Mar 31, 2009


7:53 PM 1
Excel Spreadsheet to view loan amortization schedule with extra payments option. This calculator accommodates loan upto 20 years.
This calculator has the option of extra payment too which is very easy to work

How Loan Calculator with Extra Payments Works?

Simply enter:

1. Loan Amount
2. Annual Interest Rate
3. Loan Period in Years
4. Number of Payments per Year
5. Date

Now you can view total, principal and interest payments. Also you can make extra payments each period


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Mar 24, 2009


8:51 PM 0
In most of the cases ,House Rent Allowance(HRA) is part of salary package .so exemption of Hra how to calculated is most of us is want to know infact most of person already know about HRA exemption,I am giving this to shares my understanding on the above issue which may be useful for many of this site visitors.if you have any different views or any point left in this post ,please record in the comment section.
calculation of HRA exemption.

• least of following three will be exempted
1. Hra received
2. 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) and 40 % of salary in in any other case.
3. rent paid in excess of 10 % of salary

other points to be noted
1. Salary for this purpose mean
1. Basic salary
2. Dearness Allowance if terms of employment so provides.
3. commission based on a fixed percentage of trunover.
4. all other allowances and perquisites is to be excluded.

2. Salary related to period of rent should only be considered on due basic .
3. Salary received in period as advance or arrear not related to calculation period should not be included.
4. For calculating 40/50 % as per point 2 above place of residential accommodation is important ,not where the person is working.suppose Rajiv taken a house in Delhi on rent but has working in Rohtak than he is eligible as per point 2 upto 50 % as house is situated in Delhi.
5. The calculation should be done on separately(monthly) if salary or HRA has varies during the year.
6. No,Hra exemtion if House rent paid is less than 10 % of salary.
7. Again exemption is denied where an employee lives in his own house, or in a house for which he has not paid any rent.

Calculate Your Hra Exemption Online Now from below Calculator (fill only yellow cells)

Mar 15, 2009

Haryana 6th Pay Commission Calculator Excel Based

7:04 PM
Haryana 6th Pay Commission, Excel Based Calculator
As everyone know that the Haryana Govt. has announced 6th pay commission report in the interest of their employees. For your help we provide a Excel based 6th Pay scale/Salary/Arrear Calculator. This calculator inculdes arrear calculations. The arrear amount will be given 40% in f.y. 2008-09 and the balance 60% of the whole will be given in next year.
Stay Connected here, We will try to update this Calculator time to time

Tags-6th pay calculator,haryana 6th pay calculator,6th pay calculation,6th pay scale calculation haryana,haryana 6th pay calculation in excel

Mar 14, 2009

Mar 13, 2009


1:20 PM 0

Procedure for e-payment:

1. To pay taxes online the taxpayer will select the relevant challan i.e. ITNS 280, ITNS 281, ITNS 282 or ITNS 283, as applicable.

2. Enter its PAN / TAN as applicable. There will be an online check on the validity of the PAN / TAN entered.

3. If PAN/ TAN is valid the taxpayer will be allowed to fill up other challan details like accounting head under which payment is made, name and address of TAN and also select the bank through which payment is to be made, etc.

4. On submission of data entered a confirmation screen will be displayed. If the taxpayer confirms the data entered in the challan, it will be directed to the net-banking site of the bank.

5. The taxpayer will login to the net-banking site with the user id/ password provided by the bank for net-banking purpose and enter payment details at the bank site.

6. On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. This counterfoil is proof of payment being made

e-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of the banks listed below, which are the only banks offering this facility at present.

  • Account Holders of
  1. Axis Bank
  2. State Bank of India
  3. Punjab National Bank
  4. Indian Overseas Bank
  5. Canara Bank
  6. Indian Bank
  7. Bank of India
  8. Corporation Bank
  9. State Bank of Bikaner & Jaipur
  10. State Bank of Travancore
  11. State Bank of Indore
  12. Vijaya Bank
  13. HDFC Bank
  14. Oriental Bank of Commerce
  15. State Bank of Patiala
  16. Bank of Baroda
  17. IDBI Bank
  18. State Bank of Mysore
  19. Bank of Maharashtra
  20. State Bank of Hyderabad
  21. Union Bank of India
  22. Allahabad Bank
  23. Dena Bank
  24. Syndicate Bank
  25. ICICI Bank
  26. United Bank of India
  27. UCO Bank
  28. Central Bank of India
  29. Andhra Bank
  30. Jammu & Kashmir Bank

Mar 11, 2009


1:32 PM 0
S.No Activity Excise
Sub-class under
MC Classification
Tobacco and tobacco products
including cigarettes and pan masala
24.10 to 24.04 &

2. Thermal Power Plant (coal/oil based)

3. Coal washeries/dry coal processing

4. Inorganic Chemicals excluding
grade oxygen (2804.11), medicinal
hydrogen peroxide (2847.11),
compressed,air (2851.30)
Chapter 28

5. Organic chemicals excluding
(29.39), sugars* (29.40)
Chapter 29 24117

6. Tanning and dyeing extracts, tanins and
derivatives, dyes, colours, paints
varnishes; putty, fillers and other
mastics; inks
Chapter 32 24113/24114

7. Marble and mineral substances not

8. Flour mills/rice mills 11.01 15311

9. Foundries using coal

Minerals fuels, mineral oils and
products of their distillation.
Bituminous substances: mineral waxes
Chapter 27

11. Synthetic rubber products 40.02 24131

12. Cement clinkers and asbestos, raw
Explosive (including industrial
explosives, detonators & fuses, fire
works, matches, propellant powders,
36.01 to 36.06 24292

14. Mineral or chemical fertilisers 31.02 to 31;05 2412

15 Insecticides, fungicides & pesticides
manufacture and formulation)
3808.10 24211/24219

16 Fibre glass & articles thereof 70.14 26102

17 Manufacture of pulp-wood, pulp,
mechanical or chemical (including
dissolving pulp)
47.01 21011

18 Branded aerated water/soft drinks
(non-fruit based)

19 Paper
Writing or printing paper, etc.
Paper or paperboard, etc.
Maplitho paper, etc.
Newsprint, in rolls or sheets
Craft paper, etc.
Sanitary towels, etc.
Cigarette paper
Grease-proof paper
Toilet or facial tissue, etc.
Paper & paperboard, laminated
internally with bitumen, tar or asphalt
Carbon or similar copying paper
Products consisting of sheets of paper
or paperboard, impregnated, coated or
covered with plastics, etc.
Paper and paperboard, coated
impregnated or covered with wax, etc.
21011 to 21019

Plastics and articles thereof 39.09 to 39.15


1:28 PM 0

Advantage Uttaranchal - Fiscal
100% Central Excise exemption for 10 years on items other than those mentioned in the negative list in the Concessional Industrial Package announced by the Central Government
100% Income Tax exemption for first 5 years and 30% for next 5 years for the Companies and 25% for others
CST @1% for 5 years
Capital Investment Subsidy @15% with maximum of Rs. 30 Lakhs (Rs. 3 million).
Central Transport Subsidy extended till 2007.
Exemption from entry tax on Plant & Machinery for setting up Industry or undertaking substantial expansion and modernization
Land use conversion and development charges and regime will be rationalized
Stamp duty concession will be provided in respect of land in specialized commodity parks, including I.T. parks
Interest incentive @ 3% with a maximum of Rs. 2 Lakhs per annum per unit shall be provided to New Small Scale Industries (SSIs) and existing SSIs for modernization and substantial expansion, provided they have available loan from State level Financial Institutions or Banks operating in Uttaranchal and not defaulted in payment of principal or interest installments. However, for S.S.I. units and units notified as Thrust Industries being set up in remote areas, the interest incentive shall be granted @ 5% with a maximum of Rs. 3 Lakhs/annum. The interest incentives shall be admissible to the unit only if it remains in operation for last installment, failing which the Government will have the right to recover the amount of incentive availed.
For the purpose of Interest Incentive, Substantial Expansion shall mean additional investment of not less than 25% of the underpreciated book value of plant and machinery of an industrial unit
For the purpose of the Interest incentive, modernization of new existing Industrial units means additional investment to the extent of 25% of the underpreciated book value of plant and machinery, made in acquisition of plant and machinery and technical know-how for such modernization
For revival/rehabilitation of sick SSI units, interest incentive @ 3% with a maximum of Rs. 2 Lakhs per annum shall be provided on the loan taken under fully tied up revival and rehabilitation package from financial institutions, banks etc. For entrepreneurs in remote areas the interest incentive will be granted @ 5% with a maximum of Rs. 3 Lakhs per annum. The interest incentive shall be admissible to the units only if it remains in operation for minimum of 3 years from the date of date of disbursement of last installment, failing which Government will have the right to recover the entire amount of incentive availed
In the case of sick non-SSI units, Government will sympathetically consider measures required under revival/rehabilitation package drawn by Operating Agency/Financial Institutions/Banks
100% exemption on Entertainment tax will be allowed for Multiplex project in the State for period of three years, and for all new amusement parks and ropeways for five years.
75% of the Total Expenditure subject to a maximum of Rs. 2 Lakhs incurred in obtaining national/internationally approved quality marks such as ISO series certificate etc., shall be reimbursed to the entrepreneurs provided that the reimbursement/grant availed for this from all sources should not exceed the total expenditure on this head
50% of the expenses subject to a maximum of Rs. 1 Lakhs incurred in installing pollution control equipments shall be reimbursed to the entrepreneurs, provided that the total reimbursement/grant availed for this from all sources should not exceed the total expenditure on this head.
75% of the cost subject to a maximum of Rs. 2 Lakhs shall be made available to the entrepreneurs in the shape of assistance for registering their patents, provided that the total reimbursement/grant availed for this from all sources should not exceed the total expenditure on this head.
For educated unemployed youth, financial loan assistance for project upto Rs. 2 Lakhs in case of Manufacturing/Services Industry and project upto Rs. 1 Lakhs in business sector shall be available under the “PRIME MINISTER ROZGAR YOJNA” with subsidy of 15% of the project cost subject to a maximum of Rs. 15,000. Age limit has also been relaxed under this scheme from 35 years to 40 years
Industries generating employment opportunities shall be encouraged
Purchase preference and price preference will be given to State SSIs in State purchases
Purchase preference shall be accorded to Non-SSI units within the State vis-à-vis units outside the State
Matching State subsidy on approved projects of National Horticulture Board (NHB), Agriculture & Processed Food Products Export Development Authority (APEDA), National Medicinal Plants Board (NMPB) subject to a maximum of Rs. 20 Lakhs and subject to a total subsidy not exceeding over 50% of the project cost


1:19 PM 0
J&K SIDCO - Industrial Policy 2004

Despite attractive fiscal incentive under the State’s Industrial Policy (1998-2003), the rate of growth of industrial sector could not be accelerated primarily on account of the disturbed conditions in the State. Competition from cheaper imported products, coming into the country as a result of the policy of globalization and economic liberalization pursued by the Government of India, has also forced many local SSI units to down their shutters. With the problem of unemployment, particularly of the educated, being high, the Industrial Policy 2004 has been evolved keeping in view the experience gained in the last five years and some new positive elements that have entered the scene.

Industrial Policy 2004 will remain in operation from 1st February, 2004 until 31-03-2015.

Objectives - Industrial Policy 2004

The primary objectives of the Industrial Policy 2004 are :

To achieve sustainable industrial development in all regions for increasing the rate of growth, value of output, employment, income and overall economic development of the State;
To strive towards balanced economic and social development in all regions of the State by promoting industrialization particularly of the industrially backwards areas;
To encourage and sustain the cottage and tiny industrial sector with low investment, is able to provide employment to a large number of people in the state.
To create a supportive environment with transparency and easy access in information technology and financial resources.
To revive potentially viable sick industrial units so as to put to optimum use the capital and other resources already employed in such enterprises.
To promote the growth of thrust and export-oriented industries and encourage high-tech and knowledgeable based industries including information technology.
To take necessary steps in the field of Human Resources Development to make available skilled / technical manpower as per the needs of industry.

Approach & Strategy - Industrial Policy 2004

The strategy for achieving the objectives, and the main elements, of the Industrial Policy 2004 are:

Providing improved infrastructure and support services, with emphasis on regular and uninterrupted power supply.
Attractive incentives of the Government of India and of the state government.
Single window clearance system for power, pollution control, land allotment and registration of industrial unit.
Closer interaction with financial Institution and commercial banks, to ensure regular and adequate flow of finances to the industrial sector.
Rehabilitation of potentially viable sick industrial units.
Improving competitiveness of existing industrial units by facilitating modernisation aimed at enhancing productivity, energy efficiency and better environment management.
Enabling manufacturers of quality consistent products to augment their sales within and outside the state by brand promotion.
Reorienting Industries and Commerce Department.
Export promotional measures to augment export of products of the state outside the country.
Permanent Grievance Redressal System to remove bottlenecks in import and export of products to and fro the state.
Environment protection, to conform to state, national and global regulations.
Entrepreneurship development in the state, to provide opportunities to educated unemployed.
Encouraging Research & Development.
Focusing on thrust areas with natural advantages in the state and facilitating large investments in prestigious projects.

Package of Incentive - Industrial Policy 2004

Construction of a Captive Tube-well : 75% subsidy allowed, for a prestigious unit in any of the thrust area, max. amt. of Rs. 22.50 lakhs, over CIS.
Modernisation of Existing Units : Subject to a limit of Rs. 30 lakhs.
Brand Promotion : Rs. 20 lakhs-1st Yr., Rs. 15 lakhs-2nd Yr., Rs. 10 lakhs-3rd Yr.
Pre-Investment Studies/Feasibility Reports : Rs. 2.00 lakhs for preparation of project report from approved consultants.
DG Sets : 100% subsidy on new DG Sets ranging from 10 KW to 100 KW.
Mini/Micro or Captive Power Units : No electricity duty/state excise till 25 Years.
Price / Purchase Preference : Upto 15% on Government Purchase from SSIs.
Stamp Duty : Mortgage deeds in f/o Fls. exempted from the payment of stamp duty.
Exemption of Court Fee : For registration of documents relating to lease of land.
Toll Taxes : No additional toll tax on the raw materials, fuels consumable and finished goods.
VAT : Small, medium & large scale industrial units shall be provided relief under VAT till March 2010.
Central Sales Tax : Exempted on sale of finished goods outside the state.
Interest Subsidy : 3% subsidy shall be payable on the working capital facilities.
Testing Equipment : 100% Capital subsidy, max amt. of Rs. 25 lakhs.
Air Freight Subsidy : On finish goods and raw materials for any destination @ 50% subject to a maximum of Rs. 5 lakhs per year per unit.
Pollution Control Equipment : 30% subsidy, max. amt. of Rs. 20 lakhs.
Interest Subsidy for Technocrats : 5% interest subsidy on term loan.
Research and Development (R&D) : 50% subsidy, max. amt. of Rs. 5 lakhs.
Upto Rs. 4.00 Crores subsidy on Agro-based Projects under mini mission-IV.
Human Resource Development : Max. of Rs. 5 lakhs for male & Rs. 7.5 lakhs for women trainees on programs for skill development leading to employment.
Transport Subsidy : This is Govt. of India scheme and shall continue as such.
Difficult Area Subsidy : Govt. of India scheme for grant upto Rs. 75.00 lakhs @ 33.33% for Food Processing Projects

Mar 7, 2009


9:47 PM 0

There are a few things that can be done in times of grave emergencies. Your mobile phone can actually be a life saver or an emergency tool for survival. Check out the things that you can do with it:

1. Emergency

The Emergency Number worldwide for Mobile is 112. If you find yourself out of the coverage area of your mobile; network and there is an emergency, dial 112 and the mobile will search any existing network to establish the emergency number for you, and interestingly this number 112 can be dialed even if the keypad is locked. Try it out.

Also in Australia , the Australian emergency number 000 can be dialled whilst your mobile phone keyboard is locked. This is another reason why 000 receives so many false emergency calls!

2. Have you locked your keys in the car?

Does your car have remote keyless entry? This may come in handy someday. Good reason to own a cell phone: If you lock your keys in the car and the spare keys are at home, call someone at home on their mobile phone from your cell phone.

Hold your cell phone about a foot from your car door and have the person at your home press the unlock button, holding it near the mobile phone on their end. Your car will unlock. Saves someone from having to drive your keys to you. Distance is no object. You could be hundreds of miles away, and if you can reach someone who has the other "remote" for your car, you can unlock the doors (or the trunk).

Editors Note: It works fine! We tried it out and it unlocked our car over a mobile phone!"

3. Hidden Battery Power

Imagine your mobile battery is very low. To activate, press the keys *3370# Your mobile will restart with this reserve and the instrument will show a 50% increase in battery. This reserve will get charged when you charge your mobile next time.

4. How to disable a STOLEN mobile phone?

To check your Mobile phone's serial number, key in the following digits on your phone!:


* # 0 6 #

A 15 digit code will appear on the screen. This number is unique to your handset. Write it down and keep it somewhere safe. When your phone get stolen, you can phone your service provider and give them this code. They will then be able to block your handset so even if the thief changes the SIM card, your phone will be totally useless. You probably won't get your phone back, but at least you know that whoever stole it can't use/sell it either. If everybody does this, there would be no point in people stealing mobile phones.

Not only the above, but also in Australia your stolen phone is added to a "Stolen Mobile Phone" database, so if your phone is found later on it can be returned to you


9:10 PM 0
securities Transaction Tax (STT) is the tax payable on the value of taxable securities transaction. STT was introduced in India by the 2004 budget and is applicable with effect from 1st October 2004.

What all is covered by Securities?
Securities definition is as per section 2(h) of the Securities Contracts (Regulation) Act, 1956, but for our purpose, let’s just simply says Securities mean Equity Shares and Equity Derivatives (i.e. Futures and Options). Full definition of Securities is given in Appendix, for information.

What are taxable transactions?
Purchase and Sale of securities through a recognized stock exchange in India. STT is not applicable on off-market transactions.

What rate is STT payable?
STT is applicable at different rates depending upon the security (whether equity or derivative) and the transaction (whether purchase or sell). Current STT rates are given below. Note that Service Tax, Surcharge and Education Cess are not applicable on STT.

STT applicable for Equity Transactions
Delivery Transactions
Purchase: 0.125% of Turnover i.e. (Number of Shares * Price)
Sell: 0.125% of Turnover i.e. (Number of Shares * Price)

Intra-day Transactions
Purchase: NIL
Sell: 0.025% of Turnover i.e. (Number of Shares * Price)

STT applicable for Derivative Transactions
Future Transactions
Purchase: NIL
Sell: 0.017% of Turnover i.e. (Number of Lots * Lot Size * Price)

Option Transactions
Purchase: NIL at the time of purchase of option. However the purchaser has to pay 0.125% of the Settlement Price i.e. (Number of Lots * Lot Size * Strike Price), in case of option exercise
Sell: 0.017% of Premium

Summary of the STT rates is given in the table below:
Transaction STT rate Charged on
Purchase 0.13% Turnover
Sell 0.13% Turnover
Purchase - -
Sell 0.03% Turnover
Purchase - -
Sell 0.02% Turnover
Purchase 0.13% Settlement price, on exercise
Sell 0.02% Premium

Income Tax and STT
Taxation of profit or loss from securities transactions depends on whether the activity of purchasing and selling of shares / derivatives is classified as investment activity or business activity. Treatment of STT also depends upon whether the income from these securities transactions are included under the head “Income from Capital Gains” or under the head ‘Profits and Gains of Business or Profession’.

Scenario 1: ‘Income from Capital Gains’

This refers to the scenario where the assesses is either Salaried or is engaged in some other business or profession and trading in securities is not the main line of business. In such cases gains or losses from securities transactions are taxed under the head “Income from Capital Gains”. Gains or losses are subject to Short Term Capital Gains (STCG) or Long Term Capital Gains (LTCG) tax depending upon the period of holding, i.e., if the holding period is less than 1 year, gains are classified as STCG and if the holding period is equal to or greater than 1 year, gains are classified as LTCG. Any equity share, which has been sold through a recognized stock exchange and on which STT has been paid, is entitled to exemption from LTCG under Section 10 (38) of the Act. Similarly, in case of STCG of such shares, the gains shall be taxed only at 15%, plus surcharge and education cess under section 111A of the Act.

Important points to note:
· STCG and LTCG rates of 15% and NIL are available only if the specified security is sold through a recognized stock exchange. Private deals or transactions, not routed through a recognized stock exchange in India, will not be covered
· The purchase of the specified securities could be through any mode and need not be through a recognized stock exchange
· The exemption is not available to transactions where STT has not been paid
· Since LTCG is exempt, Long Term Capital Loss, arising from these specified securities, cannot be set-off against any other gain/income. This loss shall lapse
· As per section 40(a)(ib) of the Income tax Act, STT cannot be claimed as an expense in computing the income chargeable under Capital Gains
Scenario 2: ‘Profits and Gains of Business or Profession’

This refers to the scenario where main business of the assesses is trading in securities. In such cases the gains or losses are classified as business income, which is taxed at the regular rate of income tax. STT paid in respect of taxable securities transactions entered into in the course of business shall be allowed as deduction under section 36 of the Income-tax Act. Until 31st March 2008, the amount of STT paid was allowed as rebate under section 88E of the Income-tax Act. However, with effect from 1st April 2008, rebate available under section 88E has been discontinued.

“Securities” is defined in Section 2(h) of the Securities Contracts (Regulation) Act, 1956, to include:
(i) shares, scrip’s, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;
(ii) derivative;
(iii) units or any other instrument issued by any collective investment scheme to the investors in such schemes;
(iv) security receipt as defined in section 2(zg) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002;
(v) Government securities;
(vi) such other instruments as declared by the Central Government; and
(vii) rights or interest in securities

Mar 6, 2009


9:29 PM 0
Ok, I figured it was time to post predictions for 2009 article since everyone is wondering what’s going to happen this year. Since most predictions fail, why not throw my own hat into the ring and we will see what happens later on this year.

US Mortgage Crisis: The recession will worsen as the second phase of the mortgage crisis hits the US market. This will continue to leave home inventories at record highs and drive down the demand for goods. Both small and large companies alike will struggle to survive, but only the cash wealthy ones will make it into 2010.

US Economy: More well known companies will file for bankruptcies as the recession wosens. American commercial interests around the world will continue to decline for 2009. People will rally to “buy American” when it comes to automobiles as the car makers teeter on collapse. I predict the big 3 automakers will survive this recession and come out stronger in the end.

INDIA Politics:- The Congress will again form the government by winning around 150-170 seats in coming LS elections & will form the government by different tools.

Internet: Online surfers will contend with the rise of another global search provider other than Google. Will it be MSN or Yahoo or somebody new?

War and Terrorism: The United States will vow to leave the Middle East, but only after its mission is complete, which will take an additional 4 years, so get comfortable with US troops staying there for a while. I predict minor terrorist activity in the United States, but nothing that will leave any impact.

Osama Bin Ladin: The truth will come out that Osama Bin Ladin has been dead for several years and that the United States is coving it up.

Unusual Weather: 2009 will bring extremely unusual weather to some parts of the United States, even more irregular than what we have seen in the past.

Gas Prices: Gas prices will stay moderately low with only minor fluctuations until 2010.

President Obama: Obama will try to spend his way out of the recession and keep a positive view on the enconomy, but things will continue to go really bad. An assisination attempt on President Obama will become public in May 2009, which will fail.

So there you have it, my predictions for 2009. I will post a follow-up to this post when there are major updates to this story

Mar 1, 2009


9:10 PM 0


ma ma dha dha sa



ni ni pa pa dha



ga ga pa pa dha



dha dha pa pa ma


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