'I just want to live like a TV': Please Pay attention

From T h e     V e d a n t a     K e s a r i 

J U L Y     2 0 1 0  

One day a teacher of a primary school asked her students to write an essay about what they would like God to do for them. Later in the evening while going through those essays at home, she came across one that moved her much. Her husband, who just walked in, enquired: 'What happened?' Handing over a sheet of paper, she answered,
'Read this. It's an essay by one of my students.' The husband read the following essay, titled, 'I just want to live like a TV':
Oh God, tonight I ask you something very special: Make me into a television. I want to take its place. I want to live like the TV in my house.
Have my own special place and have my family around ME. To be taken seriously when I talk . . .
I want to be the centre of attention and be heard without interruptions or questions.
I want to receive the same special care that the TV receives even when it is not working. Have the company of my dad when he arrives home from work, even when he is tired. And I want my mom to want me when she is sad and upset, instead of ignoring me... And . . . I want my brothers to fight to be with me . . .
I want to feel that family leaves everything aside, every now and then, just to spend some
time with me.
And last, but not the least, make it that I can make them all happy and entertain them. Lord I don't ask you for much . . . I just want to live like a TV.'
Having finished reading the essay, the husband gravely remarked: ‘My God, poor kid.
What horrible parents!’ Tears rolling down her cheek, she looked up at him and calmly said: ‘That essay is written by our son!!’                                          —Cyberspace

Militants 'sneak' into Shillong, alert sounded

Published: Friday, Aug 13, 2010, 21:32 IST | Updated: Friday, Aug 13, 2010, 21:34 IST 

Place: Shillong | Agency: PTIThe police are on high alert following information that a group of militants of the banned Hynniewtrep National Liberation Council (HNLC) have sneaked into Meghalaya to carry out subversive acts.

State home minister HDR Lyngdoh said that the police have specific inputs about the intrusion of some militants into the capital city from Bangladesh.

"They are planning to strike at crowded places. But the police are on high alert. All precautionary measures have been taken to thwart any subversive attempt," Lyngdoh said.

A massive security blanket has been spread across the state, particularly in the capital city, while the BSF has launched Operation Bharosa along the international border to prevent ingress of militants.

"We have intensified patrolling and are presently conducting combing operations in the outskirts of Shillong and other places where we feel the so-called HNLC cadres may take refuge," East Khasi Hills SP AR Mawthoh had said yesterday.

BSF sources said extra forces have been moved to the international border to strengthen vigil.

Mahesh Bhatt, Kuldip Nayar to light peace candles at Wagah

From ThaiIndian.com

Sat Aug 14 2010 11:50:08 GMT+0530 (India Standard Time) by IANS

More at : Mahesh Bhatt, Kuldip Nayar to light peace candles at Wagah http://www.thaindian.com/newsportal/south-asia/mahesh-bhatt-kuldip-nayar-to-light-peace-candles-at-wagah_100412042.html#ixzz0waWDISqcChandigarh, Aug 14 (IANS) Bollwood film producer Mahesh Bhatt, noted journalist-writer Kuldeep Nayar and many social activists will light peace candles at the Attari-Wagah border and exchange sweets with people from the Pakistani side Saturday night. The Border Security Force (BSF) has made elaborate security arrangements at the border post, an official said.
The BSF said it will beef up security at the Attari-Wagah joint land border checkpost between India and Pakistan to ensure smooth Independence Day celebrations there Saturday midnight.
“We have made fool-proof security arrangements and also increased the patrolling in the wake of Independence Day celebrations,” BSF Deputy Inspector General (intelligence) and official spokesperson Pankaj told IANS.
“Prominent personalities like Mahesh Bhatt and Kuldeep Nayar will go the border at around 11.45 p.m. We expect 40-50 people to accompany them,” he said.
“They will light candles on the border, exchange sweets and words with people, who will come on the other side of the border. Today (Saturday) is Pakistan’s independence day so the Pakistani Rangers have also sent sweets for us,” he said.
Mahesh Bhatt and Kuldeep Nayar have been lighting peace candles at the border on every Independence Day for the last few years.
The BSF guards the nearly 553-km long fenced international border in Punjab.

India to Test Agni II Missile Next Month

From army-technology.com
13 August 2010

India's new nuclear missile, the Agni II, will be tested in September from Wheeler Island, off the Orissa coast in India.

The Defence Research and Development Organisation (DRDO)-developed Agni II has two stages, powered by solid propellants.

The missile is capable of carrying nuclear warheads, which are protected from intense heat when the missile re-enters the atmosphere using re-entry technology developed by the DRDO.

The speed of the missile ranges between 2,750km and 3,000km and fills the gap between the Agni II (2,500km) and Agni III (3,500 km) missiles.

Agni I is a single-stage missile that can hit enemy targets from a distance of 700km.

Mistakes at workplace? How to correct and move on

From The Economic Times

TNN  Experts say that the trouble is in not making mistakes, but in not accepting them and knowing how to deal with them. In a professional setting, people are more focused on covering up their mistakes so as to protect their jobs.  HR, however , plays a major part in the kind of attitude that an employee adopts in the acceptance of his/her mistake and how they go about working on correcting it so that the employee can learn and move ahead.  “HR can motivate employees by creating an environment that reinforces confidence, trust and satisfaction ; if this is prevalent in the work culture , it is observed that the employees are not afraid to accept their mistakes. The work culture should inspire self-assurance in the employees. To let them know that even if they make mistakes they will not be penalised and infact, will be helped towards not making such an error is vital,” says Ruth Singh, head – HR, Emkay Global Financial Services Ltd.

Forgetting and letting go off mistakes becomes problematic

When you are working in a professional setting, forgetting and letting go off mistakes becomes problematic, which in turn, also leads to employee engagement problems.  “The environment in the office should be relaxed so that an employee feels safe. Only in such an environment can he/she own up their mistakes to their immediate supervisor or any other supervisor in that case. They should be able to share a relationship with the supervisor based on trust and faith, so that they can admit the mistake without any fear in their minds. HR in an organisation should understand that a relaxed environment makes a person feel more comfortable and gives them a sense of belonging towards the organisation,” says Poonam Singh, HR manager, Neev Group of Companies .

Leadership and communication skills play a major role

For an HR manager, it is always a tricky situation as to the amount of freedom they can afford to give to the employee to make a mistake. It becomes a dual task to ensure employee satisfaction and also keep in mind the organisation’s goal structure, so as not to let the employee make a mistake big enough to interrupt with the same.  “It is the onus of the HR department of an organisation to foster a culture whereby employees not only confess their mistakes, but also take lessons from them. Leadership and communication skills play a major role here. Those in the leading positions need to be trained to handle such tricky situations. When a subordinate opens up to his/her senior, in a quest to confess a mistake, the senior needs to determine the future actions and behaviour of the employee. Appreciation for owning up the mistake should be followed by encouraging the employee to think how such a situation can be avoided in the future,” says Ruth Singh.

It is important to realise and leave room for mistakes

Considering the high-pressure jobs that most people have, it is important to realise and leave room for mistakes, a buffer of sorts. This will help in increasing the productivity per employee and in turn, make the investment in human resources maintenance lesser for the organisation.  “HR can make necessary efforts from their side to bridge the distance between the supervisor and subordinates. They can arrange meetings , training and workshops as an effort to dissolve the distance between the two. Mistakes are our teachers and accepting them and learning from them help us to progress in life,” concludes Poonam Singh.

Border Security Force personnel rehearse for Independence Day parade

(BSF) Border Security force personnel participate in a rehearsal for an Independence Day parade at Bakshi stadium in Srinagar on August 13, 2010.

added: 2010-08-13 07:40:54.64

(BSF) Border Security force personnel participate in a rehearsal for an Independence Day parade at Bakshi stadium in Srinagar on August 13, 2010.

From World News

Northeast under high alert, night trains cancelled

Friday August 13, 2010

A high security alert was sounded on Friday across the northeast ahead of the Independence Day, and authorities cancelled all night trains through Assam in view of militants' threats to blow up vital installations and railway tracks.

"A state of high alert was sounded across Assam with security forces deployed in strength following intelligence inputs of militants planning violent strikes ahead of August 15 to make their presence felt," officiating Assam Chief Minister, Mr Bhumidhar Barman, told IANS.

The Northeast frontier railway announced cancellation of all night trains through Assam from Saturday evening until August 17, citing security reasons.

"We have decided to cancel 26 long-distance trains running in Assam at night and suspend or terminate 26 more in view of the Independence Day," NEF Railway spokesperson, Mr S. Hajong, told IANS.

The restrictions would come into effect from 6 pm on Saturday and remain in force till 5 am of August 17.

"The cancellation of night trains in Assam follows intelligence inputs of militant groups planning to blow up rail tracks or passenger trains as a show of strength ahead of August 15," a senior Assam Police official said.

Five guerrilla groups in India's northeast called a 17-hour general strike on Sunday to boycott Independence Day celebrations.

These militant groups include the United Liberation Front of Asom (ULFA), the National Democratic Front of Bodoland (NDFB), the Kamatapur Liberation Organisation (KLO), fighting for a separate homeland comprising parts of Assam and West Bengal, the Manipur People's Liberation Front (MPLF) — an umbrella group of several Manipuri rebel groups, and the Tripura People's Democratic Front (TPDF).

These groups are active in Assam, Manipur and Tripura. As part of their boycott call August 15, the militant groups have called for a general strike from 1.30 am to 6.30 pm on Sunday.

Militant groups in the northeast have for years boycotted national events to protest New Delhi's rule over the region.

Meanwhile, security forces have been put on maximum alert across the region to thwart possible rebel strikes.

"The Border Security Force (BSF) has been put on maximum alert across the Bangladesh border. Additional paramilitary troopers and state security personnel have been deployed in sensitive and important locations to thwart possible strikes by extremists," a BSF spokesman told IANS.

Paramilitary personnel, accompanied by bomb disposal quads and dog squads, launched search operations at airports, hotels, bus terminals, major markets and national highways, Tripura police spokesman Nepal Das said.

 

नव आरक्षक बीएसएफ में शामिल

शुक्रवार,13 अगस्त, 2010 को 04:49 तक के समाचार

जोधपुर. आतंकवादियों से लड़ने और हर परिस्थिति से निपटने की शपथ लेकर जोधपुर स्थित बीएसएफ ट्रेनिंग सेंटर में प्रशिक्षण हासिल करने वाले 143 नव आरक्षक गुरुवार को बीएसएफ में शामिल हो गए। दीक्षांत समारोह में बीएसएफ के स्पेशल डीजी आरके मेडेरकर ने उन्हें निष्ठा की शपथ दिलाई।

उन्होंने कहा कि बीएसएफ बेड़े में शामिल होने के साथ ही नव आरक्षकों को विषम परिस्थितियों में देश की सीमाओं की रक्षा और आंतरिक सुरक्षा व नक्सलवाद जैसी अनेक चुनौतियों का सामना करना पड़ेगा। उन्होंने उम्मीद जताई कि नव आरक्षक हर मानदंड पर खरे उतरेंगे। डीजी ने कहा कि देश के उत्तर-पूर्वी राज्यों, जम्मू-कश्मीर, झारखंड व छत्तीसगढ़ में नक्सलवाद, उग्रवाद और अलगाववाद विकास के रास्ते में बाधक बने हुए हैं।

उन्होंने विश्वास जताया कि नव आरक्षक हर परिस्थति से बखूबी निपटेंगे और मानवीय मूल्यों की रक्षा करेंगे। इस अवसर पर शानदार परेड का आयोजन किया गया। डीजी मेडेरकर ने परेड का निरीक्षण करने के बाद सलामी ली। सहायक प्रशिक्षण केंद्र बीएसएफ के डीआईजी संपतसिंह जोधा ने ट्रेनिंग सेंटर की गतिविधियों की जानकारी दी तथा आभार व्यक्त किया। परेड के बाद टैटू शो का भी आयोजन किया गया। इस अवसर पर बीएसएफ के आईजी केएल मीणा, डीआईजी आरसी ध्यानी सहित बीएसएफ के सभी अधिकारी मौजूद थे।

Are Mutual Funds Safe?

From Outlook Money

Although they come without any explicit guarantee of capital protection, mutual funds can give the investor peace of mind

Every investor wants to protect his capital and aims for a reasonable return on his investments. The question, then, is: do mutual funds (MFs) meet these criteria? Being subject to market risks, MFs do not guarantee capital preservation. However, there are plenty of safeguards built into the system to protect the interests of investors and their money. Let’s take a look at some such features.

The Safeguards

Structural Safeguards. The capital market regulator, Securities and Exchange Board of India (Sebi), which regulates MFs, is a critical entity in protecting investor interest, be it by drafting regulations or monitoring their implementation. It has laid down guidelines for all constituents of an MF, like sponsors, trusts, asset management companies (AMCs) and custodians.

Mutual funds provide the benefit of diversification that helps minimise the impact of volatility

Regulations pertaining to sponsors and trustees are crucial to protecting investor interest. For instance, to be the sponsor of an MF—the sponsor of an MF is what a promoter is to a company—one needs to have at least five years of experience in the financial services business, three of which should have been profitable. This ensures a minimum track record for the sponsor, whose expertise should give investors comfort.

The board of trustees, which is set up by the sponsor, also aims to protect investor interest. At least two-thirds of the directors on the board are required to be independent. This helps in maintaining an independent stance, albeit slightly tilted in favour of investors. Trustees also monitor fund performance and compliance with Sebi regulations. The trust holds the investors’ money in fiduciary capacity. The Sebi MF regulations, 1996, give the trustees immense power. In case of continuous underperformance and unethical practices, trustees can even dismiss the AMC.

Regulatory safeguards. Sebi’s investment guidelines add another layer of protection. For instance, an equity MF scheme cannot account for more than 10 per cent of a company’s paid-up capital. Similarly, a debt scheme cannot invest more than 10 per cent of its corpus in unrated debt instruments issued by a single issuer, and the total investment in such instruments cannot exceed 25 per cent of the scheme’s net asset value (NAV). These stipulations go quite some way in making the investments more secure. Besides, Sebi has introduced a slew of changes over the last two years, which includes making the Scheme Information Document available to the investor. Also, scheme-related documents now provide detailed information on fund policies, risks, trustees and operations. Some other changes that Sebi wants to introduce aim to bring in standardisation and transparency in disclosures by MFs. Apart from these in-built structural and regulatory features for safety of investments, there are three other aspects reinforcing this effect.

Benefits Of Diversification

MFs provide the benefits of diversification that help any investment to minimise the impact of volatility and earnings risk as opposed to investing in individual securities. One can diversify across asset classes—equity or debt—and across companies and sectors.

Wide product range

You can invest in MFs according to your risk appetite. If you are risk-averse, you may go in for debt funds or a combination of debt and equity, such as monthly income plans and balanced funds. Those willing to take risk for the sake of greater returns may go for mid-cap or sectoral funds.

Risk management

Apart from the benefits of diversification and a wide product range, MFs have another safety feature. Each AMC has its own internal risk management teams comprising risk analysts, who monitor risks and keep them in check.

To sum it up, an investor who is well-informed about product features can look forward to investing in MFs with confidence.

Infrastructure Bonds: Bond With The Best?

From Outlook Money

Are infrastructure bonds worth the hoopla?

SUNIL DHAWAN

Since the finance minister mentioned of infrastructure bonds in his 2010 Budget speech in March, the investing space has been abuzz with speculation. Last week, the finance ministry allowed Industrial Finance Corporation of India, Life Insurance Corporation of India, Infrastructure Development Finance Company or any other non-banking finance company which is an infrastructure company to issue these bonds in the financial year 2010-11.
Tax savings. Long-term infrastructure bonds would have a maximum investment limit of Rs 20,000 per investor and it would come with a tax benefit under Section 80 CCF. This deduction would be over and above the limit of Rs 1 lakh under Section 80C. For those paying 10.3, 20.6 or 30.9 percent tax, the extra savings on tax on investment of Rs 20,000 would be Rs 2,060, Rs 4,120 or Rs 6,180, respectively. The bonds would be for a term of 10 years with a lock-in of five years.
Return. The interest rate would be fixed as per the yield of the government security of the same maturity at the time of issuing of these bonds. The interest would, in all probability, be taxable in the hands of the investor in the year of receipt although such specification would be disclosed by individual issuer of such bonds.
Should one invest? For those who have utilised the Section 80C benefit, any investment in these bonds saves tax according to their tax rate. But for those who haven’t made use of the existing limit of Rs 1 lakh so far, the taxability clause of interest on these bonds remains to be seen. A notified bank FD for a 5-year period may give you a slightly better coupon rate. Assuming a coupon of 7.5 per cent, the post-tax return could be in the range 5.18 to 6.7 percent, tax-free. Considering the additional deduction as per the slab, it’s an investment worth considering.

INSURANCE: LIFE Queries

From Outlook Money


How does it affect the risk cover under a life insurance policy if one pays the premium during the grace period offered by the insurer?

Sundar Gupta asked:

Each and every life insurance policy states the date on which the renewal premium is payable by the insured. The policies also provide a grace period for the payment of the premium. The grace period is one month for policies having yearly, half-yearly or quarterly premium payment terms. However, it is 15 days if the premium is paid on a monthly basis.

During the grace period the policy remains in full force, even if the due premium is not paid. Also, there is no additional interest on the premiums paid during the grace period. In case of the death of the insured during the grace period, the claim is payable in full subject, however, to the deduction of the unpaid premium amount.

---

Is partial withdrawal taxable for unit-linked plans (Ulips)?

Prasant Shaw, email

The question of taxability against partial withdrawal for Ulips arises only if the policyholder claims deduction at the time of contribution to the Ulip scheme. Taxability of the amount withdrawn from an Ulip corpus depends on the policy year. If the withdrawal takes place before the five years of the policy, the amount withdrawn becomes taxable. However, if the policy has run for more than five years, then the withdrawal is not taxable.

---

I could not pay the premiums under my life insurance policy for the last one year due to some personal problems. Now, I want to continue with the policy. What shall I do to resume premium payment and continue with the policy?

Vikram Verma, email

You have not mentioned the type of policy you hold. We assume that it is an endowment plan. In case of an endowment plan, most of them lapse if the premiums are not paid for more than six months. In such circumstances, you should approach the policy issuing office of the insurer and complete the formalities required for the revival of the policy. Depending on your health conditions and your age, you may have to undergo some medical tests before the insurer revives the policy.

---

I have taken a personal loan from a public sector bank. Can I keep my life insurance policy as security against the loan? What is the procedure?

Manju Sridhar, email

Life insurance policies are accepted as collateral security by most financial institutions. Therefore, you can certainly offer your life insurance policy as security for your personal loan. However, for this facility you will have to assign the policy in the favour of the lending institution. You will also have to approach the policy issuing office of the insurer and complete the paperwork related to the assignment of the policy.

---

My ex-husband has a insurance policy under which he made me the beneficiary. It’s almost a year now that we have separated. Can I still remain the nominee to the policy?

Reenu Singh, email

You have mentioned that the owner of the life policy is your ex-husband. So, it will be his sole discretion to appoint anyone as a nominee under the policy. A nominee need not be a relative. Therefore, even after the separation you can remain a nominee under the policy.

However, you must remember that a nominee is only meant to give a valid discharge under a policy as far as the insurer is concerned. A nominee receives the proceeds on behalf of the legal heirs of the insured. Information regarding nomination is not made public by any company unless it has been authorised by the policyholder.

TAXATION The Second Chance...

From Outlook money

31 July is gone and you are yet to file your tax return? here's what you can still do

S. HAMSINI AMRITHA

All Is Not Lost, Yet

1. Haven’t filed your return by 31 July? You have time till 31 March to do so.
2. The extra time, however, doesn’t come for free. If tax hasn’t been paid before 31 July, you need to pay interest under Section 234A of the Income Tax Act.
3. Is your tax liability Rs 10,000 or more? Then, you must have paid advance tax. If you haven’t, along with the interest under Section 234A, you also need to pay interest under Sections 234B and C.
4. Business loss or any other loss cannot be carried forward since you are filing a late return; only loss from house property and absorbed depreciation can be carried forward.
5. Late returns cannot be revised. So, be very careful while providing information.
6. You can e-file late returns. Last date to e-file is 31 March 2011.
7. If returns aren’t filed by 31 March, a penalty of Rs. 5,000 could be levied on you.

***

Life is no less taxing without the necessity to pay taxes. But when you can't escape it, why not be a little prompt to avoid any pain in the future? If your income is already subject to tax deducted at source (TDS), the necessity to pay tax doesn't arise. In such a case, you are excused if you don’t file your return on 31 July. But make sure you do it by end of the current fiscal year, i.e., 31 March 2011. There is a possibility of the income tax department levying a penalty of Rs 5,000 if you fail to do so. If TDS has been deducted at a higher rate, or tax has been deducted without providing for Chapter VI-A deductions or other deductions such as interest on housing loan, you may also be eligible for tax refund. Here again, the second deadline is 31 March.
Business loss
If you are running your own business, it's important that you adhere to the due date. Says Manoj Yadav, co-founder, www.taxspanner.com, an online tax filing portal: "All losses are allowed to be carried forward to the next year only if return is filed by July 31. Exception to this is loss under the head of house property. Unabsorbed depreciation can also be carried forward.”
Tax not paid
The process gets expensive for those who haven't paid their taxes and also skipped the due date for filing returns. Three types of interests are attracted in such a case:Interest for not furnishing tax return (Section 234A). If you file the return of income for the assessment year (AY) after the due date, you can get off by paying simple interest at the rate of 1 per cent for every month, starting from the day after the due date. Interest is calculated on the amount of the tax on the total income, after adjusting for TDS.
Advance tax not paid. Does your tax liability for the AY exceed Rs 10,000? If yes, then you must have paid tax in advance. If you haven't, and missed the deadline for filing the return too, two types of interest apply. First, you have to pay interest under Section 234B. This section is attracted when an assessee who is liable to pay advance tax has failed to pay such tax or, when the advance tax paid is less than 90 per cent of the assessed tax. Section 234C is also attracted for having deferred the payment of the advance tax.
Long due. Are you one of those who have not filed their returns for a long time, say five years. Tax laws recognise only the returns filed for the preceding two assessment years as valid. We are now in 2010-11. Hence, returns filed for AY 2008-09 and 2009-10 only will be valid, though there is nothing that actually prevents you from filing returns for the previous years. “If the IT department decides to open the assessment for those previous years, you may inform them that you have now filed the returns. The department may either accept it or insist that you file it again,” says T.G. Suresh, a Chennai-based tax practitioner. As he suggests, you can file returns for the previous two assessment years and file the returns of the years preceding them whenever called for.
E-filing
Paperless filing is possible even in case of belated returns. But you must do so before 31 March 2011. A belated return cannot be revised. Says Mamtha Banerjee, founder & CEO, www.investmentyogi.com, a personal finance website: “You need to pay more attention while e-filing after the due date. Adhere to the checklist carefully. Ensure all the data given is correct."

---

hamsini AT outlookindia.com