@Leisure - Vol-27 | srei
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@Leisure - Vol-27


Got a tax refund? Treat it well!

Taxes can be either paid voluntarily or your employer deducts them as Tax Deduction at Source (TDS). If your salary is above the exempted limit, your employer will deduct a flat amount, towards tax, when paying out your salary.

You can save on TDS by investing in tax-saving instruments (up to a maximum limit of Rs.1.5 lakh) listed under Section 80C of the tax law like some Post Office savings schemes (NSC, PPF), pension plans, fixed deposits, infrastructure bonds, ELSS mutual funds, ULIPs, Senior Citizen Savings scheme, and submitting proof thereof to your employer. These reduce your Gross Taxable Income by the amount so invested.

Now it may so happen that your TDS amount at the end of year is greater than the tax actually payable by you, in which case you will get a tax refund, by submitting your TDS certificate on filing your tax returns. Take for example Rajiv, a salaried individual who earns Rs 50,000 monthly. After qualifying exemptions from tax and TDS, he has found out, at the end of the year, he is entitled to a tax refund. He is delighted beyond measure and already makes plans for its use. However, the actual refund takes about a year to arrive and Rajiv has quite forgotten about it. When he does receive it, he treats it like some lottery winning, of which he has unexpectedly been the recipient and treats himself to a new phone. This is the same money that Rajiv worked hard to earn and received after a long time, so he should have treated it with the same care as he would his planned investments. Instead, he treated it like a 500-rupee note found on the street that he took no time to spend.

A few ways to ensure that your tax refund money gets the care it deserves are as follows:

  • Change your 'mental accounting'- Tax refunds are not gifts, winnings or free money. It is your hard-earned money returned to you because you paid excess tax.
  • Treat your tax return better- When you receive your tax return, you can park the money in a liquid fund. This will give you short term returns and with the help of your financial advisor you can decide the long-term investment you would like to make with the refund money.


Tax refund money is not free money. This is your hard-earned money. Resist the temptation to squander away these funds but instead use the tax refund as an opportunity to make wise investments that will help you grow these funds into a large corpus in the future. Resist the temptation.


Srei makes strides in Aerospace industry

Srei Infrastructure Finance Ltd. is in the process of negotiating with the government of Andhra Pradesh in helping to set up an aerospace facility in the Anantapur district of the state.

The Aerospace facility:

This project will help the state see an investment of nearly USD 1 billion or Rs. 6,000 crore. This facility will be an all-round solution that encompasses manufacturing, servicing and repair of aircraft.

Progress so far:

A team sent by Srei has been interacting with the State IT Minister and the District Collector for facilitation of 500 acres of land for the purpose of setting up this facility. Suitable sites are being identified that can accommodate a project of this scale.


The project will bring in significant investment into the state and also help in making Andhra Pradesh a hub of global aviation. Already many multinational aerospace companies are looking forward to manufacturing in Andhra Pradesh.

Due to its experience in this area, Srei Infrastructure Finance Ltd has been approached by an aerospace major as well as the government to set up this aerospace facility in Anantapur. Srei hopes that this will help galvanise the local area and turn it into a major aerospace hub in the future.1

1 - http://www.thehindubusinessline.com/companies/srei-infra-to-help-set-up-aerospace-park-in-ap/article7512920.ece


Government's focus on better urban living

India is on the brink of a booming urban revolution, with as much as 40 per cent of the country's population expected to live in urban areas by the turn of 2031. While a UN-backed report pegs the gap in urban infrastructure investment in the country at USD 827 billion 2 over the next 20 years, the Indian government has approved an investment of Rs 3,120 crore (USD 463 million) to boost urban infrastructure.

While this Rs 3,120 crore investment is modest compared to the huge urban infrastructure investment needs, it will be key to improving the lives of a substantial urban swathe of India's population in 102 cities across five states, enhancing water supply, sewerage networks, non-motorised transportation systems and the availability of public spaces.

Who will benefit and how?

The Ministry of Urban Development approved the investment under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). Under the plan, Haryana (18 AMRUT cities) will be allotted Rs 438 crore, Chattisgarh (9 cities) Rs 573 crore, Telangana (12 cities) Rs 416 crore, Kerala (9 cities) Rs 588 crore, and West Bengal (54 cities) Rs 1,105 crore.3

In terms of projects, Rs 2,386 crore will be invested to improve water supply in 58 mission states, Rs 495 crore has been allotted for sewerage projects in 17 cities, Rs 106 crore for storm water drains in nine cities, Rs 61 crore for urban transport in nine cities, and Rs 72 crore for the development of green spaces and parks in all the 102 AMRUT cities.

The plan was approved by an inter-ministerial Apex Committee, chaired by Urban Development Secretary Madhusudhan Prasad, under the state-level Annual Action Plans for 2015-16 for the five states selected. The investments in the urban infrastructure projects were in line with the proposals of the respective state governments.

Boost for water supply and sewerage projects

The Ministry of Urban Development, which will provide Rs 540 crore assistance to the new schemes, has so far cleared a total investment of Rs 11,654 crore in 272 AMRUT cities to boost urban infrastructure and ensure water and sewerage connections to all the households in the designated cities, particularly to enable water supply at the norm of 135 litres per capita per day for urban areas.

As of now, only about 50 per cent of urban households have water connections, and water supply is inadequate at about 75 litres per capita per day, dipping to as low as 43 litres per capita per day in the city of Jind in Haryana. The new investment approval is expected to provide a major stimulus to the efforts to bridge this water supply deficit.

Boost for City Dwellers

The latest investment injection, aimed at improving the lives of city dwellers that deal daily with inadequate infrastructure, congested public spaces and lack of basics like water and sewerage, marks real development in progress and a much-needed stride forward for urban development.

2 - http://indiatoday.intoday.in/story/india-on-brink-of-urban-revolution-un-backed-report/1/383316.html
3 - http://articles.economictimes.indiatimes.com/2015-11-26/news/68582272_1_water-supply-rs-588-cr-water-and-sewerage-connections


Buddy Jokes


1. Whoever said that money can't buy happiness, simply didn't know where to go shopping.
- Bo Derek

2. This year, the closest I have been to a diet is by erasing food searches from my browser history.

3. The best tried-and-failed excuses by businessman gave for not paying their taxes on time:
Self-Employed Builder - My pet goldfish died.
Financial services firm - Our business doesn't really do anything.
Accountant - I have been too busy submitting my clients' tax returns.

4. The best way to get in touch with your long-lost relatives is - WIN A LOTTERY.


Buddy Quiz

Fill in the blanks:

1. The primary infrastructure in a _________ is its Information Technology (IT) Infrastructure.

2. The concept of a 'Smart City' was first introduced by _____ in 2008, as part of its 'Smarter Planet' initiative.

3. Srei Infrastructure Finance Ltd has been approached by an aerospace major as well as the government to set up this aerospace facility in ___________.

4. ________ is on the brink of a booming urban revolution, with as much as 40 per cent of the country's population expected to live in urban areas by the turn of 2031.

5. Private majors such as Ericsson, Essar group and others have pledged their support in the joint development of these '____________'.

Answer: 1: smart city; 2: IBM; 3: Anantapur; 4: India; 5: Smart Cities;