Year and take action that commits us to making good decisions in the future. Much like Ulysses and the sirens, this way, even if we are tempted to stray, we will not be able to act on our temptations." In other words, take some irrevocable step that will commit you to follow the good path, by making the cost of stepping off high. You could read their advice on resolutions for a healthier lifestyle on the link http://danariely.com/2013/12/30/5-n

This New Year's Eve, change your life forever!

Business Standard

Despite taking the initiative in several areas, the country's biggest bank does not meet the aspirational needs of the younger generation. Work is on to change this

40 years ago...And now: SBI and the big bank theory

The system could be used as a starting point to understand the risks associated with mutual funds but should not be used in isolation

Don't rely on colour codes for full picture

With the cyclical nature of interest rates, floating rates are good for long-term borrowers

Home loans: Fixed rate better for short term

A falling rupee is bad news for the stock market and economy, as it indicates more outflows from the Indian market. But for investors in gold, mutual funds investing in US market and stocks of certain sectors like information technology and pharmaceuticals stand to gain from this situation.For example, when the Bombay Stock Exchange's Sensex witnessed the worst single-day fall in 16 months on December 16, the rupee fell sharply to 63.53 against dollar - a 13-month low.The declining currency, on the other hand, aided gold ETFs. They have gained the most with category average of around 1.11 per cent in the past fortnight, followed by international funds (category average 0.59 per cent), banking (category average of 0.45 per cent) and technology funds (0.01 per cent category average). Most equity funds in this period gave negative returns with CNX Nifty at -2.03 per cent and S&P BSE Sensex at -2.18 per cent.However, for certain instruments like gold, things can be completely different. Wh

Limit your exposure to dollar-linked instruments

Business Standard analyses one family's finances and suggests a way forward

Case study

Budget: Rs 30-Rs 50 lakhBusiness Standard brings you a snapshot of average current rates and unit sizes in localities that offer property in a price range of Rs 30-5o lakh. If you are looking at buying real estate and your budget falls within this range, an idea about prevailing rates would come in handy

Realty check

Today, Kuldip Kumar, Executive Director - Tax & Regulatory Practice at PwC, answers your questionsI missed the July 31 deadline to file my tax returns. When can I file now? You can file the return anytime before the end of two years from the end of the relevant financial year for which the return is due. For example, a return for the financial year 2013-14 can be filed by March 31, 2016.However, a penalty of Rs 5,000 may be levied where tax return is not filed within a period of one year from the end of the relevant financial year. Further, any taxes that remained unpaid would attract interest  until such taxes are paid.I might be deputed abroad by my employer for four to five months. Will I still need to file returns in India? An individual is required to file a return in India if his total income of a financial year exceeds the maximum amount not chargeable to income tax (Rs 2,50,000 for the financial year 2014-15). Accordingly, if your income during the relevant year exceeds the

Taxation: Kuldip Kumar

Kanoria Industries had purchased a Ford Ikon car, insured with National Insurance. In October 2005, the company changed its name to Bagalkot Udyog and the change was noted in the records of the registrar of companies. However, the change of name was not notified to the regional transport office (RTO).The vehicle met with an accident on December 24, 2006. A claim was lodged but National Insurance refused to honour it, as the vehicle stood in the name of Kanoria Industries. A representation to the insurer's grievance cell failed to yield a positive response.Bagalkot Udyog filed a complaint before the South Mumbai District Forum, claiming Rs 3,64,142 towards the loss caused on account of accident, Rs 21,045 towards parking charges levied by the garage where the car was sent for repairs, Rs 50,000 towards compensation and Rs 25,000 towards costs. The insurance company justified the repudiation, saying Bagalkot Udyog had no right to make a claim in respect of a vehicle in the name of Kanori

Consumer protection: What's in a name?

A govt with reformist intentions and friendly govts in major states can do a lot to encourage investments

The govt needs to intervene

Investment advisors say taking 20% of money off the table won't be a bad idea. However, continue with SIPs

Book some profit and wait

As the rupee has gained against the euro and other currencies, booking now will help get better packages

A trip to Europe will be cheaper this summer

Two case studies on how one can use the exemption method or the credit route

How to avoid double taxation

After college, I joined an entrepreneurial course that, among other things, required me to plan a project and give a report. I chose to research and give one on Laminated Plastic Collapsible Tubes. The idea was summarily rejected by the professor as being unviable. The reason: There were many rats in India and if toothpaste was stored in such tubes, the rats would chew these. Thus, it was inconceivable that aluminum tubes could ever be substituted with plastic tubes.Dejected, I shared my sad story with my mentor, Chandrakant Sampat, who concluded I was not fit to start an industry. His reason for stating this was very different, however.He agreed I understood businesses but contended there was a better way to participate without subjecting myself to the vagaries of raw material shortages, regulatory capriciousness and so on. Instead, I could choose to participate in a bouquet of businesses by investing in companies listed on the stock market. If ever the fortunes of the businesses chan

40 years ago...And now: Stock market investing - You can't sow today and reap tomorrow

However, in the case of unlisted firms or start-ups, it is a risk one is taking, as the valuations aren't known. Look at these only as additional benefits

Esops make a comeback

Despite banks' reluctance, it's possible for students of less reputed institutes to get these. Keep some basics in mind

Getting education loans despite tougher norms

Kondhwa in south Pune is one of the city's developed residential areas and a fast-growing suburb. One of the major attractions is its proximity to Camp, the established retail and commercial node within the cantonment area. It has established traditional shopping areas such as MG Road (high street shopping line of prominent brands, as well as local retailers), Moledina Road and East Street (dotted with eateries and small format retail stores). It also has quite a few office buildings and hotels such as Central Park, Sagar Plaza and Aurora Towers.As Kondhwa is linked to prominent activity magnets of the city by good road connectivity, this area and surrounding nodes such as Salunke Vihar, Lulla Nagar, NIBM Road and Mohammadawdi have emerged as prominent residential destinations for employees working in central areas such as Camp, Kalyaninagar and Hadapsar. Apart from the working population, this micromarket is also a favoured post-retirement residential destination for ex-servicemen. It

Good connectivity drawing end-users and investors

Kisan Vikas Patra (KVP) was re-launched with much fanfare by the finance ministry, with initial reports suggesting the minister promised these would be bearer instruments that could be purchased in cash. The unspoken implication was that it would be as convenient to buy as gold and, hence, become a go-to investment for the black money floating in the domestic economy.Opposition parties were quick to criticise the instrument, till it became clear that the relatively-relaxed Know Your Customer (KYC) norms were applicable only for investments up to Rs 50,000 and even for that, the only relaxation was that the Permanent Account Number (PAN) was not required but identity and address proof were, even for the minimum investment of Rs 1,000. It was a very different regulatory regime that had earlier allowed issuance of KVPs or Indira Vikas Patras for large cash investment without proper KYC requirement. Now, the government is bound by its obligations on anti-money laundering laws and might not

The lure of gold: Why Kisan Vikas Patra can't cure it

Price revision mechanism will have to be swift to tackle the difference between ethanol and crude oil

Sensitivities about sugar

Transparency and higher liquidity give Reits the edge in the long run

Page 47 - Investment