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Income Tax - FAQ

Posted by A24M Labels: at 5:18 pm

Here are answers to a few frequently asked questions, to help you while you file your Income Tax returns.

      1.     What is a return of income?
It is a prescribed form through which the particulars of the income earned by a person in a financial year and taxes paid on such income is communicated to the Income Tax department, after the end of the Financial Year. to know more about the form  - http://incometaxindia.gov.in/download_all.asp

      2.     Who is required to file the Tax return?
Tax filing in India is compulsory for those who earn a salary in India and his/her income, before allowing for any deduction under Chapter VIA (EPF, insurance, NSC, etc.), is more than the exemption limit of Rs 2,00,000. Please note that, unlike last year, there is no exemption from filing returns if your income is less than Rs. 5,00,000 and the conditions are met.

      3.     From where can I get a return form?
            The form can be downloaded from the site: https://incometaxindiaefiling.gov.in/index.html. If you are taking
            the help of a service provider, they will determine the return based on your income.

      4.     Which Tax Return Forms are applicable to me?
You have to choose your forms based on the assessee type and the income/losses earned.
Link - https://incometaxindiaefiling.gov.in/portal/individual_huf.do

Form
Applicable to
ITR 1
Individuals with salary/pension/income from one house property (excluding brought forward loss) and income from other sources
ITR 2
Individuals who do not have income from a business or profession                             
ITR 3
Individuals who are partners in firms and are not carrying out a business or profession under any proprietorship
ITR 4
Individuals having income from a proprietory business or profession                             
ITR V
Verification form for ITR forms transmitted electronically without digital signature.

      5.     What is the due date for Filing Income Tax Returns for FY 2012-13?
The due date to file the tax return is July 31, 2013.

      6.       What are the benefits of filing my return of income? 
Filing returns is your duty. Your IT returns validate your credit worthiness before financial institutions and make it possible for you to access financial benefits such as bank credits.

      7.     Is it mandatory to file returns and what are the consequences of failing to do so?
Filing returns is mandatory. You are liable to pay interest on the amount due. A penalty may also be levied in some cases

Heat Stroke: Symptoms & First Aid

Posted by A24M Labels: at 7:35 pm

Heat stroke occurs when the body is unable to regulate its temperature. The body's temperature rises rapidly, the sweating mechanism fails, and the body is unable to cool down. To avoid heat stroke drink cool, nonalcoholic beverages, take rest, cool shower, bath, or sponge bath, stay in An air-conditioned environment, wear lightweight clothing.

Symptoms:
Heavy sweating, Paleness, Muscle cramps, Tiredness, Weakness, Dizziness, Headache, Nausea or vomiting, Fainting.

Firsts Aid:
·         Remove the person to a shady place.
·         Cool the person by sponging with wet towel.
·         Apply ice packs.
·         Water with electrolyte, fruit / vegetable juice should be given. 
·         Victim must be rested.
Quick Home Made Remedies

Quick remedy for dry Tanned skin - Summer facial bleach

Ingredients: 4 tbsp milk, 1 tbsp honey, 2 tbsp lemon juice.
Procedure:  Mix all the ingredients and apply the mixture evenly on the tanned areas for 15 minutes. Once dried, wash with cold water. Works best for greasy and oily skin. 

Read more about : How to Stay Cool in Summer

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Stay cool in summers

Posted by A24M Labels: at 6:48 pm

The summer season is upon us and it's time to think about preventing dehydration and heat-related illness! Follow these simple remedy to avoid the heat and stay cool in Summer!

Dos & Don’ts

Drink plenty of Water

It is a key ingredient in keeping the body cool. With high humidity levels, sweat will not evaporate quickly. This prevents the body from releasing heat in an efficient manner. This is why it is necessary to hydrate and drink water, even when you are not thirsty. You may try taking it in the form of Juice, Lassi, etc.
Protect your eyes: 
Wear eye gears to protect your eyes from UV rays and during summer, Sunglasses with UV protection can help enhance the eyes to filter out the sun's damaging rays. eyes are very prone to infections.
Stay indoors:
The thumb rule to avoiding sunstroke is to avoid exposure to the sun when it is at its zenith. Stay indoors during the hottest part of the day during the summer and avoid outdoor activities in direct sunlight or on hot asphalt surfaces. Spending more time in properly ventilated or air-conditioned place decreases the risk of heat-related illnesses. Do not suddenly go out into the sun from an air-conditioned room or vice-versa.
Take Rest: 
Rest frequently and avoid overexerting yourself. It you feel tired or over-heated, take a nap.
Clothing:
Dress for the heat by wearing loose-fitting clothes, preferably of a light color like white instead of dark-colored clothing. The dark clothing attracts the heat and will leave you hot and steamy. Cotton clothing will keep you cooler than many synthetics. Use a hat to protect your head from the sun when you go out.
Eat light, nutritious and non-fatty meals:
Reduce intake of heat generating vegetables and fruits. Include lots of fruits and vegetables in the form of salads and fresh juices, preferably without sugar, in your diet. Cut the intake of fried foods like vadas, samosas, chips, bhajias, and farsans. Fat has a thermal effect.
Maintain good hygiene

During summer we tend to sweat a lot, hence maintain proper cleanliness and good hygiene. 
Enjoy water-based activities:

Indulge in activities such as swimming, playing in the sprinklers and having a water balloon fight.  The water will cool you off quickly.
            Read more about : HeatStroke: Symptoms & First Aid

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