Indian Finance minister and Income Tax

There was a news that the Flat resellers will be watched out by finance ministry and the reseller have to pay the tax. Finance minister thinks that people are earning easy money in lakhs of rupees by reselling the flat in a year or two. So, Government also wants to earn easy money by catching these transactions.

But in reality, the Builders, and Real Estate folks are earning lot of money and most of them are not taxed. All the transactions are not documented most of the time and direct revenue.

A small real estate person who helps to find rental houses earns more than a software engineer nowadays in Bangalore. If he helps you to find out a house of 10K monthly rental, he earns 10K from the tenant and 5K / 10K from the owner. A smart real estate person can make a lakh rupees easily in a month.

Can the finance minister get the tax for these income???

And some professions like Medical, people escape paying the tax. Doctors who have clinic, charges 100 or 150 per patient, and if 50 patients visits him on a day, he earns approx 150000 to 225000 rupees per month. A reputed doctor earns more than this. I don't know how much tax they pay.

Can the finance minister get the tax for these income???

How many politicians declare their income properly and pay the tax properly?

Can the finance minister get the tax for these income???

Okay, as a salaried person, they deduct the tax on my salary before paying the salary to me, do I get the enough benefit???

Why don't finance minister introduce some schemes like:

If you have paid X lakhs of rupees, When you take a loan from a government bank, you will get Y% discount on the interest rate?, etc...

India poised to become second biggest economy

Good to hear that Indian economy will become the second biggest....

Read more about the report by Goldman Sachs....



Goldman Sachs Report in TOI News

Conference Bus in Bangalore

Lot of innovations happening in Bangalore because of the horrible traffic.

Excerpt from TOI Newspaper:

The Karnataka State Road Transport Corporation (KSRTC), has introduced a spanking new bus facility — Conference Buses. The bus, touted as the first of its kind, is, in a nutshell, a conference room packaged in a bus. Replete with television, LCD projector, audio-visual facilities, pantry, attendants to even bring in snacks, driver and co-attendant, fixed tables and swivel chairs, refrigerator, generator, these buses are the perfect antidote to a brick and mortar conference halls in five-star hotels. Check the following link for more details...

Conference Bus in Bangalore

Appliacations for mostly populated/crowded countries

Normally I travel in train under un-reserved compartments. I usually go an hour early to the Railway station, buy a ticket, try to get the seat in the train, and travel. On that day, I reached the railway station little late. There was a huge queue to buy the ticket. Although there are almost 10 counters in Bangalore majestic station to issue the tickets, the counters are not enough for the crowd that travels. Usually it is normal in highly populated countries like India. This might be the same in counties such as China.

It is not possible to find a solution through operation research by optimizing the counters and the process considering the crowd. It cannot be solved just by increasing the counters.

Few people are trying to solve this problem, but in the wrong direction. I saw a ticket vending kiosk in the railway station, which accepts the credit card and issues tickets between important stations. Issues still persist with this solution:
1) It is similar to adding one more counter, which divides the crowd just by another provider.
2) This is not efficient as the person in the ticket counter, almost all first timers try twice or thrice to know the flow and get a ticket.
3) That Kiosk support only credit cards issued by restricted banks.
4) It is not so reliable, sometimes it does not work.

I was thinking while I was moving in the queue . I had enough time to think, it took 25 minutes to go near to the counter. Since everyone have the mobile phones nowadays and still the mobile phone density is increasing in India, why don't we develop applications in mobile platform and tie-up with Railways, etc. No one have to stand in queue :) . People can pay the money directly from their bank through the mobile phone and get the ticket in a minute instead of 25 minutes.

It is like providing a Kiosk to each one...

Similar solutions can be developed wherever their is a huge queue that cannot be handled just by increasing the providers/counters.

Product Companies in India

Good and Proud to read the article

From the data that are revealed at NASSCOM's second annual Product Conclave:
Of the existing 371 software product start-ups since 2001, over two-thirds have been formed in the past three years. Of this, 100 companies have started their operations in 2007 alone.

Child Labour

People talk about the child labour on different occasions. But how they missed this?

Normally people point out the poor kids working out some where to earn few bucks for their daily breads and force them out of their job. This might make their life more miserable. Why those folks look at the above advertisement. All the actors in the above advertisement are kids. Is this not a child labour? Why nobody argues against this? If we stop this kind of child labour, it will be better instead of stopping the child labour that is required for running the life.

Indian Rupees Vs US Dollars

In the recent days, Value of Indian rupee is rising over the US Dollar.
It is good one way - Indian currency value is going up :)
It is bad one way - Lots of traders, employees getting affected because of the decrease in exchange rate :(

Whatever the consequences are, Should the government support this and appreciate the rise of Indian currency value or should it act to stop the rise?

Indian Provident Fund Organization...

Last week, I received the PF statement, which was distributed by the office Guys.
You know what, that PF statement is for the 2004-2005 Financial year.
Today's date is Nov 8th, 2007. They are distributing this statement almost 2.5 years late.
It is very shame to see that it has not changed yet, can we still say that India is a developing country??? If things are like this, when will this country become a developed country???

At least the PF organization should cope with the attrition rate in the Indian IT industry... sigh...

I am surprised to see a site for the PF organization (http://epfindia.nic.in/)
I clicked on the "Know your Claim Status" link and selected Karnataka as state, it thrown an error "

The resource cannot be found.

Unreserved Travel in Train

Last week I traveled from Bangalore to Arakkonam for Eid. The train normally leaves Bangalore at 10:45 PM. I had reached the station at 9:30, got the ticket and waited for the train. When the train entered the station, every one fights to enter into the train to get a seat for him. I somehow, got into train and got a seat to sit on the top tier. When I got into train it was around 10:00 PM. Till the last minute crowd keeps entering into the train. Their was 1 or 2 unreserved compartments only and around 20 reserved (Sleeper and A/C coaches).

Only 2 trains are available in the night time, so the reservation gets over 2 or 3 weeks before the journey date. If you decide to travel 1 week before the journey date, you have to travel by unreserved compartment. Check out the first picture, that is not taken anywhere in the middle of the compartment, that was the entrance of the compartment. Crowd keep coming and trying to figure out some place to stand in any of those 2 unreserved compartments.

On each of 4 people seats, 6 or 7 people were sitting, on each of the upper tier, 4 people were sitting, and few people were lying down on the luggage space. One guy was fighting with people to move, so that people can come inside. Few people supported him, few people were against him. The person who got the space to lie down is happily watching the fight and few guys were busy on their mobile...
Just imagine the women travelers on this crowd. They were having big troubles...



Questions to Railway Ministry:
1) When we pay the tax, rather when you detect the tax at source, why don't you provide us the facility to travel?
2) Why can't you analyze the travel frequency and schedule the trains effectively (more trains on friday nights, more unreserved compartments, etc)?
3) Why don't you travel once in unreserved compartment to realize the pain of others?

Anyhow, tips to travel in unreserved compartment:
1) You need to be there in platform before the train arrives the station.
2) To follow the first tip, you need to be their in station 90 minutes before the scheduled time.
30 minutes will be spent to get the unreserved ticket.

Right to Emergency Care - Supreme Court Verdict

Right to Emergency Care:
Date Of Judgment: 23/02/2007.
Case No.: Appeal (civil) 919 of 2007.

The Supreme Court has ruled that all injured persons especially in the case of road traffic accidents, assaults, etc., when brought to a hospital / medical centre, have to be offered first aid, stabilized and shifted to a higher centre / government centre if required. It is only after this that the hospital can demand payment or complete police formalities. In case you are a bystander and wish to help someone in an accident, please go ahead and do so. Your responsibility ends as soon as you leave the person at the hospital.

The hospital bears the responsibility of informing the police, first aid, etc.

Please do inform your family and friends about these basic rights so that we all know what to expect and what to do in the hour of need. Please not only go ahead and forward, use it too!!!!

How India is going to handle the travel population?

Recently, I travelled to Theni, Tamilnadu, India.
Purpose of the visit is to attend a marriage and to meet a friend on the way.
I travelled with one of my friend from bangalore.
We planned to meet a friend of ours in coimbatore.
Luckily we got the train reservation from bangalore to coimbatore.
We got down in coimbatore, got a chance to see the movie, Sivaji.
Later in the day, we all had dinner and we two departed from coimbatore at 10:00PM.
There are 2 bus stands in coimbatore. We took a local bus to reach the other bus stand to get a bus to Palani. There are buses every 15 minutes to Palani, but the crowd waiting for the bus is almost triple whenever a bus comes into the busstand.
I carried our bags and my friend tried hard to get seats for us, but it was a vain attempt.
Then we decided to goto other bus stand, took a local bus and reached there.
There we saw more crowd than the previous busstand. We waited there for another 45 minutes and the time was around 12 in the night. Finally a bus came, this time we rushed into the bus and we got our seats.
We got down at Palani. from there we need to travel in Madurai bus, get down at a place called "Mattu Thavani" and catch another bus to reach Theni.
Around 2:30 AM, there are lot of people waiting for the bus at Palani.

This time we know the strategy to get a seat in the bus, we waited at the entry of the bus stand.
After 30 minutes, we could see a bus to madurai, we rushed into the bus and got seats for us. We got down at "Mattu Thavani" and got a bus to Theni. We reached early in the mornning at 7:00 AM.

News Channels contribution for Better India...

News Channel’s contribution for Better India…

     Recently I saw the operation “Water Rat” in CNN IBN News channel, which is pretty new and also pretty good. V K Shashikumar & Ruksh Chatterjee and of course their team has lots of Guts. I appreciate you guys to take up this kind of challenge.
Is  Indian Government listening…..

Check out the news @
http://www.ibnlive.com/article.php?id=4779§ion_id=3#

5 IITians form Political Party

5 IITians form political party: Good News to Hear (
     I was thinking a lot about this, I mean the Educated and Dynamic People in Politics. I don’t mind joining them (.
I saw the news this morning in the Times of India newspaper. I felt happy to read that article. Here is that article. “Courtesy: Times Of India”

Article By Pooja Virendra Kumar/TNN
Bangalore: Seems like Mani Rathnam’s Yuva(Hindi) / Ayutha Yezhuthu (Tamil)  is getting off the reels. Five IITians(image placeholder), all in their 20s, have decided to take up mainstream politics. The youths, based in Jodhpur, will be in the city to campaign for their national party, “Paritrana’’, which was launched in Jodhpur on Friday. “Giving up handsome pay packages, comfort of family and support of friends wasn’t that easy,’’ says Tanmay Rajpurohit, the national president of the party and B Tech in aerospace from IIT Bombay followed by an MS from GeorgiaTech and double masters in arts. “But my inner voice told me that I should invest my efforts in my country rather than making my pockets heavier,’’ said Ajit Ashwalayan Shukla, vice president of the party. “People think we are crazy so much so that our families have also failed to understand our motto, but we won’t give up,’’ he added. The core team of “Paritrana’’ comprises Rajpurohit, Shukla, Amit Beesen, also the vice president and a B Tech (Mechanical) from IIT Bombay and a LLB graduate, Chandrashekhar (national treasurer), B Tech (computer science) from IIT Kanpur, Bharat Sundaram, the PRO of the party and B Tech from IIT Kanpur and PhD in electronics from Melbourne. “Paritrana means complete relief from the various causes of distress, and that is what we want to do for our people,’’ added Chandrashekhar. Low funds have not discouraged them in their efforts of holding door-to-door campaigns in Gujarat, Madhya Pradesh, Rajasthan and parts of Maharashtra. “We strongly feel that the politicians of today are no longer the voice of the common man but instead they voice their own personal agendas through which they can fetch maximum votes,’’ said Shukla. “We are not here for the power game. We are here to deal with the grassroots issues of each and every small village that we come across,’’ added Shukla. The zeal and burning desire of the five youngsters sounds sincere. “I believe that we are just five ordinary boys from the middle class family with no godfathers in politics but have dared to come forward and fight for our rights,’’ said Chandrashekhar. “And we will succeed in it,’’ he added. After the launch of the party at the Suchana Kendra in Jodhpur, the party members, as a part of their promotional campaign will tour Jodhpur, Udaipur, Ahmedabad, Mumbai, Pune, Bangalore and Chennai.