Is your job more demanding than ever? Does your job scope continue to expand? Are you tasked with more responsibilities and fewer resources? Do you manage geographically dispersed teams? Could your leadership style use some refinement? Do all the "new opportunities" in your organization leave you scratching your head about how to be an effective leader, change agent, manager, and top contributor? Maybe you need an Executive Coach.Executive Coaching is an effective, highly personalized process to help organizations build leadership capacity. The coaching process is a formal, contracted relationship between a leader and the coach. Typical engagements are six to eighteen months long.Today, executive coaching is regarded as a "badge of endorsement." Being coached sends out the positive message that your organization considers you a worthy investment, and sees you as a next-generation leader. This has not always been true. Historically, coaching was used to remediate managers who were likely to derail. At the other extreme, coaching was an exclusive privilege reserved for the most senior executives. Today, coaching is becoming available as a means to develop talent at all organizational levels.Types of CoachingExecutive coaching can address a broad continuum of development or performance needs.Although distinctions are made between development and performance coaching, this is misleading-development occurs in both approaches. Development coaching focuses on broad lessons gained from the leader's experiences. Through cycles of inquiry and reflection stimulated by the coach, a leader broadens self-awareness about their own pattern of attitudes and behaviors in different workplace situations. These tendencies tell a career story of how the leaders' handling of situations have either served or undermined their career progress. There is a strong emphasis on what the leader "thinks."Performance coaching focuses on short-term solutions relevant to their current job. Though the process of inquiry and reflection is similar to that of development coaching, the questions posed to the leader shift in order to create immediate outcomes. Alternate ways of talking and acting are discussed; but the alternate behaviors may not be sustainable without the leader's broader awareness about why they talk and act in certain ways. There is a strong emphasis on what the leader will "do." Both types of coaching can be used to either proactively promote the careers of emerging or top talent, or to remediate particular behaviors, attitudes or skills of those whose careers are in jeopardy. Just as organizations pursues both a long-term strategy and short-term goals, so too might a leader when he or she engages with a coach. Long-term development is related to the hopes of the leader for the future, and involves developing new capacities and perspectives. Short-term development is goal-oriented, more practical and immediate, and relies on the leader applying an established set of skills and behaviors to contribute to their company's financial strength and long-term strategy.Both approaches benefit the company, and leaders need to attend to both. By maintaining a development and performance perspective, leaders are better prepared to accept broad and complex leadership demands at the top level.Need a Coach?Although a powerful and effective method, executive coaching is not the right solution for every person or situation. Here are 3 questions to determine if you should consider working with an executive coach. Will you make the coaching work a priority in your busy schedule? Can you commit the necessary time, money, and motivation to a six to eighteen month formal, contracted relationship? Are there specific short-term performance-based goals or long-term development goals you are ready to address? If your response to these three questionsis yes,then consider the "coaching readiness" questions below to prepare yourself for your engagement with an executive coach.Coaching Readiness Questions:Situation helps to clarify goals to achieve. Do you think you need to develop? Are there particular skill areas, interpersonal needs, or career requirement you have to meet? Does someone else such as your boss or HR want to give you an opportunity? Why? Motivation determines how much effort you are willing to make to change and achieve your goals. What is motivating you to make a change? Does your boss support your making the changes? Are you open to feedback? Do you have specific career goals you want to accomplish? Learning styles help determine the best approaches for development, Do you learn best from conversations with others? Do you get the most from a clear process and structure? Do you learn best from trying different behaviors and evaluating the results? Do you need the big picture, how it all fits together, before you get to the details? Accountability helps sustain motivation and achieve results. Does being accountable to your organization help you to persist? Do you need the support of others to help you stay motivated? How does the involvement of others in your plans affect you? Executive Coaching is a powerful method to develop a leader. As the relationship progresses, the leader gains new awareness about self, others, situations and their personal impact. Today, more than ever, executive coaching is no longer a luxury reserved for the executive elite but an effective process to help all types of managers at all levels throughout an organization. Pros of Executive Coaching: Confidential Highly customizable Objective feedback Highly qualified professional coach Growth and learning oriented Flexible methods (where and how the work is conducted) Focused development goals Time-bound Improve effectiveness Performance improvements Strong accountability Outcome driven Cons of Executive Coaching: (few, but important) Six- to eighteen month commitment Prioritizing calendar time Higher Cost than other developmental approaches (leadership programs) Author is Coaching Portfolio Manager, Center for Creative Leadership
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The rapid proliferation of mobile devices and advent of web-based enterprise tools, cloud computing and virtualisation have enabled an instant-on office, where workers can access and modify information regardless of location. While enterprises are attempting to strike a balance between securing and managing growing information volumes while improving business processes and enabling productivity, technology is evolving so rapidly that they are constantly struggling to keep pace. At the centre of this challenge is identity and access protection.Accessing information that rests on computer networks has conventionally been managed by means of confidential passwords and centralised authentication databases. Now that applications have shifted to the world of Internet, it has become clear that the use of passwords is no longer protected enough for this medium. With numerous data breaches and increasingly sophisticated methods of stealing passwords, it becomes important that businesses and consumers are confident that the people, networks and devices accessing, modifying or sharing information are verified to be authentic and legitimate.The lack of a trusted system of verifying identities poses the following dangers: Privacy violations, lack of confidentiality, data loss or fraud: Since transactions are not secure, there's the danger of hackers and other unauthorised users gaining access to sensitive data and exploiting it for malicious purposes or financial gain. Reduced innovation: Because ecosystem participants don't trust each other, this inhibits the kind of collaboration between members that often leads to innovation. Counterfeit or inauthentic products or services slipping into the distribution chain: If there's no security mechanism to ensure that everyone in the ecosystem is who or what they say they are, there's the possibility that unauthorised parties could enter into the community and illicitly insert their own products or services into it. Loss of Revenue: One serious result of the above is that illicit products or services divert revenues from legitimate members of the community. Brand erosion: It is not only top-line revenues that are at stake. If unauthorised products or services are being delivered to customers or users, and, as is usual in such cases, the quality of those products and services is inferior, the reputation of one or more members of the community can be compromised. One solution that enables a trusted ecosystem for sharing and collaboration over the internet and other networks is Public Key Infrastructure (PKI). PKI is especially designed to ensure the security and trustworthiness of transactions and identities in three ways: authentication, encryption, and digital signatures.Authentication ensures that a person or device is accurately identified. It is achieved by binding public and private keys to user identities through a certificate authority (CA). Each user identity issued by a CA is unique, so that a credential issued that is based on PKI can be trusted.Encryption is the process of transforming information so it is unreadable by anyone who doesn't have the designated key. In PKI, encryption protects sensitive information whether data is in transit or at rest. Once a person or device has been accurately identified, the CA issues a digital certificate that binds a public and private key to the user identity. In order to protect data in transit, data is encrypted with the private key of the sender and the public key of the recipient. Data can only be decrypted by the private key of the recipient. The private key is kept private by that individual, and never shared with anyone or sent over the Internet. The public key is stored in a directory as part of a digital certificate. Anyone who wants to send a secure message uses the public key of the recipient to encrypt it. The recipient is the only one who can decrypt it, using his or her private key.A digital signature strengthens the integrity and audit potential of electronic transactions. It is created with an algorithm that combines an individual's private key with the electronic document that is being signed. Since only the person who owns the private key can create the digital signature, that signature can be trusted. This can be verified by anyone possessing the public key for that individual.There are some steps that enterprises should follow to implement strong authentication across the network and enable confidence among users and partners in the information-driven world:Understand the true nature of today's IT usage within the corporate environment: Enterprises should first be able to identify where their most sensitive information resides, and take a prioritised approach that protects this information at rest and in motion. Increasing consumerization means that there is a tremendous growth in unstructured data - information that does not reside in traditional databases - causing a security challenge. Technology can help discover the most sensitive information in order to protect it. Ensure strong authentication for all employees and partners coming into the organisation: Not only are sales people accessing critical information from outside, but so are field marketing, home-based employees, partners, and many others. Furthermore, employees will be accessing Internet applications from within the network. Strong authentication (Two-Factor Authentication) system works by requiring two simultaneous but independent authentication methods. The first factor involves hardware or software that provides the user with an electronically generated passcode or digital certificate that serves as a unique identifier for a particular user. It is then coupled with the second factor such as a password and together they constitute a strong authentication system for enabling access to critical resources like a corporate network.Adopt a layered approach of deployment for the strongest possible authentication: Layered solutions have been essential for some time in the world of corporate security, and strong authentication is no different. Protective layers for access to enterprise data can include everything from risk-based authentication to fraudulent login detection to one-time passwords and digital certificates for all PCs and laptops inside the organisation. These solutions can be used from anywhere and using any device.PKI managed solutions help streamline operations, minimise the risk of fraud and waste and disseminate information more securely. Hence, a robust authentication system can be constructed to solve a number of real-world identity management problems today.Suhas Prakashkumar is Director of Development at Symantec
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Placeshifting. As much as it sounds like something an advanced alien species try in a sci-fi flick, it's actually quite a compelling concept that sees life in the Slingbox range of products. The idea that you could use a PC, smartphone or tablet to control your cable/satellite box and…wait for it… stream whatever's showing on your TV to any of these devices no matter where you are in the world! I took the Slingbox PRO-HD, (the high definition variant of the Slingbox) for a spin to see just how well it delivers on its seemingly far-fetched ambitions. Pull the PRO-HD out and you're immediately confronted with a ton of analog input and output sockets. For the AV geeks, that's ports for power input and ethernet, an unused USB host port, then the SD inputs (L/R audio, video and S-Video), the HD inputs (L/R audio, S/PDIF and component video), the IR blaster port and then coaxial input/outputs. Notably missing is HDMI - I can understand such a choice for the standard definition (SD) variant of the product, but on the HD variant, I'd imagine at least one HDMI port would be about par. With no integrated Wi-Fi, you will need to connect it using a wired connection, or invest in an additional wireless hardware (something called a SlingLink) to connect to your Internet connection. Sling supply a set of cables for each type of connection, so that you can connect up the Slingbox and then route it back to your TV, plus there are also four IR blasters, L-shaped self-adhesive plastic sticks which can be used to control sources like satellite TV boxes via the virtual remote control in the SlingPlayer software. Working through the onerous task of configuring the remote to control your devices (you may have to hunt the forums for remote codes specific to your set-top box) and then finally the Internet connectivity was enough to test my patience. If you can set this baby up, that's more than half the battle won. Remote viewing on your PC is free, but you'll need to cough up extra for any iOS or Android device you want to use to watch your TV while on the go. Sling recommends a fast broadband connection (2 Mbps or more) for streaming HD video, though for most regular SD content, a slower connection will do – and if you're consuming content on a smartphone, the SlingPlayer client will automatically adjust bitrate according to network capacity. All said and done, the quality of the streamed video remained consistently good, be it on a smartphone, tablet or PC. Just keep in mind that much like other place-shifting devices, the Slingbox monopolizes the set-top box to which it is attached, so if you log in remotely to switch to Star World to watch the latest sitcom episode, anybody watching the TV will be forced to watch that channel as well. Likewise, if they switch back to another channel, the Slingbox feed will change, too. Also, remember that streaming works only to one client at a time. Once the novelty of the concept wears off, and you start factoring in the costs of having a fast connection on both ends and crippling fair use data policies in effect with most ISPs, what remains is product that appeals to a small niche of well-heeled geeks for whom watching that 9 pm soap is paramount, no matter where they are in the world. Clearly a product that needs a local reality check.Rating: 6/10Price: Slingbox PRO-HD: Rs. 14,999/-, Slingbox 120 (Standard Definition): Rs. 7,999/-URL: http://bit.ly/zAbcHVFeast For Fifa Fans Capturing the essence of the world's most popular game is a daunting task for any game developer and Electronic Arts rises to the occasion to deliver FIFA 12, the latest in a rich heritage of football oriented titles. FIFA 12 injects a shot of realism into the gameplay, something even long time FIFA fans will appreciate. With three major changes to match dynamics - close control, the player impact engine and the new tactical defending option – the gameplay feels a lot more like the matches you watch on TV, and less a game, not to mention the glorious element of unpredictability that the real game packs in. Outside the matches, the footie fanatic can indulge themselves in managing their teams, pitting them against online leaderboards to track how well your choice of players is doing, a move that bodes well for continued gameplay and longevity of the game title.Rating: 8/10Price: Rs. 2,499/- for consolesURL: http://bit.ly/wt1GpTA Tab On The Price The Reliance Tab and the Beetel Magiq have company, this time courtesy a tablet from PC major HCL. Priced at Rs. 10,990, the X1's brushed aluminum finish makes it look like something for which you've paid a fair bit more. At 7-inches, it is comfortable to hold and lug around and use, though the button placement is a little awkward and takes getting used to. Specs are passable when you consider the price, and that it packs in Android 2.3.3 (Gingerbread) is refreshing. HCL's done a good job of packing the X1 with lots of local applications such as apps for Cleartrip, Bookmyshow and many of these ship with special offers if you use the app to make your purchases. Noticeably absent though is the Android Market – though HCL has thousands of custom apps on the ME Apps Store and allows you to load Android app files directly as well. Net net, as an India targeted tablet, the X1 is a good attempt at the budget tablet category.Rating: 8/10Price: Rs. 10,990/-URL: http://bit.ly/xeR8iZThe Cool ConnectHaving multiple TVs in the house usually means buying set top boxes, DVD players for each. What if you just want flexibility in where you watch the content? With the the MyWirelessTV Multi-Room Wireless HD Video Kit, Actiontec delivers a product that can stream full HD video from the source in one room to the TV in another room without having to run wires. So you can share your DVD and media players from one location to all the TVs in your house. Best of all, the kit comes with its own wireless connection and doesn't even need to be set up to connect to your home network!URL: http://bit.ly/xkbv2UPrice: $229.99technocool at kanwar dot nettwitter@2shar
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Not sure how credit information reports and scores effect your chances of getting that home loan? Vikram Narayan, Country Manager & Managing Director, Experian India talks to Businessworld's Tanushree Pillai about the importance of credit reports and scores and how individuals and lenders can benefit from these. Excerpts: What is the job of a credit bureau and who all can avail of its services?A Credit Bureau or Credit Information Company (CIC) as it is known in India, is an independent organisation that compiles public data, statutory information, identity information, credit transactions and payment histories of individual consumers and organisations. A CIC such as the Experian Credit Information Company of India, stores information provided by various sources in the same way as it is provided to them - the CIC does not alter or represent the data in any other way. Similarly a CIC does not offer opinions on the data they hold or make any decisions on behalf of lenders who use their services and reports in the credit decision making process.A CIC simply provides the data that is held about an individual borrower to the lender who will make their own assessment based on a range of factors, including the data we manage. The role of a Credit Information Company is to facilitate a culture of information sharing amongst lenders; to provide accurate information to lenders; to make it possible for lenders to quickly make fair, consistent, responsible and profitable lending decisions; to facilitate mass market access to credit, without security; to protect consumers against over indebtedness by providing a full picture of credit exposure and therefore capability to repay; to help lenders guard against fraud, which is a growing and serious problem; to provide consumers with copies of their Experian Credit Information Reports upon request; to educate consumers on the importance of Credit Information Companies; to promote responsible lending and responsible borrowing.Only organisations as described by the Reserve Bank of India under the Credit Information Companies (Regulation) Act 2005 (CICRA 2005) as users and those who are members of our information-sharing scheme can avail our services. Our information-sharing scheme is strictly regulated by the Reserve Bank of India as per the CICRA 2005. There are strict rules governing the ways in which lenders can access and use the data we hold about consumers.How much does a credit report help an individual while applying for a loan?As your credit history plays a key role in your ability to obtain credit and on what terms, it is important to understand the information that is shared by lenders with a credit information company, such as Experian. By understanding your credit history it enables you to take control of your financial situation, make informed financial decisions and also helps to protect yourself from identity theft.What does Experian Services do?Experian's products and services help businesses in customer acquisition, customer management, fraud management, risk management and debt recovery. These are grouped under four principle business lines: Credit Services, Decision Analytics, Marketing Services and Interactive Services. Experian Credit information Company of India Private Ltd is the 16th Credit Bureau operated by Experian. It will provide credit information services to lenders and consumers. We are in the process of acquiring 3 more credit bureaus in Latin America and setting up one more credit bureau in Australia.Experian Credit Information Company of India is a joint venture with 7 banks and NBFCs such as Axis Bank, Punjab National Bank, Union Bank of India, Indian Bank, Federal Bank, Sundaram Finance and Magma Fincorp for providing credit information services. Experian Plc is the single largest shareholder in the company. In addition to providing credit information reports to lending institutions which are members of the Experian Credit Information Company and to individual consumers, we have also launched various value-added services which allows Indian lending institutions to unlock greater customer insight. Experian's customer management products such as Triggers, Account Review, Premier Attributes, CIR+, etc. are used by many leading banks and NBFCs around the world to deploy customer level strategies across the organisation; increasing customer value and account revenue whilst reducing operational costs, credit losses and customer attrition.What does a product like Triggers do?Experian Triggers™ is India's first daily notification service which provides Indian banks and NFBCs with information about consumer credit activity. By providing automated notifications about changes to a customers' financial situation, Experian Triggers helps banks and NBFCs take immediate steps to minimise bad debt.Triggers was launched in June 2011 with Axis Bank and Fullerton as our early adopters. Since then we have added more banks to the list. When did Experian come to India?Experian Services India has been providing decision analytics services and products in India since 2007. Our renowned global experts provide consultancy on all aspects of risk management and work with customers to determine the most optimal strategies to deliver tangible improvements in credit and operational risk practice. Connect+ is an industry standard gateway that helps connect bank's internal systems with multiple credit bureaus and other information sources providing actionable intelligence. Recently HSBC signed an enterprise wide deal to use Connect+ to further standardize its third party data access around the world. Hunter is the application fraud detection and prevention solution which helps users go beyond conventional scoring and underwriting techniques to identify fraudulent applications early in the origination process. Currently, Axis Bank and ICICI Bank are using Hunter in the local mode. We have also launched Strategy Manager which will help banks and NBFCs to treat every customer as an individual and make the right business decisions which will enable them to protect their customer base. Tallyman is a product which helps our customers manage their collections process end to end.In 2010, Experian launched its Indian marketing services business. It products and services provide actionable competitive intelligence to its customers and enables them to identify, target and acquire customers. Experian CheetahMail is the trusted service provider of email marketing for top enterprises worldwide. In India, CheetahMail is being used by Kingfisher Airlines, Lemon Tree Hotels, MakeMyTrip among others.You recently launched Hunter. What does Hunter do?The best strategy to prevent fraud is to detect it at the application stage before a customer is accepted. Experian National Hunter brings in global best practices in fraud based on Decision Analytics experiences, in terms of fraud techniques and trends, and mechanisms to identify/manage them. Globally, Hunter has been able to provide billions of dollars of fraud savings to more than 100 major institutions.Combining a rules-driven business engine with intuitive investigative tools, National Hunter creates a continuous cycle of fraud prevention and detection. The system can be used for all types of loan applications and fraud identification across multiple loan types and channels. Hunter operates on two levels - Local and National. Local Hunter is when the service checks for inconsistencies and past records within the bank across branches. National Hunter is when the service checks for inconsistencies and past records not just within the bank but across banks which have signed up to be members of the Closed User Group. India's Top Three private sector banks - Axis Bank, HDFC Bank and ICICI Bank are already using the service.How can an individual access his credit report from Experian?As per CIRCA 2005, every individual has the right to seek his or her credit information report from the credit information companies. At Experian, we have made it easy for the consumers to access their credit information.An individual simply needs to apply to us and request for the application form to be sent to him. A duly signed form along with identity proof, address proof and a fee of rupees 138 is all one needs to send to us. After validating the information provided by you with the latest records provided by our members and as maintained by us and after authenticating your identity and confirming your address we will dispatch your Experian Credit Information Report within 20 business days.Does Experian provide an individual credit score? Can a retail customer have access to his score? How?Currently, we provide only a credit information report to the individual consumers. We do provide a bureau score to the member banks and NBFCs but not to the consumers.Not many individuals are aware of credit reports and score. How do you think this issue can be tackled?Retail loan is still in its early days of growth in India and hence it is natural that not many will be aware of credit information reports or credit scores. At Experian we believe that an informed and aware consumer is always good for the overall health of the banking industry. This leads to responsible borrowing by the consumers resulting in lesser defaults and delinquencies. Thus we have invested in creating consumer education programs which educates individual consumers about credit, credit histories and credit management. We conduct seminar to educate the consumers at various places and through various forums. We have created literature to help consumers understand the importance of credit management at various life events such as moving homes, bereavement, illness, getting married, etc to enable them to take control of their financial situation.What does one need to do to maintain a healthy credit history and why is it important to do so?When you apply for a loan, banks have to make sure that you are who you say you are and that you are likely to repay the loan. They will look at the information in your application and will check your credit report from a Credit information Companies (CIC). Banks and NBFC's provide a record of your loan and credit card repayments to a CIC such as Experian. A CIC is an independent organisation that compiles public data, identity information, credit transactions and payment histories of consumers. Our Credit Report contains identity information, past and present credit obligations, previous addresses and enquiries made by banks for all your loan applications. If your report shows that you repay credit on time, this will usually help you get credit at favorable terms. Thus it is important to maintain a good credit history.There are a number of things that you can do to improve your credit profile and thereby your chances of getting credit: always make your payments on time. If you cannot do this, contact the lender as soon as possible to discuss what options are available to you, it is always better to speak to your lender immediately if you are experiencing any difficulties in maintaining your payments; If you have paid off a debt but your report doesn't show this, contact the organisation concerned and ask them to make the necessary changes or contact us and we will contact the relevant organisation for you. Close any accounts you no longer use; Check your credit information report regularly. It always makes sense to get a copy of your credit information report before you apply for credit or if you are refused credit as a result of information held by a credit information company.tanushree(dot)pillai(at)abp(dot)in
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The government needs a regular stream of revenue over the financial year; personal income tax is one of the sources of revenue. Accordingly taxpayers are required to discharge their tax obligations over the period in which income is earned. Generally, income in the nature of salary, interest etc. is subject to tax deduction at source (TDS). The tax payer is required to pay taxes in advance during the financial year on the estimated amount of income expected to be earned during the financial year as well. However, where the tax liability of the individual (after considering the taxes withheld) is less than Rs 10,000 the taxes could be remitted as self assessment tax, before filing the tax return. The obligation to pay taxes in advance is triggered only where the estimated amount of tax is expected to exceed Rs 10,000 after the adjustment of TDS. The tax payer, therefore, has an obligation to remit the taxes payable — to the extent it has not been met through TDS — by way of advance tax by the 15th of March. A shortfall in payment of taxes attracts interest. Interest liability will arise, both on account of deferment in payment of taxes, as well as on the delay in payment of taxes beyond the financial year. On the flip side, where the tax paid exceeds the actual taxes due, a refund will arise in the tax return. Since the processing of refunds by the tax departments could take its own time, tax payers need to plan their tax payments in an optimal manner. Taxpayers could experience a short fall in payment of taxes due to various reasons. There could be a shortfall in TDS on salary income. This will typically arise where the employee has changed his employment during the year, and both the employers provide the benefit of lower rates of tax in the initial income slabs in computing the taxes. On aggregating the income and computing the taxes, there will be a balance tax due. A short deduction could also arise where the benefit of deduction for specified investments is provided by both the employers, or the employer provides the relief based on declaration from the employee, and ultimately the investment is not made within the financial year. The rates at which taxes are withheld on interest income, house property rentals etc. is generally lower than the personal marginal rate at which the individual is subject to tax. For instance, the rate at which taxes are deducted on interest is at 10 per cent, whereas a tax payer could be subject to tax at the rate of 30.90 per cent depending on his income level. Tax payers could consider meeting the above tax obligations in different ways:The Income Tax Act enables employers to include income declared by employees relating to an earlier employment, or income under other sources, and compute the tax withholdings accordingly. Salaried employees could provide information relating to the remuneration from previous employment to their employer for computing TDS. This will address the concern on short deduction of taxes. The employee could declare house property income, interest income, capital gains etc to the employer as well. With respect to losses, if any incurred by the employee, the employer is authorised to consider losses arising from house property alone. For instance, the employer is not authorised to consider capital losses. However, if the employee has a net capital gain (after setting off the losses), the employer could consider the net number in computing TDS. The above process will help the tax payer in reducing interest liability. Once the income is declared to the employer, and appropriate taxes are withheld, the employee will not have an interest liability even if the declaration to the employer is made during the later part of the financial year. On the other hand, under the advance tax mode, there will be an interest liability for deferment in payment of earlier installment of taxes. Since taxes are withheld from the salary on a monthly basis, employees could plan their cash flows as well. Tax payers could have concerns in sharing their personal income details with their employer and may prefer to pay the differential taxes in the form of advance tax. Tax payers having business income / capitals gains will also need to plan for advance tax payments. Arriving at a reasonable estimate of the revenues from business and the possible deductions for the entire year could be a challenge. Furthermore, in arriving at the taxable capital gain, the tax payer needs to consider possible set offs on account of capital losses which could arise during the later part of the financial year as well. An estimation of possible taxes that will be deducted at source on such incomes will need to be made as well. Meeting timelines is crucial, as interest is levied for deferment beyond the due date. For instance, even where the tax payer misses the timeline of 15 September, and remits the taxes within the same month, interest liability could be as high as 1 per cent per month till the subsequent due date of 15 December. Effectively the tax payer pays a 3 per cent interest on the shortfall, even for a minimal delay. With respect to capital gains, interest liability does not arise where taxes are paid up through the remaining installments of advance tax. For instance, when a tax payer has a capital gain income arising in the month of November, 60 per cent of the taxes due on such income needs to be paid by 15 December, and the balance by 15 of March. There will be no interest liability for non-payment of taxes in September. Interest liability is also triggered from the 1 of April of the subsequent financial year to the month of payment of taxes, when at least 90 per cent of the total taxes due are not paid by way of TDS or advance taxes. The estimation of taxes therefore needs to meet an accuracy level of 90 per cent. Needless to state, a certain amount of care and planning in the payment of taxes will go a long way in reducing the interest costs to the tax payer.Saraswathi Kasturirangan is senior manager at Deloitte Haskins & Sells
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It was sometime in mid 2009 that Google first came out with its Chrome strategy. Cloud computing wasn't the household name it is today and the idea of everything being on the web wasn't immediately understood. I may be in the minority here, but I think much more should have happened with Chrome than it has by now. Google could have owned the web in a far larger way today. One of the problems has been that the strategy has involved too many pieces with no integrated feel to them. Somehow, the glue that holds everything Google Chrome together, hasn't been sticky enough.At the same time, there are some who believe that the Chrome strategy was before its time – and perhaps still is. For Chrome notebooks to succeed, they need to drop below a certain price point and internet connectivity has to be an affordable given – like the air you breathe. For the browser to move beyond being a secure and clean alternative to other browsers, there need to be many more applications.But perhaps Google is finally moving forward with its strategy because it has just released the beta of its Chrome browser for Android. But don't jump to download it because it's only available to the privileged few happen to be cruising along on Ice Cream Sandwich or Android's latest 4.0 version. None ICS phones or tablets are in India yet, officially, so unless you want to take the unrecommended step of tampering with your Android phone and compromising its performance – wait.For those willing to take the risk however, Chrome for Android has come as a bit of a treat because it has some much wanted features. For one, with a Chrome to Mobile, you can send URLs to the ICS-running mobile device. So if you were looking through something and had to move away but you hadn't quite finished, you can zap the site to your phone. Many more extensions will come up with additional features, over time.Tabbed browsing, something peope who are regularly on the web cannot do without, is now slick in Chrome for Android. Tabs (unlimited) now look very neat because they auto fit and you can swipe through tabs on the screen. You can also flip thumbnails of tabs like you would do with cards. There's a lot of use of intuitive gestures and tilt the phone to move through tabs as well. Your desktop bookmarks are also accessible on the mobile device – and the other way around. The idea is of course to no longer have to think about whether you're on the desktop or mobile – the experience should seamlessly include all your devices.The browser pre-fetches data when you're browsing on Wifi, ensuring that you don't get into sites that could be malicious. The pre-fetching is based on your browser history. There's also a link preview that you can see through a little zoom which shows you enlarged small text so you don't click on the wrong link.Chrome for Android will eventually be the de-facto browser on Android devices, replacing the characterless featureless browser we currently have to work with. It's meant to be speedy, simple and visually delightful. That means you need a powerhouse of a phone or tablet. Anything less would have been full of stutter. Flash won't work in this browser – the focus is on HTML5.A browser is a critical part of a mobile device, but in many cases it hasn't been as nice as the device it works on. Users have added Opera Mini, Dolphin, and other browsers to get some of the features they don't get, including tabs and gesture browsing. It's unfortunate that Google's own browser has lagged behind its large Android footprint. Even with Chrome for Android, there are many kinks to be ironed out and there's no indication of when the browser will come out of beta. Whether it will become available to pre-4.0 Android devices is very unlikely. But this much is for certain: it's the way ahead for Google powered devices in the future.
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Fertise, an e-commerce portal has joined hands with "Gharpay - a door step cash payment network company to introduce CBD - Cash Before Devievey. E-commerce Companies are looking at different ways and means to improve their working capital and cash flow which has given rise to CBD. It is an advance payment option to the customers to pay for the goods bought online. Mahesh Murthy, Founding Partner-SeedFund says "we are happy to see Fetise's innovation of CBD as a method to get the best of both worlds - to allow those without plastic money to get the benefits of online shopping, as well as to reduce the overall cost to users by reducing the cost of returns or undelivered goods".This is just another in a long line of innovations that the industry needs to form a financially prudent set of practices that allow e-commerce companies to be a profitable set of businesses. Currently, this service is rolled out in 14 cities and will soon be scaled up to pan India within three months time. Abhishek Shah, CEO of Fetise.com. says "the Cash on Delivery model is convenient for the customers however it is not really helping the e-commerce companies as some of the customers place an order online simply to test if the COD - cash on delivery model really works and return the goods at the last minute. This behaviour is also giving a headache to the e-commerce companies as return orders convert into absolute inventory if not sold quickly".Manoj Jaiswal who heads the SCM at Fetise says "As an ecommerce company Fetise will always look towards building a great efficiency and profit making venture. CBD can change a look of e-commerce industry, we are going live with professional companies who can explore and serve CBD payment option efficiently. This will help customers & Fetise for convenient shopping experience".
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Attractive valuation has seen Maneesh Dangi, co-CIO at Birla SunLife Mutual Fund, going overweight on equity for the past 2-3 months, having invested around 65-70 per cent of his personal investable surplus in equity and the rest in short-term bond funds. Talking to Businessworld he feels the long-term refinancing operation (LTRO) in the Euro-zone has been the game changer eliminating credit risk and in turn will see equity market rallying for some more time. For the star fixed income fund manager, equity buzz is not getting any louder, however. He understands that growth (particularly EPS growth) is getting difficult for companies, but the valuation parameters still look good. In his debt funds, in the last one month, he has been moving out of government securities (G-Sec) and corporate bonds and is buying certificate of deposits (CDs) and 1 to 3 years of corporate bonds, as he sees them rallying in the coming days. Excerpts from the conversation: Was the CRR cut by RBI, a surprise and why? Were you ready for this surprise? Were you completely invested? If not, how much of a hit have you incurred since the cut and if yes, how much have you gained?It wasn't a surprise to us. We have been articulating for the past four months that RBI would be cutting cash reserve ratio (CRR) in January as inflation starts to appear lower and liquidity deficit begins to hurt growth. Interestingly, since we had a view on the CRR cut, we weren't under-invested in G-Secs in most of our flagship duration funds. CRR cut affects the G-Sec and corporate bond markets differently. Paradoxically, CRR cut is bad for G-Secs as it reduces the propensity of RBI to do open market operation (OMOs). It may be puzzling to some observers, but the ones in know of market dynamics would get it that most of the bullishness in G-Sec markets has been on account of OMOs (in which RBI buys back bonds from the markets). So as a fund house we had light positions in G-Sec and this paid off handsomely as yields moved up sharply after CRR cut. We had swapped out G-Sec positions in short term corporate bonds and that category of investment has done well for us.We think RBI would cut CRR in March again by 50 bps (There's small chance of higher cut as well). What is your outlook for the bond market?We expect RBI to cut interest rates by more than 100 bps over the next 9 -12 months which will cause a bull steepening of the curve, meaning short end rates will move down more than longer end rates. The rate cuts will benefit both corporate and government bonds. But we are more constructive on corporate bonds for two reasons. First, the uncertainty around the total pending borrowing of the government and second, because incremental CRR cuts are bad (marginally) for government bonds, as it reduces the propensity for OMOs. So we think, the current markets offer better opportunities for the corporate bonds, as easing liquidity creates better environment to own corporate bonds. Going ahead what would be the fund house strategy to invest?At the broader asset allocation level, our big view is that worst is priced in the risk assets and the time has come to add equities in the portfolios. As for fixed income, we favour medium-term corporate bonds over G-Secs and long-term corporate bonds, as liquidity is likely to ease and RBI is likely to cut rates over the next few quarters. We are investing in one-year CDs and in corporate bonds with 1 to 3 years' maturity. One year CD rates — currently trading at near 9.9 per cent — should get priced 100-125 bps lower over the second and the third quarter of 2012. While 2-3 year should get priced lower by 50-75 bps. What has been the impact on the fund house due to the new RBI guidelines on the liquid fund and liquid plus fund? How are you tackling the outflow?RBI guidelines have resulted in bank money drying from out liquid funds. MF industry has lost more than Rs 50,000 crore due to the RBI's guidelines on banks' investments in ultra short-term funds. Since the transition has happened over a long period of time, as RBI had intimated the industry about it long ago, mutual fund industry could tackle the outflow in a non disruptive manner. I remember last year you made good money for investors by keeping the money in short-dated securities. In current market condition where will you advice investors to invest? Currently where are you personally investing your own money and why?Investors will make money by investing in medium term corporate bonds as rates are likely to ease substantially over there. All my investments are split between some short term fund and equity funds. I am overweight on equity now. Today 65-70 per cent of my money is in equities, while the rest is in short-term bonds. I am not investing in gold. I see gold as insurance, investing during uncertainty and today will not like to pay heavy price to buy insurance. What is your take on the 10-year G-Sec yields and why?We are keeping away from G-Sec as the 10 year G-Sec will average at 8 per cent through the year, but it's likely to see some very low levels during the year. (This one is the most difficult to predict, but may be closer to 7.5 per cent during second and third quarter of the year, unfortunately it will not be a permanent adobe for it given the state of our profligate government). There are two levers working on G-Sec yields, one the easing rate bias that should induce lower yields and the other is very high fiscal deficit which should keep the pressure on yields. Next year will be the battle of both these forces and that should keep markets excessively volatile. I don't think G-Sec markets are going to trend in any particular direction.Will you be an investor in PTC, CD and CP in these markets and why? What are the yields you are looking at in these instruments?We are investors in all the instruments. Currently, CDs are favorable instruments as they offer very good yields and sufficient liquidity. One year CD is offering near 10 per cent yields. What is your view on the liquidity in the system? Why are bankers craving for more returns on their money — at least this comes to be seen from the auctions. What is your view and why?In my view, liquidity situation is likely to change quite dramatically in next couple of months. By April and May, RBI would have cut CRR as much to make sure that systemic liquidity is near neutral. Mostly, liquidity will remain neutral for many months after that. Financiers always crave to earn more on their money, but unless they collude, mere craving is futile. Its Mr Market, a collective force of all the participants' greed and fear, that drive the return or yields. Auctioned yields or Base rates are high because liquidity is deficient, and government seems to be crowding out private borrowing.Is the fund house seeing a flow of money in to the fund house? In the last six months how much of it is coming into fixed income and in which schemes? Over last 6 months, we have seen our duration funds garnering a lot of money. Dynamic bond fund, which has a mandate to run flexible duration of 1 to 3 years, has tripled in size.
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