MY RECENT FAVOURITE SONG!

“Pehli baar mohabbat ki hai, Aakhiri baar mohabbat ki hai” sung by Mohit Chauhan from the movie "Kaminey" is my recent favourite. It becomes real tempting to hear the song as it proceeds with the short piano piece.
The lyrcis goes as:
Thode bheege bheege se thode nam hain hum
Kal se soye huwe bhi to kam hain hum
Dil ne kaise harkat ki hai
Pehli baar mohabbat ki hai
Aakhri baar mohabbat ki hai
Aankhein doobi doobi si surmayee madham
Jheelein paani paani hai, bas tum aur hum
Baat badi hairat ki hai
Pehli baar mohabbat ki hai
Aakhiri baar mohabbat ki hai
Khwaab ke bhoj se
Kap kapati huwi
Halki palke teri
yaad aata hai sab
tujhe gud gudana
satana
yunhin sotey huwe
gaal pey teepna..meechna..
bewajah besabab
Yaad hai
peepal ke jiske ghane saaye the
humnein gilhari ke jhhootey matar khaaye they
yeh barqat un hazrat ki hai
Pehli baar mohabbat ki hai
Aakhri baar mohabbat ki hai..

ASSET-BASED MAT-A BANE?

MAT (Minimum Alternate Tax) was introduced in 1983 because of the replication of the zero-tax paying company's strategy of the US in India. Plenty of Companies in the USA with huge pre-tax profits did not pay any tax at all! They used to declare huge dividends and escaped contributing to the fiscal income of the country. This seemed irrational, and hence various forms of MAT (AMT in USA) were introduced in various countries including India, USA, Mexico, etc, which was widely appreciated.

In India, the history of MAT from "deemed total income" to "deemed tax" to the current proposed "asset based" tax is as follows:

· Introduction of section 80VVA in 1983 which laid down certain restrictions on aggregate amount of deduction allowed from the total income and was applicable for AY 1984-85 to 1987-88.

· Then, section 115J was introduced on 1st April 1988 under which if the total income was less than 30% of the book profits, the total income charged to profits was 30% of the book profits. This was in operation for AY 1988-89 to 1990-91.

· In 1991-92, with a view to rationalize the tax structure, and discontinuance of Investment incentives, MAT was phased out.

· After 6 years, MAT was introduced in AY 1997-98 under section 115 JA.

· In the next year, in 1998-99, section 115 JAA was introduced to give effect to tax credit scheme by which tax paid under MAT was allowed to be carried forward for set-off against regular tax paid in subsequent 5 years.

· In 2000, another section 115 JB was introduced. Rather than computing "deemed total income", the focus was on introducing "deemed tax" for the computation of minimum deemed tax. The provision for credit under section 115 JJA was discontinued. MAT @ 7.5% of book profits was levied including surcharge.

· In 2005, Tax credit was again allowed under MAT.

· In 2006-07, MAT was increased from 7.5% to 10%, and the credit period increased from 5 years to 7 years.

· In 2007-08, this 11.33% tax was applied to IT companies which so far, have been exempt. Also, it was extended to some exempted export incomes.

· Finally, the MAT was increased from 10% to 15%.

With a view to rationalize the tax structure, the new tax code 2009, applicable from April 2011, brings out a radical change in the computation of MAT. It now would be 2% of the Gross Assets (Net Fixed Assets plus all assets excluding negative balance of P/L Account). The similar rates for banks would be .5%.

This seems to be completely absurd, and is bad news for the highly capital intensive companies like infrastructure or manufacturing and even IT companies. Recently, my VP had asked to study the impact of the new guidelines on one the projects we had appraised, and to my surprise, this MAT (terminology-wise) is no more "minimum". Infact, the normal corporate tax was much lower than MAT. Given, this new provision, the question of taking higher of the two, I presume, should not apply. But, the guidelines propose the higher of the two, which again defeats the original intent behind the introduction of MAT.

The Govt calls it a revenue neutral proposal, which, to my understanding is not so. MAT would force companies to pay tax inspite of their inability to pay! Since assets and ones profitability is de-linked, there could be a case where the Company is forced to pay huge MAT inspite of no/-ve pre-tax profits. Further, even the provision of phasing out of credit provision is being proposed in the bill. Thus, loss making infrastructure behind would be required to pay MAT, inspite of their inability. So, it would emerge as a huge bane. However, there seems to be little possibility of it going through.

WHAT IS LOVE?

The post cannot give a foolproof definition of "Love" but can offer a perspective on it.

Recently, I read this book-"Road Less Travelled" by M. Scott Peck and gathered different insights on the concept of love, traditional values and spiritual growth. I have coupled it with my understanding of the reading and for the purpose of the post have focused on aspects of love and spiritual growth only.

The definition of love (as per the web definition by goggling) is a strong positive emotion of regard and affection. But, this seems to be real generic definition. As per my understanding, the definition could be unique, and very specific to the individual. It is not definitely difficult to arrive at the consensus on the definition, nor is that required.

In order to explore more on a possible definition, the writer has asked some questions (including some of my thoughts) as-Can we love two people at a time? How long does the feeling of love remain? Why do people end up breaking-up after being committed to each other for some time? Does the feeling of love requires two people to stay together or is love all about separateness? Is love about sacrifice for the good of the other person? Is it essential to marry the person you love? and the list goes on.

M Scott defines love as "The will to extend one's self for the purpose of nurturing one's own or another's spiritual growth". Spiritual growth would mean reaching close to God..in simple terms as I understand it, it would mean becoming a better person.

So, love is not emotional attachment or dependency as per him but more of volition (a genuine will/cognitive process where one decides and commits to some course of action). For him, "commitment" is the most important thing for genuine love and not romantic love (which is mere expression of one's love for the other person, and may be, stems from physical needs). It is impossible to understand the other person without making room for the other person within ourselves, so, commitment is a pre-requisite for the same.

Also, falling is love is not an act of love, but temporary collapse of our egos to merge his/her identity with the other person, and its sudden release is the cause of all damage. When individual realize that each of the individual's have different likes, dislikes, desires, and they are not one individual, then it becomes difficult for them to accept the same, and may be, the cause of most break-ups.

I have always wondered that this feeling of love (as I hear it) should be a short-term process and must be lost after some point of time, and which may be, in author's language be the instance of realization by the individuals of their separate identity after they regain from the collapsed egos. But, the fact of the matter is that if two people like each other (not just as an emotional attachment), and see themselves as better person, then this phenomenon is no more a short-term process. As far as the dependency is less, it should not result in any complexities. And overtime, making love could be an act of expression of one's love. But, any relationship of love that is out of mere physical attraction is bound to suffer because making love is not an act of love but mere lust, as per the author.

Moreover, he also points out that marrying the person one loves is just a decision by the two of them and should not be an obligation. The two people who love each other might end up marrying because they see one's spiritual growth by being together. He talks of the concept of "open marriage" which I find difficult to accept and have not delved much into it. It is also more of a societal issue. The society we have, does not propagate such acts and our mind-sets are also similar.

Answering as to why people in genuine love do not wish being open with disclosing their feelings to the other person, he says, that we are all resistant to change. We all want "status quo" and are not willing to accept more responsibilities and hence do not want to be true to ourselves. But, he talks of the power of being true to oneself, and reading our mind, thoughts, feeling and ideas. In this context, he talks of the importance of dreams/unconscious self, which should be explored. We have 5% of the mind as the conscious self and the rest is the unconscious one, and hence, we should take out time to understand our unconscious self (dreams), give importance to any weird thought that come to our mind.

We can be psychotherapists to self provided we are willing to accept changes.

PHIR MILENGE!

The other day I was late at office and had called up a meru to come back home

to Powai. It was 10:10 pm when I left office. As usual, the driver (his name was Md Khan, i guess) asked me which way should I take you from, and unusually so, I told him wherever there would be minimum traffic (My road sense is pathetic).

All of a sudden, some discussion started on the safety of Meru. Then he said that we have this small screen in the cab where the passenger's name is being flashed and till the time, the passenger would reach the destination, it would continue flashing. (I think it must be flashing till the time the billing is done.) So, as per him, the drivers cannot do things like misbehaving, or taking from a longer path, smoking, etc because the GPS keeps tracking them with a screen at the call centre.

When I asked about their business model and the salary he draws, he said that each one of them are assigned one cab, and at the start of the night (their works hours being 11 pm to 10 am), they deposit Rs 700/ day with Axis Bank with the company account. And out of the entire amount they bill on one night, Rs 900 (Rs 700 deposited plus Rs 200 on fuel) is deducted and the balance is their earning per day.

Seems that each Meru cab gives the Company a fixed income of Rs 700/day.

When asked as to how people get qualified for driving, he said that they have a training (the guy who gives them the training draws a salary of Rs 75k/month) and then a series of exams (i guess, 8 in number). They are taught the manners like saying "aap" to passengers, not driving too fast even when insisted, not cosuming alcohol or smoking etc.

I reached home by 11:22 pm, and then suprising he said-"Phir Milenge!" I remembered this somewhat similar phrase being said by SRK in Rab Ne Bana Di Jodi..."Phir Milenege, Chalte,Chalte.. and he seems to have been inspired by that.

Express Yourself!

Isn't expressing oneself an art?

So true is this quote-

"People often feel something but express something else.They mean something but say something else..So learn the art of saying nothing in such a way that it leaves nothing unsaid…"

I wonder what results in most misunderstandings? Is it by expressing oneself or one's inability to do so? And does the ability to express depends on the grip over language, mode of communication,inherent willingness to make the communication ambiguous or the fear within?

Many a times, inspite of the willingness to do something, we end up doing the contrary, we really do not mean certain things, and just say things out of irritation, and it results in mis-communication. At times, things turn out very differently than we have wanted it to. Does the grip over the language of communication that differentiates between the two people expressing themselves differently? Is the "power of words" so important?

Or is it the mode of communication which matters too. I have immense experience of miscommunications through text chats/online chats. But, have seen, time and time, the mis-communications that happen even over a face to face conversation.

Why is there is a difference in the ability to people to xpress themselves? What can be an ideal way to express oneself?

(So thoughful is Airtel's tagline- Express Yourself!)

Missing Home

I came across this nice poem on missing home..

"Our lives are so busy and sometimes we live so far from our families. We miss the relationships with our families and often we do not even share important life events with them. We need to move back towards our families. If not in actual distance then at least we must move closer in our hearts. We live in a time where there are unprecedented communication possibilities. No one will ever love us unconditionally like our family can. We'd be fools not to take advantage of this opportunity. "

Inspite of all the unprecendented communication possibilities, no form of communication can replace staying at home. No one can pamper you the way our parents, and siblings do.

Feeling really homesick today :(

WHAT NEXT!!

What next?

A good schooling, an average college, a decent post graduation college, and an amazing organisation.....and what next?

Ever since, we understand the meaning of the term-"Independence", the quest begins...right from school days, plenty of career counseling sessions, questions to know the why’s and how’s of courses, and career paths, pros and cons of getting into each of them...but the obvious answer- "WE SHOULD CHOOSE A CAREER PATH THAT INTERESTS US"....

I still remember attending that one work-shop on career counseling in school and that was it...It was more of an informatory session for me... In high school, it was difficult to even understand what kind of career would have interested me...Infact, choosing one out of the three--Commerce, Arts or Science was the still easy...and it has been a spontaneous career planning since then....and without any regrets.

Shifting from Science to Commerce by calling my teacher at 9 pm, or taking up the CFA course, or getting a form for CAT/XAT was as spontaneous...

Completing a post graduation course and finally landing up to this work-life. Most decisions in life are driven less by choices but more by circumstances, and lack of alternatives. The only choice one makes is just during those career counselling sessions.... :P (But, with limited knowledge....like an inky pinky ponky, father has a donkey.... kind of a thing)

Ofcourse, the only thing and the most important choice, is to decide what one wants out of life...what is it that would last..What is it that is a true motivator….what is it that would not wear out…and it goes on….And the career counseling courses should exactly be focussed in pondering over these questions.

After completing post-graduation, it was all inquisitiveness to get into work-life and become independent like staying in a new city, away from home, and earning sufficient to sustain (As a friends says even after being into his own business for almost 3-4 years..."teen time dal-roti mil jata hain”: P)

All this feeling of independence lasts just for a couple of months...and then, one wonders...What next?

Had always heard that money is never a motivator and I too realised that by now... (As said by Bill gates- "Money is never a motivator in life, Say this only when you have earned enough). Nor because, I have earned enough, but because, I actually believe that there should be something else that would keep one going....and so, every morning I ask myself this question-“What next?” and I am still pondering for an answer.

What I can understand till now is-

"What everyone wants from life is continuous and genuine happiness", and one has to find a medium for it.

Happy Friendship Day :)

It is a gradual process. Starts with mere acquainatance with the other person, and before one can realise, they actually become friends.It is easy to make (not maintain)friends..Very easy, It is human tendency to look for companions and the fact that they are social animals makes it more imperative for them to have some people around who care for them, and are always around and overtime, they start sharing things with the other person that includes TRUST, understanding,intimacy, loyalty, and even misunderstanding....and then this is termed as "Friendship" But the degree of the these inputs might differ, and hence makes each of our friends unique.

I believe there are two ways to it-One is by default and other where you have put in genuine effort, and both, may go a long way. I call it by default because,being part of same school, college, office, etc, one ends up finding/picking some people, to can relate well, and become friends. Some would be with effort, where the frequency of meeting by default is lesser. And, it has to be mutual inclination in both the cases, else it does not go a long way.

But one thing which is a little to be worried about is the usage of the term-"Friendship". It is easy to use for any relationship under the sky. People generally use it for any relationship, even having met someone even for once, or may be, even when they are in love with the other person. In the latter case, it is still acceptable because I feel friendship is a precursor to any relationship. Be it daughter/mother, father/son or even two colleagues in office.

It is amazing feeling to know that you can count on some people at any hour of the day or night. But, it is a fact that the dynamics of this relationship changes overtime. I wonder if friendship is just about knowing a few people who would remember you when they need you, and be there with you, when you need them. Do they need to close to your day to day happenings in life, or even distances are fine?

But how long can distance keep that interest in friendship alive? Does friendship remain till one is a bachelor/spinster, because after that the respective priorities in life of a person changes, and leaves with him/her less time to care much about his friends, inspite of the desire to do so?

Why do girls relatively make better friends with guys rather than their own gender? Is it because of the logic that opposites attract? Then, y do guys get along with guys well, which is not the case with the fairer sex?

Wishing a wonderful Friendship Day to all my friends.

How Romantic !!

My latest addiction is:
A. R. Rahman's song from Delhi 6.

It goes like this:

rehna tu hai jaisa tu
thoda sa dard tu thoda sukun
rehna tu hai jaisa tu
dheema dheema jhonka ya phir junu
thoda sa resham tu humdum thoda sa khurdara
kabhi to ad jaye ya lad jaye ya khushboo se bhara
tujhe badalna na chahoon ratti bhar bhi sanam
bina sajawat milawat na zyada na hi kum
tujhe chahooon jaisa hain tu
mujhe teri barish main bhigna hai ghul jana hai
tujhe chahoon saahey
mujhe teri lapat main jalna rakh ho jana hai
tu zakhm de gar
marham bhi aake tu lagaye
zakhm pe bhi mujhko pyar aaye
dariya o mere yaar
doobne de mujhey dariya
rehna tu hai jisa tu
thoda sa dard tu thoda sukun
rehna tu hai jaisa tu
dheema dheema jhonka ya phir junu

haath thaam chalna ho
toh dono ke dayein haath sang kaise
haath thaam chalna ho
toh dono ke dayein haath sang kaise
ek dayain aage hoga ek bayain hoga
thaam le haath ye thaam le
chalna hai sang thaam le
rehna tu hai jisa tu
thoda sa dard tu thoda sukun
rehna tu… hai jaisa tu
dheema dheema jhonka ya phir junu
thoda sa resham tu humdum thoda sa khurdara
kabhi to ad jaye ya lad jaye ya khushboo se bhara
tujhe badalna na chahoon ratti bhar bhi sanam
bina sajawat milawat na zyada na hi kum
tujhe chahooon jaisa hain tu
mujhe teri barish main bhigna hai ghul jana hai
tujhe chahoon saahey
mujhe teri lapat main jalane rakh ho jana hai

People (in love or otherwise too) need not change themselves to please others, and this expression has been amazingly brought out in the song. It sends across the message that "STAY AS YOU ARE", and I am simply addicted to this song :)