Q: When have you taken a daring/unwanted/risky/unwillingness/life changing decision?
A: Whenever it is matter of survival/hunger/necessity, I did!!!
Tuesday, September 13, 2011
Few more collections of Inspiring Words!!!
“The only way to discover the limits of the possible is to go beyond them into the impossible.”
--Arthur C. Clarke
How do you instinctively respond when the going starts getting more than just a little tough? Do you intuitively rise up to meet the challenge or do you instead bend or even break under the pressure? Do you automatically summon forth the extra effort required to go above and beyond the call of duty or do you toss in the towel and call it quits? The way you naturally respond to life’s difficulties speaks volumes about your character — or lack thereof. Life quite often forces us to rise up to meet a wide array of daunting challenges tossed in our paths. Like it or not, stumbling blocks of all types and sizes can appear suddenly and without warning; obstacles that must be confronted and conquered if we’re ever going to reach our full potential on earth. And it’s in these precious split seconds — where we dare or decline to put our best to the ultimate test — that our fate and fortunes are decided.
“The first duty of man is to conquer fear; he must get rid of it, he cannot act till then.”
--Thomas Carlyle
Whether we elect to bite the bullet and take on life’s challenges head on or alternatively turn tail and run for cover will in large measure determine how far we go and how high we fly in life. And it’s in these daily tests of our strength, commitment and determination that we shape our futures and define our destinies. We can either make it — or break it — in the blink of an eye.Oh sure, it’s easy to utter the all too familiar phrase, “I’m doing the best that I can” when things appear bleaker than bleak and hope is barely hanging on by a thread. Way too easy. But let’s be honest here; are you really doing the BEST that you can possibly do — or are you simply trying to make yourself feel a little better as you let go of the rope?
“Out of difficulties grow miracles.”
--Jean De La Bruyere
It is precisely these most trying of times that can make us rather than break us, if we will simply tighten our grip and refuse to let go. Life isn’t nearly as complicated as we sometimes make it. More often than not, winning is nothing more than having the resilience to outlast the losing. Rather than toss out an overworked cliché about giving it your best, why not DO YOUR BEST and use life’s trying times to showcase what you are really all about. When push comes to shove, you need to push, PUSH, PUSH forward while shoving each and every excuse about why it can’t be done to the curb.
“Each difficult moment has the potential to open my eyes and open my heart.”
--Myla Kabat-Zinn
The next time you find yourself up to your eyeballs in problems, remember to keep your cool and relax for a few moments. Zero in on what you need to do, tighten your grip and then rise above and beyond the challenge you face. It’s OK to bend a little to regain your balance if you need to, but don’t allow the hurdle in front of you any opportunity to break you down! By giving it all that you can muster and then digging a little deeper and giving a little more, there’s not a problem on earth you cannot overcome.By choosing to rise above the problem you face instead of giving in or giving up, you can quickly get beyond the trouble in your path and get on down the road. Then, before you know it, the problem that once appeared insurmountable will begin to shrink out of sight in your rear view mirror.
Tuesday, September 6, 2011
Income Tax Basics
Few basics of Income tax we all should be aware of. For detailed information and rules and regulations of tax refer the links give as hyper link at the end.
1.12 WHO ALL HAVE TO PAY INCOME-TAX ?
- Individual including Non-resident, Hindu Undivided Families (HUF), Bodies of Individuals (BOI), Association of Persons (AOP) & Artificial Juridical Persons ( such as Deities of Temples) having taxable income exceeding Rs. 1.5 lakh (Rs. 1,80,000 for Resident Women assesses below 65 Years and Rs. 2,25,000 for Resident Senior Citizens.)
- Societies & Charitable / Religious Trusts having taxable income exceeding Rs.1.5 lakh.
- All Partnership Firms irrespective of their Income.
- Co-Op. Societies irrespective of their Income.
- All Companies irrespective of Income.
- Local Authorities like, Panchayats, Municipal Corporation etc.
g. Income Tax is charged on 5 different heads. Aggregate of taxable income under each head of income is known as Gross Total Income and
so Taxable Income = Gross Total Income - Allowance Deductions.
Deduction of Expenditure :
In computing income under various heads, deduction is allowed towards expenditure incurred in relation to earning the income. However, no deduction shall be allowed in respect of expenditure incurred in relation to incomes exempt from tax.
Computation of Gross Total Income :
It is the aggregate of incomes under various heads of income calculated after set-off of unabsorbed depreciation/loss, carried forward from earlier years.
Set-off and Carry Forward :
Set-off means adjustment of certain losses against the income under other sources / heads. Carry forward implies carrying forward of certain losses for set-off in subsequent years.
Total / Taxable Income :
Total / Taxable Income is computed after deducting permissible deductions under section 80A to 80U, from the Gross Total Income.
Where the Gross Total Income of the Assesses includes Short-Term Capital Gains from transfer of equity shares / units of an equity oriented mutual fund subject to Securities Transaction Tax or any Long-Term Capital Gains, then no deduction shall be allowed against such Capital Gains.
On this Taxable Income, Income Tax will be calculated as per the applicable rates.
so Taxable Income = Gross Total Income - Allowance Deductions.
Deduction of Expenditure :
In computing income under various heads, deduction is allowed towards expenditure incurred in relation to earning the income. However, no deduction shall be allowed in respect of expenditure incurred in relation to incomes exempt from tax.
Computation of Gross Total Income :
It is the aggregate of incomes under various heads of income calculated after set-off of unabsorbed depreciation/loss, carried forward from earlier years.
Set-off and Carry Forward :
Set-off means adjustment of certain losses against the income under other sources / heads. Carry forward implies carrying forward of certain losses for set-off in subsequent years.
Total / Taxable Income :
Total / Taxable Income is computed after deducting permissible deductions under section 80A to 80U, from the Gross Total Income.
Where the Gross Total Income of the Assesses includes Short-Term Capital Gains from transfer of equity shares / units of an equity oriented mutual fund subject to Securities Transaction Tax or any Long-Term Capital Gains, then no deduction shall be allowed against such Capital Gains.
On this Taxable Income, Income Tax will be calculated as per the applicable rates.
| Income Tax Rates / Tax Slabs (AY-2011-2012) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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