Why is it important to maintain motivation for studies?

Maintaining motivation for studies is important because it can help you stay focused and engaged in your studies, and ultimately help you achieve your academic and career goals. When you are motivated, you are more likely to put in the effort required to learn and succeed, and you are less likely to become discouraged or give up when faced with challenges.

There are many benefits to maintaining motivation for studies, including:

1. Improved grades: When you are motivated to study, you are more likely to put in the time and effort required to understand the material and do well on exams and assignments.

2. Increased confidence: Maintaining motivation can help boost your confidence in your ability to learn and succeed.

3. Greater sense of accomplishment: When you are motivated to study, you are more likely to feel a sense of accomplishment when you complete a course or achieve a specific goal.

4. Better time management: Maintaining motivation can help you prioritize your studies and manage your time more effectively, allowing you to get more done in less time.

5. Improved mental health: Studies have shown that maintaining motivation can improve mental health and well-being, as it can help reduce stress and improve overall quality of life.

Motivation can be defined as the mental or emotional energy that provides a person with the desire to do something. It is a feeling of excitement or enthusiasm about something or a strong wish that something should happen.

There are many reasons for maintaining motivation for studies and these include:

-It helps us to stay focused on our goals

-It helps us to maintain an optimistic outlook

-It helps us to stay disciplined in our efforts

-It helps us keep going when we feel like giving up

Here are a few tips for maintaining motivation for studying:

1. Set clear goals: Having a specific goal in mind, such as earning a certain grade or completing a particular course, can help keep you motivated and focused.

2. Break your studies into manageable chunks: Rather than trying to tackle a large project or course all at once, try breaking it down into smaller, more manageable tasks. This can help you make progress and feel a sense of accomplishment as you complete each task.

3. Find ways to make studying enjoyable: Experiment with different study techniques and find what works best for you. Some people find it helpful to study with music or in a group, while others prefer to study alone in a quiet space.

4. Take breaks: It's important to take breaks and give yourself time to relax and recharge. Taking breaks can help prevent burnout and keep you motivated to continue studying.

5. Seek support: If you are struggling to stay motivated, consider seeking support from friends, family, or a tutor. Having someone to support and encourage you can make a big difference.

6. Reward yourself: Treat yourself to something special when you reach a study goal or complete a difficult task. This can help motivate you to keep working hard.

7. Stay positive: Try to stay positive and focus on your progress, rather than dwelling on any setbacks or challenges you may encounter.

Remember, it's normal to have ups and downs when it comes to motivation. The key is to find what works for you and to be kind to yourself when you are struggling. With a little effort and determination, you can maintain motivation and succeed in your studies.

Jai hind!

Civil Services as a career choice

Civil service is a career choice that offers a unique opportunity to serve the nation and make a difference in the lives of people. It is a noble profession that requires dedication, hard work, and a commitment to public service. There are various agencies and departments that make up the civil service, including the Indian Administrative Service (IAS), Indian Police Service (IPS), Indian Revenue Service (IRS) and Indian Foreign Service (IFS), among others. These services are responsible for the administration and management of various government functions, including law and order, revenue collection, and foreign affairs.

One of the main benefits of choosing a career in the civil service is the opportunity to work in a variety of fields and locations. Civil servants have the opportunity to work at the national level, as well as in states and districts across the country. This allows them to gain a diverse range of experiences and develop a broad set of skills. For example, a civil servant in the Indian Administrative Service (IAS) may work in areas such as policy development, law and order, revenue collection, and education. Similarly, a civil servant in the Indian Police Service (IPS) may work in areas such as crime investigation, traffic management, and community policing. And a civil servant in the Indian Foreign Service (IFS) may work in areas such as diplomacy, trade, and cultural exchange. Indian Revenue Service (IRS) Officers may be engaged in tax assessment and financial fraud investigation along with international taxation and cross border tax evasion.

Civil servants may also work at the state and local levels, where they are responsible for implementing policies and decisions that affect their communities. For example, a civil servant in a state education department may be responsible for implementing policies and programs related to school funding, curriculum development, and teacher training. In addition to implementing policies and decisions, civil servants may also play a role in the policy-making and decision-making processes themselves. This may involve providing advice and recommendations to elected officials and other decision-makers based on their expertise and experience.

For example, a civil servant in the Ministry of Finance may provide recommendations on budget allocation and economic policy based on their knowledge of financial trends and analysis. Similarly, a civil servant in the Ministry of Health may provide recommendations on healthcare policy based on their knowledge of public health issues.

Another advantage of a career in the civil service is the potential for advancement. Civil servants have the opportunity to rise through the ranks and take on leadership roles within their agencies. They also have the opportunity to pursue further education and training to enhance their skills and expertise.

For example, civil servants may be able to pursue advanced degrees in areas such as public administration, policy analysis, and law. They may also be able to participate in leadership development programs and attend professional workshops and seminars.

Another advantage of a career in the civil service is the potential for advancement. Civil servants have the opportunity to rise through the ranks and take on leadership roles within their agencies. They also have the opportunity to pursue further education and training to enhance their skills and expertise.To be eligible for a career in the civil service, individuals must meet certain educational and age requirements. In addition, they must pass a competitive examination, which is held annually by the Union Public Service Commission (UPSC). The examination consists of written and oral components (Prelims, Mains and Interview), and candidates are evaluated on their knowledge of subjects such as current affairs, history, economics, global relations, public administration among others as well as their communication and leadership skills and aptitude.

While a career in the civil service can be rewarding and challenging, it also comes with its share of challenges. Civil servants are expected to work long hours and may be required to work in difficult or hazardous conditions. They may also face criticism and scrutiny from the public and media.

Despite these challenges, a career in the civil service can be a fulfilling and rewarding experience for those who are passionate about making a difference and serving their communities. It is a unique opportunity to contribute to the development and well-being of the nation, and to work towards the greater good of society.

The students are encouraged to refer to the Union Public Service Commission (UPSC) official website: This website provides information about the civil services examination, including the eligibility criteria, examination syllabus, and application process. It also provides access to past exam papers, which can be helpful for practice and preparation. https://www.upsc.gov.in/

Also refer to the Ministry of Personnel, Public Grievances and Pensions: This ministry is responsible for the administration of the civil service in India. The ministry website provides information about the different agencies and departments that make up the civil service, as well as policies and programs related to civil service development and reform.

Jai Hind!

Civil Services Examination – Step by Step

I thank whole heartedly dear Tanuj Mathur, old friend and currently placed with Amity Lucknow Campus, who invited me to host a webinar on civil services exam preparation as a part of career counseling series for the students of liberal arts and business school. I was really happy and content to have done it.

The recording of the webinar is attached below. It can be viewed on Youtube as well on my channel. I have made all the efforts to outline the civil services preparation strategy with few practical and relevant tips deriving from my own experience.

In this webinar, you'll get to know about: 1. Making up your mind for this Exam 2. How to choose a subject (optional) 3. Word about coaching institutes 4. Place of preparation 5. Study material 6. Finances 7. Answer Writing 8. Day scheduling 9. Productivity resources 10. AND, lots of motivation.

It would be more gratifying if I could see few successful students from Amity Lucknow Campus in the years to come.

Cheers!

Create a System of your own - Reject Autopilot Mode

We are all so overwhelmed by the current situation during this pandemic that most of the times emotions and stress drive our day. With these challenging times, our routines have gone for a toss. Working from home has actually changed the perspective with which we used to see through the day. During the initial days, when the Lockdown was very severe, procuring ration for the house was the most important agenda. But over a period of last 2-3 months, most of us have accepted this as new normal. When things are not planned during the day and we see the day through on its own, it’s basically an auto-pilot mode on which we are running. This needs to be changed and stopped if we want to create some value for ourselves and for others.

This calls for a creation of a system which can help us steer through the day more productively. I faced this challenge mainly on 4 fronts: as a father, as a husband, as a Government employee and as a Boss to my immediate staff. Then I sat sown one day to reflect upon what I was doing, what were my plans for the coming months and how do I intend to achieve them. I realized the importance of solitude. It’s so vital to be on your own at times doing the stuff that you like, planning your calendar and carving your niche day by day.

I have started using the TODOIST app which is keeping me on my toes every day in and out. It has driven me to do the meticulous planning. And accordingly, I have created a system of my own which works for me. Today, being a Sunday, June 14, 2020, is my Review Day and a planning day for the upcoming week. This is really helping me populate my calendar for the coming week so that I am not lost during the week searching for the stuff I need to do as now I already know what are my high priority jobs which needs to be accomplished beforehand. Populating your calendar is such an important concept. Jot down the important areas of your life where you want to work. The starting point can be your major goals. Then they can further be divided into smaller bit by bit achievable goals which can be spread out over the weekdays setting different levels of priorities. This is a discipline I really feel we all as professionals or students need to inculcate. This ensures that we are not driving our life in an autopilot mode and accepting what comes as it is. Personal Discipline is a muscle. The more you stretch it, the stronger it grows.

Further, I have realized the importance of using FEEDLY app. This brings to you the feeds of the websites that you have subscribed to. You need not visit those pages. Whenever a new article is published, you get intimated and updated accordingly. This is such a great productivity tool.

I have my major feeds in Feedly, for instance, Fitness, Parenting, Editorials, Photography, Candlesticks, Relationships, Transfer Pricing, Productivity etc. What I do is I spread these feeds over the coming week and dedicate one hour during a day for that particular feed. For e.g., Monday is my day to read the Editorial feed. Here, I read all the major articles of the newspapers I have subscribed to and grab the ideas from therein.

Also important is to use the EVERNOTE app along with it. Its primarily a note making app. So, while reading, if I come across something interesting grabbing my attention, I don’t waste time clipping it to the relevant notebook in Evernote. Likewise, Tuesdays dedicated for Parenting, Wednesdays dedicated for Stock Market Candlestick charts etc.

Recently, I have also drawn a list of online tutorials which I need to study. This is such an important area which many of us may not delve into. This may include productivity masterclass, Creative writing, photography tutorials, MS Excel ninja, Transfer Pricing Webinars etc. You can cover up the areas wherein you are interested in.

This creation of a system will help us lead a more meaningful, productive and energy driven life. It’s all a game of will power. World class will power is not an inborn strength, but a skill developed through relentless practice.

Cheers!

Talk at Advani Law College

I’m so grateful and thankful to Dr Santhi Dasari for inviting me as a guest of honour in the annual elocution competition in the college today. It feels so good to interact with the students at this age you know the prime age when it’s time to take decision for the life when it’s time to decide upon the careers what exactly they are going to do in their life usually what happens at this age of 25 to 30 people are not very sure what exactly what they going to do in the rest 30 years of their life. 

Reiterating my point here which I discussed in the talk about the technique of AIR. This means associating the things with the next object and imagining it in the most ridiculous manner. Association imagination ridiculous Being the key terms. I just thought I’ll discuss this concept with the students who had come over for the elocution competition you know it’s so important for children to be confident in the art of public speaking at times what happens is when ever you come on to the stage you mind turns blank and then you realise the importance of remembering the points and that’s where the technique of AIR comes in handy. Beat elocution competition over the PowerPoint presentations which we generally give coming onto the stage and facing the audience it becomes all the more imperative that we remember the points that need to discuss as we do not want to lead our discussion in a haphazard manner. The AIR technique helps us to remember the points exactly in the same sequence so that we have a fruitful discussion in a sequin shall manner the way we want to and which will enthrall the audience. 

Then I love talking about the clarity in life as at this age of 25 to 30 years people do not realise that the decisions that they will take during this span of the life time will affect and impact their lives after 30 years of their life. My professor of sociology in New Delhi used to tell us that people who slog their ass during first 30 years of their life live like a king during the next 30 years of your life and those who don’t the lesser it is said the better. It is a general tendency among people to live the life of mediocrity people are very shy to come out of their comfort zone they don’t want to do things going out of their own way whenever they feel discomfort they step back and don’t take an extra effort to excel in life these kind of people comprises the 95% lot in society. I really feel that people should take an extra effort in their life to come out with a different kind of magic in their life by toiling hard day in and day out and achieving excellence in their trade in their sphere of work. It is easy for us to toe the line of others but we tend to forget that everybody is running their own race what the other person is achieving in their life it’s not necessary that we should achieve the same as we may be in a different zone altogether. Coming out with excellent results in your life can happen only with your daily rituals what kind of daily habits you have inculcated what all new habits you are ready to inculcate are you ready to take the plunge are you ready to  go for an extra mile are you ready to track your progress are you ready to master the new skills are you ready to read are you ready to surround yourself with noble thoughts are you ready to become a master of your trade are you ready to go for killing are you ready to put in a dedicated hard work for hours and hours together without distraction. ?? 

Become a super productivity NINJA in your life and then see the reaction of others around you !! You will shine like a star. 

Best wishes!

Management Fees and Transfer Pricing Audit

The payment of management fees falls under the intragroup services that are being availed by the associated enterprises. Here I am going to discuss the striking point for the transfer pricing officer w. r. t. this transaction while doing the TP Audit. 

In one of the cases the assessee had been showing the payment of management fees to its associated Enterprises outside country and for three years in continuation the transfer pricing officer made an adjustment on account of payment of management fees which was determined at a basic minimum as it was discussed by TPO in the order that such huge amount of payment fees is not required to be made. Further it was ascertained by the transfer pricing officer that this payment of management fees falls under the category of shareholder activity. 

Subsequently for two assessment years it was seen that there was no transfer pricing reference made in the case under section 92CA(1). During the course of transfer pricing audit it was noticed that the assessee has shown various expenditure heads in its form 3CEB. These expenditure heads appeared to be dubious as they all fell into the category of intra group services. Hence in order to investigate this transaction further form 3CEB was called for for the previous five assessment years and the transactions reflected in the year under consideration were compared with the transactions reflected in the previous five assessment years. The detailed investigation revealed that the assessee in order to avoid the TP adjustment under the head payment of management fees had shown this excess payments under various different heads falling into the category of intra group services. Interestingly payment of management fees was not shown in the year under consideration. So the assessee had cleverly disguised the payment of management fees into various different other kinds of payments made in the year which were all new transactions occurring for the first time. The important point to note here is that there has been no significant change in the FAR analysis of the assessee. 

Hence it is important for the transfer pricing officers to keep their eyes and ears open while concluding the transfer pricing audits. 

Cheers!

Tryst with Transfer Pricing

Hello everyone

Hope you all are Leading a focused life with clear written goals. They are so very important in bringing clarity in what you are doing and what we plan to do. I just thought of penning my thoughts down as I am at such an important juncture of my life wherein I have to take some very important decisions which would mark a new beginning and Pave a way for my future. Seven years in Mumbai have come to an end. 

This is my second year in transfer pricing as a transfer pricing officer in Mumbai. I have thoroughly enjoyed my tenure the first year has gone by and the second year has begun with some new experiments some new learning some new thoughts. Transfer pricing as a subject is quite technical but after having experienced it and practised it for one year I realised the fact that it is more of a common sense. Nevertheless there is no substitute for a thorough understanding of the subject as they say that knowledge is power and the knowledge of the subject brings a lot of power in the forms of confidence greater understanding and analytical bent of mind. 

Transfer pricing basically pertains to determination of arms length price of the transactions between the related parties. Herein, we try to compare the transactions between two related parties with the transactions between the AE and non-AE And then try to determine whether the price charged by the assessee from the AE is at arm’s-length or not. Then we have certain methods prescribed in the income tax act and we have the comparability analysis the statue makes it very clear As to which method is to be applied when. The income tax rules becomes very significant here as a detailed analysis of the methods prescribed are delineated along with the use of multiple year data and examples thereof. 

The transfer pricing was introduced in India by the Finance act 2001 and since then we are almost about to come to an end of the second decade. The subject has evolved and so have the rules. I have met so many chartered accountants during my one-year tenure in this field and I have heard them saying that transfer pricing is of no use because it is based on estimation. But my dear friends have forgotten that with the rise of globalisation the companies are having more number of international transactions between them there are so many multinational corporations coming up and they have their own subsidiaries and related parties set up in different countries for ease of business. Here comes the role of transfer pricing to investigate whether there is any evasion of tax or shifting of profits from High tax jurisdiction to low tax jurisdiction on account of related party transactions. In view of this how can the role of transfer pricing become insignificant in the new world order. 

I am open to queries on the fundamentals of transfer pricing and its usage. 

Cheers!