Accounting & Taxation Professional

Online Registration of GST

2017-01-26T06:37:00.001-08:00

Approach for selection of Registrations for issuance of Provisional IDs

Overview:

CBEC has started the process of migrating the existing Central Excise (CE) and Service Tax (ST)

registrations to GST and issue Provisional IDs to them. As a mandatory requirement, only PAN

based registrations would be issued Provisional ID. It is therefore, advised that all Assessees having

non-PAN based registrations, get their registrations converted to PAN based to obtain Provisional

IDs.

Since GST registration will be based on PAN and State, only one Provisional ID will be issued to a

given PAN for a given state, irrespective of the number of registration on that PAN in that state. For

Ex – PAN ‘XXXXX1111X’ has 10 CE registrations in the state ‘Maharashtra’ from ‘XXXXX1111XXM001’ to ‘XXXXX1111XXM010’. In such cases only one Provisional ID will be issued

Go to GST website for Example we want to registration for Haryna- go to below link

https://www.gst.gov.in/

Click on the New User

Tick on the term and condition and click on the continue.

Enter the Provisional ID and password provide by the regional sale tax or service tax department.

Enter the Email Address and Mobile Number for GST registration. please note that both are active becuase in next step it is require otp confirmation.

Confirm the Email and Phone OTP for GST Registration. and click on continue.

Enter the usename and password for login and click on continue.

Enter the Detail of Security question as per your Conveyance. and Click on the submit.

Click on continue.

After that enter user name and password and enter in the GST portal.

After that we have to fill different form.

Assistance Required:
For any assistance required or complaints related to migration to GST, please contact CBEC’s GST
Helpdesk at 1800-1200-232 or send email to cbecmitra.helpdesk@icegate.gov.in
You may also contact the Nodal Officer at:
Name:
Designation:
Phone:
Email:

Thanks

Kamal kumar

Ph-9996480619

E-filling Income tax return login though the Internet Banking

2017-01-19T07:50:00.000-08:00

E-filling Income tax return login though the Internet Banking

Dear Friend,

Income Tax Department given option to login in income Tax efilling Website.it is helpfull for that they do not remember their password,security question or registration done by other person and now that person not in contact or not given support.

Step for login is as follow

Login in Your Internet Banking .and in the your login detail have option to login to income tax efilling website. for example we take SBI Bank Option.

.

Click on second Option. and submit open come click on submit button.

OTP come in your Phone enter OTP

Click on confirm button and in the new tab Income Tax filling website available.you can filling your Income Tax Return.

Taxpayer can use the NetBanking facility provided by the Banks to login to e-Filing Portal to avail all the e-Filing services and manage the profile.

Below are the list of Banks providing the e-Filing login facility

Central Bank of India

City Union Bank Ltd

Corporation Bank-Corporate Banking

Corporation Bank-Retail Banking

Oriental Bank of Commerce

Apply Pan Card from home With-out any additional cost

2016-05-28T00:57:00.000-07:00

Hi Dear Friend,

Today we are discussion on the pan card , I find that for the pan card lot of people have Problem and pay additional cost. NSDL open lot of center apply Pan card and Tan Card.

for find the list of PAN/TAN Card apply or correction Center Click here.

https://www.tin-nsdl.com/tin-facilities.php

Enter the State and location.

But lot of people also face issue in the center, Even some center don't accept the form and some center is charge some extra amount. lot of center is allotted to CA and IT Advocate who is accepted only there client form.I am also face lot of issue on some center. after that i decided that i share information to people they can apply pan card \correction from their home and office with pay any additional charges.

For the Apply the Pan Card , please find the line and click on link

https://tin.tin.nsdl.com/pan/

Click on new Pan for Indian Citizen ( Form 49A)

Click on Online Application for New Pan (Form 49 A)

Please read the instruction.

Enter the Detail Name ,Address and Attach the relevant document

Please care following point at the time of Apply.

1. you can search your AO

2. Enter your father name ( Married woman also mention father Name)
3. Your name is match with your relevant Document.
4. Your Date of Birth that is mention in form is match with your document like Matric certificate, or Aadhar card.
5. your Address is match with your relevant Document.
6. List of document is mention in drop down.

7.Attach same Document you mention in Drop down.

After that select the method of payment as per your convenient.

After that enter your Debit and credit detail or netbanking user name and password if method of payment is netbanking

after successfully payment Pan form with acknowledgement will generate , take print out and sent it the follwoing address with relevant Document.

INCOME TAX PAN SERVICES UNIT (Managed by NSDL

e-Governance Infrastructure Limited), 5th Floor, Mantri

Sterling, Plot No. 341, Survey No. 997/8, Model Colony,

Near Deep Bunglow Chowk, Pune ‐ 411 016.

For track the status of you pan card you can use following link

https://tin.tin.nsdl.com/pantan/StatusTrack.html

enter your acknowledgement Number

I thing this information is helpful for you. If you have any query , let me know and enter you comment.

Thanks

Kamal Kumar

Ph.9996480619

Update aadhar card and GAS LPG Counsumer ID in SBI though online service

2015-04-03T23:42:00.001-07:00

Hi Dear,

you can update your aadhar card though online service, Process of the update AADHAR CARD and consumer no as follow.

go to online ONLINE SBI.

https://www.onlinesbi.com/

Click on Login and continue to login

Enter user name and password

login to SBI in the left hand side , you see SBI provide two option to update the aaadhar card and LPG Cutomer ID

for the update aadhar card click on the link you aadhar card

Enter your 12 Digit aadhar card No and Submit it.

After that click on the Link of your LPG Customer No

Enter your 17 Digit LPG Consumer No and Submit it

It automated update your gas agency.

I think same process provide other bank for update the aadhar card no and LPG consumer no.

so you can your save your time using internet service.

Kamal Kumar

Ph.8976898100

Update your Aadhaar data

2014-12-17T05:35:00.001-08:00

Update your Aadhaar data

Please read the instructions carefully, before submitting the request

You can update the following data either by submitting your request Online or sending request through Post.

Name
Gender
Date of Birth
Address
Mobile Number

Update Data Online (Click here) (Aashar Self Service update portal)

click here for Update Data Online

If Resident is unable to locate the required Pincode/Village/Town/City/Post Office/District/State or is finding difficulty in local language transliteration, they may send their Update request through Post.

Send Update Request through Post

Aadhaar Data Update/Correction Form For Request Through Post (Download Form)
Instructions for Sending Update Request Through Post (instruction for manual update
Updation Form in Punjabi Click here

Source From UIDAI Website

Instructions for residents to use Update Portal

1. Having a mobile number is mandatory for using the Update Portal

2. If you have declared a mobile number at the time of enrolment, enter your Aadhaar Number to

get an OTP (One Time Pin) at that mobile. If you have not declared your mobile at the time of enrolment,

then enter your Aadhaar number. You will be asked to provide a mobile number to receive OTP. In case

you have lost/do not possess anymore, the mobile, that you declared at the time of enrolment, you will have

to either visit nearest Update Centre or send your Update request through Post.

3. Enter OTP and captcha to login to the Update Portal

4. Select the fields you want to be updated /corrected. You can select more than one field also.

5. Fill the fields with current details in English as well as Local Language.

6. Depending on the field to be updated, attach self attested supporting documents as per the Valid

Documents List. Refer Link for valid documents.

a. Name Correction/Update : Requires PoI listed in "Supported Proof of Identity(PoI) Documents

Containing Name and Photo for Name Corrections/Update"

b. Date of Birth Correction : Requires DoB listed in "Supported Proof of Date of Birth (DoB) Documents"

c. Address Corrections/Change : Requires PoA listed in "Supported Proof of Address (PoA) Documents

Containing Name and Address"

7. Review the data entered for correctness and completeness in English as well as local language.

Note that Date of Birth will not appear in local language. Also any numeric figures will not be transliterated in

local language. UIDAI will not make any corrections to the information in your request.

8. Submit the request. Note down your Update Request Number (URN) carefully for future reference and

tracking. You can also download /Print your Update Request copy.

9. Currently SSUP portal is supporting update request for below languages.

Hindi
Urdu
Telugu
Oriya
Marathi
English

Gujrati
Punjabi
Kannada
Malyalam
Tamil
Bengali

Instructions for filling the Aadhaar Update Form

1. Fill all the fields. Fill the form in English as well as Local Language. The portal automatically enables the

same local language as was used at the time of your enrolment for Aadhaar and appears in your Aadhaar

Letter.

2. Fill the form with current details. There is no need to provide details that are no more valid.

For example, if you want to update/correct your Name/Address just fill the New Name/ Address in the space

provided in form. There is no need to provide old Name/ Address.

3. Write full name without salutations/titles. For example do not write Dr. /Mr. /Col. etc

4. Fill in Date of Birth in DDMMYYYY format. Resident can update his/her Date of Birth from Declared to

Verified only once. In case resident's Verified Date of Birth is incorrect in the Aadhaar letter, the resident can

get it corrected once

5. Write complete address. The Aadhaar letter with updates will be delivered at the given address only.

In case you face any issues with the Pin Code and related data

(State/District/Village/Town/City/Post office), contact UIDAI contact centre at help@uidai.gov.in.

6. To include Guardian/ Parent/Spouse Name as part of the address, select the appropriate box in

C/O details and enter the name of the person in the subsequent field. C/o details in address,

is used for letter delivery purposes and is a part of address. It is not mandatory to provide C/o details with

address.

7. You are required to fill the complete address and submit supporting PoA even if you want to

update/correct only C/o details. It is ok if C/o details are not mentioned in your PoA document.

8. Resident must be available at the given mobile number for any clarifications.

Status of application will be intimated to the resident by sending an sms on this mobile number.

9. Always check that the details entered are correct and complete.

10. Resident must sign themselves (Self attest) the document copies before they scan and upload them on the portal.

11. You do not have to submit all the proof documents. You have to submit only the document/s which is/are required to support the Change/ Correction. For eg. You need not attach an Address proof if you change your Date of Birth or your Name.

12. Aadhaar letter with updates will be delivered at the given address only in case of Update/Correction in Name,
Address, Date of Birth and Gender. For Update of Mobile number, the notification will be sent on the given
mobile number

13. Submission of information for update does not guarantee update of Aadhaar data. The information submitted is subject to verification and validation. Furnishing of incorrect information/suppression of information would lead to rejection of application and would attract penal provisions under prevailing laws.

Instructions for sending documents by post

1.Download the Aadhaar Update/Correction Form from the

link http://uidai.gov.in/images/application_form_11102012.pdf

2.Fill the Update request form in capital letters and mention the Mobile number correctly.

Mobile number is mandatory for sending an update request by post.

3.Depending upon the field to be updated, send self-signed (self attested) supporting documents

as per the Valid Documents List attached in Annexure I.

Name Correction/Update - Requires submission of any one of the Proof of Identity(PoI)
listed in "Supported PoI Documents Containing Name and Photo for Name
Corrections/Update"Date of Birth Correction (DoB) - Requires submission of any one of the DoB listed in
"Supported Proof of Date of Birth Documents"
Address Corrections/Change - Requires submission of any one of the Proof of
Address (PoA) listed in "Supported Proof of Address (PoA) Documents Containing Name and
Address"

4.In case a child is below five years, parent/guardian can sign the copies of documents.In all other cases, the resident must sign the copies of documents themselves

5.Aadhaar Number on all copies of documents. Mention Type of Document (PoI/PoA/DoB) on the copy of the document

6.Mark the envelope as "Aadhaar Update/Correction" on top. Seal the envelope properly.

7.Send the Aadhaar Correction form along with the supporting documents to one of the addresses given in

Customer charges for use of ATMs for cash withdrawal and balance enquiry

2014-11-25T05:33:00.000-08:00

RBI/2007-2008/260
DPSS No.1405 / 02.10.02 / 2007-2008

March 10, 2008

The Chairman / Chief Executive Officer
(All Scheduled commercial banks including RRBs)

Dear Sir

Customer charges for use of ATMs for cash withdrawal and balance enquiry

1. Automated Teller Machines (ATMs) have gained prominence as a delivery channel for banking transactions in India. Banks have been deploying ATMs to increase their reach. While ATMs facilitate a variety of banking transactions for customers, their main utility has been for cash withdrawal and balance enquiry. As at the end of December 2007, the number of ATMs deployed in India was 32,342. Commensurate with the branch network, larger banks have deployed more ATMs. Most banks prefer to deploy ATMs at locations where they have a large customer base or expect considerable use. To increase the usage of ATMs as a delivery channel, banks have also entered into bilateral or multilateral arrangements with other banks to have inter-bank ATM networks.

2. It is evident that the charges levied on the customers vary from bank to bank and also vary according to the ATM network that is used for the transaction. Consequently, a customer is not aware, before hand, of the charges that will be levied for a particular ATM transaction, while using an ATM of another bank. This generally discourages the customer from using the ATMs of other banks. It is, therefore, essential to ensure greater transparency.

3. International experience indicates that in countries such as UK, Germany and France, bank customers have access to all ATMs in the country, free of charge except when cash is withdrawn from white label ATMs or from ATMs managed by non-bank entities. There is also a move, internationally, to regulate the fee structure by the regulator from the public policy angle. The ideal situation is that a customer should be able to access any ATM installed in the country free of charge through an equitable cooperative initiative by banks.

4. In view of this, RBI had placed on its website an Approach paper and sought public comments. The comments received have been analysed. Based on the feed back a framework of service charges would be implemented by all banks as under:

Sr.No.	Service	Charges
(i)	For use of own ATMs for any purpose	Free (with immediate effect)
(2)	For use of other bank ATMs for balance enquiries	Free (with immediate effect)
(3)	For use of other bank ATMs for cash withdrawals	No bank shall increase the charges prevailing as on December 23, 2007 (i.e. the date of release of Approach Paper on RBI website) Banks which are charging more than Rs.20 per transaction shall reduce the charges to a maximum of Rs.20 per transaction by March 31, 2008 Free - with effect from April 1, 2009.

5. For the services at (1) and (2) above, the customer will not be levied any charge under any other head and the service will be totally free.

6. For the service number (3) the charge of Rs.20/- indicated will be all inclusive and no other charges will be levied to the customers under any other head irrespective of the amount of withdrawal.

7. The service charges for the following types of cash withdrawal transactions may be determined by the banks themselves:

8. Please acknowledge the receipt of the circular. A copy of the circular issued to your branches on this subject may please be submitted to us in due course.

Latest Income tax slabs for FY 2014-2015

2014-11-21T03:28:00.002-08:00

Latest Income tax slabs for FY 2014-2015

Calculate your tax based on the tax slabs for year 2014-2015. Detailed split for general, women, senior citizen etc are provided.

India Income tax slabs 2014-2015 for General tax payers and Women

Income tax slab (in Rs.)	Tax
0 to 2,50,000	No tax
2,50,001 to 5,00,000	10%
5,00,001 to 10,00,000	20%
Above 10,00,000	30%

India Income tax slabs 2014-2015 for Senior citizens (Aged 60 years but less than 80 years)

Income tax slab (in Rs.)	Tax
0 to 3,00,000	No tax
3,00,001 to 5,00,000	10%
5,00,001 to 10,00,000	20%
Above 10,00,000	30%

India Income tax slabs 2014-2014 for very senior citizens (Aged 80 and above)

Income tax slab (in Rs.)	Tax
0 to 5,00,000	No tax
5,00,001 to 10,00,000	20%
Above 10,00,000	30%

The previous income tax slab for year 2013-2014 can be found here - Income tax slabs 2013-14.

Share this -

Source : http://financeminister.in/latest-india-income-tax-slabs

Kamal Kumar

Ph.8976898100

Create Dimension in Ax 2012

2014-09-23T02:34:00.001-07:00

Create Dimension in Ax 2012

What is Dimension: Dimension mainly use for classification of our expense. If we need classification our expense in different location wise, department wise, Emp.wise. We are create Dimension for that classification and when we enter the data use the dimension in which expense is doing. In ax 2009 is provide only three Dimension but in ax 2012 provide multiple dimension as per your requirement.

Use of Dimension:

1. Use Dimension in Budget and Expense Control

2. Control our expense

3. Tracing the expense

4. Interlink different module value to general ledger

Process of Create Dimension:

Open Ax-àGeneral Ledger--àSetup-àFinancial Dimension

Click on new Button after that new form open. First is form use value form. There are two options to create dimension.

first one is <Custom dimension> if we do not want create new dimension and do not pick value from any module and want to create new Unique Value select first option.

Click on Custom dimension button. Given Dimension name Brunch and report column name brunch after that click on Ctrl+S. After that click financial dimension Values. Click on new button.

Given value of Dimension Value and Descriptions. And other detail like level of dimension value to display , active from active to after that save it to Ctrl + S and close it

Click form button to Create new and delete dimension value

There is second option is pick value from different module, we are used their modules value like Emp. In above screen we are used department, fund source

You select any one from list. For Example we are selecting our Bank account after select this screen dimension name automatic display Bank Account. You had given Report Column name Bank.

After that Click on Financial Dimension value you see all the list of your Bank account. Enter double click of any one and you can edit the detail.

That is process of create Dimension if you have any problem contact us.

Kamal Kumar

Ph.+91-8976898100

Skype ID- kamal.ax

kkumar@brightpointinfotech.com

Brightpointinfotech.com

Filling your Income Tax Return in Telephone

2014-07-29T05:37:00.000-07:00

Hi,

For E-filling Your Income Tax return , though Telephone , given your Basic Detail Like income, saving ,and other misc detail and get your return copy

For Further Detail Contact : -

Kamal Kumar
Ph.8976898100

Maximum limit of Registration of email ID or Mobile in Income Tax India e-Filing Portal

2014-07-06T09:31:00.000-07:00

Important announcement for Tax payers for updating contact details in e-Filing Portal

Dear Tax Payers,

Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal.

It is noticed that many registered users are not having authenticated contact details in e- Filing or may have provided details of other persons for convenience. This prevents the Department from interacting directly with taxpayers on their personal email and Mob ile.

Further, it has been observed that in many cases taxpayers are not able to reset their password since the email communication from the Department may be sent to their registered email or Mobile which may be different from the taxpayer’s personal email or mobile.

Hence, it is requested that all the e-Filing users may immediately update and authenticate their correct contact details so that the communication can be sent to the valid Mobile number and E-mail ID.

The process of updating and authenticating the contact details are below.

New User

Provide the correct Mobile Number and Email ID during the Registration in

the e-Filing portal, Activation link would be sent to the registered E-mail ID and a One Time Password (OTP also called PIN) is sent to the registered Mobile Number. User needs to Click on the Link provided in the E-mail and enter the OTP received in the mobile number for Successful activation of the registered user in e-Filing portal

Registered

User

After the user logs in to the e-filing account, the user is requested to update

the current Mobile number and E-mail ID. The user should update their personal Mobile number and Email so that the updated contact particulars are registered with the Department or confirm that the Mobile number and email ID already registered is their valid personal contacts.

Upon submitting the details, Department would immediately send OTPs (PIN1 & PIN2) to new mobile number and Email ID. The respective PINs- PIN1 and PIN2 received through Mobile number and E-mail ID should be entered by them in the respective input fields to authenticate that the email ID and mobile are correct. Upon successful validation the Mobile number

and email ID would be updated in the taxpayer’s profile and the process would be complete.

If the PINs are not received within specified time (say 2 minutes), the taxpayer may opt for “Resend PINs” option. The PINs once received will be valid for 24 hours.

The taxpayers are advised to validate the contact details using the

PINs received within 24 hours. If PINs are not validated within 24 hours, the taxpayer has to login and follow the same procedure as above again.

Note:

Taxpayers are advised to follow the process mentioned above in the interest of the security of their e-filing account and to directly receive communication from the Department about status of processing and issue of refunds etc.

This is a one-time process to validate the mobile number and email ID. However, whenever the taxpayer changes the Mobile Number or email ID in their Profile, the process will be repeated to ensure that the particulars provided are correct.

One mobile number or email ID can be used for a maximum of 10 user accounts as the Primary Contact- Mobile Number and Email ID in e-Filing. This is to ensure that family members (not exceeding 10 separate users) not having personal email or mobile can be covered under a common email or mobile, but in general taxpayers should have their own unique email ID and Mobile registered with the Department.

The taxpayer can enter any other person’s email or mobile number in addition as a Secondary Contact (without any restriction on the number of user accounts linked as a Secondary Contact). Using “P rofile S e ttings à My P rofi le ” the taxpayer can select to include the Secondary Contact to also receive emails, alerts etc.

Include the emails and SMS from the Income tax Department in the ‘safe list’ or ‘white list’ to prevent the communications from the Department from being blocked or rejected or sent to Spam folder.

As a best practice, please update and authenticate the current contact and address details under “P rofile S e ttings à My P rofi le ” after login to eFiling portal.

Reff : https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Update_Contact_Details.pdf

Kamal Kumar

Ph.9996480619

Key Features of Budget 2014-2015

2014-06-24T11:13:00.000-07:00

Key Features of Budget 2014-2015

THE CURRENT ECONOMIC SITUATION AND THE CHALLENGES

The state of world economy has been the most decisive factor affecting the fortunes of every developing country.

The world economy has been witnessing a sliding trend in growth, from 3.9 percent in 2011 to 3.1 percent in 2012 and 3 percent in 2013.

The economic situation of major trading partners of India, who are also the major source of our foreign capital inflows, continues to be under stress. United States has just recovered from long recession, Euro zone, as a whole, is reporting a growth of 0.2 per cent, and China’s growth has also slowed down.

The economic challanges faced by our country are common to all emerging economies. Despite these challanges, we have successfully navigated through this period of crisis.

Apart from embarking on the path of fiscal consolidation, the objectives of price stability, self sufficiency in food, reviving the growth cycle, enhancing investments, promoting manufacturing, encouraging exports, quickening the phase of implementation of projects and reducing a stress on important sectors were the goals set in 2012-13.

STATE OF ECONOMY

Deficit and Inflation

The fiscal deficit for 2013-14 contained at 4.6 percent .

The currect account deficit projected to be at USD 45 billion in 2013-14 down from USD 88 billion in 2012-13.

Foreign exchange reserve to grow by USD 15 billion in this Financial Year

No more talk of down grade of Indian Economy by Rating Agencies.

Fiscal stability at the top of the Agenda.

Government and RBI have acted in tandem to bring down inflation.

WPI inflation down to 5.05 percent and core inflation down to 3.0 percent in January 2014.

Food inflation down to 6.2 percent from a high of 13.8 per cent.

Agriculture

Agricultural sector has performed remarkably well.

Food grain production estimated for the current year is 263 million tonnes compared to 255.36 million tonnes in 2012-13.

						Agriculture export likely to cross USD 45 billion higher from USD 41 billion in 2012-13.
		`
		`

Agricultural credit to exceed the target of ` 7 lakh crores.

Agricultural GDP growth for the current year estimated at 4.6 percent compared to

4.0 percent in the last four years.

Investment

Savings rate at 30.1 percent and investment rate of 34.8 percent in 2012-13.

Government set up a Cabinate Committee on investment and the Project Monitoring Group to boost investment. By end of January 2014, Projects numbering 296 with an estimated project cost of ` 660,000 crore cleared.

Foreign Trade

Despite a decline in growth of global trade, our export have recovered sharply.

The estimated merchandise export is estimated to reach USD 326 billion indicating a growth rate of 6.3 percent in comparison to the previous year.

Manufacturing

The sluggish import is a matter of concern for manufacturing and domestic trade sector.

Due to deceleration in investment, the manufacturing sector has witnessed a sluggish growth.

The National Manufacturing Policy has set the goal of increasing the share of manufacturing in GDP to 25 percent and to create 100 million jobs over a decade.

8 National Investment and Manufacturing Zones (NIMZ) along Delhi Mumbai Industrial Corridor (DMIC) have been announced. 9 Projects had been approved by the DMIC trust.

							3 more Industrial Corridors connecting Chennai and Bengaluru, Bengaluru and Mumbai
							& Amritsar and Kolkata are under different stages of preparatory works.
							Additional capacities are being installed in major manufacturing industries.

Notification of a public procurement policy, establishing technology and common facility centres, and launching the Khadi Mark are steps taken to promote Micro Small and Medium Enterprises.

Infrastructure

In 2012-13 and in nine months of the current financial year, 29, 350 MW of power capacity, 3, 928 Kms of National Highways, 39, 144 Kms of Rural Roads, 3,343 Kms of New Railway track and 217.5 milliion tonnes of capacity per annum in our ports have been created to give a big boost to infrastructure industries.

19 Oil and Gas blocks were given out for exploration and 7 new Air ports are under construction.

Infrastructure debt funds have been promoted to provide finances for infrastructure Projects.

2 Exchange Rates

Rupee came under pressure following indications by US Federal Reserve of reduction in asset purchases in May 2013.

Government, RBI and SEBI undertook a number of measures to facilitate capital inflows and stablize the foriegn exchange markets. As a result among emerging economy currencies rupee was least affected when actual reduction took place in December 2013.

GDP Growth

The GDP slow-down which began in 2011-12 reaching 4.4 percent in Q1 of 2013-14 from 7.5 percent in the corresponding period in 2011-12 has been controlled by numerous measures taken by the Government. Growth in the third and fourth quarter of the current year is expected to be 5.2 percent and that for the whole year has been estimated at 4.9 percent.

The declining fiscal deficit, stable Exchange Rate and reducing Current Account Deficit, moderation in inflation, increasing exports are reflection of a more stable economy today.

UPA’s record of Growth

In India growth is an imperative but sustainable and inclusive growth model must address the concerns of environment, inter generational equity, indebtedness etc.

Un paralleled record of growth in 10 years of UPA Government.

Production of food grains up from 213 million tonnes to 263 million tonnes, installed power capacity up to 2,34,600 MW from 1,12,700 MW, coal production 554 million tonnes from 361 million tonnes, 3,89,578 Kms of Rural Roads under PMGSY from 51,511 Kms, over a period of 10 years.

The expenditure on Health & Family Welfare has reached ` 36,322 crore from ` 7,248 ten years ago.

The expenditure on Education has reached ` 79,451 crore from ` 10,145 ten years ago.

UPA-I & UPA-II Governments have delivered above the trend growth of 6.2 percent, which prevailed over a period of 33 years.

Report Card of 2013-14

De-controlling sugar, gradual correction of diesel prices, rationalization of railway fares, were some of the courageous and long over due decisions taken by the Government.

Applications were invited for issue of new bank licences.

DISCOMS, mostly sick are being restructured with generous central assistance.

12.8 lakhs land titles covering 18.80 lakh hectare were distributed under the Scheduled Tribes and Other traditional Forest Dwellers Act.

The oppressive colonial law of 1894 was substituted with the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act.

3 National Food Security Act was passed assuring food to 67 percent of the population/ households.

The new companies Act replaced a law of 1956 vintage.

The PFRDA Act was passed to establish a statutory regulator for the New Pension Scheme.

Economic Initiative

Centrally Sponsered Schemes were restructured into 66 Programs for greater Synergy. Funds under these programs will be released as Central assistance to State Plan, thus giving greater authority and responsibility. As a result, Central assistance to plans of States & UTs will rise substantially from `136,254 crore in BE 2013-14 to `338,562 crore in 2014-15.

Record Capital expenditure of ` 257,641 crores in 2013-14 by public sector enterprises.

About 50,000 MW of Thermal and Hydel Power capacity is under construction after receiving all clearances and approvals. 78,000 MW of power capacity have been assured coal supply.

Liberalised FDI policy in tele-communication, pharmaceuticals, civil aviation, power trading exchange, and multi brand retail to attract large investment.

Approval to establish 2 semi conductor wafer fab units.

Approval of IT modernization project of Department of Post.

Kudankulam Nuclear Power Plant Unit-I achieved criticality and is generating 180 Milliion Units of power.

Fast breeder Reactor at Kalpakkam and 7 Nuclear Power Reactors under construction.

National Solar Mission to add 4 Ultra Mega Solar Power Projects each with the capacity of over 500 MW in 2014-15.

Ministry of MSME will create the ‘India Inclusive Innovation Fund’ to promote grass root innovations with social returns to support enterprises in the MSME sector with an initial contribution of `100 crore to the corpus of the fund.

Social Sector Initiative

A Venture Capital Fund to provide concessional finance to Scheduled Caste will be

set up by IFCI with an initial capital of ` 200 crore which can be supplemented every year.

The restructured ICDS, under implementation in 400 districts, will be rolled out in remaining districts from 1.4.2014.

A National Agro-Forestry Policy 2014 has been approved.

A mechanism for marketing minor Forest produce has been introduced and an allocation of ` 444.59 crore has been made to continue the Scheme in 2014-15.

4 A new Plan Scheme with an allocation of `100 crore has been approved to promote community radio station

New technologies such as JE vaccine, a diagnostic test for Thalassaemia and Magnivisualizer for detection of Cervical cancer have been delivered to people.

Additional Central Assistance to some States

A sum of `1200 crore as additional central assistance to North Eastern states, Himachal Pradesh and Uttarakhand in this financial year.

Space

India joined a handful of countries when it launched the Mars Orbiter Mission.

The Country has acquired capability in launch vehicle technology, cryogenics and navigation , meteorological and communication satellites.

Several flight tests, navigational satellites and space missions are planned for 2014-15

Redeeming promises

A Corpus has been created for ‘Nirbhaya Fund’ with a non lapsable grant of

` 1000 crore. 2 Proposals to ensure the dignity and safety of women have been approved which will be funded from the Nirbhaya Fund . A sum of ` 1000 crore has again been provided in FY 2014-15

The National Skill Certification and monitary reward schemes launched in August 2013 with an allocation of ` 1000 crore has been widely hailed as a success. A sum of

` 1000 crore is proposed to be transferred to the NSD Trust to scale up its programme rapidly.

Government remains fully committed to Aadhar under which 57 crore Unique Numbers have been issued so far and to opening bank accounts for all Aadhar holders to promote financial inclusion.

Through the Direct Benefic Transfer (DBT) Scheme, a total of ` 628 crore (54,20,114 transactions) has been transferred directly to the beneficiaries till 31^st January 2014 under 27 Schemes.

OVERVIEW OF THE INTERIM BUDGET

In order to sustain the pace of plan expenditure, it has been kept at the same level in 2014-15 at which, it was budgeted in 2013-14.

Ministries/Departments which run key flagship programmes have been provided adequate funds in 2014-15 either equal to or higher than in the BE 2013-14. These include Ministries namely, Minority Affairs, Tribal Affairs, Housing & Poverty Alleviation, Social Justice & Empowerment, Panchayat Raj, Driniking Water and Sanitation, Women & Child Development, Health & Family Welfare, Human Resource Development and Rural Development.

Railways

Budgetary support to Railways has been increased from ` 26,000 crore in BE 2013-14 to ` 29,000 crore in 2014-15.

5 It is proposed to indentify new instruments and new mechanisms to raise funds for Railway Projects.

SC Sub-Plan and Tribal Sub-Plan, Gender Budget and Child Budget

` 48,638 crore and ` 30,726 crore are allocated to the SC Sub-Plan and Tribal Sub-Plan respectively.

Gender Budget and Child Budget has ` 97,533 crore and ` 81,024 crore respectively.

Non Plan Expenditure

Non Plan expenditure is estimated at ` 12,07,892 crore.

The expenditure on subsidies for food, fertilizer & fuel will be ` 246,472 crore slightly higher than the revised estimates of ` 245,453 crore in 2013-14.

` 115,000 crore has been allocated for food subsidies taking in to account, Government‘s firm and irrevocable committment to implement the National Food Security Act throughout the country.

Defence

10 per cent hike in Defence allocation has been given in comparison to BE 2013-14.

Government has accepted the principle of one rank one pension for the Defence Forces which will be implemented prospectively from the FY 2014-15. A sum of ` 500 crore is proposed to be transferred to the Defence Pension Account in the current Financial Year itself.

Central Armed Police Forces

A modernization Plan at a cost of `11,009 crore has been approved to strengthen the capacity of Central Armed Police Forces and to provide them the state-of-art, equipment and technology.

FINANCIAL SECTOR

All the announcements concerning the Financial sector made in the Budget Speech of February 2013 have been implemented.

` 11,300 crore is proposed to be provided for Capital infusion in Public Sector Banks.

5,207 new branches have been opened against the target of 8,023.

Bhartia Mahila Bank has been established.

` 6,000 crore and ` 2,000 crore have been provided to Rural and Urban Housing Funds respectively.

The target of ` 700,000 crore of Agricultural Credit is likely to be exceeded by the Banks. The target for 2014-15 is ` 800,000 Crore.

` 23,924 crore has been released under the Interest Subvention Scheme on farm loans, with effective rate of interest on farm loans at 4 percent including subvention of 2 percent and incentive of 3 percent for prompt payment.

6 Credit to Minority Communities

The number of bank accounts of minorities has increased to 43,52,000 at the end of March 2013 from 14,15,000 ten years ago. The volume of lending has soared to

` 66,500 crore from ` 4,000 crore in the same period.

Loans to minorities stood at ` 211,451 crore at the end of Decemeber 2013.

Self-Help Groups (SHGs) Loans

Ten years ago, only 9,71,182 women Self-Help Groups (SHGs) had ben credit linked to banks. At the end of December 2013, 4,11,6000 women SHGs had been provided credit and the outstanding amount of credit was ` 36,893 crore

Education Loans

A moratorium period is proposed for all education loans taken up to 31.3.2009 and outstanding on 31.12.2013. Government will take over the liability for outstanding interest as on 31.12.2013 but the borrower would have to pay interest for the period after 1.1.2014. An amount of ` 2,600 crore has been provided this year and it will benefit nearly 9 lakh student borrowers.

Insurance

LIC and the four public sector general insurance companies have opened arround 3000 offices in towns with a population of 10,000 or more to serve peri-urban and rural areas.

Financial Markets

Steps envisaged to deepen the Indian Financial Market :

• ADR/GDR Scheme revamp, an enlargement of the scope of depository receipt

• Liberalization of rupee denominated corporate bond market.

• Currency Derivatives Market to be deepened and strengthened to enable Indian Companies to fully hedge against foriegn currency risk

• To create one record for all financial assets of every individual

• To enable smoother clearing and settlement for international investors looking to invest in Indian bonds.

Commodity Derivatives Markets

Swift action taken to sequester National Spot Exchange Limited (NSEL) after the payment crisis in the NSEL, this prevented spill over of the crisis to the other regualted segment of the financial markets.

Proposal to amend the Forward Contracts (Regualtion) Act.

Key Pending Bills

The Insurance Laws (Amendment) Bill and the Securities Laws (Amendment) Bill have not been passed by Parliament for reasons that have nothing to do with the merits of the Bills.

7 Public Debt Mangement Agency

Public Debt Management Agency Bill is ready with the Government. It is proposed to establish a non statutory PDMA that can begin work in 2014-15.

VISION FOR FUTURE

India poised to be third largest economy along with US and China, to play a leading an important role in global economy.

10 Tasks as part of the road map ahead include :

• Fiscal consolidation : We must achieve the target of fiscal deficit of 3 percent of GDP by 2016-17 and remain below that level always.

• Current Account Deficit : CAD will be inevitable for some more years which can be financed only by foriegn investment. Hence, there is no room for any aversion to foreign investment.

• Price Stability and Growth : In a developing economy, a high growth target entails a moderate level of inflation. RBI must strike a balance between price stability and growth while formulating the monetary policy.

• Fianancial Sector reforms to be completed as laid down by Financial Sector Legislative Reforms Commission.

• Massive investment in infrastructure : to be mobilized through the Public Private Partnership.

• Manufacturing sector to be the base of India’s development : All taxes, Central and State that go into an exported product should be waived or rebated. There should be a minimum tariff protection to incentiwise domestic manufacturing.

• Subsidies, which are absolutely necessary should be choosen and targeted only to the absolutely deserving.

• Urbanisation to be managed to make cities governable and liveable.

• Skill development must be given priority at par with secondary and university education, sanitation and universal health care.

• States to partner in development so as to enable the Centre to focus on Defence, Railways, National Highways and Tele-communication.

REVENUES

GST and DTC

Governement appeals to all political parties to resolve to pass the GST Laws and the Direct Tax Code in 2014-15

Funding Scientific Research

It is proposed to set up a Research Funding Orgnaisation that will fund Research Projects selected through a competitive process. Contribution to that organisation will be eligible for tax benefits. The required legislative changes can be introduced at the time of regular Budget.

8 Off-shore Accounts

The Government has succeeded in obtaining information on illegal off-shore accounts held by indians in 67 cases and action is under way. Prosecution for wilful tax evasion have also been launched in 17 other cases. More enquiries have been initiated in to accounts reportedly held by Indian entities in no tax or low tax jurisdictions.

Changes in Tax Rates

Following changes in some indirect tax rates are proposed:

• States to partner in development so as to enable the Centre to focus on Defence, Railways, National Highways and Tele-communication.

• The Excise Duty on all goods falling under Chapter 84 & 85 of the Schedule to the Central Excise Tariff Act is reduced from 12 percent to 10 percent for the period upto 30.06.2014. The rates can be reviewed at the time of regular Budget.

• To give relief to the Automobile Industry, which is registering unprecended negative growth, the excise duty is reduced for the period up to 30.06.2014 as follows:

Small Cars, Motorcycle, Scooters	-	from 12 % to 8%
and Commercial Vehicles
SUVs	-	from 30% to 24%
Large and Mid-segment Cars	-	from 27/24% to 24/20%

• It is also proposed to make appropriate reductions in the excise duties on chassis and trailors - The rates can be reviewed at the time of regular Budget

• To encourage domestic production of mobile handsets, the excise duties for all categories of mobile handsets is restructured. The rates will be 6% with CENVAT credit or 1 percent without CENVAT credit.

• To encourage domestic production of soaps and oleo chemicals, the custom duty structure on non-edible grade industrial oils and its fractions, fatty acids and fatty alcohols is rationalized at 7.5 percent.

• To encourage domestic production of specified road construction machinery, the exemption from CVD on similar imported machinery is withdrawn.

• A concessional custom duty 5 percent on capital goods imported by the Bank Note Paper Mill India Private Limited is provided to encourage domestic production of security paper for printing currency notes.

The loading and un-loading, packing, storage and warehousing of rice is exempted from Service Tax.

The services provided by cord blood banks is exempted from Service Tax.

9 BUDGET ESTIMATE

The current financial year will end on a satisfactory note with the fiscal deficit at 4.6 percent (below the red line of 4.8 percent) and the revenue deficit at 3.3 percent.

Fiscal Deficit in 2014-15 estimated to be 4.1 percent which will be below the target set by new Fiscal Consolidation Path and Revenue Deficit is estimated at 3.0 percent.

The estimate of Plan Expenditure is `555,322 crore. Non Plan expenditure is estimated at `12,07,892 crore.

E-filling your Income Tax Return Free of Cost

2014-06-18T06:36:00.001-07:00

Dear Friend,

Department of income Tax made very easy process to file your Income Tax Return after follow of some Step You are e filling your Return very easy

Step - 1

Go to income tax department website (https://incometaxindiaefiling.gov.in/) , If you are not registrar in income Tax department or use first time to filling your return than first time you have to need registrar yourself click on registrar yourself Button, some simple step and basic information provide for registration like Name ,DOB,Father name,after that a verification mail and verfication mobile message you recived,verified it on income tax website.you take help of this Video available in youtube
(https://www.youtube.com/watch?v=byabyM4NVds&hd=1 )

Step- 2 In home page of Income Tax department ,avalable of button for registrar user click on then.
provide user ID (Pan No) , Password or Date of Birth ,

After that this screen show

Enter in Quick link button quick e-file ITR

prepare and submit online dialog box open

select ITR Type -1 or 4S , Select Assessment year , for pre fill address department given 3 option adress pick from your PAN , last itr or New Add

Enter Your Personal Detail in Tab -1

Enter your income Detail and Deducation Detail in Tab -2

Cross Check Your TDS Detail amount in Tab-3 and Certificate TDS Amount you are able to edit the TDS amount and enter new row for TDS amount enter

Enter your bank A/c No and IFSC Code in Tax Paid and verification Tab. ALSO cross Check to Point D-13 to D-18.

if you donate any amount enter it 80 G TAb

Click on Submit the Buttion

Time to Time Enter Save Draft Buttion

For any Other Detail and Services Contact following No.

kamal Kumar

Ph.8976898100

Apply for Pan Card ( online)

2014-06-16T06:03:00.000-07:00

Services / PAN / Apply Online / New PAN (Form 49A) / Read Guidelines

(हिंदी भाषा में दिशा निर्देशों के लिए यहाँ क्लिक करें)

1. STEPS FOR ONLINE APPLICATION

a.	Only Indian citizens should use this form for submitting application for allotment of PAN. Indian citizens located outside India should also use this form.
b.	Applicant will fill Form 49A online and submit the form.
c.	If the data submitted fails in any format level validation, a response indicating the error(s) will be displayed on the screen.
d.	The applicant shall rectify the error(s) and re-submit the form.
e.	If there are no format level error(s), a confirmation screen with data filled by the applicant will be displayed.
f.	The applicant may either edit or confirm the same.

2. PAYMENT

g.	If communication address is within India, then the fee for processing PAN application is 105.00 ( 93.00 + 12.36% service tax). Payment can be made either by Demand Draft Cheque Credit Card / Debit Card Net Banking If any of addresses i.e. office address or residential address is a foreign address, the payment can be made only by way of demand draft payable at Mumbai.
h.	If communication Address is outside India, then the fee for processing PAN application is 971.00 [(Application fee 93.00 + Dispatch Charges 771.00) + 12.36% service tax]. Payment can be made only by Demand Draft payable at Mumbai. At present this facility is available for a select list of countries. Applicants from other countries may contact NSDL at the contact details given in point (5) below.
i.	Demand draft / cheque shall be in favour of 'NSDL - PAN'. Demand draft should be payable at Mumbai.
j.	Name of the applicant and the acknowledgment number should be mentioned on the reverse of the demand draft / cheque.
k.	Applicants making payment by cheque shall deposit a local cheque (drawn on any bank) with any HDFC Bank branch across the country (except Dahej). The applicant shall mention NSDL-PAN on the deposit slip. List of HDFC Bank branches.
l.	Credit card / Debit card / Net banking payment - Persons authorised to make Credit card / Debit card / Net banking payment are as below:

Category of Applicant	Payment by Credit Card / Debit Card / Net Banking can be made by / for
Individual	Self, immediate family members (parents, spouse, children)
HUF	Karta of the HUF
Company	Any Director of the Company
Firm/ Limited Liability Partnership	Any Partner of the Firm
Association of Person(s) / Body of Individuals / Association of Person(s) Trust / Artificial Juridical Person / Local Authority	Authorised Signatory covered under section 140 of Income Tax Act, 1961

Applicants making online payment using credit card / debit card will be charged an additional charge of up to 2% (plus applicable taxes) of application fee by the bank providing gateway facility. Additionally, the conversion/exchange rates may also be levied by the card issuing bank, as per prevailing rates.

Applicants making payment through Net Banking facility will be charged an additional surcharge of 4.00 + service tax for payment gateway facility.

	On successful credit card / debit card / net banking payment, acknowledgment will be displayed. Applicant shall save and print the acknowledgment and send it to NSDL as mentioned in point 'u - Mode of Submission of Documents' below.
m.	Applicant shall select appropriate mode of payment and fill relevant details in the application.

3. ACKNOWLEDGMENT

n.	On confirmation, and in case of credit card / debit card / net banking payment (on successful payment), an acknowledgment screen will be displayed. The acknowledgment consists of: A 15-digit unique acknowledgment number Category of applicant Name of applicant Father's Name (in case of 'Individual') Date of Birth/Incorporation/Agreement/Partnership or Trust Deed/Formation of Body of Individuals/Association of Persons Address for Communication Representative Assessee’s name and address Space for Photograph (in case of 'Individual') Payment Details Space for Signature Aadhaar No. Details of Proof of Identity and Address
o.	Applicant shall save and print this acknowledgment.
p.	'Individual' applicants making "Application for allotment of new PAN" should affix two recent colour photographs (3.5 cm x 2.5 cm) in the space provided in the acknowledgment. The photograph should not be stapled or clipped to the acknowledgment. (The clarity of the image on PAN card will depend on the quality and clarity of the photograph affixed on the form).
q.	Signature / Left hand thumb impression should be provided across the photo affixed on the left side of the acknowledgement in such a manner that portion of signature/impression is on photo as well as on acknowledgement receipt.
r.	The signature should not be on the photograph affixed on right side of the acknowledgement. If there is any mark on this photograph such that it hinders the clear visibility of the face of the applicant, the application will not be accepted.
s.	Signature / left thumb impression should only be within the box provided in the acknowledgment. The signature should not be on the photograph. If there is any mark on the photograph such that it hinders the clear visibility of the face of the applicant, the application will not be accepted.
t.	Thumb impression, if used, should be attested by a Magistrate or a Notary Public or Gazetted Officer, under official seal and stamp.

4. MODE OF SUBMISSION OF DOCUMENTS

u.	The acknowledgment duly signed, affixed with photographs (in case of 'Individuals') along with Demand Draft/cheque, if any, and proof of identity (name in the application should be same as in the proof of identity) & proof of address (Individuals, HUFs, Body of Individuals, Association of Persons & Artificial Juridical Person should provide proof of address of residence stated in the application) as specified in the application form is to be sent to NSDL at 'Income Tax PAN Services Unit, NSDL e-Governance Infrastructure Limited, 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8,Model Colony, Near Deep Bungalow Chowk, Pune – 411 016'.
v.	In case, AADHAAR is mentioned in the application (applicable for Individuals only), then the copy of AADHAAR allotment letter should also be enclosed along with the acknowledgement
w.	Superscribe the envelope with 'APPLICATION FOR PAN-Acknowledgment Number' (e.g. 'APPLICATION FOR PAN-881010200000097').
x.	Your acknowledgment, demand draft/cheque, if any, and proofs, should reach NSDL within 15 days from the date of online application.
y.	Applications received with demand draft or cheque as mode of payment shall be processed only on receipt of relevant proofs and realisation of payment.
z.	Applications received with credit card / debit card / net banking as mode of payment shall be processed on receipt of relevant documents (acknowledgment and proofs).

5. CONTACT US

aa.

For more information

     Call PAN/TDS Call Centre at 020 - 27218080

     Fax: 020-27218081

     E-mail us at:

     SMS NSDLPAN < space > Acknowledgement No. & send to 57575 to obtain application status

     Write to: INCOME TAX PAN SERVICES UNIT (Managed by NSDL e-Governance Infrastructure Limited),
     5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8,Model Colony, Near Deep Bungalow Chowk, Pune – 411 016.

Click here for detailed Instructions for filling form49A

(हिंदी भाषा में निर्देशों के लिए यहाँ क्लिक करें)

AADHAAR CARD(UID) AND IT'S APPLICATIONS

2014-06-16T05:58:00.000-07:00

< Operations Management and..		Leveraging Technolog.. >

Lets begin with a story; A Police officer is searching for a criminal for some case. He started his investigation at the place for finding some clues. He found a bloody thumbprint and takes it down to the lab, analyzes and matches it to a recorded set of prints thereby finds and catches the criminal. This is what most of the movies show us. In this case if the fingerprints did not match the recorded set of samples how can we trace that person in a world with nearly 7 billion populations?

Is this possible only in the reels or can we implement this even in real life?

We can make it possible in real life if we have the fingerprints of all the residents of a country stored in one database where we also store the entire information used to authenticate him and issue him a unique identification number. For example every citizen or permanent resident of Bulgaria has a unique 10-digit Uniform Civil Number. This number can be used for tracking their citizens for the purposes of taxation, government benefits etc. Many developed countries have this national identification number.

In India there are some problems regarding the identities like,

Due to lack of ability there are issues of multiple identities for same person and also it has been difficult to identify fake documents or fake identities.
If photo is not present on the identity we cannot say whether the identity belong to the person carrying it or not.
Due to fake identities there are misuses of welfare benefits as it is difficult to uniquely identify the individuals.

So India also thought of providing a unique identification for each and every resident of the country.

Unique Identification Authority of India (UIDAI)

The UIDAI's mandate is to issue every resident of India a unique identification number linked to the resident's demographic and biometric information, which they can use to identify them anywhere in India, and to access a host of benefits and services.

Aadhaar:

The number has been named Aadhaar, which means 'foundation', or 'support'.

Aadhaar card, consisting a12 digit number is issued for every individual, including infants. Each individual of a family will have separate Aadhaar UID number.
While enrollment it verifies all the documents pertaining to an individual and collects biometric information - photograph, ten fingerprints and iris through scanning.

Benefits of Aadhaar

Easily verifiable in an online cost effective way.
It is unique and robust enough to eliminate the large number of duplicate and fake identities in government and private databases.
Aadhaar's guarantee of uniqueness and centralized, online identity verification would be the basis for building these multiple services and applications, and facilitating greater connectivity to markets.
It would give any resident the ability to access these services and resources, anytime, anywhere in the country.
Aadhaar card can be used for opening Bank account, Gas connection, Ration card, Phone connection, PAN card, Passport.
It would also be a foundation for the effective enforcement of individual rights.

Problems in Banking Sector:

Despite emerging technologies in banking sector, rural people didn’t have access to bank services, where 40% of the rural residents did not have bank accounts. As the poor will transact in lower amounts banks will not find them attractive, as their transaction costs are high.

Aadhaar authentication in banking

The strong authentication that UIDAI will vastly reduce the documentation that the poor are required to produce for a bank account, and significantly bring down Know Your Customer (KYC) costs for banks. So if every rural resident has an Aadhaar card then the banks can help him or her opening an account with minimum costs than earlier.

UID and its applications

Aadhaar card at present is issued on a voluntary basis. If it made mandatory it can be used for various applications in different fields.

Government benefits

Government can transfer the benefit amount directly to the bank account of the beneficiaries to which their Aadhaar card is linked. In this way we can avoid middlemen eating away the government fund. For the rural people if the bank branches are not there in their village we can provide them the microATM facility where he need to verify his identity by making a thumb impression on the microATM. Then the person carrying the microATM will pay the benefit amount and the bank will deduct this amount from the beneficiary’s account.

Voting

Using Aadhaar card as Voter’s ID and implementing a technology at election counter where voter can either type his Aadhaar number or swipe his card, we can eliminate duplicates thereby reducing rigging in elections.

Criminal acts

In a huge country like India it is always difficult to capture culprits. if any cc camera fortunately records video of culprit then by using that photo we can easily find out through the database of UIDIA. Also in some criminal acts if we get the fingerprints of the criminal, we can try to match them with the database and easily catch the culprit.

Corruption:

As Aadhaar card number is linked to a bank account, instead of ATM’s we can use Aadhaar card to withdraw cash, pay bills, cash transfer etc. Corruption, a major issue in India can be solved by this approach as we use the card for every transaction that we make, so it is easy to find the persons who transact in large amounts or who transact or spend more than their income. By this, illegal transactions can be controlled and corruption can be easily controlled.

Perfect authentication

Aadhaar UID uses biometric scanning to ensure the authentic identity of a person, whereas a Voters ID, driving license, even a passport can be forged.

LPG Distribution

LPG for Domestic Cooking is heavily subsidized. So people are using fake connections and misusing the benefits. If Aadhaar card is integrated with the customer database of LPG we can eliminate illegal diversion of cylinders.

Mobile connections

Mobile connections are widespread and these connections can be used for anti national activities. If we authenticate all the mobile connections of a person by linking them to his Aadhaar number we can have a control on the fake connections.

Ecommerce

Due to cash on delivery payment system offered by various e-commerce players there is a risk of a fake customer order or a customer denying that he didn’t order it. To avoid this we can authenticate the customer by asking his Aadhaar card number and the mobile number, which is linked to the Aadhaar.

One card for all

If the Aadhaar card consists of all the information including address, photo, PAN card number, license details, Voter ID, ration card we can remove all the cards and use only Aadhaar card for all purposes thereby reduce large amount of paper. Link all vehicle registrations to Aadhaar card, all PAN card details to Aadhaar card. So Aadhaar card will be the only card providing Unique Identification.

Actions to be taken

To reap benefits from all this sectors, we need to make UID mandatory to all the residents of India. So that in 20 years down the line every person in the country will have UID cards.

As the population in India is huge it is difficult to implement and authenticate each time in every sector when a person want to receive any benefit. It will require massive amount of supercomputer, processing power, bandwidth and IT infrastructure at local, district, state and central level. This needs more budgets to implement. There are also concerns that personal data will be revealed if back search is done and possible security threat exists as bank accounts are linked to Aadhaar card.

So when we consider the risk model we see that, as it requires huge technology and expertise the ability to execute is less but if we implement it we have a great opportunity for economic growth so we might face an implementation risk. But if a proper budget is allocated and the necessary technology is made available in every sector it moves to the sustainability quadrant and thereby we accomplish sustainable economic growth.

India is undergoing many technological and economic advances in both Government and private sectors. Still many people in India are solely dependent on government benefits and services. So for sustainable growth in the country we need to provide these services to the right person for which we need a verifiable identity. Aadhaar provides this unique identification facility. Also if we implement Aadhaar verifiable technology in every sector we can eliminate corruption, fake identities and have a fair process.

Article has been authored by M P Prashanthi Priyanka, TAPMI

References:

http://uidai.gov.in/

http://www.npci.org.in/documents/AEPSFAQBank.pdf

http://en.wikipedia.org/wiki/Unique_Identification_Authority_of_India

Getting Familiar with ShareMarket Related Concepts

2014-06-16T05:54:00.000-07:00

Once you enter the Stock market, you will frequently come across terms like Market Capitalization, Small-Cap Stocks, Mid-Cap Stocks and Large-Cap Stocks. In this section you will get an understanding of what these terms mean in the context of stock markets.

Let us first understand MARKET CAPITALIZATION

MARKET CAPITALIZATION

A: "Cap" is short for capitalization, the market value of a stock, indicating the size of the stock available.

Calculating a stock's capitalization

Market Capitalization = Market Price of the stock x The number of the stock's outstanding* shares

*Outstanding means the shares held by the public

For example, if Stock A has a Current Market Price of Rs 20 per share, and there are 1,00,000 shares in the hands of public investors, then Stock A has a capitalization of 20,00,000.

The company's capitalization is an effective parameter to group corporate stocks.

In the US, mid-cap shares are those stocks that have a market capitalization ranging from Rs 9,000 crore to Rs 45,000 crore. In India, these shares would be classified as large-cap shares. Thus, classification of shares into large-cap, mid-cap, small-cap is made on the basis of the relative size of the market in that particular country. The total market capitalization of US markets is $15 trillion. In India, the market capitalization of listed companies is around $600bn.

SMALL-CAP STOCKS

A: The stocks of small companies that have the potential to grow rapidly are classified as small-cap stocks. These stocks are the best option for an investor who wishes to generate significant gains in the long run; as long he does not require current dividends and can withstand price volatility. Generally companies that have a market Capitalization in the range of upto 250 Corores are small cap stocks

As many of these companies are relatively new, it is difficult to predict how they will perform in the market. Being small enterprises, growth spurts dramatically affect their values and revenues, sending prices soaring.

On the other hand, the stocks of these companies tend to be volatile and may decline dramatically.

Most Initial Public Offerings are for small-cap companies, although these days large companies do tend to source the capital markets for expansion plans. Aggressive mutual funds are also enthusiastic about adding small-cap stocks in their portfolios. Because they have the advantage of being highly growth oriented, small-cap stocks can forego paying dividends to investors, which enables the profits earned to be reinvested for future growth.

MID-CAP STOCKS

A: Mid-cap stocks are typically stocks of medium-sized companies. These are stocks of well-known companies, recognized as seasoned players in the market. They offer you the twin advantages of acquiring stocks with good growth potential as well as the stability of a larger company. Generally companies that have a market Capitalization in the range of 250-4000 crores are mid cap stocks

Mid-cap stocks also include baby blue chips; companies that show steady growth backed by a good track record. They are like blue-chip stocks (which are large-cap stocks) but lack their size. These stocks tend to grow well over the long term.

LARGE-CAP STOCKS

A: Stocks of the largest companies (many being blue chip firms) in the market such as Tata, Reliance, ICICI are classified as large-cap stocks. Being established enterprises, they have at their disposal large reserves of cash to exploit new business opportunities.

The sheer volume of large-cap stocks does not let them grow as rapidly as smaller capitalized companies and the smaller stocks tend to outperform them over time. Investors, however gain the advantages of reaping relatively higher dividends compared to small- and mid-cap stocks while also ensuring the long-term preservation of their capital.

What drives bull and bear markets?

A: The uses of "Bull" and "bear" to describe markets have been derived from the manner in which each of these animals attacks its opponents. A bull thrusts its horns up into the air, and a bear swipes its paws down. These actions are metaphors for the movement of a market: if the trend is up, it is considered a Bull market. And if the trend is down, it is considered a Bear market.

The supply and demand for securities largely determine whether the market is in the Bull or Bear phase. Forces like investor psychology, government involvement in the economy and changes in economic activity also drive the market up or down. These combine to make investors bid higher or lower prices for stocks.

How can you qualify the market as bull or bear?

A: Bull and Bear markets signify relatively long-term movements of significant proportion. Hence, these runs can be gauged only when the market has been moving in its current direction (by about 20% of its value) for a sustained period. One does not consider small, short-term movements, lasting days, as they may only indicate corrections or short-lived movements.

What are stock symbols?

A: A stock symbol is a unique code that is given to all participating companies in securities trading. Once you know the stock code/symbol of the company (sometimes referred to as a ticker symbol) you can easily obtain information about the company. This is important, as a wise investor will always do a financial analysis before purchasing a stock.
For ex- tcs stands for Tata Consultancy Services Infy stands for Infosys

Note :- While placing orders with Kotaksecurities.com you need to type in just the first three alphabets of the company and our site will display all possible combinations, from which you may select the stock that you wish to invest in.

  Where do I find stock related information?
A: The most accessible avenue to get stock information is the Internet, business news channels and print media. You could alternatively access theKotak Securities News Channel and get all the information that you wanted within a matter of seconds. Using Kotak Securities News Channel, you can get the latest news, on Equity, Derivatives,Mutual Funds & IPO's

  What are rolling settlements?
A: Let us understand Rolling Settlements with an example.
Supposing your friend agrees to buy a book for you from a bookshop, you will have to pay him for it eventually. Similarly, after you have bought or sold shares through your broker, the trade has to be settled. Meaning, the buyer has to receive his shares and the seller has to receive his money. Settlement is just the process whereby payment is made by all those who have made purchases and shares are delivered by all those who have made sales.
A Rolling Settlement implies that all trades have to settled by the end of the day. Hence the entire transaction, where the buyer has to make payments for securities purchased and seller has to deliver the securities sold, have to completed in a day.
In India, we have adopted the T+2 settlement cycle, which means that a transaction entered into on Day 1 has to be settled on the Day 1 + 2 working days, when funds pay in or securities pay out takes place.
'T+2" here, refers to Today + 2 working days.
For instance, trades taking place on Monday are settled on Wednesday, Tuesday's trades settled on Thursday and so on.
Hence, a settlement cycle is the period within which the settlement is made.
For arriving at the settlement day, all intervening holidays -- bank holidays, Exchange holidays, Saturdays and Sundays are excluded. From a settlement cycle taking a week , the Exchanges have now moved to a faster and efficient mode of settling trades within T+2 Days.

  What is the meaning of the term selling short?
A: An investor sells short when he anticipates that the price of the shorted stock will fall from the existing price. He borrows a share and sells it. As the share price dips, he buys the same share at a lower price and returns it back, while pocketing a profit in the bargain. An adage that describes short selling is ("selling high and buying low'.) Selling Short(Shorting) is an effective tool for traders as it allows us to profit from declining stock and index prices.

A definition of "Selling Short"

Selling short implies establishing a market position by selling a security one does not own, in anticipation that the price of the security will fall.

For eg. Trader anticipates stock ABC will decline
Trader enters order to SELL 2000 shares of ABC at market price and later buys the 2000 shares of ABC at a much-reduced price. The difference in the prices of the selling and buying is his profit. However if the share prices increase after he has sold at a reduced price earlier, then he ends up with a loss. Hence Shortselling is something that is speculatory to a certain extent and is done in anticipation of quick profits.

  What is margin trading?
A: Margin trading is trading with borrowed funds/securities. It is almost like buying securities on credit.

Margin trading can lead to greater returns, but can also be very risky. While it lets you actively seize market opportunities it also subjects you to a number of unique risks such as interest payments charged for the borrowed money.Kotaksecurities.com offers its customers the facility of Margin trading.

  What are Circuit filters & trading bands?
A: In order to check the volatility of shares, SEBI has come up with the concept of Circuit Filters. Under this, Sebi has specified the fixed price bands for different securities within which they can move on a given day.

Recently, in a bid to check the rampant price manipulation in small-cap stocks (known as penny stocks), stock exchanges reduced the circuit filter maximum permissible rise in prices in a day to 5 per cent. Earlier, stocks were allowed to rise up to 20 per cent in a session.

The NSE has also reduced the circuit filter in all the stocks, which are traded on a trade-to-trade basis to 5 per cent. As the closing price on BSE and NSE can be significantly different, this means that the circuit limit for a share on BSE and NSE can be different.

  What is Badla financing?
A: As the term itself signifies, 'Badla' means 'something in return'. Badla is the charge, which the investor pays for carrying forward his position. This hedge tool lets the investor take a position in a scrip without actually taking delivery of the stock, thus carrying forward his position on the payment of small margin. The badla system of transactions has been in practice for several decades in the Stock Exchange, Mumbai and serves 3 needs of any stock exchange:

A) Quasi-hedging:
If an investor feels that the price of a particular share is expected to go up or down, without giving or taking the delivery he can participate in the possible volatility of the share.

B) Stock lending:
If a stock lender wishes to short sell without owning the underlying security, he employs the badla system and lends his stock for a charge.

C) Financing mechanism:
If he wishes to buy the share without paying the full consideration, the financier steps into the CF system and provides the finance to fund the purchase The scheme is known as "Vyaj Badla" or "Badla" financing.

For example, X has bought a stock and does not have the funds to take delivery he can arrange a financier through this carrying-forward mechanism. The financier would make the payment at the prevailing market rate and would take delivery of the shares on X's behalf. X will only have to pay interest on the funds he has borrowed. Vis-à-vis, if you have a sale position and do not have the shares to deliver, you can still arrange through the stock exchange for a lender of securities. An investor can either take the services of a badla financier or can assume the role of a badla financier and lend either his money or securities.

  How the Badla system works?
A: On every Saturday, a CF system session is held at the BSE. The scrips in which there are outstanding positions are listed along with the quantities outstanding. The CF rates are determined depending on the demand and supply of money. There is more demand for funds when the market is over bought, and consequently the CF rates tend to be high.

However, when the market is oversold the CF rates are low or even reverse i.e. there is a demand for stocks and the person who is ready to lend stocks gets a return for the same.

The scrips that have been put in the Carry Forward list are all 'A' group scrips, which have a good dividend paying record, high liquidity and are actively traded. The scrips are not specified in advance, as it then gets difficult to get maximum return. The Trade Guarantee Fund of BSE guarantees all transactions; hence, there is virtually no risk to the badla financier except for broker defaults. Even if the broker through whom you have invested money in badla financing defaults, the title of the shares would remain with you and the shares would be lying with the "Clearing house". However, the risk of volatility of the scrip will have to be borne by the investor.

  What is Insider Trading?
A: In your dealings with the stock world, you will often come across the term 'insider trading'. In simple words, the meaning of insider trading is 'the trading of shares based on knowledge not available to the rest of the world.

Insider trading has 2 connotations.

Corporate personnel of a company buying and selling stock in their own company. When corporate insiders trade in their own securities, they must report their trades to the exchange. Illegal insider trading refers to buying or selling a security after receiving 'tips' of confidential securities information. Thus it is considered as a breach of confidence while in possession of non-public information about the company.

Examples of insider trading
· Corporate officers, directors, and employees who traded the corporation's securities after learning of significant, confidential corporate developments;
· Employees of law, banking, brokerage and printing firms who were given such information to provide services to the corporation whose securities they traded;
· Government employees who learned of such information because of their employment by the government; and
· Other persons who misappropriated, and took advantage of, confidential information from their employers.

  What are the various types of the risks once I start trading?
A:   Market Risk
This is the risk of investing in the stock market in general. It refers to a chance that a securitys value might decline. Although a particular company may be doing poorly, the value of its stock can go up because the stock market value is collectively going up. Conversely, your company may be doing very well, but the value of the stock might drop because of negative factors inflation, rising interest rates, political instability etc that are effecting the whole market. All stocks are Affecting by market risk.

     Industry Risk
This is risk that affects all companies in a certain industry. For eg. Utility companies, are often viewed as relatively low in risk because the utility industry is stable and operates in a predictable environment with relatively little change. In contrast, internet and other technology industries are usually viewed as high in risk because the industry is changing so quickly and unpredictably. The dotcom bubble burst in the 90s affected the valuation of all stocks in that industry.

All stocks within an industry are subject to industry risk.

     Regulatory Risk
Virtually every company is subject to some sort of regulation. It refers to the risk that the government will pass new laws or implement new regulations, which will dramatically affect a business.

     Business Risk
These are the risks unique to an individual company. It refers to the uncertainty regarding the organizations ability to perform business or provide service Products, strategies, management, labor force, market share, etc.,Which are among the key factors investors consider in evaluating the value of a specific company.