December 22, 2002
Invest wisely to multiply
by Sudhir Malik. Taxmann’s. Pages 269, Rs 200.
the title of the book might suggest that it is an addition to the
slew of similar books already in the market and on the tables of tax
practitioners but a cursory browsing of the book reveals that it is
off-beat. More than 80 per cent of the book has been devoted to
detailed discussions of various avenues for investment. This feature
makes the book a ‘must have’ for investors, particularly the
middle-level and smaller ones.
Full marks to the
author Sudhir Malik, Zee TV panelist on income tax and investments,
for explaining in a simple and lucid manner almost all products,
instruments and portfolios available in banks, post offices,
government schemes and in the market etc in which investors may
place their funds.
The book discusses 26
possible investment avenues and also takes note of the rates of
return and tax benefits, if any. This marks the book as different
for other books on the topic. The charts showing comparative rates
of return on investments on various accounts are both informative
Probably with a view
to lending sanctity to the activity of amassing wealth, the author
has quoted shalokas from the Rig Veda and the Mahabharata.
On wealth accumulation, the Sanskrit shaloka can be
translated to mean "Wealth should be earned, increased and
protected. If spent without earning, it will perish even if it is
like Sumeru mountain".