washing machine

New Income Tax Slab for FY 2010-2011

New Income Tax Slab for FY 2010-11 Income upto Rs.1.6 lakh Nil Income above Rs.1.6 lakh and upto Rs.5 lakh 10 per cent Income above Rs.5 lakh and upto Rs.8 lakh 20 per cent Income above Rs.8 lakh 30 per cent Particulars Taxable/Non- Taxable Exemption/Rebate Limit Taxable Items: - - - Basic Pay Fully Taxable - - Dearness Pay Fully Taxable - - Grade Pay Fully Taxable - - Dearness Allowance Fully Taxable - - House Rent Allowance Fully Taxable - - City Compensate Allowance Fully Taxable - - Medical Allowance Fully Taxable - - Family Planning Allowance Fully Taxable - - Arrear Amount Fully Taxable - - Maturity Amount of NSC Fully Taxable - - Total amount withdrawn from NSS Fully Taxable - - Transport Allowance Partially Taxable Rebate Maximum upto Rs.800 PM Children Education Allowance Partially Taxable Rebate Maximum upto Rs.100 PM Deductions: Less-Allowance U/S 10(13A) Actual Rent Paid - Exempt Actual amount of HRA received or Expenditure on rent in excess of 1/10th of the salary or 50% of Salary, which ever is less Rent Paid Interest on HBA U/S 24 - Deduction Maximum Rs.1,50,000 Reimbursement of Medical Exp. U/S 17(2)V - Deduction Maximum Rs.15,000 U/S 80C - Deduction Maximum Rs.1,00,000 Refund of loan taken for the construction of House - Deduction Maximum Rs.1,00,000 C.P.F / G.P.F - Deduction Maximum Rs.1,00,000 G.I.S - Deduction Actual LIC Premium - Deduction Maximum Rs.1,00,000 Subscription of N.S.C. / P.P.F - Deduction Maximum Rs.1,00,000 Interest Occurred on investment in N.S.C. - Deduction Maximum Rs.15,000 C.T.D. / L.I.P. / ULIP (Mutual Fund) - Deduction Maximum Rs.1,00,000 Unit Linked Plan - Deduction Maximum Rs.1,00,000 Tuition Fee (Limited to 2 children) & (After XII th full time course) - Deduction Maximum Rs.1,00,000 5 Years Fixed deposit & 5 years time deposit scheme - Deduction Maximum Rs.1,00,000 U/S 80D CCC - Deduction Maximum Rs.10,000 U/S 80CCD - Deduction Maximum 10% of BP & DA (Recruited on or after 1.1.2004) Medi Claim Premium U/S 80D - Deduction Maximum Rs.15,000 (Other than above Rs.1,00,000) Premium paid for Self, Spouse & Children - Deduction Maximum Rs.15,000 (other than above Rs.1,00,000) Premium paid for Parents (If parent is not senior citizen) - Deduction Maximum Rs.20,000 (Other than above Rs.1,00,000) Premium paid for Parents (If parent is senior citizen) - Deduction Maximum Rs.20,000 (Other than above Rs.1,00,000) U/S 80DD - Deduction Handicapped dependents :spouse, son / daughter, parents and brother / sister - Deduction Rs.75,000 to Rs.1,00,000 U/S 80DDB - Deduction Maximum Rs.400,00 (other than above Rs.1,00,000) U/S 80E - Deduction Entire amount (Interest on higher Education/Study loans) U/S 80 G - Deduction Deduction for contribution to charitable organization U/S 80U - Deduction Disability Deduction Rs.75,000 to Rs.1,00,000 Tax Relief - Additional savings in Infrastructure Bonds : Rs.20,000 CGHS subscription will be exempted u/s 80D

Hi,..- -!

Dear friend, How are you recently?
Now is the sixtieth anniversary of China's National Day. China's
www.wwooz.com company held a large-scale promotional activities, my
friend ordered a laptop computer a few days ago, In just a week he
received the laptop . Its price is very cheap and the quality is very
good. In addition, the company aslo sells mobile phones, notebook
computers, all kinds of LCD TVs, motorcycles, digital cameras and so
on. This is a good opportunity not to be missed! I believe it will
bring you a lot of surprises.

fisherman story

An American businessman took a vacation to a small coastal
Mexican village on doctor's orders. Unable to sleep after an
urgent phone call from the office the first morning, he walked out to
the pier to clear his head. A small boat with just one fisherman had
docked, and inside the boat were several large yellowfin tuna. The
American complimented the Mexican on the quality of his fish.
"How long did it take you to catch them?" the American asked.
"Only a little while," the Mexican replied in surprisingly good
English.
"Why don't you stay out longer and catch more fish?" the American
then asked.
"I have enough to support my family and give a few to friends,"
the Mexican said as he unloaded them into a basket.
"But... What do you do with the rest of your time?"
The Mexican looked up and smiled. "I sleep late, fish a little, play
with my children, take a siesta with my wife, Julia, and stroll into the
village each evening, where I sip wine and play guitar with my
amigos. I have a full and busy life, senor."
The American laughed and stood tall. "Sir, I'm a Harvard M.B.A.
and can help you. You should spend more time fishing, and with the
proceeds, buy a bigger boat. In no time, you could buy several boats
with the increased haul. Eventually, you would have a fleet of fishing
boats."
He continued, "Instead of selling your catch to a middleman, you
would sell directly to the consumers, eventually opening your own
cannery. You would control the product, processing, and distribution.
You would need to leave this small coastal fishing village, of course,
and move to Mexico City, then to Los Angeles, and eventually New
York City, where you could run your expanding enterprise with
proper management."

The Mexican fisherman asked, "But, sefior, how long will all this
take?"
To which the American replied, "15-20 years. 25 tops."
"But what then, sefior?"
The American laughed and said, "That's the best part. When the
time is right, you would announce an IPO and sell your company
stock to the public and become very rich. You would make millions."
"Millions, senor? Then what?"
"Then you would retire and move to a small coastal fishing village,
where you would sleep late, fish a little, play with your kids,
take a siesta with your wife, and stroll to the village in the evenings
where you could sip wine and play your guitar with your amigos ..."

--

Mark Twain  - "There is no sadder sight than a young pessimist."

--

H. L. Mencken  - "Nobody ever went broke underestimating the taste of the American public."

Corporate Story...

Once upon a time the government with Ruling Party XYZ.. had a vast
scrap yard in the middle of a desert.

Ruling Party XYZ Said.. - "Someone may steal from it at night."

So they created a night watchman position and hired a person for the
job. Then Ruling Party XYZ

Said..

- "How does the watchman do his job without instruction?"

So they created a planning department and hired two people, one person
to write the instructions, and one person to do time studies. Then
Ruling Party XYZ Said..,

- "How will we know the night watchman is doing the tasks correctly?"

So they created a Quality Control department and hired two people. One
to do the studies and one to write the reports. Then Ruling Party XYZ
Said.. ,

- "How are these people going to get paid?"

So they created the following positions, a time keeper, and a payroll
officer, then hired two people. Then Ruling Party XYZ Said..,

- "Who will be accountable for all of these people?"

So they created an administrative section and hired three people, an
Administrative Officer, Assistant Administrative Officer, and a Legal
Secretary. Then Ruling Party XYZ Said..,

- "We have had this command in operation for one year and we are
$18,000 over budget, we must cutback overall cost."

So they lay off the night watchman.

Moral of the story:

"Current Situation In IT industries"

Things to consider. please feel free to add your points
For..
1. Yes we are growing and i guess faster then the world.
2. We have a large population which if really becomes productive will give us something world has never seen (yet)..


Against.
1. We are way too poor to do anything by ourselves. the gdp of california is double of india (yes if you dont believe search on internet)
2. Government and bureaucrats and even indian industry is corrupt so that sorts of blocks the economy from growing
3. Growth is concentrated is only reaching the already rich people making it meaningless ..

"Yahoo was never the strategy we were pursuing," he told a packed hall at a technology conference in Moscow

..

We will spend money on some acquisitions. You can do a whole lot of things with 50 billion dollars," he added.

http://biz.yahoo.com/rb/080523/microsoft_yahoo.html?.v=5