Mera Pehla Pehla Blog…. ;)


Well, its 10:47 pm, and i’m here, watching Badlapur (sharing one dialogue 15 Saal Pehle Use Chaurahe Pe Latka Dena Chahiye Tha, Par Yeh Bhi Theek Hai, Dhire Dhire Marega) in my Sweet Laptop and starting a blog. Funnn.  Just an average Saturday. I must admit, this is my first blog and I have absolutely no idea what i’m going to say.

Lets start off with a joke on a lighter note.

Sometime after independence three great leaders of the country –
Mahatma Gandhi, Lal Bahadur Shastri and Jawaharlal Nehru went to heaven.

God asked Lal Bahadur Shastri how many children he had during his time
on earth. He replied saying he had three! Happy with the relatively good family planning adopted, God gave Shastri a Mercedes!

Jawaharlal is next and on replying that he had 15 children, God is pretty angry and gives him an inexpensive Maruti.Sometime later the three see Mahatma Gandhi returning on foot. They ask why God hadn’t given him anything. Gandhiji replied with anger, “Some idiot told God that I was the father of the nation!“

Not funny??? yaar inni raat me political joke kyu???

kya kare bhaiya.. delhi me jo rehte h.. humm bhi thoda political ho gye h..:P 

Who are you?

Well this is an open ended question. my initial response is “I’m Ordinary Boy with extraordinary Dreams”, but somehow I think that response wasn’t the  one you were looking for. I am 24, a guy, and hail from Delhi, INDIA, the best country in the world.  I’m going to stop now because although i do love talking about myself, this is sounding more and more like i’m filling in a profile for a dating website… hahahha.. just kidding.

Why are you blogging?

I think a lot, and about many things like how to make more money, politics etc etc. People don’t always want to hear others rambling thoughts, and so I have turned to the internet, so that one day these thoughts of mine might inspire like minded people to greatness. But mostly I’m blogging because its  late night and blogging seems like a good idea.

What you will be blogging about?

Well, this blog is just going to basically be my thoughts and opinions on whatever subject i happen to have an opinion on that week, or maybe if something has made world headlines i’ll give my thoughts. Maybe i’ll put some “How To” guides on how to make cool stuff or do cool things. I’ll share links, photos. Also, this will be a place where I can unload all the things I think are wrong in the world, where I can rant and bitch about things that piss me off. But lets focus on the happy things, the funny pictures and “How To make life better.”

Okay, so this is the end of the first post. I’m going to try post about once a week, maybe more if i come across something cool to  write about.

Thanks for reading! Hope you visit again. I’m going to go get some much needed sleep.


Service Tax @14%



Rate of Service Tax will be 14% from 1st June 2015, instead of the 12.36% earlier. The new rate was proposed in the Budget and is now effective after the Finance Bill 2015 became a law post receiving President’s assent.

This is being done to bring the service tax rate in line with the overall GST implementation.

Some of the key services that will attract higher tax and hence become costlier are: Mobile Recharge, Credit card, railways, airlines, banking, insurance, advertising, architecture, construction, credit cards, event management and tour operators.

Although the Budget also proposed a 2 percent Swachh Bharat cess on selected services, the government is yet to come out with a notification in this regard.

Good Morning!!!


ship sunrise

I believe that everything happens for a reason.
People change so that you can learn to let go,
things go wrong so that you appreciate them when they’re right,
you believe lies so you eventually learn to trust no one but yourself,
and sometimes good things fall apart so better things can fall together.
~   Marilyn Monroe

Not filed Your IT Return? Hurry, You can file IT Return for last 2 years by 31st March 2015



Note that you can file income tax return even after the due date. Such returns are called Belated returns. However, there are some disadvantages of filing a belated income tax return. Not filing a return on time does have financial implications, especially if you have a net income tax payable and / or if you have losses to be carried forward. This can really hurt especially if the losses to be carried forward are significant. Therefore, your best option is to ensure that you file the income tax return by the deadline.

Disadvantages of filing late Return:

1. Cannot Carry Forward any losses: You will not be able to carry forward your Business loss (Speculation or otherwise) , capital loss , loss due to owning and maintaining of race horses. Only Depreciation losses are allowed to be carried Forwarded

2. Loss of Interest on refund : You may lose interest on refund u/s 244A specially in case if you are claiming a Major amount as refund.

3. Belated Returns Cannot be Revised.

4. Late filing may also delay processing for tax refunds.

5. Incremental Interest U/s. 234A – If the tax has not been paid before the end of the tax year concerned and you file the return late, incremental interest at the rate of 1% per month will be payable on the unpaid amount after the due date. This is in addition to the 1% per month interest for non-payment of advance tax, that is, tax due after tax deduction at source exceeding Rs 10,000. Thus, late returns can result in an additional interest burden.

Small Pleasure… :) ;)



Life is made up of small pleasures. Happiness is made up of those tiny successes. The big ones come too infrequently. And if you don’t collect all these tiny successes, the big ones don’t really mean anything.

By- Nornam Lear

We are dominated by striving: for better relationships, work and personal lives. Restless, we think, is synonymous with success. Nothing should be good enough for long. But, in so concerning ourselves with unattainable levels of excellence, we overlook more modest pleasures, closer to home.

Budget 2015: Deductions from Gross Total Income


Deductions from Gross Total Income

  • Exempt-Exempt-Exempt (EEE) tax benefit proposed for assessee having a girl child and investing under the Sukanya Samriddhi Account Scheme. The investments made in the Scheme will be eligible for deduction under section 80C of the Act, the interest accruing on deposits in such account will be exempt from income tax and the withdrawal from the said scheme in accordance with the rules of the said scheme will be exempt from tax.
  • In view of continuous rise in the cost of medical expenditure, section 80D is proposed to be amended to raise the limit of deduction from 15,000 to Rs. 25,000. Further, the limit of deduction for senior citizens is also proposed to be increased from Rs. 20,000 to Rs. 30,000.
  • As a welfare measure towards very senior citizens, a deduction under section 80D is proposed for any payment made on account of medical expenditure in respect of a very senior citizen, subject to a limit Rs. 30,000.
  • The limit for deduction under section 80DDB is proposed to be increased to Rs. 80,000 in respect of amount paid for medical treatment of very senior citizen.
  • Section 80DD and section 80U is proposed to be amended to increase the limit from 50,000 to Rs. 75,000 and from Rs. 1 lakh to Rs. 1.25 lakh, as the case may be.
  • In order to promote social security, deduction section 80CCC(1) which provides for deduction of amount paid or deposited to effect or keep in force a contract for any annuity plan of LIC or any other insurer for receiving pension from a fund set up under a pension scheme is proposed to be amended to raise the limit of deduction from 1 lakh to Rs. 1.5 lakh, within the overall limit provided in section 80CCE.
  • Section 80G is proposed to be amended to provide for 100% deduction in respect of donations made to the National Fund for Control of Drug Abuse.
  • With a view to encourage and enhance people’s participation in the national effort to improve sanitation facilities and rejuvenation of river Ganga, section 80G is proposed to be amended so as to provide 100% deduction for donations made by any donor to the Swachh Bharat Kosh and to Clean Ganga Fund.

Budget 2015: New Pension Scheme — Good or Bad


Additional deduction for New Pension Scheme

In a move aimed at encouraging investors to opt for New Pension Scheme, the budget 2015 proposes an additional deduction (over and above Section 80C deduction of Rs 1,50,000), of Rs 50,000 under Section 80CCD for contribution made to the new pension scheme. This is effective the coming financial year April 1, 2015.

It also plans to enable a legislation that will allow employees to opt for either EPF or the NPS. The date for this is unspecified and may take time as it is not an easy move for companies to provide multiple options to its employees.

Besides, the above, the government will soon provide you the option of not contributing to EPF if your income is below a certain threshold.

Who can apply?

Any Indian Citizen, whether resident or not, who is between 18 & 55 years of age at the time of application can apply for the NPS after fulfilling the KYC norms.

What is the minimum contribution?

Minimum amount per contribution is Rs. 500 & minimum 4 contributions are required per year requiring a minimum contribution of Rs. 6,000 per annum.

Can one withdraw the amount invested in NPS at will?

No. PFRDA has fixed the normal retirement age as 60 years. Accordingly, if wants to withdraw any amount before attaining 60 years of age, one can withdraw a maximum 20% of the amount accumulated (known as pension wealth) & the balance 80% compulsorily gets converted into a pension corpus from which one shall get annuities. After attaining 60 years of age, one has the option of withdrawing a maximum of 60% of the amount accumulated (pension wealth) & the balance 40% gets converted into a pension corpus from which one shall keep getting annuities.

The good At last the non-salaried Indian has something to fall back on that shall enable him to save for the rainy day. The NPS launched by the PFRDA had many positives:

  1. Choice of 6 Fund managers & flexibility to move between them
  2. Choice of 4 fund options & flexibility to move between them
  3. Very low cost, economical way of saving for retirement
  4. Option of Automatic Asset Allocation based on age
  5. Equity Investments to be made only in Index Funds

The bad

  1. Fund manager can be changed only once in a year
  2. Only 1 switch allowed per year & that too in May only
  3. Extremely low on liquidity; cannot withdraw more than 20% of amount accumulated (pension wealth) before attaining 60 years of age & more than 60% after 60 years of age
  4. Retirement age fixed at 60 years by PFRDA might not match with individual preferencesindex

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