Brand India saving grace in time of crisis

Country Moves On From Being Just A Statistic, Asserts Its Economic Power
Namrata Singh & Reeba Zachariah TNN Mumbai: Theres more to India than just its over-emphasized status of being the most populous democracy in the world. Random economic facts like India being the largest producer of milk, the largest consumer of sugar and spices as also the largest consumer of gold till last year, crop up now and then. But there have been achievements in the last few years which have put India on the world map. Over the last couple of years, India has been seen stamping its presence in the league of global leaders by the strength of its economic power. Consider these facts: The Tata Group is the largest manufacturing employer in the UK; Irelands richest person Pallonji Mistry is an Indian; Coal India is the single largest coal producer in the world; India is the largest whisky manufacturer in the world and the Taj Group is the largest chain of hotels in Asia. Despite a generous trickle of negative news, the list of these positives is also getting bigger. Brand India today is not just about economics. A significant way in which India is asserting itself is through its soft power. According to Bhaskar Chakravorti, senior associate dean of international business & finance, The Fletcher School, Tufts University, this soft presence is Indias greatest asset in making sure it counts on the world stage. Household brand names such as Citigroup, Pepsi and Motorola are associated with an Indian CEO. Clearly, India has moved on from being a nation of snake charmers and appears to be on its way to become an economic power. Soft power aside, its also working its way through innovations. The list includes, Nano, the cheapest car in the world from Tata Motors; Aakash, the cheapest tablet PC in the world, priced at $46; and other cheap tablet PC initiatives by private companies. However, there are some missing pieces too. India should surely move forward in the area of innovation where we can capture the value from our intelligent cheap resources from being just a provider of cheap labour. As of today, most companies (Apple, Microsoft, Google, Intel, etc) especially in IT that generate maximum value from innovation, rely on resources from India and we are clearly not getting the deserved share of the value created, said Thomas Kuruvilla, MD, Arthur D Little, a consulting firm. Richard Rekhy, head of advisory practice at KPMG, a global consulting firm, however, believes India has some way to go. But India, with 100 companies of over a billion dollar market cap, has established its position globally which is why GE set up its first R&D centre outside US in Bangalore. At the same time, Indian banks have only 2% bad loans versus 20% in China, he said. In the mid-90s, on a representation made by Indian exporters, the government had removed the mandatory use of the Made in India tag from goods exported. The law still exists on paper. Ostensibly, Indian exporters were embarrassed of using it then. But, today, no one is shying away from using the tag. JUMBO STRIDES ON SOFT POWER tIndia is largest whisky manufacturer in the world tParachute is the worlds largest coconut oil brand tCoal India is the largest coal miner in the world tBangalore has more Grade-A offices than Singapore tIndia is the largest diamond cutting and polishing centre in the world tIndia is the largest sugar consumer in the world

tIrelands richest person is an Indian Pallonji Mistry tParle-G is the worlds largest selling biscuit brand tKEC is global leader in tower production capacity tTata Group is the largest manufacturing employer in the United Kingdom

When and how much tax is deducted at source?

Find out about the different sources of income that invite TDS and how you can reduce your tax outgo
Khyati Dharamsi

The tax deducted at source, or TDS, is applicable on earnings from various financial instruments. Heres a guide to help you know when TDS is applicable. When is tax deducted at source? There is no uniform rate for TDS. It can range from 1% for sale proceeds from selling a house, to 30% for winnings from a horse race. Heres a look at how much TDS is cut from your earnings. Salary At the beginning of the financial year, or when you join a new organisation, your employer will ask you to fill an investment declaration form. This will include the maximum tax deductions allowed under Sections 80C, 80D and other tax-saving instruments. If, despite all these deductions, your salary is above the exemption limit, TDS will be cut from it every month. Lottery winnings Money won in a lottery, puzzle competition or a horse race is subject to the highest TDS rate of 30%. The TDS is applicable even on non-cash winnings. Bank accounts If the interest you have earned from your bank FD is above 10,000, you will receive it after the bank deducts tax. This exemption limit also applies to interest earned from a bank savings account. Property

Whether it is rental income or the money that you get after selling a house, you will receive the final amount only after tax is deducted. However, you can avail of exemptions in both cases. Superannuation fund and debentures If you withdraw money from a superannuation fund, it is added to the income and if your income is above the taxable limit, TDS will be applicable. In the case of debentures, interest income up to 2,500 is exempt from tax deduction. Gold and silver The finance minister recently announced that from July onwards, cash used to buy gold and silver jewellery worth more than 5 lakh will have to pay taxes upfront. How to save on TDS No TDS is applicable on the interest earned from a recurring deposit. However, once you receive the maturity amount, it will be added to your income and you will have to pay tax on it. If your income is below the taxable limit, but the interest earned from your deposits is above 10,000, you can submit form 15 G/H to the bank at the beginning of the financial year to not cut TDS. What to watch out for When you file your return, calculate the total income and the tax bracket you fall under, to determine the balance tax to be paid. If your income is taxable, you will have to pay the differential tax. Dont think you can avoid paying taxes by not declaring your permanent account number. All the taxes that are cut on your behalf by a bank, an individual or an organisation are listed in Form 26 AS, which is also called the annual tax statement.

On Your Mark: 8 Business Lessons

We wont pretend you cant learn these things somewhere else or from some other person. But hes the man of the moment: the face of tremendous success in business, the kind that defines a generation. So for all 20-something entrepreneurs (other ages also qualify) here is a list of 8 things to do in business that might make your company like Facebook, give or take a few billion dollars
:: Kamya Jaiswal 1 Dont Think Short Term Its stuff of business strategy lore. In 2006, Yahoo offered to buy Facebook for $1 billion. The FB board said yes. Then Yahoo slashed the offer to $850 million and Zuckerberg backed out. He calls the decision to say yes, and to make the yes public, his worst mistake in eight years. The hindsight analysis: dont sell out if you think the business can grow. Dont sell out just because the money seems too good now. 2 Keep Your Grip Strong Three years into the business and FB wanted cash to expand. But investors dont just bring in money, they like to get in their ideas too. Zuckerberg didnt want that no outsider to force his hand. So he shunned high rollers in favour of a strange bunch of investors like Li Kashing from Hong Kong, Samwer Brothers from Germany, and later, Alisher Usmanov from Russia, people who didnt want to interfere with his work. The strategy paid off: unlike most founders, Zuckerberg owns 57% voting shares at the time of the IPO. 3 Bet On Yourself In his book called the The Facebook Effect, David Fitzpatrick calls the company a one- man show. Thats because idea to operations, Facebook is Zuckerbergs vision all the way. So much so, that according to a dual share structure, his vote has far more weight than numbers indicate and he also has two seats in the FB board. 4 Screw Convention Yes, you havent heard of CEOs who dare claim their company wasnt part of the original plan or who hold road shows for investors before an IPO. Neither do they wear hoodies to such presentations. But when has Zuckerberg stuck to the rulebook? His philosophy is to get things done, without bothering about tradition. So there are no cabins in offices, posters are put up after a rocking IPO to remind employees about focus and a programming hackathon is the big party to celebrate a $104-bn valuation.5 Accept What You Are Bad At He is called socially awkward, but that is something we cant validate. Enough to say, people skills is not Zuckerbergs strong point. Neither is the coder-atheart great with HR policies and revenue graphs. Good thing, Zuckerberg didnt want to be super hero. So in 2008, he brought in Sheryl Sandberg from Google to take charge as COO. He also built a panel of advisers like Don Graham of The Washinton Post, Reid Hoffman of LinkedIn to become a better leader and communicator. 6 Keep Shaking Things Up Photos and video in 2005, News Feed in 2006, new Home Page in 2008, Timeline in 2011.. get the drift? Dont sit back and relax just because you have a great product out. There is no doubt that 900 million people would be wired up on FB even without some of these features but if you keep innovating, the competition can only watch in shock and awe. Or keep trying

to catch up: a place from where they cant push you down. 7 Bring the Stars Home FB wasnt built by Zuckerberg alone. He needed people with big ideas. So he shopped for the best talent in town, so what if that meant poaching from competitors. Check out the list of some of his top executives: David Ebersman, ex CFO at Genentech, Bret Taylor, founder of Google Maps, Matt Papakipos, engineering director behind Google's Chrome OS and Marne Levine, former chief of staff of the National Economic Council. 8 Stick to Your Guns The last big controversy hit in 2011when FB came up with Tag Suggestions, a facial recognition software that identified people in uploaded photos. But privacy has been Zuckerbergs nemesis for long: when FB launched Places, when some popular apps were caught transmitting user data to internettrackers, etc. Zuckerbergs response? Not an apology but a declaration that the age of privacy was over. Try These Too Say Big Things Focus on words like revolution and mission. They make you seem important, like a man on to something bigger than running a company. Very Jobsian. Keep Your College Wear The T-shirts, jeans and hoodies send a familiar signal: geek genius. The boy king who couldnt care less about his sandals it is a story with timeless appeal. Share Selective Personal Details Guard your privacy zealously. It maintains an air of privacy. But do share some juicy details. Like the fact you only eat the meat you hunt. Some pictures holding dead birds help. Steal A Few Ideas Its the hallmark of intelligence now. To prove you knew which idea to steal is to suggest you are blessed with an uncanny sense of the future. Sounds similar to another cult entrepreneurs strategy? Develop A Fetish At work, that is. You must be known to be obsessive about an idea that becomes synonymous with you. Try the hackers way or move fast break things.