597 comments and 60,652 views
Posted in Education, Finance, Government, Income Tax, India.
Indian government has taken steps to make income tax return filing easier and simple.
In past few years there have been many improvements and use of technology by income tax department like introduction of E-filing, online tax payment, digital signature etc.
In order to spread the knowledge, I am writing steps on how you can file income tax return online yourself.
– June 27, 2009
12 comments and 1,833 views
Posted in Education, Finance, Income Tax, India.
Just out of curiosity and to learn more, for past few years, I have been calculating tax, making whatever extra payment other than TDS online, filling return forms and submitting tax return myself. I am always excited to try new ways government implements.
I registered myself 3 years back to view tax credits paid by my employer as TDS. You can also register here : Check you tax credits. You can also download Form 26 AS here and see how much tax has been deposited on your name from your employer or any other firm.
You can view it to verify if the tax payments made by you or TDS deducted from salary or interest etc are correctly reported to the income tax department. You can also check income tax refund from previous year in the same form.
Now the same can also be checked from View Tax credit statement (Form 26 AS) section under “My Account” menu in Income tax e-filing website after login.
– June 25, 2009
6 comments and 948 views
Posted in Education, Internet.
Recently I saw a new education website StudyTimes.com (Now StudyNation.com). Amazingly they have more or less copied pasted design/creatives from another website Studyplaces.com, which is there from past two years.
At some places (http://www.studynation.com/studyabroad/), They even copy-pasted same internal banners as on StudyPlaces. See screenshot below:
StudyTimes/StudyNation - same creatives used as on StudyPlaces.com
WTF, Is there not any legal issue in this. You can get inspired from others on web but can you just save someone’s creative images and use on your site.
– June 24, 2009
9 comments and 180 views
Posted in Government, India, Politics.
आदमी आज़ाद है, देश भी स्वतंत्र है, राजा गए रानी गयी, अब तो प्रजातंत्र है
जन के लिए जन के द्वारा जनता का राज है, प्रजातंत्र सबसे बड़ा हम सबको नाज़ है
Finally much awaited Indian election results are out.
Indians eventually have thrown out power traders, dividers and self acclaimed king makers.
Its a win of India and its people.
They do not want any regional and small party to blackmail government and stop their country‘s progress.
They want development, jobs, infrastructure and quick recovery from recession.
Bye Bye Maya, Lefties, Lalu, Paswan and Mulayam !
For recession hit corporate India, the big bang reforms may be coming soon. India Inc. is full of Hope.
– May 17, 2009
2 comments and 185 views
All parties are trying to catch voter at younger stage. Every party trying to project that they have younger leaders which connect to youngsters.
Congress have many young faces. Buy did they actually projected them?
Last time at election, they had Murli Dewra, Sachin Poilet, Jyotiraditya Scindia won the elections, but old party did not believe in giving them ministership and did not gave them a chance to manager India Inc.
Congress may claim that they have younger leaders but they are not ready to give them power and their old aged politicians want to suck blood from Indians first. Is it not double fascism. At time to votes, they ask votes in name of young leaders and when they win, they do not care for young leaders.
I strongly believe that Indian need CEOs to manage the country and not the 80 years old politicians.
In current economic conditions, recession and jobless environment, younger generation have become restless and frustrated. They need somebody who can lead them to good future and not play caste, religion and reservations based politics.
Next generation, Come out and change the country and this world. Throw these age old politicians out of the world. Bring a change !
– May 10, 2009
2 comments and 89 views
Once upon a time, I used to believe in a party, BJP (Bhartiya Janta Party). At that time, they had leaders who were capable, with clean image and educated.
But Now, they seems like too hungry for power and fighting among themselves. They do not have any issues and just try to make issue out of anything. The ideology is finished. They can tie up with any tom, dick and harry party if needed.
Even this election is not over and they are speculating for next prime minister candidate. Earlier I used to think that they think for this country. But that thought don’t come now. BJP has become red-faced. I don’t believe in what they say anymore.
They don’t even have now any young face to which I can connect to or inspire from. They are playing cheap politics.
– May 8, 2009
No comments and 312 views
I firmly believe that if region and caste based politics is removed from this country, it can very fast become a developed country.
People like Mayawati thinks that by gaining 40-50 seats they can become prime minister of India.
For choosing a country’s prime minister, regional parties should not even be allowed to take part in election. Lalu, Paswan, Mulayam, Left parties etc become traders after elections. They decide who will become prime minister. Have they ever think about National interest. They can not rise above their dividing and caste/religion based politics. They see only their money interests.
In every state, we have regional parties ruling and they tie up and bargain in Loksabha elections everytime its there. Akali Dal in Punjab, Shiv Sena in Maharashtra, Biju Janta Dal in Orissa, Janta Dal united in Bihar, Left in West Bangal, .
None of these parties open their cards before elections and trade afterwords. Does Indian voters do not feel cheated as these regional parties decide their candidate after election.
God, Please save India from regional parties and their politics !!
– May 7, 2009
2 comments and 912 views
To minimize online transaction frauds in India, RBI has come out with more safer guidelines for online transactions. As per RBI, both credit and debit card holder have to validate their identity while performing an online transaction.
There can be multiple ways thru which identity validations can be done. One option is to send a transaction code as SMS to user’s mobile on each transaction, using which the transaction can be completed. Another option is to provide users a code generator device.
SBI, ICICI, Kotak Mahindra Bank and Citibank sends one time code as SMS to mobile for authenticating the transaction. HSBC provides a digital code generator which has to be used for any transaction online. HDFC uses a image and text to validate the user which has to be configured at time of net banking registeration.
Its difficult for a hacker to have access of everything including username, password, mobile phone or code generator.
Most of the banks do validation one time only at the time of activating third party beneficiaries. In all future transaction with activated third party accounts are not authenticated.
In case of credit card, Both MasterCard (called MasterCard SecureCode) and Visa (called Verified by Visa) uses password for authenticating online transactions. Some credit card have a feature of limiting the amount maximum of which a transaction can be done online.
– May 7, 2009
44 comments and 23,225 views
Posted in Finance, Government, Income Tax, India, Investment, Mutual Funds.
PFRDA (Pension Fund Regulatory and Development Authority), India has opened New Pension Scheme (NPS) to all Indian citizens starting today, on 1st May, 2009.
Its a safe, flexible and portable scheme introduced by Indian Government’s cell PFRDA; to replace the existing System of Pension System in the country and to provide income security after retirement.
PFRDA was established by the Government of India to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds.
– April 25, 2009
399 comments and 140,778 views
Posted in Finance, Income Tax, India.
Most of people like me (employed in different organizations) need to know how much tax will be deducted every month as TDS (Tax deducted as source) by their employer.
To help all of us, I have create a small but powerful income tax calculator using which one can find out how much In hand he will get, how much HRA proof he needs to provide make HRA non-taxable, whats the total tax he will have to pay for a year. After you calculate your taxes, you should also read How to file income tax return online.
2010 Budget Update (26 Feb 2010): As per budget presented on 26th Feb, 2010, Pranav Mukherjee proposed changes for income tax rate slabs as per below. Also apart from current one lakh investment, additional 20,000 Rs will be non-taxable, if same has been invested in long term infrastructure bonds.
Income Tax Calculator for Financial Year 2010-2011 (76.5 KiB, 45,985 hits)
You need to be logged-in to download this file. Click Here to login
| For Men | |
| Upto Rs. 1,60,000/- | Nil |
| Rs. 1,60,001/- to Rs. 5,00,000/- | 10 per cent |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
| For Women | |
| Upto Rs. 1,90,000/- | Nil |
| Rs. 1,90,001/- to Rs. 5,00,000/- | 10 per cent |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
| For resident individual of 65 years or above | |
| Upto Rs. 2,40,000/- | Nil |
| Rs. 2,40,001/- to Rs. 5,00,000/- | 10 per cent |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
2009 Budget Update: As per budget presented on 6th July, 2009, Pranav Mukherjee increased the personal income tax exemption limit by Rs 10,000 for men and women. The limit for senior citizens was raised by Rs 15,000. Besides this, the 10% surcharge on personal income tax on income over Rs 10 lakh has been abolished. The changes have been updated in income tax calculator below.
Income Tax Calculator for Financial Year 2009-2010 (72.0 KiB, 53,634 hits)
You need to be logged-in to download this file. Click Here to login
| For Men | |
| Upto Rs. 1,60,000/- | Nil |
| Rs. 1,60,001/- to Rs. 3,00,000/- | 10 per cent |
| Rs. 3,00,001/- to Rs. 5,00,000 | 20 per cent |
| Above Rs. 5,00,000/- | 30 per cent |
| For Women | |
| Upto Rs. 1,90,000/- | Nil |
| Rs. 1,90,001/- to Rs. 3,00,000/- | 10 per cent |
| Rs. 3,00,001/- to Rs. 5,00,000 | 20 per cent |
| Above Rs. 5,00,000/- | 30 per cent |
| For resident individual of 65 years or above | |
| Upto Rs. 2,40,000/- | Nil |
| Rs. 2,40,001/- to Rs. 3,00,000/- | 10 per cent |
| Rs. 3,00,001/- to Rs. 5,00,000 | 20 per cent |
| Above Rs. 5,00,000/- | 30 per cent |
– April 6, 2009
