Thursday, May 21, 2015

Senior Citizens: Inventory of Objects kept by their bedside

Senior Citizens: Inventory of Objects kept by their bedside

Recently, Sri Ragavendra Rao, of sss-global, mentioned a few things kept by him at his bedside (in preparation for sleeping) and asked others to say what other members keep. What Mr Rao listed are things he might need if he wakes up or use them before sleeping. A large number of people said they would keep the mobile. No one admitted he would keep away his dentures.  Mr Ramana gave a funny reason to keep spects: In case he wants them during a dream. Sri Rangarajan identified ‘why’ we may keep such objects – Items that we may put away before sleeping off (spects, books etc) or those that we may need without much searching / walking about.  Meeting Emergencies seems a strong reason for the presence of Mobile, torch, medicines etc. Couple of members said they do not keep anything by their bedside and have trust in God. A few mentioned things that they themselves (by choice) do not keep anything but their family members dump them! An enumeration of such objects is given below. Would you like add some more? Use Comments for feedback.

1.Eye drops.
2.A small towel.
3.A pen torch.
4.Front door entrance key.
5. Mosquito repellant.
6.Pain balm.
7.Vicks bottle.
8.A pair of socks.
9.My wrist watch.
10.My cell Phone fully charged. pair of Bedroom chapels.
12.cotton buds.
13.My spectacles.
14,drinking water
15 Medicines, sprays etc
16. Transister Radio
17. Table Lamp
18. Extra bedsheet
19. House Key bunch

Sunday, May 17, 2015

ATM PIN : Who are these users?

ATM PIN Numbers

Recently, after the ATM PIN Theft and abuse in Picket ATM of Syndicate bank, the bank has been advising all debit card and ATM card users to change their PIN at the soonest. I was wondering how people choose PIN numbers and how they try to remember them. More importantly I tried to figure out what kind of personalities will choose what PIN. And I asked my friends to help. Here are the results. Do you agree? Do you have additions? Welcome if you wish to share.

PIN and who might use these PIN

Suggested by
Egoistic Individual
P Vyasamoorthy
Thinks two (too) much of himself
P Vyasamoorthy
Threesome for ever
P Vyasamoorthy
Confirmed - highly sexy
P Vyasamoorthy
School Teacher
P Vyasamoorthy
Thinks hat trick is not enough
P Vyasamoorthy
Lazy; thinks he is in cloud 9
P Vyasamoorthy
Utter flop as a bowler
C Shankar Rao
Excellent batsman
P Vyasamoorthy
P Vyasamoorthy
P Vyasamoorthy
considers everything as zero
SK Kochhar
Perfect memory
Utterly religious
SK Kochhar
Doesn’t believe in bad luck
SK Kochhar
Senile & old
SK Kochhar
Self or husband of old fat lady
SK Kochhar
Dus Numbri criminal
SK Kochhar
Dreams of Sweet Sixteen
SK Kochhar
Thinks he will live for ever
S Sundararajan

Friday, May 15, 2015

Why TDS must be scrapped

After reading Justice Rangarajan's writing on TDS, reproduced below, I feel TDS must be scrapped. Employers who are asked to deduct tax at source must move the Supreme Court against TDS. Either it must be scrapped altogether or the Employers be adequately be compensated for Tax Law compliance, or rather for doing IT department's work. From the Pax payer's angle it is an unwanted nightmare. Another draconic rule that I see: If PAN is not quoted in Form 15H / 15G, 20% tax will be deducted. Merely because nobody protests, Tax dept is becoming a big nuisance.


Mauling the Messengers

The real sting of the present system is the deduction of tax at source. This is a job of the department to collect tax, which is quietly outsourced to the employers and others who need to make some payment. They have to deduct the tax due on the payment, file a return with the department and give a certificate to the payee. And unlike the income tax officer, they can be punished for not doing that work! ( section 271C) 
The Planning Commission has estimated the cost of complying with this requirement is about 45% of the amount paid out. The Comptroller and Auditor General (CAG) has pointed out that in nearly 50% of the cases, returns have not been filed by the deductors and there is also default in remitting the tax deducted.
In para 2.14.3 of the Report No8 of 2007, it is stated that the amount refunded out of tax deducted at source (TDS) was about 15% indicating that tax was deducted even where it was not required. A more poignant situation is when tax is deducted, though the person has no taxable income. This tentacle is long enough to freeze the bank accounts of the deductor even though he is not the taxpayer and no amount is due from him.

Quoted from Moneylife website ; URL:

Thursday, May 14, 2015

Dentists and registration in AP & Telangana

Read in Today's Deccan Chronicle. See Dentist at work given below the news item. Many members in Secunderabad may know that a car dentist is one who rectifies bumps / dents in the car body.

Monday, May 4, 2015

Tax Burden on the husband

Tax Burden on the husband

Justice TNC Rangarajan points out how in Section 64 of IT Act investment in the name of the wife gets added to husband's income and is taxed at highest slab. This anomaly has to be removed.
Incidentally you may notice that this letter to MONEYLIFE has been judged as best! Let us congratulate him. Trust FM is listening.