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Friday, May 26, 2017

Income tax for Individuals for the Annual Year 2018-19(Financial year 2017-18) and Eligible deductions

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How Income Tax is charged in India?

Income tax in India is charged based on one’s income, more the income more the tax. India has four  income slabs or groups.Tax slabs keep on changing from year to year. Over and above tax, surcharge and education cess is also charged.  These are announced in budget by the Finance Minister every year.

Income tax for Individuals for the Annual Year 2018-19(Financial year 2017-18)

New Income Tax Slabs for FY 2017-18 (AY 2018-19) have been provided based on the Finance Budget introduced by the Hon’ble Finance Minister on February 01, 2017. 

While the income tax slabs have been kept unchanged, some interesting changes have been made which will have an impact on the tax liability of Individuals.
Individuals Below 60 Yrs – Income Tax Slab 2017-18 (AY 2018-19)

Income Tax SlabIncome Tax Rate
Income upto Rs. 2,50,000Nil
Income between Rs. 2,50,001 – Rs. 500,0005% of Income exceeding Rs. 2,50,000
Income between Rs. 500,001 – Rs. 10,00,000Rs. 12,500 + 20% of the amount by which the taxable income exceeds Rs. 5,00,000
Income above Rs. 10,00,000Rs. 1,12,500 + 30% of the amount by which the taxable income exceeds Rs. 10,00,000
Surcharge :
  • 10% of the Income Tax, where taxable income is more than Rs. 50 lacs and upto Rs. 1 crore. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 50 lacs by more than the amount of increase in taxable income.
  • 15% of the Income Tax, where taxable income is more than Rs. 1 crore. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 1 crore by more than the amount of increase in taxable income.
Education Cess : 3% of the total of Income Tax and Surcharge.

Income Tax Rebate Reduced

The income tax rebate continues but it is reduced now. The income tax rebate came down to 2,500. Last year it was ₹5000. Not only the reduction, the threshold for this rebate also came down. Now, the income upto 3.5 lacs is eligible for this rebate. Earlier, income upto ₹5 lac was eligible for the income tax rebate.
Because of this provision, those who earns up to Rs 3 lacs are not required to pay any tax. Rather, if a person uses the all available deductions, the income up to Rs 5 lacs can become tax-free.
Senior Citizens (60-80 yrs) : Income Tax Slab 2017-18 (AY 2018-19)

To avail the benefit of senior citizen’s income  tax slab of 2017-18, one should be born on or after 1st April 1937 but before 1st April 1957. These dates are applicable for the income tax slab rate of the financial year 2017-18.

Income Tax SlabIncome Tax Rate
Income upto Rs. 3,00,000Nil
Income between Rs. 3,00,001 – Rs. 500,0005% of Income exceeding Rs. 3,00,000
Income between Rs. 500,001 – Rs. 10,00,000Rs. 20,000 + 20% of the amount by which the taxable income exceeds Rs. 5,00,000
Income above Rs. 10,00,000Rs. 1,20,000 + 30% of the amount by which the taxable income exceeds Rs. 10,00,000

Education Cess

Senior citizens are also required to pay education cess similar to other individuals. The 3% cess is charged on the income tax of senior citizens. Due to this the effective income tax slab rate increases.

Super Senior Citizens ( above 80 yrs) : Income Tax Slab 2017-18 (AY 2018-19)

The senior citizens of above the age of 80 gets maximum tax concession from the government. They get this concession considering increased medical and healthcare expenses.
To get the benefit of this income tax slab rate, one should be born before 1st April 1937.
Income Tax SlabIncome Tax Rate
Income upto Rs. 5,00,000Nil
Income between Rs. 500,001 – Rs. 10,00,00020% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000Rs. 100,000/- + 30% of the amount by which the taxable income exceeds Rs. 10,00,000/-.

Any NRI or HUF or AOP or BOI or AJP

Income Tax :
Income SlabsTax Rates
i.Where the taxable income does not exceed Rs. 2,50,000/-.NIL
ii.Where the taxable income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-.5% of amount by which the taxable income exceeds Rs. 2,50,000/-.
iii.Where the taxable income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.Rs. 12,500/- + 20% of the amount by which the taxable income exceeds Rs. 5,00,000/-.
iv.Where the taxable income exceeds Rs. 10,00,000/-.Rs. 112,500/- + 30% of the amount by which the taxable income exceeds Rs. 10,00,000/-.
  

List of Income Tax Exemptions FY 2017-18 / AY 2018-19 (Chapter VI-A deductions list)

Income tax deductions list Income tax exemptions tax benefits Fy 2017-18 AY 2018-19 Section 80c limit 80D 80E NPS Home loan interest loss

For full details of Income Tax exemptions click the following link:

Sources:

To know about Income tax for Individuals for the Annual Year 2017-18(Financial year 2016-17) and Eligible deductions click the link given below

Saturday, April 15, 2017

Autism spectrum disorder

Image result for types of autism
Autism(Autism spectrum disorder (ASD) is a neurodevelopmental disorder characterized by impaired social interactionverbal and non-verbal communication, and restricted and repetitive behavior. 
Autism spectrum disorder (ASD) and autism are both general terms for a group of complex disorders of brain development.
Parents usually notice signs in the first two years of their child's life. These signs often develop gradually, though some children with autism reach their developmental milestones at a normal pace and then regress. The diagnostic criteria require that symptoms become apparent in early childhood, typically before age three.
Autism’s most-obvious signs tend to appear between 2 and 3 years of age. In some cases, it can be diagnosed as early as 18 months. Some developmental delays associated with autism can be identified and addressed even earlier. Autism Speaks urges parents with concerns to seek evaluation without delay, as early intervention can improve outcomes.
Types of ASD
There are three different types of Autism Spectrum Disorders:
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  • Autistic Disorder (also called "classic" autism)This is what most people think of when hearing the word "autism."  People with autistic disorder usually have significant language delays, social and communication challenges, and unusual behaviors and interests. Many people with autistic disorder also have intellectual disability.
  • Asperger SyndromePeople with Asperger syndrome usually have some milder symptoms of autistic disorder.  They might have social challenges and unusual behaviors and interests.  However, they typically do not have problems with language or intellectual disability.
  • Pervasive Developmental Disorder – Not Otherwise Specified (PDD-NOS; also called "atypical autism")People who meet some of the criteria for autistic disorder or Asperger syndrome, but not all, may be diagnosed with PDD-NOS. People with PDD-NOS usually have fewer and milder symptoms than those with autistic disorder.  The symptoms might cause only social and communication challenges.
Signs and Symptoms of autism
ASDs begin before the age of 3 and last throughout a person's life, although symptoms may improve over time. Some children with an ASD show hints of future problems within the first few months of life. In others, symptoms might not show up until 24 months or later. Some children with an ASD seem to develop normally until around 18 to 24 months of age and then they stop gaining new skills, or they lose the skills they once had.
A person with an ASD might:
  • Not respond to their name by 12 months
  • Not point at objects to show interest (point at an airplane flying over) by 14 months
  • Not play "pretend" games (pretend to "feed" a doll) by 18 months
  • Avoid eye contact and want to be alone
  • Have trouble understanding other people's feelings or talking about their own feelings
  • Have delayed speech and language skills
  • Repeat words or phrases over and over (echolalia)
  • Give unrelated answers to questions
  • Get upset by minor changes
  • Have obsessive interests
  • Flap their hands, rock their body, or spin in circles
  • Have unusual reactions to the way things sound, smell, taste, look, or feel
Causes of Autism:
Autism is due to a combination of genetic and environmental factors. Some cases are strongly associated with certain infections during pregnancy including rubella and use of alcohol or cocaine. 
Controversies surround other proposed environmental causes; for example, the vaccine hypotheses, which have since been disproven. 
Autism affects information processing in the brain by altering how nerve cells and their synapses connect and organize; how this occurs is not well understood.
Is there any medical cure for Autism?
We know that autism is a complex, neurological, developmental disorder, which affects the way the brain processes information, the cause of which is still unknown. Since we do not know what causes autism, we do not have a way to fix (cure) it.
At present, there is no cure for autism: there is no medication, no pills, no injections which can make the autism go away. Of course, as a parent you may read or hear about many claims of cures for autism. This may be more so in the last few years with the emergence of the internet as a 'bazaar' spreading some truly bizarre promises of cure. Being an invisible condition, it is easy for parents to be swayed to the 'right treatment' that would make their child's autism somehow 'go away'. 
Treatments for Autism:

Autism is not an illness that can be treated or 'fixed'. Instead, as mentioned earlier, it is a neurological condition, wherein one needs to teach the individual to reach his/her maximum potential using intervention and management strategies that would work most effectively with their unique learning style.
The most effective and well-documented intervention or management option for individuals with autism is a structured behavioural training programme. This intervention is based on understanding the unique learning styles of individuals with autism, making accommodations for the same, and using and adapting behavioural principles to teach.
The focus needs to remain at all times on the core areas of difficulty, i.e. communication and social understanding. Teaching appropriate play and leisure skills, and self-help skills, are equally important. Autistic children can make significant progress if the intervention is appropriate and consistent and hence, a combination of a good school and parent training is the best intervention strategy.
Early intervention, before the child is five, is especially crucial to the child's progress. This is why an early and accurate diagnosis is so important. Autistic children grow to become autistic adults, and there is a particular need for focus on teaching every skill to independence, and to provide meaningful outlets for social interaction and employment where possible.
Some of the scientifically proven effective intervention techniques include:
Treatment and Education of Autistic and related Communication handicapped CHildren Method (TEACCH) emphasizes on using skills that children already possess to enable them to become independent. Organizing the physical environment, developing schedules and work systems, making expectations clear and explicit, and visual materials are effective in developing skills and allowing people with autism to be independent of direct adult prompting.
Applied Behaviour Analysis (ABA) emphasizes on one-to-one sessions in discrete trial training (DTT) to develop cognitive, social, behavioral, fine motor, play, social and self-help skills. The technique involves structured presentation of tasks from most simple to more complex, breaking them down into small sub-skills, and then teaching each sub-skill intensely, one at a time. It involves repeated practices with prompting and fading of prompts to ensure success. It uses rewards or reinforcement to help shape and maintain desired behaviours and skills.
Verbal Behavior Analysis (VBA) is an addition to ABA and is also based on breaking down and teaching language in functional units unlike the teaching of language based on grammar. In addition to teaching at the table, teaching in (and with) the natural environment (NET) is important.
Picture Exchange Communication Systems (PECS) is built on the fact that non-verbal children with autism may attempt to spontaneously use objects to communicate. 
Image result for autistic child
People with autism tend to be visual learners, and a visual means of communication can help them to understand and use the process of communication. PECS aims to teach spontaneous social-communication skills by means of symbols or pictures and the teaching relies on behavioural principles, particularly reinforcement techniques. Behavioural strategies are employed to teach the person to use functional communicative behaviours to request desired objects. The requesting behaviour is reinforced by the receipt of the desired item.
All people with autism can and do make significant progress. They become more responsive to others as they learn to understand the world around them if the intervention that they receive is appropriate, consistent and autism friendly.
Can Autistic Children attend regular schools:
There are a number of autistic children who have been integrated into regular schools. The chances depend on several factors. The most important are the individual capacity and functioning levels of the child, how early diagnosis was received, and thereafter the kind and the appropriateness of the early intervention provided to the child.
Though some children with autism can learn like their typically developing peers, most have different learning styles and the therefore teaching styles also need to be different. Most children with autism may require some accommodations in the teaching style/ environment for them to be able to learn better and to keep the schooling a positive experience. Sometimes simple changes in existing classroom techniques and environmental adaptations make teaching autism-friendly. However, in some schools this may not be understood and therefore children with autism face difficulties and many may have to drop out of mainstream classrooms after grades four or five.
Organizations that cater to the needs of children and adults on the autism spectrum:
There are several organisations all over the world who are taking care the needs of children and adults on the austism spectrum. In India there are 22 such organisations located in major cities. From speech therapy to music therapy, these organizations are using various methods to bring a behavioural change and are doing some amazing work in this field.
I give below the link for the site listing out the organisations
Donate to the Organisations which help autistic children
We can donate to various organisations which help autistic children in different ways. Such  donations are tax deductible.
Sources:
Pictures: Google images

Thursday, April 6, 2017

Top 10 Amazing bridges in world


The world’s most famous bridges may not be the longest bridges, tallest bridges or highest bridges, but they are the most recognizable bridges in the world by far.You can now  take a tour through the ancient spans, iconic structures and bridges with unique and interesting features.

Here are the top 10 most famous bridges:

1. Tower Bridge,London, England.

Bridge
Tower Bridge (built 1886–1894) is a combined bascule and suspension bridge in London which crosses the River Thames. It is close to the Tower of London, from which it takes its name, and has become an iconic symbol of London.
The bridge consists of two towers tied together at the upper level by means of two horizontal walkways, designed to withstand the horizontal forces exerted by the suspended sections of the bridge on the landward sides of the towers. The vertical component of the forces in the suspended sections and the vertical reactions of the two walkways are carried by the two robust towers. The bascule pivots and operating machinery are housed in the base of each tower. The bridge's present colour scheme dates from 1977, when it was painted red, white and blue for Queen Elizabeth II's silver jubilee. Originally it was painted a mid greenish-blue colour.
Source and for other details:http://en.wikipedia.org/wiki/Tower_Bridge

2. Golden Gate Bridge,San Francisco

Gold
The Golden Gate Bridge is a suspension bridge spanning the Golden Gate, the opening of the San Francisco Bay into the Pacific Ocean. The structure links the U.S. city of San Francisco, on the northern tip of the San Francisco Peninsula, to Marin County. It is one of the most internationally recognized symbols of San Francisco, California, and the United States. It has been declared one of the Wonders of the Modern World by the American Society of Civil Engineers. 

The Frommers travel guide considers the Golden Gate Bridge "possibly the most beautiful, certainly the most photographed, bridge in the world".


Source and for other details: http://en.wikipedia.org/wiki/Golden_Gate_Bridge

3. Brooklyn Bridge,New York City

Brooklyn
The Brooklyn Bridge looms majestically over New York City's East River, linking the two boroughs of Manhattan and Brooklyn. Since 1883, its granite towers and steel cables have offered a safe and scenic passage to millions of commuters and tourists, trains and bicycles, pushcarts and cars. The bridge's construction took 14 years, involved 600 workers and cost $15 million (more than $320 million in today's dollars). At least two dozen people died in the process, including its original designer. Now more than 125 years old, this iconic feature of the New York City skyline still carries roughly 150,000 vehicles and pedestrians every day.
Source and for other details:http://www.history.com/topics/brooklyn-bridge

4.The Wind & Rain bridge,China

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Chengyang Wind and Rain Bridge, also called Yongji Bridge or Panlong Bridge, spans the Linxi River of Sanjiang County. Built in 1916, it is 64.4 meters (73.43 yards) long, 3.4 metes (3.72 yards) wide and 10.6 meters (34.78 feet) high. Constructed with wood and stones, its surface is paved with wooden boards and both sides are inlayed with railings. On the bridge itself, there are five tower-like kiosks with 'horns' and eaves which resemble the flapping wings of birds.

Dong Village near the bridge
To one's surprise, the builders of this bridge did not use any nails or rivets. Instead, talented Dong people dove-tailed many pieces of wood. Though several decades old, it is still very sturdy. In a word, it is grand and looks like a brilliant rainbow crossing over the river.
Walking out onto the bridge, you can sit on the bench and appreciate the picturesque scenery. Looking far ahead, you will be intoxicated with what you see: the Linxi River meandering from the horizon; tea trees growing on the hills; local peasants working hard in the fields; and waterwheels turning, sending water cascading down the river.
Source and for other details:

5.Ponte Vecchio,Florence,Italy

florence
The Ponte Vecchio (Old Bridge) is a medieval bridge spanning the river Arno in Florence. It is one of the few remaining bridges with houses built upon. The Vasari corridor that runs over the houses connects the Uffizi with the Pitti Palaceon the other side of the river.

The pedestrian bridge is often teeming with tourists and the many musicians, portraitists and other entertainers create a constantly vibrant atmosphere. The bridge is at its most beautiful at dusk, especially when seen from the Ponte Santa Trinità.

Shops on the Ponte Vecchio in Florence


                                        Shops on the Ponte Vecchio

The Ponte Vecchio is the oldest bridge in Florence. It is believed that a bridge already existed here during the Roman times. Its current appearance dates back to 1345 when it was built to replace a bridge which was destroyed by a flood. Houses were built on the bridge, a common practice in large European cities during the Middle Ages.




The Ponte Vecchio was the only bridge in Florence that survived the Second World War unscathed.

Source and other details:
http://www.aviewoncities.com/florence/pontevecchio.htm

6. Covered Bridges ("The Kissing Bridge"),Ontario, Canada

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The West Montrose covered bridge is recognized as a historic site by Ontario's Archeological & Historic Sites Board. It is Ontario's last remaining covered bridge and has a 198' span across the Grand River. Visitors come from all over the world to see and photograph this picturesque bridge.

The roof over the bridge served to protect the large timbers and trusses from the elements, and this is also the reason the bridge is still standing after more than 100 years. Uncovered wooden bridges have a life span of only 10 to 15 years because exposure to rain causes unprotected joints to rot in summer and freeze in the winter; the hot sun causes the wooden planks to dry and curl. Applying oil and tar to preserve the floor made the surface slippery when wet. 

Horses fear rushing water and would often become spooked as they approached bridges. A horse will trot up to the opening of a covered bridge and clip-clop through, reassured by the side walls and the light at the end of the tunnel.

The bridge was built in 1881 and underwent major repairs in 1999. Light traffic is still crossing the bridge daily including horse and buggies. 

The bridge is often referred to as "The Kissing Bridge" because it is enclosed and the soft light provides a feeling of intimacy for the romantic.

7. Glenfinnan Viaduct, Glenfinnan, Scotland
Top 10 bridges around the world
Fans of the Harry Potter films will recognize this as the railway viaduct that the Hogwarts Express chugs across. It's not the only film to feature it. It 'starred' in Charlotte Gray, Monarch of the Glen, Stone of Destiny and Ring of Bright Water too. 

Built by Sir Robert McAlpine at the end of the 19th century, the viaduct is composed of 21 arches, each spanning 15 metres and has a maximum height of 30 metres offering sumptuous views down to Loch Shiel below. The railway viaduct is on the West Highland Line in Glenfinnan, Lochaber in the Highlands and a round-trip ticket, between mid-May and the end of October, will set you back 32 pounds (around $50).
8. Si-o-se Pol, Isfahan, Iran
Top 10 bridges around the world


Si-o-se Pol, which means the Bridge of 33 Arches, has stood in Isfahan, Iran, since the 17th century. Spanning the river Zayandeh Rud, it's one of 11 bridges in Isfahan. It's one of the most famous examples of Safavid bridge design although Khadjou Bridge is considered to be more beautiful. 

There are two rows of 33 arches and its yellow brick and limestone masonry give it that buttery softness that, when the sun hits, makes it appear to melt into the river. It's a charming bridge of alcoves, where you can sit and admire the view. Or, in the tea house, sip cups of steaming tea.
9. Teufelsbrucke, Switzerland

Top 10 bridges around the world

This is the bridge that was built by the devil. Or so it is said. The story goes that the devil built the bridge and in exchange for his engineering and construction skills, he'd receive the first soul to cross it. The canny villagers sent a goat instead of a person, and, enraged by this, the devil tried to destroy his newly constructed bridge by throwing a boulder (the Teufelsstein, the devil's stone) at it. 

However, catching sight of an old woman carrying a cross, he took fright and ran away, dropping the stone as he went. Myths aside, the Teufelsbrucke spans the Reuss River high up in the Swiss mountains in the canton of Uri. It provides access to the St. Gotthard Pass. The bridge that is in use now is actually the third bridge. The first bridge (wooden and built by the devil) was built in 1230 and the second (built in the 1820s) is located close to this 'new' (1950s) concrete bridge.

10.Pont Alexandre III, Paris, France



Pont Neuf is Paris's oldest bridge - and one of its most famous - but the Pont Alexandre III is the most extravagant and highly decorated bridge on the Seine. This arch bridge (connecting the Champs-Elysees quarter with the Invalides and Eiffel Tower quarters) was built for the Universal Exposition of 1900, the great world's fair. 

Russia's Tsar Nicholas II lay the first brick (it was at a time when France was courting Russia as an ally) and it was named after the Tsar's father Alexander III. This historic monument is studded with gilded-bronze winged horses, compositions in copper that represent the nymphs of the Seine (the nymphs of the Neva in Saint Petersburg are represented downstream) and ornate lamp posts (candelabras really) that are adorned with cherubs.