Friday 2 December 2016

[www.keralites.net] Business and black money

 

Here is an interesting story:

Once Badshah Akbar' s army was engaged in a prolonged war. As a result his royal wealth ("shahi khazana") was nearly exhausted.
He asked Birbal, "How to replenish my wealth."
Birbal: You can get it from Dhanna Seth.(merchant).
Akbar was amazed as to how a trader/ merchant could have so much money. Still he went to Dhanna Seth.
Dhanna Seth offered: Badshah Akbar, I have huge wealth, take as much as you want."
Akbar: Dhanna Seth, How did you accumulate so much wealth. Tell me without any fear of punishment.
Dhanna: I earned it by adultrating grains spices.
Akbar got angry, he took all of Dhanna's wealth and ordered him that from then on he would collect the horse dung  in his royal stable. Dhanna agreed.
Years passed by. Again Akbar had to fight a long drawn battle. Again his royal wealth exhausted again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar wondered : Birbal, I had ordered him to work in royal stable to collect horse dung, How on earth he can have such a wealth."
Birbal: Badshah, you can ask him but only he can help you.
Akbar went to Dhanna. Dhanna gave Akbar huge wealth.
Akbar: Dhanna Seth, I had earlier taken all your wealth, How did you accumulate it again?
Dhanna: From the stable - incharge  horse attendants. They used to underfeed the horses. I threatened them that I will complain to Badshah that they did not feed horses enough, hence the horse dung quantity was less. So they bribed me to keep silent.
Akbar got very angry again ordered Dhanna to start counting the waves at sea returned to his Palace with Dhanna's wealth.
As luck would have it, Akbar fought another war, royal wealth emptied out and once again Birbal advised Akbar to go to Dhanna  Seth for help.
Akbar could not believe as to how Dhanna could earn so much by counting waves at sea.
Akbar asked Dhanna for the help.

Dhanna: Badshah, Take as much as you want but this time around I will not change my profession.

Akbar: Ok, but tell me how did you earn money by counting Water waves at sea.

Dhanna: Very simple, I used to stop merchant's ships boats far  away from sea shore. I showed them your orders that I  was counting waves their ships boats would disturb or break the waves hence their ships or boats should stay away. Badshah, these merchants then used to bribe me to let them reach the shore unload their merchandise.

So Badshah understood that Dhanna Seth can earn by engaging in manipulations bribery from any profession.

Demonetisation or no demonetisation, the Dhanna Seths of our society will always find a way to earn accumulate black money..... Endlessly...

 

Now to my own experience. 

I have also been in business for the last 32 years in Kerala. I am not much of a businessman as my interests lie in rationalism and business to me was just the means to make a living and read books. I would grade myself as 5 to 6 on a scale of 1-10 for a businessman. I must also admit I was guilty of evading tax. But that was because there was no alternative; I had to evade tax to survive in a competitive market. 

I was dealing mostly in solvents for different resins and paints. One of the items I used to deal in was Toluene which is a thinner for various paints. It is also used in washing pharmaceutical capsules. One of the biggest manufacturers of Toluene in India is Kochi refineries (KRL) hardly 10KM from home. 

Now there are two kinds of consumers for Toluene - 1. Those who use it as raw material ingredient in paints, thinners and other products. 2. Those who use it as consumables such as in washing pharmaceutical capsules. 

When Toluene is used as an ingredient or component it has to be accounted weight for weight in the finished product. Thus if 60KG of Toluene goes into making 100KG of paint or other formulations the finished product will contain 60% by weight of Toluene.

But when it comes to the use of Toluene as consumables such as in washing capsule, there is no Toluene whatsoever in the finished product. Another common consumable is welding rods which do not come as an ingredient of the finished product.

There are many Pharmaceutical companies in Hyderabad which buy Toluene from KRL for washing their capsules. If they need 30 MT of Toluene they buy 40 MT and unload the excess 10MT in Kochi itself to dealers like me without bill or documentation. I make the payment by Hawalla. The Pharmaceutical firm in Hyderabad will account for the excess 10MT as expenditure for which they are entitled to income and excise deduction. The Hawala payment for the 10MT made by the likes of me will become black money in the hands of the Hyderabad businessman.

I am now left with 10MT of Toluene which has no purchase bill or other papers. I sell it to small operators manufacturing paint thinners/polish etc and who are not particular about bill. They sell their product to car painters, wood-furniture manufacturers etc who also do not need any bills. And of course we the people are ready to buy such furniture or services if they can get lower costs without paying taxes. So in a way it is everyone form the Hyderabad businessman to the common man who is responsible for the black market and black money in India.

You may ask me why I do not keep off such black market deals. My customers come to me for a basket of different things such as Toluene, Acetone, Turpentine, Butyl Acetate, Butanol etc most of which are sold legally. But if I do not give them Toluene also they may go to other suppliers and if they are not fussy about taking black-market Toluene I have to sell them that. So I have to deal in the black market if I am to survive in my business. As you can see from the example above businessmen have to go along with the system if they are to survive. 

The common notion that businessmen thrive by not paying taxes is a false one. In a competitive market businessmen have to reduce prices in step with the tax evaded.

Suppose there is a 10% tax on an item and if a businessman takes 10% from the customer and pockets it his competitor will sell for 7% tax and pocket it and then another competitor will sell it at 5% tax and pocket it. This will mean loss of market for the first seller and he will have to reduce his tax margin to 2% or less and ultimately the tax evaded will pass on the consumer in Toto unless there is a shortage or monopoly.

So the blame for the black money cannot be blamed in businessmen along. It is the system from the manufacturer to the common-man consumer who are responsible for the black money. The common man on the street who waxes strong against black money will shy away from a proper bill if he stands to gain a few rupees from the black transaction. So we are all responsible for the malaise called black money. Black money is systemic and has to be treated as such. Demonetization and other countermeasures can be merely topical at best. 

--
 

Regards


Myth Buster

"All new ideas good or bad, great or small start with a one-man minority" - anonymous

www.keralites.net

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[www.keralites.net] The Most Beautiful Thing In The World Today: Geometric Water

 
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[www.keralites.net] :03-12-2016 TODAY’S MESSAGE FROM TRICHY PRASANNAN PAYTM to BANK [1 Attachment]

 




Subject: :03-12-2016 TODAY'S MESSAGE FROM TRICHY PRASANNAN PAYTM to BANK

Wait, 
 
Animated Picture
 
My Whatsapp Number:   9791714474
If you want to join my whatsapp contact,
your name,
your place,
your mother tongue
should be mentioned
 
03-12-2016  TODAY'S MESSAGE FROM TRICHY PRASANNAN
 
0_88e08_618d8edf_L.gif


31216e.JPG
 
Subject: PAYTM to BANK
 
Dear friends,
Very useful info.
There is a lot of confusion and ignorance  about the use of these e payment apps by senior citizens and others who are not tech-savvy.
I wish some organisations/individuals conduct meetings and teach the seniors,with practical illustrations,as to how to use these Apps.Some educative videos on this subject will be very useful.
Best regards
 
 
 
Paytm_2_1479993610750

How to Transfer Money From Paytm to Bank Account

rajtechnews • On November 28, 2016  TECH 0
How to Transfer Money From Paytm to Bank Account
Paytm has become the go-to digital payments app for many people in India after the demonetisation drive, and the company has added thousands of merchants to its platform within days of Prime Minister Narendra Modi's announcement of scrapping Rs. 500 and Rs. 1000 currency notes. From vegetable vendors to grocery stores, everyone is joining the Paytm cashless payments platform.
But there is still some confusion about what happens after a merchant receives a payment from a customer via Paytm. How should merchants transfer money from their Paytm Wallet to bank accounts? Scroll down to find out the simple process to transfer money from your Paytm to bank accounts.
In order to transfer money from your Paytm wallet to a bank account, you need the name, account number, and IFSC code of the bank account holder. However, there is a Rs. 20,000 limit on transactions (Rs. 50,000 for merchants) if you haven't got your KYC (Know Your Customer) process done. if you need to transfer more than the limit, then you will need get in touch with Paytm to get your KYC done.
Doing so is also quite simple: first find a Paytm KYC centre close to you, and provide the relevant RBI-approved documents (Aadhar card, passport, voted ID card, driving license, or NREGA job card). You can also type in your Aadhaar number, and then request a visit at your address. While the PAN card number is not necessary, it becomes mandatory if you want to transfer more than Rs. 50,000 in a single transaction. You can conduct unlimited transfers after the KYC is done.
The KYC process can take up to 48 hours, but you can shorten it by providing Aadhar card as proof of identity as the biometric verification "results in instant completion of process," says Paytm.
How to transfer money from Paytm to any bank account using Paytm app
Open the Paytm app on your smartphone and tap the Passbook icon
Here, select the Send Money to Bank option
Tap on Transfer
Enter the amount, account holder's name, bank account number, and IFSC code
Hit the Send button
Paytm bank transfer   app how_to_transfer_money_from_paytm_wallet_to_bank_account
How to transfer money from Paytm Wallet to bank account using Paytm desktop website
  • Open Paytm.com website and login to your account
  • Roll the mouse cursor over your name at the top-right of the screen and click on Paytm Wallet
  • In this window, select the Transfer to Bank option and type in the requisite details
  • Hit the Send Money button
 
Paytm bank transfer   desktop how_to_transfer_money_from_paytm_wallet_to_bank_account
If you are a new Paytm user without KYC, you have to wait three days to transfer money from your Paytm Wallet to bank account. On the other hand, those who have completed the KYC process can start bank transfers immediately.
Transferring money from your Paytm Wallet to bank account will be free of charge till December 31 for merchants who have done KYC. Other customers, as well as merchants who have not yet completed the KYC process, will have to pay a 1 percent fee. You can send a minimum of Rs. 100 to your bank account via the service. Every Paytm users can transfer up to Rs. 5,000 at a time, with 25,000 per month the limit. If you are a merchant, you can transfer up to Rs. 50,000; with the limit going up to Rs. 1 lakh if you are a user who's done his or her KYC.
------------------------------------------------------------------------------------------------------------------------------------------------- 
  Thanks to Mr.Padmagirisan for posting this useful info about PAYTM.
  - SIVA 
 
 
 
 
regards
Naa Prasannam, Trichy, Tamil Nadu
Mobile: 9488019015.  9941505431,
my slide share site for 4 Languages
Tamil:  http://www.slideshare.net/nprasannamtamil,                
Hindi:   http://www.slideshare.net/nprasannamhindi,                        
 
My Whatsapp Number:   9791714474
My Facebook:  Search: Narayanasamy Prasannam
 
 
 
 


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Posted by: prasannam n <iampresanam@yahoo.co.in>
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[www.keralites.net] 11 Ways Fasting Can Help You Live Longer!

 


11 Ways Fasting Can Help You Live Longer!

Fasting should not always be associated with religious beliefs. And it shouldn't be observed to lose weight. Fasting is a great way to flush out unwanted toxins from your body. Here are 11 benefits of how fasting can add a decade to your life…

1. Fasting compels your body to stop using glucose as a fuel to burn fat

Glucose is not considered as a good fuel to burn fat. When you stop providing glucose to your body, the cells in your body become more swift and the fat burning process starts at a faster pace.

2. Fasting normalises insulin and leptin sensitivity

Leptin is a hormone that is secreted by fat cells. Consuming less calories on a regular basis can lower sensitivity to leptin, which leads to fat loss.

3. Eating right after fasting is equally important

 

Your fast goes for a complete toss, if you don't combine proper food with it. For instance, breaking your fast with a meal filled with fats is not going to trigger weight loss, but it will increase your kilos.

4. It regenerates your immune system

Fasting helps regeneration of new immune system cells. The scientists at University of Southern California suggested that fasting can be beneficial for cancer patients who are undergoing chemotherapy.

5. You can fast without giving a religious angle to it

Fasting is mostly associated with religious beliefs. However, fasting can be done just to detoxify your digestive system by observing an intermittent fast.

6. It increases your metabolic rate

 

Studies suggest that short term fasting increases the metabolic rate by 3.6-14%. This results in quick digestion and quick calorie burn.

7. It lowers the risk of Type 2 diabetes

Fasting is beneficial for insulin resistance which leads to a great cut on blood sugar levels.

8. It improves brain health

Not consuming calories triggers addition in the levels of a brain hormone called brain-derived neurotrophic factor (BDNF), a deficiency of which causes depression and other brain problems.

9. It extends your life span

 

Prahlad Jani, a sadhu, claims to have lived without food and water since 1940! He was kept under observation for 10 days, where he was perfectly fine without food and water.

10. It helps you realise your wrong eating patterns

We keep hogging on food even when we aren't hungry. But when you fast, you realise that you can survive without that intake of 1000 calories a day.

11. It reduces oxidative stress and inflammation

Oxidative stress is one of the reasons you look older than you actually are. Fasting reduces puffiness and inflammation of the body, making it more resistant to stress.

 

 


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Posted by: Cool Kis <cooolkis@gmail.com>
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