INCOME TAX RATE 2010-11 ,SLAB RATE ,MAJOR EXEMPTION & DEDUCTIONS

Friends,

Income Tax Rates


(For Individuals, HUFs, Association of Persons, Body of Individuals)

ASSESSMENT YEAR 2011-2012

RELEVANT TO FINANCIAL YEAR 2010-2011

download the complete page in PDF format from link given at the end of the post.

  I TAX RATES FOR INDIVIDUALS OTHER THAN II & III BELOW


Upto 1,60,000 - Nil

1,60,000 to 5,00,000 - 10% of the amount exceeding 1,60,000

5,00,000 to 8,00,000 - Rs.34,000 + 20% of the amount exceeding 5,00,000

8,00,000 & above - Rs.94,000 + 30% of the amount exceeding 8,00,000

II TAX RATES FOR RESIDENT WOMEN BELOW 65 YEARS

Upto 1,90,000 - Nil

1,90,000 to 5,00,000 - 10% of the amount exceeding 1,90,000

5,00,000 to 8,00,000 - Rs.31,000 + 20% of the amount exceeding 5,00,000

8,00,000 & above - Rs.91,000 + 30% of the amount exceeding 8,00,000


III TAX RATES FOR INDIVIDUAL RESIDENTS AGED 65 YRS AND ABOVE

Upto 2,40,000 - Nil

2,40,000 to 5,00,000 - 10% of the amount exceeding 2,40,000

5,00,000 to 8,00,000 - Rs.26,000 + 20% of the amount exceeding 5,00,000

8,00,000 & above - Rs.86,000 + 30% of the amount exceeding 8,00,000

There is no surcharge in the case of every individual, Hindu undivided family, Association of persons and body of individuals.

EDUCATION CESS

The amount of Income-tax shall be increased by Education Cess of 3% on Income-tax.

EXEMPTIONS/DEDUCTIONS FROM SALARY

1. VOLUNTARY RETIREMENT – 10(10C)

Amount received or receivable (ie.,in instalments) by an employee on his voluntary retirement in accordance with any scheme of Voluntary Retirement is exempt to the extent of Rs.5,00,000, provided the VRS is in accordance with Rule 2BA of IT Rules. However no 89(1) relief can be claimed.

2. HOUSE RENT ALLOWANCE EXEMPT U/S.10(13A) – Read with Rule 2A of IT Rules 1962

a) Actual HRA received : Rs.xxxx

b) Rent paid in excess of 10% of Salary : Rs.xxxx

c) 50% of Salary in Metro Cities or

40% of Salary in other cities : Rs.xxxx

Least of a), b), c) is exempt.

NOTE: Here Salary means Basic Salary as well as DA if the terms of employment so provide.

3. CONVEYANCE ALLOWANCE:

Any allowance granted to meet the expenditure incurred wholly, necessarily and exclusively on conveyance in performance of the duties of office and so certified by the employer is exempt u/s.10(14).

4. TRANSPORT ALLOWANCE:

Any allowance granted to an employee to meet the expenditure for the purpose of commuting between the place of his residence and the place of his duty to the extent upto Rs.800/- per month is exempt u/s.10(14).

5. MEDICAL REIMBURSEMENT:

An amount of Rs.15,000 or the actual amount reimbursed by the employer whichever is less is exempt u/s.17(2).

6. PROFESSION TAX :

Profession Tax levied by the State Government is allowable as a deduction from Gross Salary provided it has been paid.

DEDUCTIONS FROM HOUSE PROPERTY

1. DEDUCTION U/S.23(1) : For let out property, amount actually paid by the owner towards taxes levied by any local authority in respect of the property is deductible from Annual value(taxes pertaining to any previous years).

2. DEDUCTION U/S.24(a) : For let out property, deduction of 30% of the Net Annual Value is allowed. No separate deduction for Repairs, Collection Charges, Insurance Premium, Annual Charge and Ground Rent.

3. INTEREST ON BORROWED LOAN(U/S.24(b)):

FOR SELF OCCUPIED PROPERTY

a. If Property is acquired or constructed with loan taken after 01/04/99 and construction is completed within 3 years from the end of the financial year in which the capital was borrowed – Rs.1,50,000 or actual interest paid/payable whichever is less is deductible.

b. If new housing loan is taken for repayment of old loan (old loan taken after 1/4/99) – Rs.1,50,000 or actual interest paid/payable whichever is less is allowed as deduction.

c. If Property is acquired or constructed with loan taken before 01/04/99, Rs.30,000 or actual interest paid/payable whichever is less is allowed as deduction.



d. If loan taken for Repairs, renewal, reconstruction of property, Rs.30,000 or actual interest paid/payable which ever is less is allowed as deduction.

FOR LET OUT PROPERTY, actual interest paid/payable can be claimed as deduction.

ONLY OWNER OF THE HOUSE PROPERTY CAN AVAIL THE ABOVE DEDUCTIONS.

CAPITAL GAINS:

With effect from 01/10/2004, Long Term Capital Gains arising on sale of equity shares or unit of equity oriented fund through recognized stock exchange is exempt if such transaction is chargeable to Securities Transaction Tax (u/s.10(38)).

Short Term Capital Gains arising on sale of equity shares or unit of equity oriented fund through recognized stock exchange is subject to tax at the rate of 10% if such transaction is chargeable to Securities Transaction Tax.

EXEMPTION U/S.54EC:

The Capital Gain arising out of sale of long term capital asset can be invested in National Highways Authority of India, Rural Electrification Corporation Limited, within six months from the date of sale subject to a ceiling of Rs.50 lakh during any financial year.

(Lock-in period is 3 years)

Cost Inflation Index for the F.Y.2010-11 is 711.

STANDARD DEDUCTION FOR FAMILY PENSION U/S.57(iia):

An amount of Rs.15,000 or 33&1/3% of family pension whichever is less is allowed as deduction. If an assessee receives arrears of family pension, then Relief u/s.89(1) can be claimed by him.

Family Pension received by the widow or children or nominated heirs, as the case may be, of a member of the armed forces(including para-military forces) of the union, where the death of such member has occurred in the course of operation is exempt.

EXEMPTIONS – OTHER SOURCESAny income by way of Dividends from company, Income received in respect of units from the Unit Trust of India, Income received in respect of the units of a mutual fund are exempt.

 FRINGE BENEFIT TAX (FBT)


In view of discontinuance of Fringe Benefit Tax from A.Y.2010-11 onwards, the value of specified fringe benefit and amenity is not chargeable to tax in the hands of employer. Consequently under sub-clause (vi) of Sec.17(2), provides that the value of any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the employer, or former employer, free of cost or at concessional rate to the employee is a perquisite chargeable to tax in the hands of the employee.

PENALTY U/S.271F: If a person who is required to furnish a return of income as required under section 139(1) or by the proviso to that sub-section, fails to furnish such return before the end of the relevant assessment year, shall be liable to pay by way of penalty a sum of Rs.5,000.

INTEREST U/S.234A: Where in any financial year, the return of Income of any assessment year u/s.139(1) or 139(4) or in response to a notice u/s.142(1), is furnished after the due date as specified in sub-section 1 of section 139, or is not furnished, the assessee shall be liable to pay simple interest at the rate of one percent for every month or part of a month comprised in the period commencing on the date immediately following the due date.

INTEREST U/S.234B: Where an assessee who is liable to pay advance tax(where tax liability exceeds Rs.10,000 after TDS) under section 208 has failed to pay such tax or, where the advance tax paid by such assessee under the provisions of section 210 is less than 90% of the assessed tax, the assessee shall be liable to pay simple interest at the rate of one percent for every month or part of a month comprised in the period from the 1st day of April following the financial year.



INTEREST U/S.234C: Where an assessee other than a Company, who is liable to pay advance tax (where tax liability exceeds Rs.10,000 after TDS)under section 208 has failed to pay such tax or,

1) The advance tax paid by the assessee on his current income on or before the 15th day of September is less than 30% of the tax due on the returned income or the amount of such advance tax paid on or before the 15th day of December is less than 60% of the tax due on the returned income, then, the assessee shall be liable to pay simple interest at the rate of one percent per month for a period of three months on the amount of the shortfall from 30% or, as the case may be, 60% of the tax due on the returned income.

2) The advance tax paid by the assessee on his current income on or before the 15th day of March is less than the tax due on the returned income, then, the assessee shall be liable to pay simple interest at the rate of one percent on the amount of the shortfall from the tax due on the returned income.

DUE DATES FOR FILING RETURN OF INCOME : All Individuals/HUF/Firms deriving Income from Salary, House Property, Capital Gains, Business or Other Sources and not covered under section 44AB are required to file the Return of Income by 31st July of the assessment year. All Tax Audit Cases covered under section 44AB & Companies are required to file the Return of Income by 30th September of the assessment year.

MODE OF FILING INCOME-TAX RETURNS : All Individuals, HUFs & Partnership Firms who are required to get their accounts audited u/s.44AB are required to compulsorily file their income-tax return in ITR-4 electronically with or without digital signature. All companies are required to compulsorily file their income tax return electronically in ITR-6 with Digital signature.

PERMANENT ACCOUNT NUMBER: Every assessee is required to obtain 10 Alpha numeric Permanent Account Number (PAN) and quote the same in his returns, challans & correspondence. PAN can be obtained by applying in new Form No.49A at the designated Service Centres of UTITSL OR NSDL(Log on to our website). PAN is essential for processing the Return of Income and for giving credit for taxes paid. If a person who is required to quote his Permanent Account Number fails to do so or intimates or quotes false number, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of Rs.10,000.(S.272B)

To Know Your PAN, visit our website.

For PAN Grievances : UTITSL - e-mail - isw.bangalore@utitsl.co.in

NSDL - e-mail - tininfo@nsdl.co.in

TAX PAYMENTS: Advance tax payments and Self-assessment tax payments have to be made in Challan No.280. The BSR Code and the Serial No. on the counterfoil of the challan has to be quoted in the return of income.

Dena Bank invites Applications for Probationary Officers and Specailist Officers

Friends,

Dena Bank publishes all recruitment announcements in this section of the site. Please note this is for information purpose o­nly. Please keep visiting this section to check out latest Job Openings in Dena Bank.

For Details and Download Click Here 

CAREER IN PUBLIC SECTOR BANKS

Friends,

Banks are considered the backbone of a country’s economy. Its more true for a developing country like India. Indian Banking system is very strong. In the global financial turmoil that happened sometime ago, our country was least affected because of soundness of Indian Banking and Financial system. In fact many countries of the world are trying to learn lessons from our disciplined system of Banking.

Banks in India are not only strong but are also growing fast. According to studies. Banking sector is one of the fastest growing sectors in the country. This growth has brought many opportunities.

Indian Banking Scenario

Regulation of Banking system in India started with Banking Regulation Act, 1949. Banks in India used to be in private hands. In 1969, 14 big private banks were nationalised bringing them under the ownership of government. After 11 years, in 1980, six more banks were nationalised. Of these 20 banks, one New Bank of India got merged in Punjab National Bank. Now in all there are 27 public sector banks in the country consisting of 19 nationalised banks and 8 banks from State Bank group (State Bank of India and its associates).

In the last two decades Public Sector Banks in India have witnessed a transition from traditional banking to modern technology driven banking. Exposure to competition has made these banks re-engineer and re-structure their processes, systems and product line. After economic liberalization these banks have been given enough freedom to do so. However, for various matters these are required to follow guidelines issued by Ministry of Finance, Reserve Bank of India and Indian Banks Association.

Post nationalisation, the Banks were asked to open more branches in rural areas. Large number of people were recruited to man these newly opened branches. Expanded network gave a new identity to these banks and millions of new customers came to the fold of Banking. The business of Banking moved from class banking to mass banking.

Manpower requirements

Public sector banks in India employ more than 7 lakh people at present. Of these a large number of people will be retiring in next 5-6 years. To fill this gap and to take up the growing business the Banks are on a recruiting spree as can be seen in media and from vacancy announcements. Only this year about 40,000 vacancies have been created in public sector banks due to retirements, resignations and expansion of business.

Earlier recruitments in public sector banks were made through Banking Service Recruitment Boards. Each board was taking care of manpower requirements of 3-5 banks in a certain geographical area. Now the boards have been abolished and each public sector bank may announce it’s own recruitment process for the number of people required from time to time. Thus more such advertisements are seen these days. Another change is seen in lateral hiring by these banks. Earlier officers were recruited only in Junior Management Grade. Now public sector banks are offering direct  employment in middle and senior management cadres as well. Thus for both freshers and experienced people career opportunities are available in public sector banks. To meet their manpower requirements these banks are presently recruiting in large numbers both in clerical and officer cadre.

Clerical Positions

A clerk is mostly a front staff in a bank. Depending on the requirement clerks are placed at different counters of the banks e.g. savings, deposit, current deposit, term deposit, retail loans, cash credit, agricultural loans, credit cards, government business, cash receipt or payment etc. Maximum customer interface in banks occurs at these counters managed by clerical staff.

Eligibility for Clerks

The minimum age for applying for the position of a clerk in nationalised or private sector banks is 18 years. The maximum age limit is 28 years. There is no uniformity with regard to educational qualification for eligibility. This becomes clear from the recently advertised positions of clerks in different banks. In one bank graduates with minimum 40% marks are considered eligible while another banks is accepting candidates with 60% marks in aggregate in 12th standard. Those having an university degree (in any class) could also apply. This bank has put another condition of having secured minimum 60% marks in mathematics at SSC/10th standard. As most of the recruitment s in clerical cadre in public sector banks are made state-wise, the candidate applying for the post in a particular State is expected to be proficient in the language of the State. Proficiency means knowing to read, write, speak and understand the language.

Examination pattern for clerks

Eligible candidates are asked to appear in a written examination. This written examination is objective in nature consisting of four papers viz

1. Test of reasoning ability and numerical aptitude
2. Test of clerical aptitude
3. Test of English language
4. Test of General awareness

The structure of written examination may differ from bank to bank. To qualify in the written test the candidate should pass in each of the objective test separately with required minimum qualifying marks. It is also necessary that the candidate obtains a certain percentage of marks to be eligible for moving to next stage of selection.

From those who get the qualifying marks as above, the bank calls a fixed number of people to appear in the interview process. The number of people called for interview is in a certain proportion of available vacancies. This interview is a simple process in which question about candidates’   academic and cultural background, career goals etc. are asked. Effort is also made to know about his aptitude for the job and customer orientation etc. Most of the people applying for a clerks position in the bank are fresh from college. They should be ready to answer questions about their choice of subjects, streams etc. From people who are employed or have work experience, questions may be asked about the job or assignments they have been handling. In case of interview also minimum qualifying marks are prescribed.

The final merit list is drawn by adding up marks obtained by the candidate in the written test and interview.

Career Prospects

Finally selected candidates can look forward to a fruitful career in the bank, they join. All public sector banks provide training to new employees for equipping them to take up their assignments. Induction training which happens immediately or soon after joining is the first training programme they attend. Subsequently they are offered training in various banking disciplines.

Public sector banks are few organisation which offer promotion from one cadre to another. Thus those who join as clerks may be promoted as officers, as per banks norms. For bright candidates, in some banks, this promotion from a clerk to officer is possible in a period as short as one year.

Recruitments in Officers cadre

Vacancies in officers cadre in public sector banks are filled from within the organisation after promotion of clerks and also by direct recruitment. To meet the shortage of manpower in officers cadre, now a days the public sector banks are required to recruit large number of officers. Most of the vacancies for which recruitments are made are in Junior Management Graduate Scale I, which is the entry level position for joining a public sector bank as an officer. This entry level position is known as that of probationary officer or management trainee. Bank probationary officers can come from any discipline or field of study, although there is a misconception that only people from commerce or finance background are eligible. A finance or commerce background may help the candidate adjust to the banking environments faster than others but banks recruit talents from diverse backgrounds of science, literature etc.

The minimum age to apply for entry level officers position is 21 years while maximum age may be 26 years or above as decided by individual banks. As regards qualification, the candidate should at least be a graduate from a UGC recognised university. In some banks only first class graduates are considered eligible. For some other banks the minimum percentage of marks required is 55 percent. Those with post graduate qualification may get some relaxation in qualifying percentage of marks, in few cases. There have also been instances of banks preferring to recruit people with post graduate degree or diploma in management. Particular recruitment advertisement should be carefully studied to know the eligibility criteria.
      The test for probationary officers consists of the following objective papers:
1. General Awareness
2. Data Interpretation and Logical reasoning
3. Verbal Reasoning
4. English

Some banks prefer to include a descriptive paper also in the test process. In this paper the candidate is required to write essay and attempt composition. Minimum qualifying marks are prescribed for both objective and subjective papers. Candidates are called for interview on the basis of marks obtained in written examination.

Interview for officers position is expected to be more comprehensive. Here along with general questions, the interview panel may try to judge the candidates understanding of nation's economy, issues before the economy etc. One should always be ready to answer questions like ‘why you want to choose banking as a career?’, ‘what are your expectation from the job’ etc. Also questions relating to earlier job experiences may be asked. For getting selected a candidate should do    well both in written examination and interview.
Recruitment in higher scales

With some experience one can expect to join a public sector bank in a higher scale. Most of the vacancies in higher scales exist in Middle Management Grade II or III. Of course the candidate should fulfill the eligibility criteria as regards to age and qualification. The experience required for higher scales keeps changing from bank to bank, it may be one year or more. Professionally qualified people (with qualifications like MBA, CA etc) stand better chance in this regard.
Campus Recruitments

Since last 3-4 years public sector banks have started recruiting from campuses. This campus recruitment covers only a small part of their manpower needs but it has opened a new window of opportunity to students wanting to make a career in banks. From campuses banks are taking MBAs from different disciplines, agriculture graduates, chartered accountants etc.
Career Progression

There is a well defined career progression path in each public sector bank. Performance and potential are key elements which determine this career progression. Most senior officials in public sector banks started their career as clerk or scale I officer only. In tune with the time banks have reviewed their promotion policy and now for bright, hardworking and knowledgeable employees it takes less time to move to higher scales. In many banks a person who joined as an officer may reach to the position of Genera Manager in 14 years. After that one can aspire for the position of executive director or chairman of a bank. These are very high positions, nomination to which is decided by the Government and not by the individual banks.

Many public sector banks have a network of foreign branches. Thus joining a public sector bank gives you the opportunity of working abroad also. Transferability in a bank job provides you the chance of seeing different parts of the country.
To Conclude

Public sector banks may not offer fancy financial packages which multinational and few other companies offer. But the compensation in these banks with the recent wage revision and including perquisites is quite good. And there is an element of job security too. The housing and medical facilities are also considered attractive.

The expansion mode in which public sector banks in India are, is creating large number of opportunities for young people to choose banking as their career.
Career progression of Officers

Junior Management Grade – Scale I: Officer
Middle Management Grade – Scale II: Manager
Middle Management Grade – Scale III: Senior Manager
Senior Management Grade – Scale IV: Chief Manager
Senior Management Grade Scale V: Assistant General Manager
Top Management Grade Scale VI: Deputy General Manager
Top Management Grade Scale VII: General Manager
Public Sector Banks in India

Punjab National Bank
Bank of Baroda
Bank of India
Canara Bank
Allahabad Bank
Andhra Bank
Bank of Maharashtra
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab and Sind Bank
Syndicate Bank
UCO Bank
United Bank of India
Union Bank of India
Vijaya Bank
State Bank of India
State Bank of Indore
State Bank of Hyderabad
State Bank of Patiala
State Bank of Mysore
State Bank of Saurashtra
State Bank of Bikaner and Jaipur
State Bank of Travancore

How to Become a Creative Genius

Friends,

How to Become a Creative Genius

When we measure the creativity of young children, virtually all of them will record as being ‘highly creative’. However, only a small percentage of adults register as being ‘highly creative’.

What happened?

Schools have crushed creativity. We were told to color within the lines. We were taught to follow instructions. The goal in school is to get the “right” answer. Unfortunately, if you’re afraid to be wrong, you’ll never be creative or original.
The job of education is to produce employees who follow instructions. And to this endeavor, they are doing a very good job. However, in terms of creativity, they are falling terribly short.

This is one of the most unfortunate realities in our current education system.
To undo this, we must continually exercise our creative juices. That’s why I have put together 6 tips for expanding your creativity.

1. Keep a Notebook and Pencil on hand at all times.
Ideas are like in-laws, you never know when they’re coming over to visit. By keeping a notebook around, you will always be able to capture your ideas at any time of the day.
Leonardo da Vinci was well known for keeping a journal of his ideas. His notebooks are now prized possessions that hold the many creative and genius thoughts of this master thinker, painter, and inventor.
His notebooks were filled with plans for flying machines, a parachute, a helicopter, the extendable ladder, the bicycle, folding furniture, and a number of automated tools for increasing productivity.
Yes, I am happy to say that Leonardo da Vinci was a productivity junkie.
A blank page is an open invitation for the creative and curious mind. The simple act of writing gets you into a creative flow that can last for hours.
The free-flowing, exploratory practice of keeping a journal encourages freedom of thought and expanded perspectives.

2. The second key to creativity is to ask questions.
Questions are the root of all knowledge and creativity. By continually asking questions about the world around us, we fuel our creative fire.
Great minds are those that have asked the greatest questions.
Leonardo da Vinci asked such questions as:
“Why does the thunder last a longer time than that which causes it?” and “Why is the sky blue?”
Socrates asked such questions as:
“What is wisdom?”
“What is piety?”
“What is beauty?”
As a young boy, Albert Einstein asked himself, “What would it be like to run beside a light beam at the speed of light?”
A number of inventions have been created by asking one simple question…
“What if…..?”
By asking questions we increase our level of consciousness and our perspective of the world.

3. To become a creative genius, you must also be a voracious reader.
Reading enhances your mental ability and lets you experience the world from a brand new perspective.
When we read a book, we let go of our own perspectives and experience the world from the characters that have been crafted by the author.
I have found in my own life that the more I read, the more I want to know. Reading becomes an insatiable desire and an unquenchable thirst.

4. Seek out new experiences.
Our minds are much like a garden. Without proper care, the weeds will take over. Nothing sparks the mind like learning something new.
If you want to expand your creativity, then learn a new skill. It can be anything you choose. Learn a new language.
Learn to water ski. Learn to play an instrument. Pick up photography or even try a new sport.
All of these activities get your mind working outside of its regular patterns.

5. Become a whole-brain thinker.
There are generally two-types of people in this world: left-brained and right-brained.
In most cases, people are either analytical thinkers who enjoy math, science, and logic or they are highly imaginative and creative individuals who focus on the big-picture.
Unfortunately, our school systems generally cater to those who are left-brained analytical thinkers. This has created a world of employees who are very good at following directions but are not so good at developing new ideas.
To break the mold, we must become whole-brain, holistic thinkers.
You can do this by using a powerful method known as mind mapping.
Mind mapping has been used by some of history’s greatest brains, including Michelangelo, Mark Twain, and Leonardo da Vinci.
Mind mapping is a whole-brain activity that will awaken your creative side as well as your analytical side.
Mind mapping will also help you to generate new ideas when needed. It doesn’t matter whether you’re using it for personal goal setting, problem solving, or simply to become a more creative, whole-brain thinker.
Our mind works in pictures, associating one idea to the next. Mind mapping allows you to continue this natural thought process on paper.
Mind mapping is one of the most powerful tools for awakening your creativity.
For a detailed explanation of mind mapping, go to: http://en.wikipedia.org/wiki/Mind_map

6. The final tool for developing your creativity is imaginary dialogue.
Yes, I know, it may sound silly at first, but this technique can be an extremely powerful tool for developing your creativity.
This technique was first introduced in the best-selling book by Napoleon Hill, “Think and Grow Rich”.
Before achieving his success, Napoleon Hill was first meeting with an imaginary mastermind each night. He would close his eyes and visualize a table occupied by such great men as Abraham Lincoln, George Washington, Napoleon Bonaparte, Ralph Waldo Emerson, and Elbert Hubbard.
Napoleon Hill would then speak to the members of his imaginary mastermind in the following manner:
“Mr. Lincoln: I desire to build in my own character those qualities of patience and fairness toward all mankind and the keen sense of humor which were your outstanding characteristics.”
“Mr. Washington: I desire to build in my own character those qualities of patriotism and self-sacrifice and leadership which were your outstanding characteristics.”
“Mr. Hubbard: I desire to develop the ability to equal and even to excel the ability that you possessed with which to express yourself in clear, concise and forceful language.”
After meeting with his mastermind group for several months, he found that he had developed each of their desired characteristics into his own personality.
Napoleon also went to his imaginary mastermind to help solve any problem he was facing.
The imaginary mastermind is a master tool for finding new perspectives and looking at your problem from a different angle.
For example, let’s say that you own a business. Why not develop an imaginary mastermind of the greatest business minds in history? You can call to your table such names as Henry Ford, Andrew Carnegie, Walt Disney, Bill Gates, Ray Kroc, and Sam Walton.
Call on them daily for advice and you will begin to see your problems in a new light. As once said by Albert Einstein,
“You can’t solve a problem with the same mind that created it.”
You can have even more creative fun by imagining a discussion between two different well-known people.
Some examples to get you started include:
Bill Gates Vs. Steve Jobs
Leonardo da Vinci vs. Albert Einstein
William Shakespeare vs. Maya Angelou
Let your mind wander and you will be surprised at all of the connections you begin to make.