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ENTRAL GOVERNMENT INTRODUCED ONLINE SERVICES

ENTRAL GOVERNMENT INTRODUCED ONLINE SERVICES

Obtain:
1.  Birth Certificate
http://www.india.gov.in/howdo/howdoi.php?service=1

2.  Caste Certificate
http://www.india.gov.in/howdo/howdoi.php?service=4

3.  Tribe Certificate
http://www.india.gov.in/howdo/otherservice_details.php?service=8

4.  Domicile Certificate
http://www.india.gov.in/howdo/howdoi.php?service=5

5.  Driving Licence
http://www.india.gov.in/howdo/howdoi.php?service=6

6.  Marriage Certificate
http://www.india.gov.in/howdo/howdoi.php?service=3

7.  Death Certificate
http://www.india.gov.in/howdo/howdoi.php?service=2

Apply for:
1.    PAN Card
http://www.india.gov.in/howdo/otherservice_details.php?service=15

  1.     TAN Card
    http://www.india.gov.in/howdo/otherservice_details.php?service=3

  2.     Ration Card
    http://www.india.gov.in/howdo/howdoi.php?service=7

  3.     Passport
    http://www.india.gov.in/howdo/otherservice_details.php?service=2

  4.     Inclusion of name in the Electoral Rolls
    http://www.india.gov.in/howdo/howdoi.php?service=10

Register:
1.    Land/Property
http://www.india.gov.in/howdo/howdoi.php?service=9

  1.    Vehicle
    http://www.india.gov.in/howdo/howdoi.php?service=13

  2.    With State Employment Exchange
    http://www.india.gov.in/howdo/howdoi.php?service=12

  3.    As Employer
    http://www.india.gov.in/howdo/otherservice_details.php?service=17

  4.    Company
    http://www.india.gov.in/howdo/otherservice_details.php?service=19

  5.    .IN Domain
    http://www.india.gov.in/howdo/otherservice_details.php?service=18

  6.    GOV.IN Domain
    http://www.india.gov.in/howdo/otherservice_details.php?service=25

Check/Track:
1.    Waiting list status for Central Government Housing
http://www.india.gov.in/howdo/otherservice_details.php?service=9

  1.     Status of Stolen Vehicles
    http://www.india.gov.in/howdo/otherservice_details.php?service=1

  2.    Land Records
    http://www.india.gov.in/landrecords/index.php

  3.    Cause list of Indian Courts
    http://www.india.gov.in/howdo/otherservice_details.php?service=7

  4.    Court Judgments (JUDIS )
    http://www.india.gov.in/howdo/otherservice_details.php?service=24

  5.    Daily Court Orders/Case Status
    http://www.india.gov.in/howdo/otherservice_details.php?service=21

  6.    Acts of Indian Parliament
    http://www.india.gov.in/howdo/otherservice_details.php?service=13

  7.    Exam Results
    http://www.india.gov.in/howdo/otherservice_details.php?service=16

  8.    Speed Post Status
    http://www.india.gov.in/howdo/otherservice_details.php?service=10

  9. Agricultural Market Prices Online
    http://www.india.gov.in/howdo/otherservice_details.php?service=6

Book/File/Lodge:
1.     Train Tickets Online
http://www.india.gov.in/howdo/otherservice_details.php?service=5

  1.     Air Tickets Online
    http://www.india.gov.in/howdo/otherservice_details.php?service=4

  2.     Income Tax Returns
    http://www.india.gov.in/howdo/otherservice_details.php?service=12

  3.     Complaint with Central Vigilance Commission (CVC)
    http://www.india.gov.in/howdo/otherservice_details.php?service=14

Contribute to:
1.      Prime Minister’s Relief Fund
http://www.india.gov.in/howdo/otherservice_details.php?service=11

Others:
1.      Send Letters Electronically
http://www.india.gov.in/howdo/otherservice_details.php?service=20

Global Navigation
1.     Citizens
http://www.india.gov.in/citizen.php

  1.     Business (External website that opens in a new window)
    http://business.gov.in/

  2.     Overseas
    http://www.india.gov.in/overseas.php

  3.     Government
    http://www.india.gov.in/govtphp

  4.     Know India
    http://www.india.gov.in/knowindia.php

  5.     Sectors
    http://www.india.gov.in/sector.php

  6.     Directories
    http://www.india.gov.in/directories.php

  7.     Documents
    http://www.india.gov.in/documents.php

  8.     Forms
    http://www.india.gov.in/forms/forms.php

  9.    Acts
    http://www.india.gov.in/govt/acts.php

11.  Rules
http://www.india.gov.in/govt/rules.php

Professional Tax

Professional Tax is a Tax which is levied by the State on the Income earned by way of profession, trade, calling or employment. This form of tax was first levied in India in the year 1949 and the power to levy Professional Tax has been given to the States by way of Clause (2) of Article 276 of the Constitution of India.

This Tax is levied based on slab rates depending on the Income of the Individual. This Tax is just like Income Tax except for the fact that Income Tax is collected by the Central Govt and Professional Tax is collected by the State Government. When this tax was first introduced in India, the maximum limit on the tax to be collected was Rs. 250. However, this limit was raised from Rs. 250 to Rs. 2500 in the year 1988.

For the past few years, State Governments have been requesting the Parliament to raise this ceiling from Rs. 2500 to Rs. 7500. However, their request has not been accepted and themaximum amount of Professional Tax that can be levied by any State is Rs. 2,500 only.

Any amount paid as Professional Tax to the State Govt. is allowed as a deduction under Section 16 of the Income Tax Act and Income Tax on the Balance Amount is levied as per the Income Tax Slab Rates in force.

In case of Salaried and Wage earners, the Professional Tax is liable to be deducted by the Employer from the Salary/Wages and the Employer is liable to deposit the same with the state government. In case of other class of Individuals, this tax is liable to be paid by the person himself.

 Professional Tax in India is collected by some state governments themselves while in several other states which have active Panchayats, the local bodies themselves levy and this tax. Every person liable to pay this Tax (either on his own behalf or on behalf of its employee) shall apply for Professional Tax Registration in the prescribed form with the prescribed authority.

As the states have been empowered to levy and collect this Tax, different states levy Professional Tax as per Different Slab Rates. The Professional Tax Slab Rates in some of the major states in India are given below:-

  • Maharashtra
  • New Delhi
  • Karnataka
  • West Bengal
  • Madhya Pradesh
  • Tamil Nadu
  • Andhra Pradesh
  • Gujarat

Professional Tax in Maharashtra

Professional Tax in Maharashtra is governed by the Maharashtra State Tax on Professions, Trades, Callings and Employment Act, 1975 which came into effect from 1st April 1975. The Professional Tax Slab Rates on Salary and Wages in Maharashtra are as follows:-

Monthly Salary Amount payable in Maharashtra
Less than Rs. 5000 Nil
Rs. 5001 to Rs. 10000 Rs. 175 pm
Rs. 10001 & above Rs. 200 pm except for the month of Feb
Rs. 300 for the month of Feb

Different Slab Rates have been prescribed for different class of Individuals by the Maharashtra State Govt. and the above slab rates are only for Salaried Individuals and Wage Earners.

For all other class of Individuals, Maharashtra State Govt has prescribed different slab rates and the Individual is himself liable to pay this Tax. For a detailed list of Slab Rate in Maharashtra on different class of Individuals refer this list.

The Maharashtra State Govt has also announced a composition scheme under which any person liable to make payment to the Maharashtra State Govt @ Rs. 2500 p.a. can make a onetime lump-sum payment in advance of Rs. 10,000 and his liability for the next 5 years would be discharged.

The Interest levied for late payment of this Tax in Maharashtra is 1.25% per month and the Maharashtra State Authority may also impose penalty @ 10% of the Total Tax due. Forms forRegistration and Payment of Professional Tax can be downloaded from here.

PROFESSIONAL TAX IN NEW DELHI

In December 2004, the Municipal Corporation of Delhi (MCD) tried to enforce professional tax on those residing and working in New Delhi. However, this proposal was rejected by the Standing Committee of the MCD. And therefore, this Tax is not levied in New Delhi.

Professional Tax in Karnataka

Professional Tax in Karnataka is levied under the Karnataka Tax on Professions, Trade, Callings and Employment Act, 1976Professional Tax Slab Rates in Karnataka on Salary and Wage earners are as follows:-

Monthly Salary Amount payable in Karnataka
Less than Rs. 10,000 Nil
Rs. 10,000 to Rs. 14,999 Rs. 150 per month
Rs. 15,000 & above Rs. 200 per month

Different Slab Rates in Karnataka have been prescribed for different class of Individuals and the above slab rates are only for Salary/ Wage earners. For detailed list on the slab rates of different class of Individuals in Karnataka refer this list.

For late payment of Professional Tax in Karnataka, Interest @ 1.25% per month would be levied and a maximum penalty of 50% of the Total Amount due may also be levied by the Karnataka authority. The Forms for Registration and for payment of this tax can be downloaded from here.

Professional Tax in West Bengal

Professional Tax in West Bengal is governed by the West Bengal State Tax on Professions, Trades, Callings and Employment Act, 1979. The Professional Tax Slab Rates in West Bengal with effect from 01/04/2013 on Salary & Wage earners are as follows:-

Monthly Salary Amount payable in West Bengal
Less than Rs. 8500 NIL
Rs. 8501 to Rs. 10000 Rs. 90 pm
Rs. 10001 to Rs. 15000 Rs. 110 pm
Rs. 15001 to Rs. 25000 Rs. 130 pm
Rs. 25001 to Rs. 40000 Rs. 150 pm
Rs. 40001 & above Rs. 200 pm

The above slab rates in West Bengal are only applicable to Salaried and Wage earners. For slab rates in West Bengal on other class of Individuals, refer this list.

The Forms for Registration and Payment of this tax in West Bengal can be downloaded from here. In case of any delay in depositing this Tax with the West Bengal Govt, Interest @ 1% pm would be levied. The West Bengal govt may also levy penalty @50% of the Total Amount Due.

PROFESSIONAL TAX IN MADHYA PRADESH

Professional Tax in Madhya Pradesh (MP) is levied by the Madhya Pradesh Vritti Kar Adhiniyam, 1995. As per Notification No. 174 dated 31/03/2012 published in the MP Gazette, the following Slab Rates would be applicable in Madhya Pradesh on salaried income wef 1st April 2012 onwards

Monthly Salary Amount payable in Madhya Pradesh
Less than Rs. 12500 Nil
Rs. 12500 to Rs. 14999 Rs. 125 pm
Rs. 15000 & above Rs. 208 from April to Feb & Rs. 212 in March

 For slab rates on other class of individuals, refer this list.

PROFESSIONAL TAX IN TAMIL NADU

Professional Tax in Tamil Nadu is levied under the Town Panchayats, Municipalities & Municipal Corporations Rules 1988. The Slab Rates in Tamil Nadu on salaried income are as follows:-

Monthly Salary Amount payable in Tamil Nadu
Less than Rs. 3500 Rs. 16.50 pm
Rs. 5000 to Rs. 7500 Rs. 39 pm
Rs. 7500 to Rs. 10000 Rs. 85 pm
Rs. 10000 to Rs. 12500 Rs. 126.50 pm
Rs. 12000 & above Rs. 182.50 pm

PROFESSIONAL TAX IN ANDHRA PRADESH

Professional Tax in Andhra Pradesh is levied under the Andhra Pradesh Tax on Professions, Trades, Callings and Employment Act 1987. The Slab Rates in Andhra Pradesh on Salary/ Wage earners are as follows:-

Monthly Salary Amount payable in Andhra Pradesh
Up to Rs. 15000 Nil
Rs. 15001 to Rs. 20000 Rs. 150 pm
Rs. 20,000 & above Rs. 200 pm

For Slab Rates on other class of individuals refer this list.

Professional Tax in Gujarat

Professional Tax in Gujarat is governed by the Gujarat Panchayats, Municipalities, Municipal Corporations and State Tax on Professions, Traders, Callings and Employment Act 1976. The Slab Rates in Gujarat are as follows:-

Monthly Salary Amount payable in Gujarat
Less than Rs. 5999 Nil
Rs. 6000 to Rs. 8999 Rs. 80 per month
Rs. 9000 to Rs. 11999 Rs. 150 per month
Rs. 12000 & above Rs. 200 per month

The above professional tax slab rates are salary/ wage earners. For other class of Individuals refer this list. The Forms for Professional Tax Registration and Payment of this Tax in Gujarat can bedownloaded from here.

Tax planning

Tax planning in a lawful manner.

Here are some of the tips that can help you to plan your taxes for the A.Y. 2015-16 & A.Y. 2014-15.

1) Invest in policies : Policies are a prominent way to save a handful amount of tax. Up to Rs. 1, 50, 000 (A.Y.2015-16) can be saved by way of investing PPF, EPF, Fixed Deposit for 5 years, Pension Plans, etc. as specified u/s 80C, 80CCC and 80CCD.

2) Contribute to NPS : NPS stands for New Pension Scheme was has recently been initiated by the Government under which investors can claim a deduction as a have a Tax free NPS return, however, withdrawal under such system is till taxable.

3) The aid of Medical Insurance : A deduction of Rs. 15, 000 is available for people who wish to invest in medical insurance for self. This deduction increases to Rs. 20, 000 when it is done by senior citizens.

4) Expenditure towards disabled dependent : When certain amount is spent in form medical insurance for a disabled dependent, deduction up to Rs. 50, 000 is available where the disablement is normal in nature. The same can be extended upto 1 lakh is the disablement is of severe type.

5) Expenditure for severe diseases : Expenses made for severe diseases such cancer and aids can also provide a deduction of Rs. 40, 000.

6) Repayment of Higher Education Loan:  When repayment is carried out for higher education loan, the same is also allowed as a deduction and hence can reduce ample amount of tax liability.
7) Donate : Donation to charitable trusts and organizations have always been regarded as an auspicious event, therefore, 100% deduction is available in such context. The same rate is also applicable in situation where contribution is made to a political party.

8) House loan interest : People who are liable to pay house loan interest can also claim deduction upto Rs. 1, 50, 000 (the figure represents the maximum investment limit)

9) Contribute to superannuation fund : Contributing to superannuation fund of can save you upto Rs. 1, 00, 000 as the same is tax free in the hands of the employee.

10) Transportation allowance : A sum of Rs. 9, 600 can be claimed as a deduction for transportation and conveyance, additionally, no bill supporting such an event is required to be presented.

11) Using medical allowance : A person has the liberty of claiming Rs. 15, 000 by way of medical allowance , however, for such, a valid bill is required to be presented as a support.

12) Use House Rent Allowance : Using house rent allowances allow people to adjust a sum from their total tax liability.

13) Investment in Direct Equity Investment is also very helpful in tax planning as it determines a 50% deduction in the amount of investment

Think how social media can stop terror: PM Modi tells Zuckerberg

Prime Minister Narendra Modi on Friday discussed the use of social media in checking terror activities and a host of other issues with social networking giant Facebook’s CEO Mark Zuckerberg.

The issues discussed included ‘Swachh Bharat’ Mission with the Facebook co-founder.

Zuckerberg, who called on the Prime Minister, expressed his interest in working with the government in the areas of healthcare and education.

The Prime Minister pointed out that lots of terrorist elements are using social media platforms to recruit members, according to an official statement.

“This is unfortunate and we need to think of the role the social media can play to stop terror,” Modi said.

Facebook will extend help in developing the Clean India Mobile App that would be launched soon.

“This would give a strong impetus to the Swachh Bharat Mission,” the statement said.

They discussed a wide range of issues revolving around the innovative use of Facebook as a platform to engage with a large audience in the service of humanity, the statement said.

They also talked about the Digital India initiative and the Prime Minister asked Zuckerberg to identify some domains of Digital India where Facebook can get involved and help.

Facebook chief said that he is extremely excited about the Digital India initiative of the Government of India.

Modi recalled how he used social media during campaigns such as tracking the missing children, during his tenure as Chief Minister of Gujarat and how it gave wonderful results.

The Prime Minister appealed to Zuckerberg to promote India’s rich tourism potential through Facebook.

He asked Facebook to look at how to enhance Internet literacy along with Internet connectivity.

Earlier in the day, the Facebook CEO met Telecom and IT Minister Ravi Shankar Prasad.

Zuckerberg is the third high profile CEO of a US-based firm, after Amazon’s Jeff Bezos and Microsoft’s Satya Nadella, to visit India in last few days

6 Documents to Check When Booking a Flat

6 Documents to Check When Booking a Flat

When comparing properties we usually look at the location, price and possession date. These are no doubt important parameters for short-listing a piece of property. However, there are many more important things to check before you finalise a deal.

Legal documentation and clearances 

Ask for copies of all necessary permissions prior to making any financial commitment. Check the following documents and clearance certificates to avoid getting into any legal tangle in future:

1. Land record Title deed is the most important document as it gives details about ownership, rights, obligations and mortgages on the property. So it validates whether the land where the project is coming up has been registered and development rights transferred. Get a copy of it from the builder and cross-check the information with the land record office.

2. Construction clearances: A ‘certificate of commencement’ is mandatory to commence any construction of a property. The certificate is issued by the town planning and engineering department after the inspection of the basic foundation for a superstructure and building boundaries. This also means that the builder would have obtained the required licenses, sanctions and permissions for the map that are required before you can even start excavating.

3. Approved planning: It is good to run an additional check and verify that the building and layout plans have been approved and no byelaw applicable in the area has been broken. Make sure that the floor where you have booked your flat has been approved in the building plan.

The layout should be in accordance with the National Building Code of India (NBC). NBC is a comprehensive guideline, a code, for regulating the building construction activities across the country. Get this document verified with the local municipal authorities.

Also, some projects claim a ‘green status’. In that case it should be either certified by Indian Green Building Council or be rated by Green Buildings Rating System India (GRIHA), a TERI University initiative.

4. Land use certificate: It is illegal to have residential properties on a commercial or industrial zone. Apply to the urban development authority and check the certificate to ensure that the property you plan to purchase is in the residential zone. Sometimes the land will be in what is called a ‘converted zone’. Cities are expanding and often agricultural land is converted for non-residential usage by paying a fee to the government. In such case, check for the endorsement order given by the tehsildar/deputy commissioner of the zone that licenses residential construction on that land.

5. Master plan of the area: Often builders’ claim future infrastructural development of the area such as upcoming metro or highway near the project. Don’t believe everything blindly. Look at the area’s master planning to verify. These plans are easily available with the town planning department.

6. No objection certificates (NOCs): The builder should also be able to give you a copy of the urban land ceiling NOC (if applicable), an environment clearance NOC as well as NOCs from the electricity, water and lift authorities, if there is one.

Everybody has been shouting, cursing, writing about the The Big Billion Day Sale of Flipkart.

By Tushar Shah

Flipkart does 600 crores sales on Big Billion Day. HDFC Bank should make some money !!

Everybody has been shouting, cursing, writing about the The Big Billion Day Sale of Flipkart.
So let me add some more bullshit on this Also after a 5 day weekend its anyways tough to focus on markets right away
I believe a lot of us have HDFC Bank Credit Cards. Every now and then you see cash back offers/discounts and so on to make you spend via the credit cards.
For the last few years they also have a 3 month payment holiday on retail transactions specifically over-lapping the festival/spending season.
Even Parag Parikh a seasoned investor wants to spend in this season. A nice article by him – This season is wasteful ( but fun)
This article by Livemint gives a good de-jargonizes the Payment Holiday Concept– Link
As a loyal HDFC Bank customer i have been using this facility to get an ego trip by redeeming some gifts and money from the bank.
How do i and other customers make money ?
-> Make all my purchases through credit card instead of netbanking.
-> Load up on a lot of redeemable reward points.
-> Keep a Fixed Deposit for the amount payable for 1-3 months.
-> Make the payment on time.
-> Redeem the reward points for some good gifts. ( If only they would add better things in the rewards catalogue )
How does the Bank make money ?
-> Customer makes a lot of purchases online with the discounts/cash back by the bank and even with Festival sales.
-> Customer forgets the payment.
-> Customer does not have a cash flow to make payments. Makes minimum payments.
-> Customer has no idea the interest rate is 3.25% per month.
-> Customer has some EMI payments which are not under the scheme.
There could be more in the terms and conditions – A older link to the terms
As we all know Flipkart loses money – Flipkart 2013 loss at 281 crores but HDFC Bank has a better chance of making profits if people use their credit card.
All the ecommerce companies are working on the same thought process that we Indians are a sucker for Discounts. We love to bargain and get an ego trip 🙂. I have never seen a day when there is no sale on the ecommerce sites. At least the normal retailers keep sales only in festivals, end of season.
I am also an Indian and a sucker for discount buying. So i go to Croma check the laptop, come home and order it on flipkart/amazon or even the product website. ( i recently did so for an Intel Laptop for more than a 10-15% lower price online).
A lot of investors keep doing the same stuff in markets. Keep looking for discounts just by price and not by real value or risk. A stock down from 100 to 50 is cheaper than one which has gone from 100 to 150 irrespective of what the company is . This i believe is a good way to lose money ( Aur kitna ghirega strategy)
Now how does Flipkart lose money and HDFC Bank make money ?
-> A good customer like me can make some money in the holiday period but the Annual Interest Rate for FDs is 8-9%.
-> HDFC Bank charges a nice 39% per annum , plus the late fee , plus compounding and so on.
-> Also i believe HDFC Bank makes some money from the vendors as payments or not instant but over weeks/months ( if you have the time do some work on it )
So even HDFC does not mind me skimming some of that money but all it needs is a few customers to forget or miss the payment.
Also they would love the flipkart/amazon/snapdeals to have such 600 crore days as HDFC Bank has a 20-25% market share in credit cards. Every such sale increases HDFC Banks chances of making money.
People can write all shit about how Venture Capitalists / P-E Funds and other people funding this ecommerce websites are stupid, bla bla. I believe its good for all us end users.
Some of us would learn how to spend a lot of money on bullshit and help grow the economy or will learn how to value things.
Bottomline –
I love #HDFC Bank for giving me discounts/cash backs/ payment holidays.
I love #flipkart, #amazon, #Myntra, #Jabong, #snapdeal and every ecommerce website giving discounts and dropping my stuff home nicely packed with no extra charge.
I love the #VCs.#P-Es, #Angels who fund these e-commerce companies and hope they also make a lot of money in at least a few of them so they keep doing some bullshit consistently

Types of activities performed by business organizations

Types of activities performed by business organizations

The forms of business entities can be classified according to the type of ownership of the business entity.

1. Proprietorship Firm
2. Partnership Firm
3. Company 
4. LLP

Business entities can also be grouped by the type of business activities they perform:

1. Service Entities
2. Merchandising Entities,
3. Manufacturing Entities.

Any of these activities can be performed by companies using any of the four forms of business organizations.

Service Entities perform services for a fee. This group includes accounting firms, law firms, and dry cleaning establishments. The early chapters of this text describe accounting for service companies.

Merchandising Entities purchase goods that are ready for sale and then sell them to customers. Merchandising companies include auto dealerships, clothing stores, and supermarkets.

Manufacturing Entities buy materials, convert them into products, and then sell the products to other entities or to the final consumers. Manufacturing Entities include steel mills, auto manufacturers, and clothing manufacturers.

All of these entities prepare “financial statements” as the final end product of their accounting process. These financial statements provide relevant financial information both to people those inside the entities —management—and to those outside the entities—creditors, stockholders, and other interested parties.

Cost Inflation Index Upto 2014-15

What is Cost Inflation Index:

The cost of inflation index has been notified by the Central Government year wise, commencing from the financial year 1981-82, having regard to seventy-five percent of average rise in the Consumer Price Index for urban non-manual employees for the immediately preceding previous year to such previous year by notification in the Official Gazette specify. The cost of acquisition/improvement will, thus, be indexed with reference the rate of applicable for the relevant year.

Financial Year                                                                      Cost Inflation index(CII)
2014-15
1024
2013-14
939
2012-13
852
2011-12
785
2010-11
711
2009-10
632
2008-09
582
2007-08
551
2006-07
519
2005-06
497
2004-05
480
2003-04
463
2002-03
447
2001-02
426
2000-01
406
1999-2000
389
1998-99
351
1997-98
331
1996-97
305
1995-96
281
1994-95
259
1993-94
244
1992-93
223
1991-92
199
1990-91
182
1989-90
172
1988-89
161
1987-88
150
1986-87
140
1985-86
133
1984-85
125
1983-84
116
1982-83
109
1981-82
100

 

I-T to look into credit history, loan repayment pattern of taxpayers

To recover maximum tax arrears with the optimum use of manpower, the income-tax department has decided to look into the credit history and loan repayment pattern of taxpayers and prioritise cases for recovery of past dues based on a defaulter’s ability to pay.

For this, the department would consult the Credit Information Bureau of India (Cibil) that assigns credit scores and maintains details of loans taken by individuals, partnerships and corporations, along with their PAN. Sources said tax officials would be able to get an idea of the assets and the financial health of an assessee against which a tax arrears recovery demand has to be pursued vigourously.

The I-T department which claims a massive Rs 6.74 lakh crore in arrears to be recovered is able to pursue cases accounting for only a small part of it every year due to appeals pending in various courts, inadequate assets to recover from defaulters and due to non-traceability of assessees. For FY15, it has set a target of recovering about Rs 42,000 crore of arrears, about 6% of the R7.4 lakh crore the government wants to collect this year by way of corporation tax, personal income tax and wealth tax, 15% more than what it raised last fiscal.

However, I-T will vigourously pursue recovery of arrears from defaulting partnerships and large corporations even via attaching the assets of partners and directors. In the case of individual taxpayers who have expired, it intends to reach out to their legal heirs, said a field officer, who asked not to be named.

The tax authority wants to cut down the quantum of arrears to be recovered and would consider writing off smaller demands.

http://www.financialexpress.com/news/it-to-look-into-credit-history-loan-repayment-pattern-of-taxpayers/1290155

Work From Home – Cyber Crime Scams: Are you a Victim

The Work From Home concept is very attractive for most people, as the advertisements offer huge sums of money for a few hours of simple work. But would you really be paid well for doing nothing much! If it is too good to be true, then it probably is not true!

The modus operandi is usually attractive advertisements on websites, public places and social media. The application procedure involves filling up a form with all your details and you have to purchase a welcome kit. If you refer more people then you get paid a percentage for each reference that materializes, so basically you make other people also fall prey to the scam.

The scope of work is mostly like:
– Envelope stuffing (mailing programs)
– Assembly work
– Gifting programs
– Email processing
– Rebate processing
– Repackaging
– Payment processing
– Jobs that ask for money to hire you
– Businesses that don’t have an evident product or service.

If you are a victim of a work from home scam, then cyber laws has recourse for you.If the scammers use your personal data to make fake profiles and commit any crimes, then they are liable under Section 66-D for Cyber Personation, which is punishable with imprisonment upto 3 years and a fine.

The scammers are liable for Identity Theft under Section 66-C if they use your password or any other unique identification feature.

The scammers are liable under Section 43 of the Information Technology Act makes unauthorized access an offence, and Section 43 A makes a Company liable for breach of privacy and confidentiality by payment of compensation to the victim for failure to protect data.

The data that you provide to the scammers is priceless. Along with your personal information they have your credit card data too and misuse the same. When you purchase the welcome kit you may not be directed to a safe payment portal. This renders you vulnerable credit card frauds. And your personal data is sold to marketing companies without your consent.

A leading case of this type of scam was when the Cyber Crime Cell of Crime Branch, C.I.D., Mumbai Police arrested a person by name Sripathi Guruprasanna Raj, aged 52 years old, who is the Chairman and Managing Director of Sohonet India Private Ltd., a company based in Chennai. Many complainants based in Mumbai had complained to the Cyber Crime Investigation Cell, that the said company has duped them each for Rs. 4,000/- and Rs. 6,000/- by promising them with monthly income of Rs. 15,000/-.

Cyber Crime Cell of Crime Branch, C.I.D., Mumbai Police have arrested a person by name Sripathi Guruprasanna Raj, aged 52 yrs who is the Chairman and Managing Director of Sohonet India Private Ltd., a company based in Chennai. Many complainants based in Mumbai had complained to the Cyber Crime Investigation Cell, that the said company has duped them each for Rs. 4,000/- and Rs. 6,000/- by promising them with monthly income of Rs. 15,000/-. The company had through its website having URL http://www.sohonetindia.com and through various attractive advertisements in the news papers as well as by holding seminars in five star hotels, in various metropolitan cities like Mumbai, Delhi, Kolkata, Bangalore etc. had lured the various computer literate people with attractive schemes named Instant Treasure Pack (ITP) and Green Channel The company then asked the interested people to register with their company for which they charged the registration fees of Rs. 4,000/- which was later increased to Rs. 6,000/-. The company CMD, Mr. Raj promised the people so registered that they would be provided with the data conversion job which would enable them to earn Rs. 15,000/- per month. The company then collected huge amount from the gullible computer users. Some of the users were provided with the job work whereas others were not even provided the job work (data conversion job) assured to them. The users who worked hard and completed the assignments did not receive any payment for the same, and when they tried getting in touch with the company, they received no response.