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Resolutions recorded on liquid surfaces! Having made an ardent promise to myself and my readers that I would henceforth cease to be a drop out and would spend time writing a blog a day, I have failed to keep my word.  It seems these resolutions...

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What is so addictive about blogging? I never did think that I would drop out of blogging.  Yet I have been so tardy with my posts that I am nearly a drop out! So, it is clearly a time to examine why did I start this blog in the first place...

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Laser Hair removal When cutting, waxing, and shaving is no longer desirable or feasible, some patients seek laser hair removal.  Most people have hair covering their bodies that is lightly colored and fine and therefore,...

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Gardenia If you receive a bouquet of Gardenias you can be sure that the sender thinks you symbolize purity and sweetness and they are telling you of their secret love for you. Since a gardenia plant or bouquet...

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Freelancer alert: Not an export code-A purpose code! While we have been busy speculating on what is an export code and what it takes to get one issued from DGFT, paypal has issued a clarification that it is not an "export code" but a purpose code which needs...

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May

05

2010

Resolutions recorded on liquid surfaces!

Posted by Samantha | Comments : Comments Off

Category : Communication, Creative writing, Freelancing, General, Information highway, News and society

Tags: , , , , , , , ,

Having made an ardent promise to myself and my readers that I would henceforth cease to be a drop out and would spend time writing a blog a day, I have failed to keep my word.  It seems these resolutions of mine get recorded on liquid surfaces that erase them the moment they are recorded.  Anyway, here is a post that I hope will interest my readers.

I am currently grappling with three different topics that interest me. One the literary theory of Saussure, Lacan, Barthes and others. I am doggedly reading the translations of the works of these writers even though I need multiple readings to make sense of them. Finally, I am getting a glimmer of what they are talking about and am getting immensely interested in what they have to say. I am also attempting to apply their theories to literary works!  A challenging and interesting task. Very intellectual!

I am also reading a wonderful novel by a Japanese writer in English called Kazuo Ishiguro called The Remains of the day.  The writer has wonderfully captured the essence of what “buttlership” (if you forgive my coining of this word) implies.  A copy of the novel is available online (in docstoc or is it scribd?–I am not sure). Truly relaxing!

I am also working out the nuances of contract law and bombarding myself with  topics like “invitation to treat”, “postal delay in contract law” and so on and so forth till I am getting a little cross eyed with the effort. Absolutely legal! Keeps my mind live and kicking.

Of course, I cannot complain that my life is drab and dull and lacks variety.  Will perhaps translate the results of all my efforts into little articles that may be of interest to you all?

Why do I do all this?  I like being an intellectual.  In fact I revel in it.  What comes out of it?  A lot of writing practice and of course a number of new creative ideas for books that I plan to write sometime in the future (only the future seems very dimly distant at the moment).   Some of the work may also find a way into literature journals and law journals and law journals.

May

01

2010

What is so addictive about blogging?

Posted by Samantha | Comments : Comments Off

Category : Communication, Creative writing, General, Information highway, News and society, social media

Tags: , , , , ,

I never did think that I would drop out of blogging.  Yet I have been so tardy with my posts that I am nearly a drop out! So, it is clearly a time to examine why did I start this blog in the first place and why have the posts fallen off?

I think I began to blog because I felt that I had a lot of information that I would like to share with others. I also felt that it would give me good writing practice as I am a writer by profession.  I was however, not very sure that anyone would want to read what I had to write.  Surprisingly, there are at least 60+ people out there who visit my blog and read it whether I have posted anything new or not.  Now I think I have another reason not become a drop out.  I have a readership who really find my blogs interesting enough to visit daily and read up. I owe something to them.

Blogging is generically very close to dairy writing. Of course you write your most secret thoughts in the diary and keep it under lock and key hoping no one else will get sight of the things you tell your diary about your fellowmen.  A blog on the other hand is an open diary. You write about everything that you are interested in and can be as democratic as you like about your readership.  Of course, you will not share your innermost thoughts and you secret cravings with your fellowmen? Yet, there is a satisfaction that there is someone out there who shares your interest and you feel joyful about reaching out to them.  I wonder what psychologists have to say about blogging?

To come to the meat of the question, I asked in the title–What is so addictive about blogging? The question follows: “Am I an addict?” Well No. I find that I can really live without blogging. It is not like diary writing. I am not searching for a confidant. I think I am reaching out to friends, like minded people who are interested in what I am interested in. One is not obssessed with one’s friends. It is just nice to have them around and have an occassional relaxing chat with them. I think my blogging fell off, because I am a healthy human being with a healthy work appetite. Sometimes I put work before friends and the need to reach out takes a back seat when work holds my attention.  Therefore, while I do not feel guilty about not continuing to blog, I do feel remorseful that I have not shared sometime with my 60 odd friends out there, who hang out at my blog hoping for a glimpse of me.

Perhaps, if I were depressed and unhappy, blogging could become a kind of addictive and I may end up blogging to myself or using my blog more as a diary than as a blog. Perhaps, I would find comfort in my readership and may even obssess about the number of people who visit my blog on a daily basis and worry if there is a drop in readership and so on…I hear people find pleasure in committing online suicide because the number of people who “like” you has changed or dropped or what not…. Even for them blogging is not an addiction–it seems more like a lifeline. They would drown if you prevent them from blogging. It is not merely a question of de-addicting them.

Business blogs are a whole new ball game. They are bloggers who are blogging for survival; to prove that they are better than their competition or just advertising as blogs attract readership. For them, blogging is a necessary adjunct to their business and not an addiction.

So, what is all this talk about addiction to blogging? I do not know. If you do know people who are addicted about their blogging do find out why and share it with us. Contact us using the contact form on http://www.consult4content.com and give us the meat on why someone finds blogging addictive.

Mar

10

2010

Tax Talk: House Property income–the Indian context

Posted by Samantha | Comments : (0)

Category : Money & Finance, News and society, Real Estate Investment, taxation

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Before actually launching into an explantion of House Property income and its calculation let me make the legal disclaimer.

All statements made in this blog post are personal views and readers are requested to treat them as such. For advice on your tax returns please contact a qualified chartered accountant.

Let us begin by stating the seemingly obvious:

Calculation of tax on Income from House Property is governed by the provisions of the Income tax act 1961 as modified by the latest Finance Act relevant to the financial year.

Well, that is a mouthful. But is it really obvious?  I am not sure it is obvious! There are several terms that are obscure! I have highlighted them below:

Calculation of tax on Income from House Property is governed by the provisions of the Income tax act 1961 as modified by the latest Finance Act relevant to the financial year.

Tax: The amount of tax payable on this type of income is defined in the Finance act relevant to the financial year.

Income: Income or notional income from house property referred to here is the net income and not the gross income.

Finance act: This is the act that is passed every year in the parliament modifying the Income tax act 1961 to take into account the changing economic realities.

Financial year: the year beginning on 1st April of one year and ending on 31st march of the following year.

House Property: Any building or building with land appertuenent thereto that is owned by a taxable entity and from which he derives an income or notional income. Such a building can be self occupied property, let out property, deemed to be let out property or partly let out property.

Exception:Income from house property can become business income under certain circumstances. If an assessee uses a house property he owns for business or profession, then the income generated by this house comes under the income from business and not under the head income form house property. The case may be different if the Direct Tax code is passed in toto.

Did that bring clarity? No. There are several new terms that need elucidation!

Notional Income: Income that may be derived had the property been let out. Currently, this is generally taken to be ‘Nil’ if the property is self occupied.  It will have a value if the Direct tax code is implemented next year in toto.

Gross income: Total receipts by way of rent for use of property and amenities.

Net income: This is total receipts from house property minus any expenses that may be incurred by the owner by way of payment for repairs, taxes and other charges on the house property.

Building or building with land appertunent thereto: Land by itself is not defined as House property and there is no tax on income from land. However, if there is a building on the land and the building is let out or self occupied along with the land, then the total receipts from the property will be taxable under the head house property income as income from property.

Ownership: Income from house property is paid by the assessees’ who own house.

Ok, so we have the definitions and terms explained! What about an example of the calculation?  Stay tuned in. Our next blog post will do just that!

Feb

27

2010

Freelancer Alert: Export Code(IEC)

Posted by Samantha | Comments : (6)

Category : Business, Freelance content, Freelancing, Information Technology, Money & Finance, News and society

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The email from Paypal has elicited a mixed response. Many are happy to see the light at the end of the tunnel but are puzzled by the rider that everyone would have to enter an Export code before they are permitted to withdraw the funds to their bank account.  I see many blog posts which ask “What the hell is Export code?” So this information may be useful for you.

The Foreign Trade(Development and Regulation) Act 1992 stipulates that every exporter or importer of goods and services must apply for and obtain an Importer-Exporter Number(IEC Number).  The application for obtaining this number needs to be made under section seven of this act to the Director General. Under this act an importer is anyone who brings in goods or services into the country and an exporter is one who sends out goods and services via land, sea or air. However, the term “goods” is not defined in the act itself and the meaning is derived from the dictionary meaning of the word or from the Import-Export regulation act of 1947 which preceded the current act. As per this act “goods” is defined as any “article, animal, substance or property whatsoever”.

There has been a lot of controversy whether sending of digital material over the Internet would qualify as “goods” or “services” and whether the process of transmitting the information over the Internet falls within the ambit of sending out of India goods or services “by land, sea or air”.  Since the issue was unclear, freelancers were not asked to apply and obtain the IEC number under section 7.

However, there was a move to include services into the ambit of the act from time to time. Objections from the Finance Ministry kept the amendment at bay for some time.  The Standing Committee on Commerce made suggestions on Foreign Trade (Development and Regulation) Amendment Bill, 2009 which included a suggestion to bring “Techonology” and “services” including “financial services” under the ambit of the act.  The bill was  submitted on the 25th of November 2009 to effect the following amendments.

2(a) (ii) Supplying Service or Technology from the territory of India to another country; from India to a service consumer in another country; by a service supplier in India through a commercial presence in another country; through a service supplier in India, through Indian naturals in the territory of another country.

Elaborate definitions of service and technology have also been included in the act. You can get more information at http://164.100.47.5/newcommittee/press_release/bill/Committee%20on%20Commerce/Foreign%20Trade%20%28Development%20and%20Regulation%29%20Bill,%2020090001.pdf .  The net result of this amendment would be that all freelancers who supply software or other kinds of services to consumers abroad must apply for and obtain a IEC number.

I am unable to ascertain whether the bill has been passed or is still pending. If it has been passed, freelancers should get ready to apply for the IEC number! Stay tuned in for more information!

Feb

16

2010

The Pyramids of Egypt

Posted by Samantha | Comments : (3)

Category : News and society, Travel content

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With Egypt unveiling a new logo for its pyramids and for tourist promotion, it may be a good idea to talk a little bit about the Pyramids of Egypt…..

The pyramids of Egypt were constructed by the 3rd to the 6th Dynasties. They lie scattered along the western side of Nile stretching to the south of the apex of the Delta.

The pyramids, today, stand isolated against the backdrop of the Egyptian deserts. At the time of their construction, these pyramids were part of a complex of buildings that were surrounded by a walled enclosure.  The temple was normally located on the east of the pyramid and was dedicated to the worship of the dead.  There was also a raised and enclosed causeway on this side, leading to the western edge of the cultivation. Near this was the ‘Valley Building’ in which the embalmment of the bodies was carried out and interment rites performed.  A canal connected the ‘Valley building’ to the Nile.

The ancient Egyptians designed shape of the pyramid to represent the primordial mound from which the earth was created. The shape is also believed to represent the descending rays of the sun. The names of the pyramids also referred to solar luminescence.  They were highly polished to reflect the rays of the sun and give them a brilliant appearance. One of the narrow shafts from the burial chamber within the pyramid extends to the centre of the pyramid that point to the sky suggesting that the pyramid was conceived of as a means of magically launching the deceased pharaoh’s soul into the abode of the gods.  The West (the side on which the pyramids are built) also has mythological associations with the land of the dead.

The early pyramids were architecturally similar to Mastabas.  The step pyramid of Pharaoh Zoser at Sakkara is an example of the intermediary stage of evolution of the pyramid from mastabas. One of the pyramids at Meydum and two at Dahshur by Seneferu(bent pyramid) can also be cited as examples of the evolving architecture of the pyramids. The finest examples of true pyramid architecture can be seen in the famous three pyramids of Giza built by the fourth dynasty successors of Seneferu.

The construction of pyramids involved a lot of labor and materials. Each pyramid was a lifetime project of the Pharaoh.  The pyramids were built on living rocks which were first levelled and built upon.  The limestone rocks, of which the pyramids were built, were brought from the quarries.  The outer face of the pyramid was built with limestone quarried locally, while the inner face was built with limestone from Tura (on the eastern side of Nile). Some amount of granite has been used for linings of the chambers and passages.  This granite was brought from Aswan.  The tomb chambers and their approaches were cut into the rock below or were constructed in the core of the pyramid.  The entrances to the pyramid were normally in the northern side of the pyramid. The sides of the pyramid were scrupulously oriented with cardinal points.

The structure of the pyramid involved building a series of concentric sloping slices or layers around a steep pyramidical core. During construction the pyramid appeared to be a mass of step like tiers that were later filled in to give it the finished smooth steep look with its specific angle of inclination. The steps were filled in with packing blocks and brought with finely finished facings.  The finishing was done from top to the bottom and the apex stone was sometimes gilded.

Interestingly, the Egyptian construction tools were very primitive.   They had no knowledge of the pulley and their principal tool for raising the stone blocks was the lever.  Wooden sledges with or without wheels were used to transport the blocks to the construction site. Broad topped, sloping sand ramps reinforced with crude brick walls were built on the pyramid and the blocks were dragged up these ramps of sand and bricks.

There are as many as hundred pyramids scattered along the western side of the Nile. Many of them have been rifled and pilfered in the chaos that followed the 6th dynasty.  They have also been the target for tomb robbers over the years. A few pyramids have been well preserved and are great tourist attractions today.

Feb

15

2010

Journeys on record: What to see when you visit Kurukshetra

Posted by Samantha | Comments : (1)

Category : Content Marketing, General, Information highway, News and society, Travel content

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History lovers, tourists and temple goers will find Kurkshetra a wonderful place to visit. This historical site can be reached by road(National Highway1)  from New Delhi(160 Km); Chandigarh(90 Km); North Karnal(39 Km) and South Ambala(40 Km). The railway station at Kurukshetra is called Kurukshetra Junction.

A two day visit with one night stay at Kurukshetra is recommended.  Popular hotels for overnight stay at Kurukshetra are: Saffron, Heritage, Neelkanth Yatri Niwas and Parakeet hotel. There are also a number of guest houses and Dharmashalas that accomodate travelers to this historic city.

Places of Tourist Interest

Sheikh Chehli’s Tomb is a beautiful tomb constructed by Dara Shikoh(1650 AD), the eldest son of Shah Jahan the Moghul Emperor, for the sufi saint Abd-ur-rahim or Sheikh Chehli. The tomb is constructed over an artificial terrance and is octogonal with a south facing entrance. It is built of buff sandstone and crowned by a pear shaped dome of marble with a high circular drum.  A smaller tomb with beautiful floral carvings dedicated to the wife of Sheikh Chehli can be found near the west entrance.  The whole overlooks a Madrasa which has a nine arched opening on each side of the central courtyard. It has been declared a monument of National importance.

The Kurukshetra Panorama and Science center is located near the Sri Krishna Museum in Kurukshetra. It is a two storeyed building that exhibits Indian heritage science and technology. Ancient Indian concepts of properties of matter, structure of the atom, geometry, mathematical rules, astronomy, medicine and surgery are on display.  The highlight of the museum is the life like panorama of the historical battle of Kurukshetra with 34 feet high paintings of the episodes from the war between the Pandavas and Kauravas.  The sound and light that accompany the scene along with the background Gita Chanting create an illusion of reality. A science park has been set up in the grounds with busts of all the greatest scientists of India.

The Krishna museum exhibits the collection of archelogical material from 5000 years of Indian History. Effort has been made to sequence the material culture from the Kurukshetra war pre epic, epic and post epic periods. There is no effort to establish the historicity of the war, only to display the archeological findings pertaining to the different periods. The museum has six galleries and a rich heritage of art and sculpture is housed in these galleries. A whole day can be spent examining these exquisite pieces of history and art!

Kalpana Chawla Memorial Planetarium was built to impart non formal education in Astronomy. A number of excellent programs with high tech digital and optomechanical systems are conducted in this building.  Science and technology exhibits, astronomy shows and the astro park are highlights of this spot.

Gulzarilal Nanda Institute of National Integration and Peace is a personalia museum built in honor of the erstwhile Governor of the State who did much to improve and preserve the historical and places of tourist importance in Kurukshetra.  The musuem highlights his career, spiritual beliefs and his services for Kurukshetra.

Brahmasarovar is a beautiful tank with a temple dedicated to Shiva in the center of the tank. This spot is believed to be the location at which Brahma begins his act of creation after the great Pralaya that destroys the world. A number of bathing ghats named after the characters of the Mahabarath can be found round this tank.  The waters of this tank are considered sacred and pilgrims visit this tank in large numbers during the Solar eclipse and on New moon day to take a dip in the holy waters.

The Sannihit Sarovar in Kurukshetra is said to be the confluence of seven sacred saraswatis. A large number of pilgrims visit this tank on New Moon day to absolve themselves of sins.  Adjacent to this tank are the temples dedicated to Dhruv Narain, Lord Vishnu, Laxmi Narayan, Lord Hanuman and Mother Goddess Durga.

Places of Historical Importance

Kurukshetra is replete with history.  The site has been the cradle of Indian civilization for more than 5000 years. A number of archelogical sites have been excavated and the findings from these sites are housed in the different museums located across the city including the Krishna museum.

The Archeological site museum and Harsha’s Palace are located behind the Tomb of Sheikh Chehli. The museum houses the archeological findings at the excavation site of the Palace of Harsha, the King of Thanesar.  The Archeological Survey of India has unearthed from the mound, stone and terracotta sculptures, coins, ornaments, ritualistic objects. The exhibition also has on display the schematic plan and its findings and architectural buildings that have been exposed during the excavation.  The mound itself is located close to the  museum and the contours of the palace are very visible. The settlement pattern, the architectural style, religious life and artistic endeavor are visible to tourists.

Jyotisar is the most revered historical location in Kurukshetra. It is believed that Krishna elucidated the Gita to Arjuna at this spot. While the historical truth of this assertion is not proved, tradition has it that the message was delivered under a holy banyan tree at this spot. Jyotisar lies 5 km from Kurukshetra on the Kurushetra Peshowa road.  The banyan currently found on the spot is said to be an offshoot of the original banyan that existed at the time of the discourse. The site has a beautiful marble statue of Krishna and Arjuna on a chariot.  A sound and light show on the theme of Bhagawat Gita is mounted by the ITDC as part of the tourist promotion of Kurushetra here.

Close to Jyotisar, infact at the entrance to the location, stands an ancient Shiva temple between the trunks of two trees. The temple is said to date back to the Kurushetra war.

Temples in Kurukshetra

The Staneshwar Mahadev temple is a temple dedicated to Lord Shiva, the Hindu God of destruction. It is said that the Pandavas visited this temple before the battle of Mahabarat to receive the blessings of Lord Shiva. The waters of the tank adjoining the temple is said to have cured Kind “Ben” of leprosy.  A pilgrimage to Kurukshetra is complete only when the pilgrim takes a holy dip in this tank.   The temple is constructed in the regional style and has a domical roof and the facade of this dome has the shape of an “amla” or gooseberry with a tall pinacle.  The sanctum sanctorum houses a Lingam in the traditional style.

The Bhadrakali temple is a temple dedicated to Shakti, the consort of Lord Shiva. It is one of the fifty one Shaki peetas or seat of power of the Goddess.  The right ankle of Shakti is idolized in this temple.  A large number of devotees congregate in this temple to worship the Godress. Local legend has it that Krishna and Balarama had their “Mundan” ceremony or the removal of first growth of hair was conducted in this temple. It is also believed that the Pandavas visited this temple to pray to the Goddess for victory in the Kurukshetra war.  Worshippers offer terracotta horses to the diety when their prayers are answered by the Goddess.

The Kalmaki temple is also dedicated to Bhadrakali. This temple is associated with Tantricism and is said to have existed even in the sixth and seventh centuries AD at the current location.  The style of the temple, however, is 19th century.  The brickwork is in Lakhori style and is double storied. The style of the sanctum santrum is offbeat with the sanctum juxtapositioned to form a single structure bearing a composite domical and vaulted roof styles.  Four domical spires are located around the central domical spise.  The entrance to the temple has a vaulted alcove design.  Beautiful murals decorate the sanctum interior and the octogonal wall below the inner dome and square chamber of the sanctum.

Bhishma Kund or Narkatari tank is located about a mile and half from Thanesar on Kurushetra Pehowa road. The legend says that Bhishma, the elder of the Pandava and Kuru clan gave up his life voluntarily at this spot. It is believed that the waters of the tank were summoned forth by Arjuna to quench the thirst of Bhishma. There is a temple dedicated to Bhishma on this spot adjacent to the tank.

If you have liked this post, please do leave your comments. If you are looking for similar kind of content, please visit my website http://www.consult4content.com and leave me an order for content.

Feb

12

2010

Valentine’s day: facts and trivia

Posted by Samantha | Comments : (1)

Category : News and society

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Did you know that Valentine’s day was first celebrated by the Romans as the festival of Juno on 14th February? During the festival the names of Roman girls were entered on slips of paper and placed in jars. Young men who drew the name of a girl from the jar became her partner for the duration of the festival.  In some instances the partnership was extended to a year and often the partners fell in love and later married.  Claudius II cancelled this practice and forbade all marriages in the Roman Empire. So, love and marriage went underground with Saint Valentine helping young men and women marry.  He was later beaten to death for his kindness to the youth of Rome.

Pope Gelasius I established the Valentine’s day by declaring the 14th of February AD 496 as the memorial day for Saint Valentine.  In the middle ages the character of the celebration once more assumed the garb of the Juno festival and came to be associated with romantic love.  Geoffrey Chaucer and his circle of friends had much to do with the tranformation.   So if you celebrate Valentines day, you are part of a tradition that goes back several centuries.

There are several customs and beliefs associated with Valentine’s day.  Here are a few you may like to know about:

  • Men presented their beloved with a wooden love spoon. Keys, keyholes or hearts were carved on these spoons to tell them “you unlock my heart”
  • In the middle ages, young men wore the name of their beloved on their sleeve to tell the world what they felt abou the girl. The phrase to “wear the heart on the sleeve” originated with this practice.
  • In some countries young men presented their girl with an article of clothing. If she kept the cloth, it was considered to be a promise to marry.
  • Women in the middle ages looked skyward to find out what kind of men they would marry. If they saw a robin, it was believed that the husband would be a sailor; if she saw a sparrow, she would marry a poor man and if she saw a goldfinch, she would marry a rich man.
  • Women twisted the stem of an apple reciting the names of the boys they might marry. The boy whose name is recited when the stem comes off was believed to be the person the girl would marry.
  • X was written on paper as a symbol for a kiss.

Interesting facts about Valentine’s day

  • Esther Howland produced the first commercial for American Valentines in 1840.  She sold $5000 worth of cards during the first year of her business.
  • The Valentine industry is a booming industry. More than 1 billion valentine cards are sold every year in America each year.
  • Chocolates and flowers are sold in large quantities. The sales figures for these are only slightly lower than that for cards.
  • About 85% of the Valentines are purchased by women.
  • Teachers receive the most Valentine’s Day cards, followed by children, mothers, wives, and then, sweethearts. Children between ages 6 to 10 exchange more than 650 million Valentine’s cards with teachers, classmates, and family members.

Happy Valentine’s day!

Feb

11

2010

Tax Talk: Income from house property

Posted by Samantha | Comments : (3)

Category : General, Information highway, Money & Finance, News and society, taxation

Tags: , , , , , , , , , , , ,

“House building” is an economic activity that is hugely encouraged in most tax legislations.  Governments want people to build houses and promote the development of localities and contribute to overall economic growth.  So, people who invest in house property are given a number of incentives to do so.  They are given a number of tax breaks that are not available to persons who earn income under other heads of income as defined in the tax legislation of the country.

However, it should be noted that income from every type of house property is not treated on the same footing in all countries, for a variety of reasons. Depending on the scope of encouragement to be given to house building activity, the  income tax benefits available on the  first property owned by a person may be different from the income tax benefits available on  the second property owned by the same person.

It follows that income tax benefits available on properties owned by the individual in countries other than the country of residence, may also be different. The tax on income from such properties may be computed with reference to any tax treaties that may have been entered into by the parent country with the country in which the property yeilding income is located.

Having said this, let us go on to examine what is commonly understood as income from house property.

Income from House Property, also referred to as rental income, is any payment you receive for the use or occupation of your property (referred to as Lessee or owner) by another (referred to as lesor or tenant).

Broadly, Income tax legislations the world over define income from house property as any or all of the following:

  • Periodic payments by the tenant for use of property fully or partially
  • Notional rental value of property that is intended for self occupation
  • Payments by tenants towards amenities provided with the property
  • Any amounts paid by tenant to cancel a lease
  • Any expenses paid by the tenant on your behalf
  • A security deposit that is intended to be adjusted against unpaid rent or final payment of rent
  • Any security deposit that is adjusted because tenant does not comply with the terms of the lease

The type of accounting system you adopt will also make a difference to the amount of income from house property you report under the tax legislation. So most tax legislations recognize two types of accounting proceeduces as legitimate–cash system or accrual system.  A cash system of accounting implies that you account for the rent only when you receive the cash. Under the accrual system you will include all rent that is due to you and not necessarily received.

However, the entire amount you receive from your tenant is not taxable.  The income at the point of receipt is “gross rent”.  The actual taxable rent could be far less than what you have received from your tenant in the course of the accounting year. Why? All tax legislations allow legitimate and reasonable expenses that may be incurred by an individual in collecting the rent or maintaining the property in a rentable condition. The rent arrived at after deducting expenses is the “Net taxable rental income”.

Deductible expenses on gross rental income could include:

  • Expenses on upkeep of the property
  • Finding a tenant to occupy the property
  • Expenses incurred for collection of rental
  • Expenses incurred for payment of property tax and
  • Other taxes/charges on property.

A few tax legislations may also allow you some deductions such as:

  • interest that is paid on loans taken by you for the purchase of property;
  • vaccancy allowance for the period when the property remains untenanted or
  • loss of income you have appropriated the property for personal use during a part of the financial year.

A few legislations allow a standard deduction on income from house property in place of deductions for various expenses. Other legislations may allow depreciation on house property income.  You must compute your house property income in accordance with the definition of house property income that is enshrined in the legislation of your country of residence and deduct expenses that are allowable under that legislation.

The total income from house property can be a loss if the expenses on property exceeds the gross income from property. This may or may not be set off against income from other heads as defined in the tax legislation of the country.

[Subsequent tax talk posts will be devoted to "How to compute house property Income" under different tax legislations. So stay with us and we hope this information will be useful to you for the tax filing season in your country!]

Feb

10

2010

Balding? Hair restoration options

Posted by Samantha | Comments : (1)

Category : Health and Exercise, Medical content, News and society

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Men and women concerned about thinning hair may explore and choose the option of hair restoration by transplant.  Some may recall obsolete methods that looked unnatural, but may be comfortable with modern improvements that are basically undetectable to others.  A dermatologist is to be consulted in  the first place. The patient should provide him with his medical history and also details about expectations from the treatment.  The dermatologist must be informed of all medications the patient takes, including prescription, over the counter, and herbal supplements.  Blood tests may be suggested . This consultation will help establish candidacy for the procedure.

Certain medications may have to be stopped and antibiotics begun before the  commencement of the procedure. Patients will also be asked to avoid alcohol during the course of treatment.

Patients will be required to shampoo the night before the hair transplant  is performed in the dermatologist’s office or a hair transplant center.  The dermatologist will remove a strip of scalp from the back of the head that has good growth under local anesthesia. This is called a “prep strip”.  The prepped strip will  be divided into sections for suturing onto thinning or bald areas of the head.  Prepped slivers are carefully divided by technicians into grafts containing up to three hair follicles.  The procedure itself may last from 5 to 10 hours depending on the level of hair loss and transplant.  For optimum results, other restorative procedures such as scalp reduction or expansion may be combined with the transplant.  Often only one restoration treatment is required to produce satisfactory results.  If patients require additional restoration, it will be scheduled 6 to 12 months later.

Patients must take care to follow instructions for post-restoration recovery.  Instructions are normally given to prevent infection and minimize soreness that is inherent in the procedure.  Since it takes about five days for the hair to attach to the new area, patients must apply medication  carefully as directed.  Rubbing can cause the restored hair to fall out.  If scabs develop post restoration,  they must be left alone.  They generally heal in two weeks or less. Patients must wait a week to ten days to resume normal activities such as exercise to help prevent restored hair from falling out.

Though hair transplant is relatively safe and effective, it is not completely without risk of complication.  Follicle damage or other factors may produce poor or slow growth to the affected area.  Infection, scarring, or hyperpigmentation may occur.  Patients must keep their hair covered and protected from the sun for at least one month following the transplant to encourage ideal healing.

Feb

09

2010

Tax talk: Property tax

Posted by Samantha | Comments : (0)

Category : Money & Finance, News and society, Real Estate Investment, taxation

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Property tax in most countries is an ad valorem tax or a tax on the value of property.  Property is often defined as immovable property such as land; improvements to land such buildings and other man made objects and movable property of a personal kind (Jewellery) for the purposes of this tax. Real estate, real property and realty are terms used to reference land and improvements to land.  The taxing authority performs an appraisal of monetary value of property and imposes a tax that is expressed as a percentage on the value of the property. It is imposed by the governmental authority in whose jurisdiction the property lies.  Property tax is distinct from tax on ”property income’ in so far as the latter refers to rentals derived from property and the former refers to tax on the intrinsic value of the property.

In Australia property tax is known as property or land rates. The frequency of payment is determined by local councils who use land valuers to determine land worth. The land value does not include value of any buildings that may be erected on the land or any other improvements that are made to the land. Quarterly payments of land rates are common across Australian councils.  Land owners are also expected to pay water rates in addition to land rates.

In Canada property tax is linked with land use. The current use of the property plus the value of the land will be considered for the purposes of taxation. The tax is levied by muncipal governments and the valuation criteria is laid down by provincial legislation.  Normally market value is adopted for valuation purposes in most provinces. However, there may reevaluation cycles for refixing the value over a period of time.

In Hong Kong property tax is not an ad valorem tax. It is a kind of income tax.  Property owners who receive rentals are said to have received a “consideration” and hence the property is subject to tax for the year of assessment. The net assessable value of the property is computed at 80% of its assessable value multiplied by the property tax at a standard rate less any bad debts and rates paid by owner.

In India property tax resembles the US wealth tax. The property tax is a tax on buildings along with appurtenant land. The power to tax vests with the State Government and is implemented by the local authorities within whose jurisdiction the property exists. The tax base is an annual rateable value or area based rating. Owner occupied properties are assessed differently from rented properties. Commercial properties have yet another rate. Vacant land is exempt from tax and government properties are not taxable.  A number of related taxes are also imposed such as water tax, service tax, drainage tax, conservancy tax, lighting tax using the same tax base.  The rate structure is rather flat in rural areas and mildly progressive in urban areas.  Personal property in India is taxed under the Wealth tax act and is a central government levy on personal property.

In UK there is currently no ad valorem tax on property as on date.

Property tax in the USA is levied by the local government at the municipal or county level.  Assessment consists of two components–the improvements to land and the land itself.  A few states also tax personal property.

The assessment of property for tax levy in the USA is done by a tax assessor.  The appraiser takes into consideration the selling price of similar properties in the area or the income derived from the property or replacement cost of the property to arrive at the value of the property.  Assessment may be at 100% of the value or at a lesser rate taking into consideration other relevant factors.  Tax is then collected as a percentage of the value.

Additionally some states may impose a non ad valorem tax on property that is known as special assessments. Street lighting and storm sewer control facilities may be taxed under a fixed rate from property owners regardless of the value of the property they own in the area.

Personal property tax in the USA is a tax on the value of movable property owned by the individual. These include vehicles owned, durable goods such as works of art, business inventory and intangible assets such as stocks and bonds.  This tax can be imposed theoretically by any level of the Government but is practically imposed by the States.

Levy of property tax is often regarded as a regressive step by taxation gurus. It is believed that incorrect implementation of property tax can lead to a huge burden on property owners who have accumulated property but yield from property is low.  Others argue that property tax is a progressive levy because most property round the world is owned by corporations and not individuals.  However, it is to be acknowledged that the progressive or regressive nature of the tax will be determined by the prevailing environment of property ownership within the country and the play of market forces within a given locality.

Feb

09

2010

Are you still watching the fallout?

Posted by Samantha | Comments : (0)

Category : Business, General, Money & Finance, News and society

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The sub prime bubble burst three years ago. If you are among those who are still fearfully watching the fallout know that others have learnt their lessons and have moved on.  Remember smooth seas do not make skillful sailors. ‘

In fact, the downturn threw into sharp relief all those things you should have been doing (but never did) even when there was no downturn to scare you silly. A few learnings of industries over the last two years have been summarized below:

  • Tweak your business model but don’t cut down on marketing innovation
  • Stay with your long term goals
  • Exploit your strengths
  • Keep a tight rein on costs by running your business efficiently–keep positive cash flows
  • Do not push profits at the cost of stability
  • Invest in a few strategic things that will help you maintain your balance in differing environments
  • Never expand in a fractured market using debt
  • Treat employees as partners  in your success at all times
  • Network with your customers constantly–your business depends on them
  • Advertise your products aggressively all the time
  • Keep watch on your competition and their product strategies but do not imitate them-learn from their mistake

Maybe we should say with John Heywood:

“If you will call your troubles experiences, and remember that every experience develops some latent force within you, you will grow vigorous and happy, however adverse your circumstances may seem to be.”

John Heywood quotes (English Playwright and Poet, 1497-1580)

Feb

05

2010

Meditation: Active or passive state?

Posted by Samantha | Comments : (2)

Category : General, Health and Exercise, Medical content, News and society

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Is Meditation an active or passive state? Anyone who observes the meditator would say “passive”. All the meditator seems to do is sit still, doing nothing.

There are many arguments in support of meditation being an active state!  They would point out that you can actually burn calories by doing meditation. Visit http://www.livestrong.com/thedailyplate/fitness/exercise/meditating/ and you will be told that meditation helps you burn 66 calories per hour for an average person–average being a person who weight 145 pounds.  http://caloriecount.about.com/calories-burned-light-meditating-a148 says that you can burn 70 calories  per hour if you weigh 150 pounds by doing light meditation.

You may then,  turn round to argue that even people who are sleeping burn calories. Of course, you do that in the assumption that sleep is not an active state! Well, it must again be pointed out that the active or passive state of sleep is itself in question.  However, studies show that you burn 60-72 calories an hour(per 150 lbs weight) during sleep. So sleep too is an active state for the purposes of our thesis.

Of course, we do not have to believe all this. We can look to scientific proof. Siebert, Gessner and Klasser who studied the energy consumed by the central nervous system when a person sits down to do some deep thinking reveals that the brain burns 230-270 calories an hour. {Energy supply of the central nervous system.PMID: 3516137 [PubMed - indexed for MEDLINE] Bibl Nutr Dieta. 1986;(38):1-26.].

While this is not much when compared to calorie loss during exercise, it is certainly a large amount for a small organ accounts for such a small part of the body weight! Also, it is a clear indication that “thinking” is activity that burns calories. It follows, that meditation which is a kind of focused and concentrated thinking, is an active physical state and not a passive one.

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Feb

04

2010

1000-calorie diets

Posted by Samantha | Comments : (3)

Category : Health and Exercise, Medical content, News and society

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1000 calorie diets are recommended for those who want to lose weight.  This diet drastically reduces the calorie intake, but does not insist on any additional exercise or physical activity.  The logic is that a person who wants to reduce weight can continue doing the same level of activity with lower levels of calorie intake and the normal calorie burn up would take care of the excess weight over a period of time. 1000 calorie diets are short term diets that are to be undertaken for a period of ten days at a time under medical supervision. .

1000 calorie diets do not take into account the body weight, or calorie requirements of the individual.  A person who requires 1200 calories and a person who requires 2200 calories for his daily activity are treated on par. Both individuals are to consume only 1000 calories per day for the duration of the diet.

An average person loses around one pound for every three thousand five hundred calories cut down.  If you are cutting down the calories at the rate of 1200 calories a day, you will lose one pound in three days.

This diet also implies that you need to drastically change your eating habits for the duration of the diet. The diet recommends smaller meals that are eaten more frequently.  It cuts down on fats, sugar and lowers the consumption of carbohydrates.  Alcohol is to be avoided and diet soda and black coffee can be taken with limitations.

The calorie focus can rob the diet of interest.  If you are foodie, it is very easy to give up counting calories and abandoning the diet in frustration.  If you are an active person, you will find that the low calorie diet is depriving you energy.

Moreover, after the diet is complete, it is difficult to maintain the calorie levels at the 1000 calories.   The tendency is to revert back to the original levels. This will bring the weight back to the original level.

While there are many disadvantages of a low calorie diet, it is an effective way of kick starting a long term diet plan.

Feb

03

2010

iPad: A Review

Posted by Samantha | Comments : (1)

Category : Communication, News and society, Product Reviews

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Everyone has been excited about the iPad release by Apple.  What has excited them so much? How is this product going to make a difference to our lives?  Here is a product review that you may like to read!

iPad, like iPhone is not physically magical. It has its own beauty but nothing that would have you crooning over its dimensions or curvatures.  However, it is a well built device with a rigid glass display with an inch of bezel around the display.  The home button of the iPhone is there and so is the high capacity multi touch panel.  It is LED backlit with In-Plane Switching display that provides a wonderful viewing angle.  The back is aluminum and there are connectors for power, sleep and volume control.

Doesn’t sound like much does it? Well, described as I have done, the iPad does not sound like anything much. However, inside the iPad is the “A4” Apple designed chip that runs on 1GHz and manages everything—processing, graphics and I/O.  The device has a 16 – 64 GB of memory, Bluetooth and EDR wireless connectivity.  There is an inbuilt speaker and microphone; accelerometers, ambient light sensors and digital compass with assisted GPS technology.  The device can be attached to a computer using  the 30 pin connector that is available. Wireless access of upto 3 Mbps is made possible with Enhanced Data Rate technology and Bluetooth.  The powerful battery gives 10 hours of usage and a month of standby time.

If you are “Wowing” now, hold on! We are not at the end of the list. Apple has not ignored 3G connectivity.  The 802.11a/b/g/n Wi-fi options, taps directly into UMTS/HSDPA and GSM/EDGE 3G wireless networks,. The best part of the deal is that it is not locked and not bound by any contract. You can get it to work if your wireless carrier uses a GSM micro SIM.

On the flip side, ­­you cannot make phone calls with this device. There is no internal camera (you can add it as an external device). The software also seems to have limited multitasking features.  Flash plug-ins are not supported.

The  price ranges between $499-$699.

Recommendation: May be wise to check RSS feeds for information before you check your bank account for balance.

Feb

01

2010

Should you care about RSS feeds?

Posted by Samantha | Comments : (1)

Category : Communication, Content Marketing, General, Information highway, News and society, Self help, Types of content

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There is a clickable legend on the sidebar of my blog which says Entries RSS . What is that? Should you care?

RSS stands for Rich Site Summary. This is a format that delivers regularly changing web content to subscribers automatically. News related sites, weblogs and other online publishers find this tool very useful for delivering their content to their readers via the RSS feed.

What is there in it for you? RSS feeds can solve a problem for you if you regularly follow my blog. You will be automatically informed the moment I put in new content. This will save you the trouble of visiting my site everytime and will also ensure your privacy–you do not have to join the site’s email newsletter or register with the site. This technology is becoming very popular as more and more sites are offering you RSS feeds.

What do you need for reading a RSS feed? There are several feed readers that can be downloaded and used to read the feed. But, what happens if you subscribe to RSS feeds in more than one site? There are News aggregator software that allow you to grab the RSS feed from various sites and display them for you.  A few examples of feed readers are: Amphetadesk (Windows, Linux, Mac), FeedReader (Windows), and NewsGator (Windows – integrates with Outlook). Web based feed readers include:My Yahoo, Bloglines, and Google Reader.

Once you have your feedreader installed, all you need to do is to add the RSS feed of the sites you are interested in to the list of feeds in the feed reader. The feed reader then automatically checks the sites for new content and displays them on your reader for you.

So, if you are interested in subscribing to the RSS feed on this site, click on the link and keep up with my posts!

Jan

30

2010

Is your child a genius? Don’t let him become an idiot

Posted by Samantha | Comments : (1)

Category : Communication, Content Marketing, News and society, Self help

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Every child is born a genius and made to grow into an idiot.  I am not saying anything new. I am just reiterating a fact that all of us are aware of but refuse to acknowledge.

Have you ever seen a child who has not learnt to walk or talk on his own (except if they are challenged)? Have you ever found a child who is not curious about things and willing to learn? So, if curiousity and willingness to learn are the foundations of learning, why does the child not turn into a genius?

The truth is that the child is really a genius but academic genius is the only kind of genius that is recognized in the educational system today.  There are  musical geniuses, business geniuses and sports geniuses in the school system.  They are all stifled and regimented into enhancing mental skills. Their natural insincts are suppressed till they are no longer aware of their native genius.  If they shine and blossom forth into geniuses in business, sport or arts, they are exceptions rather than a rule.  These are qualities that are not evaluated in the education system and found to be extraordinary.

Recall, how often we have been told that not everyone can aspire to become a musical genius or a business genius or a sports genius?

How is academic genius defined?  By evaluating IQ.  What is IQ?  It is Intelligence quotient. How is that arrived at? By dividing the mental age by the chronological age and multiplying the product with 100. It follows that if you want to continue to be a genius, you need to continuously learn and maintain your mental age at a level that is higher than your choronological age. In other words you need to maintain a disparity between your mental and physical skills.

Boy! does that sound tiring? I rather not be a genius if that is the criteria! To me, learning is all about understanding ones own peculiar capacity for learning and applying that knowledge effectively.  It is all about being free from fear of making mistakes or sliding down a scale of perfection.  It is about doing that which your natural inclination drives you to do and doing it well.

So, do not force your child to grow into an idiot by insisting that there is only one kind of genius he can be–an academic genius.  Allow him to realize his potential and grow into the genius he is destined to be.

Jan

30

2010

How much more punishment do you want to take?

Posted by Samantha | Comments : (0)

Category : Content Marketing, Money & Finance, News and society, Self help

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All those who save money are punished. How much more punishment do you want to take?

The sad truth is that those who save money and husband it in fixed deposits get nothing for their pains. The small interest that is derived from the deposit is sliced through by taxes and the balance is swallowed up by inflation.  The money in the deposit does not grow and everyone knows that the value of capital deprecites with rising costs.  Net, Net–savers are losers. or it appears. Savers are the ones that are severely punished for their pains.

The problem arises from their perception about money. “Saving is good. Debt is bad.” So, they struggle to save money and pay of their debts. They do not think that they can use borrowed money to generate money.  They borrow money to pay off a liability. They insist that they are wise.  Do you agree?

I do not. Those who understand money and the velocity of money are the winners!

Let us examine this fact.  When one person puts money into the bank for the purpose of earning interest (that is eaten away by taxes and inflation), another borrows it. The person who puts in the money, loses money. The bank makes money by lending other people’s money.  Businesses make money by borrowing from other people (via the bank or getting others to invest in Public offers). In other words, those you use other people’s money to make money are the gainers. They are also rewarded for it by way of tax incentives on interest/dividend paid on borrowed capital.

It appears, that there is good debt too! If you understand the dynamics of it, you may cease to be punished for your pains! You need to decide how much more punishment you are willing to take!  Get educated. Increase your financial IQ and get going!

Jan

28

2010

What is in it for me?

Posted by Samantha | Comments : (2)

Category : News and society, marketing content

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A lot has been written about Audience Advocacy and the mechanics of putting together something that appeals to the listener/reader. However, the bottom line of sales content is that “emotion is what really sells”. You need to get the audience to feel that there is something in it for them, if you want them to listen to your sales pitch and give the call to action.

So the first step in persuasion is to know what appeals emotionally to your listener.  What is the problem the product or service will solve for him and what will happen if the problem is not solved for them? If you can answer these questions, you will have the key to what motivates your audience emotionally. You can then set out to write your sales letter or make your online or offline presentation targeting this emotional quotient.

An outstanding example of an opening sales pitch is Mark Anthony’s speech in Shakespeare’s Julius Caesar.  The audience experience a roller coaster of emotions. Mark Anthony declares that he is there to bury Caesar and not to argue with Brutus and others about the qualities of the man. A subtle rider or “hook” to his declaration directs attention to the fact that “evil that men do lives after them” and “good” is buried with them. The rest of the speech is devoted to demolishing the association of “ambition” with Caesar and cutting through the arguments put forth by his killers for the murder…..

Friends, Romans, countrymen, lend me your ears;

I come to bury Caesar, not to praise him.

The evil that men do lives after them;

The good is oft interred with their bones;

So let it be with Caesar. The noble Brutus

Hath told you Caesar was ambitious:

If it were so, it was a grievous fault,

And grievously hath Caesar answer’d it.

Here, under leave of Brutus and the rest–

For Brutus is an honourable man;

So are they all, all honourable men–

Come I to speak in Caesar’s funeral.

He was my friend, faithful and just to me:

But Brutus says he was ambitious;

And Brutus is an honourable man.

If you look at successful sales letters or successful presentations or even speeches that moved masses to action, you will notice that an appeal is being made to the emotional being in the target audience every time.  There is play on fears–loss of health, loss of income, fear of failure and so on.  The very opening sentence or headline sets the context. It is often an attention grabbing, powerful, magnetic line that keeps the audience riveted to the speech. Here are a few examples:

  • Stop letting other people cheat you out of the Income you deserve
  • Your health may depend on the Information contained in this letter
  • Add years to your life with Newly Discovered Super Vitamin
  • Build Six Pack muscles that will be the envy of your peers

The sub headline then creates the hook that holds the audience dangling on the line.  This is often another associated emotional reason that supports the headline.

Just one capsule a day will extend your life by 25%!

An appeal that has nothing to do with logic.  There is no reference to a miracle vitamin. Only a statement that vitamins will benefit you!

From this point on the Sales letter or presentation or speech is carefully pitched from the point of view of the reader and the flow of thoughts that must arise from the initial questions that were addressed to him.  There is a conscious and sustained effort to answer all the possible questions that may arise in the minds. Of course irresistible special offers are made at the end and a deadline for availing of the special offer is set to urge him into immediate action.

So, if you are making a presentation to your boss or selling a product to your client or making a speech, do not forget–the emotional quotient. The success or failure depends on how well you answer the question “What is in it for me!”

Jan

26

2010

If you have sciatica: check where you keep you wallet

Posted by Samantha | Comments : (0)

Category : Communication, Medical content, News and society

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What has sciatica got to do with your wallet? Well studies have shown that those who keep a stuffed wallet in their back pocket often suffer from sciatica. The possibility was first reported in an article in the “New England Journal of Medicine” in 1966.

This particular report was about a lawyer. The lawyer who was gradually accumulating charge cards in his wallet began to complain of pains in his left leg. These pains went away when he removed his wallet and returned when he stuffed it back into his pocket.  The patient’s condition was described as “credit-carditis”. Another person is said to have developed this condition from stuffing handkerchiefs in his pocket during a particularly bad run of hay fever. Another reported similar pains from stuffing his back pocket with golf balls.

So, credit cards are not the only reason why people got sciatica.  Truck drivers, sedentary workers, call center operators and others who stuff their wallets with visiting cards or sit with their chairs pressing into their piriformis muscle, too can suffer from sciatica.

The onset of the condition is very gradual and often unnoticed.  The piriformis muscle is connected with the sciatica nerve and this disorder occurs when it is irritated by the piriformis muscle. The person experiences pain, tingling and numbness in the buttocks and along the path of the sciatic nerve descending down the lower thigh.

The diagnosis of this condition is largely clinical and one of exclusion. During physical examination the doctor will stretch the irritated piriformis and try to provoke a sciatic compression. This, rules out the possibility of herniated nucleus propulsus (HNP), facet arthropathy, spinal stenosis and lumbar muscle strain and all the high sounding medical conditions.  When all this has been excluded the doctor performs a simple operation called walletectomy–where he asks you to remove your wallet and empty it for his efforts.  Of course, he prevents you from putting it back in your back pocket with the visiting cards and credit cards.  If it is not your wallet but your seat that is causing you the problem, I am sure he will say “Now move it man!”

Jan

25

2010

Boundaries of freedom: tax laws

Posted by Samantha | Comments : (2)

Category : Communication, General, News and society, Types of content

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If you study the history of taxation of any country, you will note that it has been one long debate on constitutionality and unconstitutionality of taxation. Most often than not, taxation was seen as a means of amassing wealth, subjugating the enemy, financing a war or developing a nation by the rulers.  All land and all wealth rightfully belonged to the monarch and the citizen was allowed to enjoy “income” at the mercy of the State.  Property could be taken over, confiscated without explanations by the State. It was a declaration of the power and right of the State and a definition of the boundaries of their freedom.  If the subjects saw the ability to tax differently, it was just too bad.

The concept of taxation in the modern world is really not very different.  In countries driven by socialistic principles, the common good is placed above the individual good and all land, property and incomes belong to the society/State.  Individual wealth and inheritance concepts do not exist.  In capitalistic countries where the concept individual freedom and personal good reign supreme, voluntary compliance is, seemingly encouraged and people are persuaded to consider paying taxes a duty. Penal sections of the law were enacted as disincentives to tax avoidance.

Even today, in most countries, tax laws define the boundaries of your economic freedom. You are free to earn, live and love in a community so long as you give back to the community something of what you receive from the community.  If you do not do so with the spirit of joy, voluntarily, the state has the power to act Robin Hood.  It is no wonder, therefore, that there are several voices that declare taxation a socialistic tenet in a capitalistic world!

It follows that while economies can be capitalistic or socialistic, no Government can afford to be wholly capitalistic. While they can respect the concepts of “liberty, equality and fraternity”, they cannot place the individual good over the common good without extending an invitation to anarchy.  Unbounded freedom is a myth and rightly so. Do you agree?

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