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OLM Desk - 05 February 2022

Master The Tax-Saving Game

I have been paying taxes for around 25 years now and have come to the realisation that one should focus more on the returns of an investment rather than its taxation level. This is because the exemptions and the deductions allowed are too less to bother about too much. Of course, if someone is just starting off in their career, then it is important that they study their investments properly and understand the tax outgo that each has. However, with increased income and more responsibilities, the attention that can be paid to taxation becomes very little and the sole purpose of a good investment is the returns that it gives. The tax benefits are too little to count.

Sonali Khatri

Buy Now But Know How Much You’ll Pay Later

New financial instruments take time to settle. There are always teething problems, which get resolved over time. The same is with the buy now pay later (BNPL) schemes. A lot of these have been introduced to increase the traction with customers. There will be some problems such as misuse or even cases of fraud. But in the long term, this will become a readily accepted mode of transaction, as has happened with bank transfers and UPI. But before we can reach that level of comfort and trust, the BNPL providers need to ensure that their data is of high quality so that the right customers are tapped. Financing at the point of sale has a small share of unsecured lending now but is growing fast. Banks and fintech companies will increasingly play a role in this market as will merchants and consumers.

— Ankur Deshpande

Ensure All Is Not Lost

Most Indians are hesitant to talk about death, even though it is a given. The Covid pandemic has taught us how fragile our existence can be. Therefore, it is even more relevant to ensure that we have adequate funds or insurance for our loved ones to depend on. Anyone who is still hesitant to talk about life or health insurance or any other type of cover, is being foolish and is putting his or her family’s future in jeopardy.

— Kantilal Dhall

Constants & Variables