The production in city puts an identification mark under the year of issue. Coins produced in:
Wednesday, October 27, 2010
A RARE FACT ABOUT INDIAN COINS
The production in city puts an identification mark under the year of issue. Coins produced in:
Friday, October 15, 2010
SharePoint Day 2010 Invite - Connect.Collaborate.SharePoint
Welcome to PUG SharePoint Day 2010- A unique SharePoint Conference. SharePoint 2010 is the business collaboration platform for enterprise and the web that enables IT to connect and empower people through an integrated set of rich features - including comprehensive content management and enterprise search, accelerating shared business processes, and facilitating information-sharing for business insights - all on a governable and compliant platform. SharePoint also helps cut costs and improve IT Productivity with a unified infrastructure, reduced maintenance expenses and the ability to more rapidly respond to business needs. Save the Date for PUG SharePoint Day 2010, the premier event dedicated to SharePoint and related technologies being held October 23rd, 2010 in Pune, India. SharePoint Day 2010 will be the event to learn more about Microsoft SharePoint 2010, the business collaboration platform for the enterprise and the internet. Learn how to apply the latest best practices for building and deploying solutions on the platform and find out how customers and partners are embracing cloud-based services to create value for their organizations. | |
Saturday 23rd Oct, 2010 9:00 a.m. to 5:00 p.m. 2 dedicated parallel Tracks for IT Pros and Developers | |
Calling all Designers, Developers and IT Professionals to be a part of this unique event. Entry FREE !! Registration Required. For more information and Registration , Please visit : http://sharepointday.puneusergroup.org Hurry up and Register Today !! | Venue: MCCIA Trade Tower, 505, A-Wing,, 5th floor, International Conventional Center, 403, Senapati Bapat Road, Pune, 411 016, India |
For any queries/suggestions, Please contact us at: SharePointDay2010@puneusergroup.org | |
If you are not able to view this email properly, please click here |
Monday, June 28, 2010
Monday, May 10, 2010
Should you invest in Infrastructure Bonds
Tax: Should you invest in Infrastructure Bonds?
Many media articles and the finance minister have said that this is a very positive thing. But how can the same thing be positive for every individual? If not negative, it should at least be neutral for many. Else life would be so boring.
This article will try to look the pros and cons of investing in infrastructure bonds for the sake of tax-saving. The analysis will be from the perspective of the different 'tax groups' post Budget 2010.
- Tax group 1: Taxable income Rs 1.6 lakh to Rs 5 lakh.
- Tax group 2: Taxable income Rs 5 lakh to Rs 8 lakh.
- Tax group 3: Taxable income above Rs 8 lakh.
- Actual tax-saving (let's take the highest saving possible);
- Returns from the investment (during the lock-in period at the least);
- Opportunity cost (what if the same money had been invested in some other investment?); and
- Effect of Inflation on the returns on investment (what would the worth of your investment be when it comes to redeem/encash it?).
For the sake of parameter 2, we will have to make an assumption on the lock-in period (as nothing has so far been announced by the finance minister). As is generally the case with most tax-saving instruments we can assume two scenarios -- a 3-year lock-in and a 5-year lock-in.
Let's assume the rate of return on infrastructure bonds = 5.5% per annum.
Let's consider the overall rate of inflation at 8%.
For people in the Rs 1.6-5 lakh taxable income group, income will be taxed at the rate of 10%.
Parameter 1: Actual tax-saving: 10% of Rs 20,000 = Rs 2,000 (if you invest Rs 20,000 in the instrument you get to reduce your taxable income by Rs 20,000 thus giving a 10 per cent benefit).
Parameter 2: What will be the returns at the end of the lock-in period? For a lock-in period of 3 years an investment of Rs 20,000 would fetch an income of Rs 3,484. When added to the tax saved we get an effective return of Rs 25,485 (Rs 20,000 + Rs 3,484 + Rs 2,000) on our investment.
Parameter 3: If this same amount were to be invested in a market instrument that fetched a return of 15% (which is very reasonable considering that the benchmark Sensex and many mutual funds have given comparatively higher returns over a long period), the investment would fetch an effective return of Rs 27,376 (Rs 20,000 - Rs 2000 = Rs 18,000 invested @15% per annum for 3 years).
Parameter 4: What would be the minimum amount required to counter inflation at 8%? The amount would be Rs 25,194.
Thus we see that for a person in the Rs 1.6-5 lakh slab, the benefit from investing in an infrastructure bond as a tax-saving instrument will be only Rs 291 (Rs 25,485 - Rs 25,194) whereas the benefit from paying tax and investing the balance in any decent instrument would be Rs 2,182.
Similarly, we can calculate the benefits for each segment as well as for a scenario where the lock-in period is 5 years as given in the table below.
Rate of tax | Investments in Infrastructure Bonds | Tax paid in lieu of investing in Infrastructure Bonds | |||
Slab | Tax-savings | Effective Returns | Investment Returns from Market after Tax | ||
3 years | 5 years | 3 years | 5 years | ||
30% | 6,000 | 29,485 | 32,139 | 21,292 | 28,159 |
20% | 4,000 | 27,485 | 30,139 | 24,334 | 32,182 |
10% | 2,000 | 25,485 | 28,139 | 27,376 | 36,204 |
Required Returns to Counter Inflation Effect | 25,194 | 29,387 |
As seen from the table above, it makes sense for people in the over Rs 8 lakh taxable income slab to use the infrastructure bonds as a tax-saving instrument.
For the people in the Rs 5-8 lakh bracket, it would be advisable to invest in infrastructure bonds if the period of investment is 3 years, but not for five years and for those in the Rs 1.6-5 lakh bracket, it would be an absolute no-no to invest in Infrastructure Bonds for tax-saving purpose.
Ref: Rediff
Friday, April 30, 2010
Monday, April 26, 2010
Need your Support for the School Kit Drive 2010
Flat no.7 , Top floor,1015/4 Shreya Apt.
Shivaji Nagar
Sunday, April 25, 2010
IPL Pune Team name is Sahara Pune Warriors
The latest entrant to the IPL Team - IPL Pune - announced the name of its team today. Sahara India who won the bid for this new team had released the name today on 24th April. Fans all over are curious to know the name of the IPL Pune.
As you know IPL Kochi is the other team that will join IPL Pune and 8 other IPL teams from the next season of IPL.
Friday, April 23, 2010
Tuesday, April 20, 2010
Thursday, April 15, 2010
FAQs on Income Tax II - Payment & Return filing
Income | Rate (%) |
Up to 160000* | NIL |
160000 to 500000 | 10 |
500000 to 800000 | 20 |
Above 800000 | 30 |
- Plus Education Cess @ 2% is payable on tax plus surcharge
- Ownership/lease of a motor vehicle.
- Occupation of any category or categories of immovable property as may be specified by the board by notification whether by way of ownership or tenancy or otherwise.
- Incurred expenditure on himself or any other person on travel to a foreign country other than Bangladesh, Bhutan, Maldives, Nepal, Pakistan or Sri Lanka (not being a travel to Saudi Arabia for Hajj or travel to China on pilgrimage to Kailash Mansarovar).
- Subscription of a cellular telephone (not being a wireless in local loop telephone).
- Holder of a credit card (not being an add-on card or not being a Kisan credit card, issued by a bank or an institution).
- Member of a club where entrance fees charged is Rs 25,000 or more.
- Expenditure of Rs 50,000 or more during the previous year towards consumption of electricity.
Class of Assessees | Category | Form |
Individuals, HUF, Firms etc. (except companies and charitable assessees) | All cases | Form No. 2D or Saral form |
One by Seven scheme | Form No. 2C | |
Business or Profession income | Form No. 2 | |
Non- business income | Form No.3 or 3D | |
Non- business income, No Capital Gain, No agriculture income | 3 or 2D or 2E (Naya Saral) | |
Non business income and total income less than Rs 2 lakhs | Form No. 2A | |
Charitable assesses | All cases | Form No 3A |
Company except charitable assesses | All cases | Form No 1 |
Search cases | All cases | Form No 2B |
Category | Due date |
For four categories namely: A. Companies B. All auditable cases C. Working partner of auditable firms, D. Persons covered other than 1/7 scheme, | 31st October |
In any other case | 31st July |
- He or she has paid all his taxes but failed to file the returns on the due date for genuine reasons.
- He or she has not only failed to file the returns but also failed to pay his taxes on the due date
Tuesday, April 13, 2010
Jallian Wala Bagh - April 13, 1919
Amritsar Massacre
Jallian Wala Bagh
"The impossible men of India shall rise and liberate their Motherland"
Mahatma Gandhi, after the Amritsar Massacre.
"The incident in Jallian Wala Bagh was 'an extraordinary event, a monstrous event, an event which stands in singular and sinister isolation"...Winston Churchill
It started a few months after the end of the first world war when an Englishwoman, a missionary, reported that she had been molested on a street in the Punjab city of Amritsar. The Raj's local commander, Brigadier General Reginald Dyer, issued an order requiring all Indians using that street to crawl its length on their hands and knees. He also authorized the indiscriminate, public whipping of natives who came within lathi length of British policemen.
On April 13, 1919, a multitude of Punjabis gathered in Amritsar's Jallian wala Bagh as part of the Sikh Festival "Baisakhi fair" and to protest at these extraordinary measures. The throng, penned in a narrow space smaller than Trafalgar Square, had been peacefully listening to the testimony of victims when Dyer appeared at the head of a contingent of British troops. Giving no word of warning, he ordered 50 soldiers to fire into the gathering, and for 10 to 15 minutes 1,650 rounds of ammunition were unloaded into the screaming, terrified crowd, some of whom were trampled by those desperately trying to escape.
"The Indians were 'packed together so that one bullet would drive through three or four bodies'; the people 'ran madly this way and the other. When fire was directed upon the centre, they ran to the sides. The fire was then directed to the sides. Many threw themselves down on the ground, and the fire was then directed on the ground. This was continued for eight or ten minutes, and it stopped only when the ammunition had reached the point of exhaustion".....Winston Churchill
Dyer then marched away, leaving 379 dead and over 1,500 wounded.
Back in his headquarters, he reported to his superiors that he had been 'confronted by a revolutionary army,' and had been obliged 'to teach a moral lesson to the Punjab.' In the storm of outrage which followed, the brigadier was promoted to major general, retired, and placed on the inactive list.
''I think it quite possible that I could have dispersed the crowd without firing but they would have come back again and laughed, and I would have made, what I consider, a fool of myself.'' ......Dyer's response to the Hunter Commission Enquiry
General Dyer said he would have used his machine guns if he could have got them into the enclosure, but these were mounted on armoured cars. He said he did not stop firing when the crowd began to disperse because he thought it was his duty to keep firing until the crowd dispersed, and that a little firing would do no good.
He confessed he did not take any steps to attend to the wounded after the firing. ''Certainly not. It was not my job. Hospitals were open and they could have gone there,'' came his pathetic response.
However, the misery suffered by the people was reflected in Rattan Devi's account. She was forced to keep a nightlong vigil, armed with a bamboo stick to protect her husband's body from jackals and vultures. Curfew with shoot-at-sight orders had been imposed from 2000 hours that night.
Rattan Devi stated, ''I saw three men writhing in great pain and a boy of about 12. I could not leave the place. The boy asked me for water but there was no water in that place. At 2 am, a Jat who was lying entangled on the wall asked me to raise his leg. I went up to him and took hold of his clothes drenched in blood and raised him up. Heaps of bodies lay there, a number of them innocent children. I shall never forget the sight. I spent the night crying and watching..."
General Dyer admitted before the commission that he came to know about the meeting at Jallianwala Bagh at 1240 hours that day, but took no steps to prevent it. He also admitted in his deposition that the gathering at the Bagh was not a concentration only of rebels, but people who had covered long distances to participate in the Baisakhi fair.
This incredibly, made him a martyr to millions of Englishmen. Senior British officers applauded his suppression of 'another Indian Mutiny.' The Guardians of the Golden Temple enrolled him in the Brotherhood of Sikhs. The House of Lords passed a measure commending him. The Conservatives presented him with a jewelled sword inscribed "Saviour of the Punjab."
A young Sikh teenager who was being raised at Khalsa Orphanage named Udham Singh (aka Mohammad Singh Azad) saw the happening with his own eyes. He vowed to avenge the Amritsar massacre.
On 13 March 1940 at 4.30 p.m. in the Caxton Hall, London, where a meeting of the East India Association was being held in conjunction with the Royal Central Asian Society, Udham Singh fired five to six shots from his pistol at Sir Michael O'Dwyer, who was governor of the Punjab when the Amritsar Massacre had taken place, to avenge the massacre.
On the 31st July, 1940, Udham Singh was hanged at Pentonville jail, London
"He was the real culprit. He deserved it. He wanted to crush the spirit of my people, so I [had to] crush him." Udham Singh, telling the trial court why he killed Michael O'Dwyer.
VS2010 Community launch Invite - 17th April in Pune at ICC
Visual Studio 2010 is Microsoft's latest and powerful IDE in which you can build impactful and expressive applications Pune User Group is all set to launch Visual Studio 2010 this summer,17th April 2010. We are very pleased to announce that Stephanie Saad Cuthbertson , Group Program Manager, Microsoft Corporation is here with us to be a part of India's first Visual Studio 2010 Community Launch Event. |
-> What will you do attending a LAUNCH Event? Each and every participant attending this event will : 1) Get connected with the best minds in the IT industry to learn and gain knowledge on how Visual Studio would help you to build faster, reliable and effective business applications. 2) Learn how Visual Studio improves your development skills to write quality code. 3) Get acquainted with the IDE's features for building applications in most recent technologies including .NET 4.0,Silverlight 4 etc. > What will I have to do to be a part of this event? The event is absolutely free. You only have to register online. |
So WHAT YOU WAITING FOR.... Click on the below link to be a part of India's First Visual 2010 Community Launch Event Registration. Visit the below site for more information. http://www.puneusergroup.org/events/vs2010-launch |