This episode is from the WNYC archives. It may contain language which is no longer politically or socially appropriate.
here is a nice article explaining about TDS that is deducted from employees every month.
it explains a lot about how the TDS and Income Tax is calculated
The first most important deduction which is available to every salaried employee is the deduction under section 80C of the Income-tax Act, 1961 whereby on a sum total of maximum Rs.1 lakh the investments can be made in terms of section 80C of the Income-tax Act, 1961. The following are the important items for which the employee can make the investment and then enjoy the deduction within the overall limit of Rs. 1 lakh.
(a)Life Insurance Premium for self, wife & children & also contribution to Unit Linked Insurance Plan (ULIP).
(b) Contributions to Provident Fund.
(c) Contributions to Public Public Provident Fund.
(d) Contribution to Equity Linked Savings Scheme (ELSS) – may be combination of more than one plan.
(e) Payment for Purchase or Construction of residential house so arrived at by looking at the breakup of your EMI Payments – but no deduction for repayment of loans to all but only for loans from employer, banks, LIC, National Housing Bank, etc. If would also include stamp duty & payment of registration fee of the house.
(f) Term Deposit/Fixed Deposit with a bank for 5 years or more
(g) Deposit in Senior Citizens Savings Scheme – may be in one lot or different lots.
(h) Investments in National Savings Certificates (NSC) & Post Office Time Deposit Scheme.
(i) Payment of tution fees for full time education of any two children excluding donation, etc to school.
In addition to the above items which entitle an assessee to claim deduction under section 80C, it is also possible for the employee to enjoy deduction for contribution to certain Pension Funds as per section 80CCC or deduction in respect of contribution to Pension Scheme of the Central Government as per section 80CCD. However, the deduction in respect of these items inclusive of the deduction under section 80C is limited to a maximum of Rs. 1 lakh. Hence, the employee should submit in the first place declaration to the employer about the proposed investments for the above purpose so that the employer can take the same into consideration and deduct tax at source accordingly.
The second important point which will entitle deduction at source from the salary income of the employee would be in respect of deduction for interest on housing loan. As per section 24 deduction available on housing loan for residential house upto Rs. 1,50,000 p.a. if loan taken after 1-4-1999 but it would be only Rs. 30,000 p.a., if loan taken prior to 1-4-1999. Do remember the following salient features:-
(1) Deduction only to the assessee who is owner of the property.
(2) Deduction available to each co-owner.
(3) If loan after 1-4-1999 the acquisition or construction must be completed within three years after taking loan.
(4) The employer can grant deduction only on furnishing simple statement to be verified by the taxpayer.
(5) Certificate from person to whom interest is to be paid to be submitted to the employer.
(6) Deduction permissible for loan from any one at any rate of interest.
(7) Deduction of interest for more than one house cannot be claimed within the limit of Rs. 1,50,000.
(8) Deduction for interest also permissible for other properties if rented out.
(9) Interest deduction for house loan available even if actual interest not paid during the year.
(10) Interest on House Building Advance taken by Govt. employees also allowed deduction even if firstly the loan is repaid & the interest is paid later on.
While claiming the benefit of deduction in respect of residential housing, care should be taken to note that the deduction cannot be available in respect of interest on housing loan in case the property is not ready.
The employer can also grant deduction in respect of other items also to the employee. Some of these important items for which deduction can be granted are as under :-
(a) Deduction as per section 80D on Medical Insurance Policies for self, spouse and children deduction upto Rs. 15,000 and further for Insurance of parents upto Rs. 15,000. However, if senior citizen the deduction is Rs. 20,000.
(b) Deduction as per section 80DD for maintenance of dependant with disability Rs. 50,000 and Rs. 75,000 for severe disability.
(c) Deduction as per section 80DDB for medical treatment of specified diseases for self and dependants Rs. 40,000 and Rs. 60,000 for senior citizens.
(d) Deduction as per section 80E for interest on loan for higher education without any upper limit.
(e) Deduction for donation under section 80G at the rate of 50% and 100% in case of Donations to P.M. Drought Relief Fund, Rajiv Gandhi Foundation National Defence Fund, etc. Employer generally not to give the deduction, employee to claim in Income-tax return.
(f) Donation to a recognised Political Party as per section 80GGC.
(g) Deduction in case of person with Disability as per section 80U of Rs. 50,000 and Rs. 1 lakh for persons with severe disability.
(h) Deduction for exemption from the amount of House Rent Allowance would be granted as per section 10 of the I.T. Act only if actually rent paid. The maximum deduction is minimum of (i) HRA amount (ii) Excess of Rent paid over 10% of salary (iii) 50% of salary for metros and 40% of salary in other towns.
(i) Deduction for Rent paid as per section 80GG upto 25% of income subject to maximum of Rs. 2,000 p.m.
To avail the above deductions from salary income it is utmost necessary to submit papers and details to the employer so that the employer can give necessary credit for the same while deducting tax at source.
(Articles by Subhash Lakhotia, Tax Expert)
apart from this one can get more information about Central It from:
some tax calulators:
for sikkim: tds calculator
Hello guys . . Its time for EPL again and time for Fantasy Premier league . .
Join the league or continue with the Sikkimonline league . .
Plus i have created a new league . . Its Head to Head league . . SikkimPremierLeague . . Code @
Some important information about how to play :
Help – Leagues
Your team doesn’t play matches against other teams. Instead, each team scores points based on action in Premier League matches and competes against other teams in a number of leagues.
The overall league involving all registered teams
A league for fellow managers from your country
A league for players starting the same gameweek as you
A league for supporters of your favourite Premier League team (optional)
Up to 15 private leagues with your friends and colleagues (optional)
Up to 3 public leagues with other game players (optional)
Once your first deadline has passed, you can’t change your country or supporters league. There’s no quitting half way through!
Private and public leagues use either a classic or head-to-head scoring system.
Teams are ranked based on the total points in the game. In the event of a tie between teams, the team who has made the least transfers will be positioned higher.
Each gameweek you will play a match against another team in the league, with a match result based on game scores. 3 points will be awarded for a win and 1 point for a draw. In the event of a tie, the team with the most game points will be positioned higher.
Optionally, a head-to-head league may end with a knock-out stage where the league winner is decided by a final match in the last gameweek.
Two days ago i saw something i had never seen before :-):-). Fruit of a bamboo . It appeared a green round ball like object with one tapered end . It contains bamboo seeds inside . It is said that it appears once in 20 years and it marks the end of its mother plant . .
By Dalvinder Singh (Grewal) Monday, December 02, 2002 – 12:00 AM GMT+=
A group =
consisting of Sardar Harbhajan Singh (Setia) and fourteen other Sikh dev=
otees from Delhi returned last March after a visit to Gurdwara Guru Dong=
mar in North Sikkim.
Gurdwara Nanaklama,SikkimThis picture sh=
ows tree grown in shape of stick believed to have been dug by Guru Nanak=
when he visited the place Chungthang in Sikkim.Picture taken=
by Jaspreet Singh in around 2002.
Guru Dongmar is a=
lake at a height of 18,000 feet alongside a glacial peak known by the s=
ame name. The lake remains frozen most of the year due to heavy snowfall=
for almost six months each year. Guru Nanak visited the place during hi=
s third udasi in order to solace the Karma-pa Nying-ma-pa sects then bei=
ng hounded out from Tibet by the Ge-lug-pa sect. Many from the Karma-pa =
Nying-ma-pa sect were the followers of Guru Nanak, as their Head Lamas b=
ecame Guru Nanak’s followers in Kailash Mansarovar area after being impr=
essed by Guru Nanak’s discussions with the famous Sidhas of the age. The=
se sects had fled from Tibet to the Himalayan belt of Northern India, wh=
ich included Ladakh, Himachal Pradesh, Uttra-Khand, Nepal, Sikkim, Bhuta=
n and Arunachal Pradesh.
Records show that during his journeys to=
the Himalayas and the Far East, including China, Guru Nanak visited all=
these states around 1516 AD. This itinerary is found recorded in Janam =
Sakhee Bhai Bala; Janam Sakhee Walait Wali; Janam Sakhee Meharban; Janam=
Sakhee B-40; Suchak Parsang by Bhai Behlo; Mahima Parkash by Baba Sarup=
Chand; Parchian Sewa Das; Nanak Prakash by Bhai Santokh Singh; Nanak Pa=
rkash, Twarikh Guru Khalsa and Gurdham Prakash by Gyani Gian Singh; Guru=
Khalsa Twareekh by Giani Lal Singh (Sangrur); Jeevan Charit Guru Nanak =
Dev ji by Dr. Trilochan Singh; Travels of Guru Nanak by Dr. Surinder Sin=
gh (Kohli); Atlas of Travels of Guru Nanak by Dr Fauja Singh and Kirpal =
Singh; Guru Nanak’s Travels to Himalayan and East Asian Region by Dr. Da=
lvinder Singh (Grewal) (the author), and a host of other researchers. Th=
ough Janamsakhis and other contemporary material are vague about the nam=
es of the places, yet they are specific about Al-Lachen Bhutan Des which=
are specially mentioned in these Janamsakhis.
Gurdwara Nanaklama, Sikkim This is a picture of gurdwara =
in CHUNGTHANG Sikkim India where locals hang scriptures along=
with Nishan sahib in prayer in bodhic style.It is believed guru nank de=
v ji visited this place and dug his walking stick at a place there ; whe=
re stick has grown into a tree which has trunk in stick shape and leaves=
are below the rounded trunk which looks like handle of stick.An amrit k=
und was also made to appear there by Guruji .Place was visited by chance=
by S. Jaspreet singh who shot this picture in year around 2002, while t=
ouring Sikkim on way to Kanchanchanga base camp.
The local people of the area and Lamas of Karma-pa Nying-ma-pa Sect=
confirm Guru Nanak’s visit to these areas. The Lamas from these areas h=
ave been visiting Golden Temple, Amritsar, regularly to pay obeisance to=
their beloved Guru Rimpoche, Guru Nanak, also known as Nanak Lama in th=
eir areas. Guru Nanak’s footprints, a robe and a water-carrying utensil =
(kamandal) are preserved in Lachen Gompha, Sikkim, commemorating his vis=
it to the place.
After his visit to Kailash-Mansarovar, Guru Nana=
k returned along Kali River and went to Nepal, where an ancient Gurdwara=
at Kathmandu, on the bank of river Bishnumati commemorates his visit. V=
isiting various religious places in Nepal, he crossed over to Tibet thro=
ugh Nanak-la pass and reached Sakya monastery. The earlier king of Tibet=
from Karma-pa Sect was, by then, deposed by the Ge-lug-pa sect but was =
still holding on to this monastery. Guru Nanak helped Trasung Deochung r=
econstruct this monastery. Trasung Deochung honoured him with a robe tha=
t is preserved in Lachen Gompha.
From Tibet, Guru Nanak entered S=
ikkim through Chhorten-Nyi-ma-la. Passing through Dolma Sampa and Tongpe=
n, he entered Muguthang valley where he visited Kedang, Bendu, Sherang, =
Lyingka, and Muguthang. He went through Naku la and Lawu Gompha and reac=
hed plateau area around Guru Dongmar.
In this plateau the yak gra=
zers approached Guru Nanak with a request, that: “they do not find water=
in winter as it gets frozen all over, temperature falling down to minus=
35 degrees.” The Guru (Guru Nanak) hit the perpetually snow-covered Gur=
u Dongmar Lake with his stick to provide water to the grazers. The ice m=
elted giving way to crystal clear water. Since then the water of the lak=
e is stated to never freeze. The lake and the hill feature atop came to =
be known as Gurudongmar Lake and hill respectively. The same names are f=
ound recorded in the ancient maps prepared by the British in nineteenth =
Some grazers projected another problem to Guru Nanak. Du=
e to the effect of altitude, their virility was affected. They requested=
the Guru to do something about it. Guru Nanak blessed the lake, saying,=
” Whosoever takes the water of this lake will gain virility and strength=
and will be blessed with children.” The people of the area have firm fa=
ith in Guru’s words and consider the water of the lake as nectar. A Gurd=
wara was constructed in eighties to commemorate Guru Nanak’s visit to th=
e place. We used to trek to Gurudongmar then, after traveling from Chung=
thang on foot, covering the distance in six days.
The Gurdwara wa=
s constructed after full inquiries from head lamas of Buddhist monitorie=
s (gomphas) at Fudong, Chungthang, Lachen, Lachung and Thangu and all th=
e local people, and with their active help.
From Gurudongmar, Gur=
u Nanak went to Thangu, Lachen, Chungthang, Lachung, Yumthang and Pyakoc=
hin. At Chungthang a gurdwara, a tree grown out of Guru’s stick=
, footprints of the Guru, a spring, and the rice-fields blessed by Guru =
Nanak commemorate Guru Nanak’s visit. At Pyakochin, an engraving on ston=
e, in Gurmukhi script, was earlier preserved to commemorate the visit of=
Guru Nanak. From Pyakochin the Guru is stated to have crossed over to C=
humbi Valley through Ghora-la, en-route to Bhutan.
This author cr=
osschecked the above details given by various lamas from over fifty elde=
rly people of the area. Lachen lama even promised to show the old record=
s preserved with him that had an account of Guru Nanak’s visit to the ar=
ea. Staying as an Observation Post Officer at the height adjoining the l=
ake, for over three months in 1987 and later in other areas adjoining, t=
he author oversaw the development of the Gurdwara. People from all relig=
ions thronged the lake and the Buddhists had their regular fair on the l=
ake. They always paid obeisance at the Gurdwara with reverence. There wa=
s no question of any ill will. A Hindu temple was constructed in 1989 to=
uching the Gurdwara, but was removed soon after mutual consultations. Th=
ereafter everything remained cordial till 1994, as regularly watched by =
this author, who was operative in Sikkim and remained in touch with the =
Gurdwara till then. Later too, groups of Sikh pilgrims inspired by this =
author kept on visiting the gurdwara yearly without caring for the great=
hardships they had to face during the travel. They had all the goodwill=
of the local people and have sweet remembrance of their treatment.
A Problem, however, started cropping up only after 1998. The Sikkim G=
overnment and the Army refused to allow visits by pilgrims to the Gurdwa=
ra for reasons best know to themselves, as in the telegram and the lette=
r refusing permission to the Sikh pilgrims to visit Gurudongmar. They ga=
ve no reasons! Now the sudden changes in the cultural traits of the Gurd=
wara smacks of ill intentions of some people at the helm of affairs, pla=
ying games with the faith of the people.
Read full article at http://www.sikhe.com
KOLKATA/GANGTOK: A few weeks before the first ever India-China military exercises, the real war games have begun. On November 8, Chinese forces demolished some unmanned Indian forward posts near two Army bunkers against which Beijing had raised objections since July.
“The Chinese came, destroyed the posts and went back,” said an Army officer. The incident is learned to have taken place around November 8.
The revelation came on the day a 12-member People’s Liberation Army delegation landed in Kolkata on a recce for the military exercises to be held next month in China.
The destroyed posts were near the Sikkim-Bhutan-Tibet border tri-junction. Intelligence sources in Gangtok on Friday said that a “third bunker” located near the two disputed ones had been destroyed by the Chinese. But, Army sources attached to formations overseeing the location said the structures were fibre glass huts, which are manned by a few soldiers when winter sets in.
Senior Army officers in Kolkata were tightlipped about the incident, particularly because the Chinese army delegation led by a senior colonel is in the city. “I have nothing to comment,” said a defence spokesman.
The two disputed bunkers at Doka La, near Torsa Nala, had been set up about two years ago. The Chinese first objected to them in July, after which a series of border personnel meetings took place till September. Beijing wanted the bunkers to be shifted but the Indian Army stood its ground and continued to man and arm the bunkers.
The Chinese were left smarting. It is believed the attack on the unmanned posts earlier this month were carried out by the PLA “to show their strength”.
Indian officials feel if the Chinese had any objection against these bunkers they should have lodged a protest soon after they were established, or at least within a year.
Border disputes between China and India are nothing new, because China does not recognise the border and even triggered a war over it. Even the Line of Actual Control is difficult to demarcate at places because of the mountainous terrain. Two decades ago, in 1986, the two countries had come perilously close to a skirmish in the Sumdorong Chu valley.
In view of the latest dispute, the visit of Defence Minister A K Anthony and chief of Army staff Deepak Kapoor to Sikkim and north Bengal during the weekend is being considered significant. They will land in Siliguri on Saturday and visit the border at Nathu La on Sunday.
However, military observers believe confidence-building measures like joint war exercises will prove instrumental in easing border tensions.
Gangtok, November 22: During the current financial year 2007-08, the Ministry of Tourism has released Rs. 4372 Lakhs for 18 projects (upto October, 2007) to Sikkim for development and creation of infrastructure at tourist destinations/circuits.
The details of the funds released for the projects to the Sikkim are Development of Assam Lingzey to Khedi Trek Route including other tourist infrastructure in East Sikkim Rs. 263.27 lakhs, Development of Community Park at Bojey and water Garden at Hee Pul under integrated Development of Tourism, West Sikkim Rs. 344.44 lakhs, Construction of flower show pavilion at Namchi in South Sikkim Rs 378.56 lakhs, Construction of Pony Track and other infrastructure at hanuman Tok, Tashi View point and Ganesh Tok, Gangtok, East Sikkim Rs 344.00 lakhs, Development of Car Park and meeting Hall at Samdruptse in , South Sikkim Rs 269.40 lakhs, Construction of View Tower at Abkwakhaani and Foot Trail around Gantok, East Sikkim Rs 154.50 lakhs, Construction of Tourist Heritage Centre at Tek in South Sikkim Rs 87.72 lakhs, Development of Budeg Gadi (Fort) at Central Pandam in East Sikkim Rs 166.99 lakhs, Development of Buddhist tourist circuit along Chochen Pheri, East Sikkim Rs 177.89 lakhs, Construction of interpretation hall, Meditation Hall, Reception & Tourism Amenity block, Budha Statue, Sikkim Rs 349.00 Rs lakhs, Tourist Infrastructure under Jorethang Constituency in South Sikkim Rs 262.36 lakhs, Development of Nathula-Memencho-Kupup-Gnathang Tourist Circuit in East Sikkim Rs 363.44 lakhs, Development of lake and its surrounding at Gufa Dara, Hee Bermick, West Sikkim Rs 151.96 lakhs, Construction of Indian Himalayan Centre for Adventure and Eco-Tourism at Chemchey Phase-ii in South Sikkim Rs 311.63 lakhs, Development of Trekking Route from cabi to Tamzey including high altitude trek of Damboche Jaknthang and Thanguphu in North Sikkim Rs 305.87 lakhs, Tourist Reception Centre at Rangpo in East Sikkim Rs 362.73 lakhs, Village Chunbung rural tourism Rs 39.96 lakhs and Village Tingchim rural tourism Rs 38.97 lakhs.