Nothing
can be a better teacher than the experience of life. I can regard the
experiences of life as live teachers who are capable of teaching the most important
aspects. I have always wondered about the applications of some of the bookish
knowledge that I’ve gained as portions of academic syllabus. Whenever I try to
correlate these concepts with simple outlooks of life, I’m always fascinated by
the existing congruence between them. So, in this post I am going correlate
some of the scientific terms like sensitivity, linearity, output etc from the
prospective of Engineering course (Since I’m an Engineer J
)to the experiences of life. I should not forget to thank one of the professors
of my college whom I met recently for this wonderful explanation.
Starting
with the concept functioning of an electronic instrument, one of the important
factors is sensitivity. Sensitivity can be defined as the change of output due
to change in input. In other words, how quickly an instrument responds to
change in the input parameters. Now, it’s the turn for linearity. A linear
instrument is something in which the relationship between input and output
parameter is a straight line. In other words, the slope is one. That means the
amount of change in input parameters is equally reflected in the change in
output parameters. More sensitivity leads to non linearity which results in instability.
In simple words, a sensitive system can never be stable or linear.
We
can apply the same concepts to our life. If we compare ourselves with those
electronic instruments then situations act as outputs and our responses to them
define our sensitivity. So to get the output i.e favourable result in
proportional to the input i.e efforts, our sensitivity towards these situations
must be as low as possible. The tougher the situations, the better will be the
result provided we control our sensitivity. My father says that the fixed
duration test in the examination hall checks our knowledge whereas the life
knowledge is tested continuously through several ordeals. That’s the real test
we are appearing in every moment, a timed one.
So,
the concept of linearity is not just important for the proper functioning of an
instrument but equally needed for overcoming obstacles of life
at ease.
Before going into the details of the
topic, I would first like to define tax. Income tax is a certain amount of
income to be paid to the government at the end of a year. This has to be paid
on a specific day regardless of whether it belongs to an individual or a
business under condition if the annual income
exceeds Rs 1,60,000, after making all deductions under Chapter VI A, then the
person will have to pay tax..
The word tax has its root with the word taxation which means estimation.
It’s not a new concept. As a matter of fact it has a history as old as
2000years. In earlier days, it was levied on sale and purchase of merchandise
or livestock and was paid in a random manner. The earlier evidences are found in
decrees of Greece, Germany and roman empires whereas in India, the evidences of
the system of direct taxation have been found in literatures like Manu Smriti and Arthashastra. Then taxes were paid in form of gold and silver
coins, cattle, portions of agricultural produce, raw materials and even by
rendering personal service.
Income
Tax Act of 1961 governs issues
related to direct income tax in India. According to this act, the calculation
of the income tax on the annual income of the person or organization starts on
1st April and ends on the 31st March of the next
financial year. These are known by the terms – previous year and assessment
year respectively. It is collected by the government in following ways-
i)voluntarypayment by the tax payers
ii)Tax
deducted at the source(TDS)
iii)Tax
collected (TCS)
Income
Tax return (ITR) is the
form through which a tax payer communicates with the income tax department.
This leads to a transparent system where a citizen just tells the government
about the amount, source and mode of earning income. Income tax return filling
provides a method to the citizens to give information about the income and
detail of the tax paid. There are different forms available for filling ITR
which is based on different status and head of income.
The income tax paid is used in the
development of the country such as building of roads, infrastructures, defence.
Government uses these taxes to fund the public activities and other welfare
projects. A rising income tax shows a corresponding growth in the income. So,
it can be regarded as the barometer of the progress.
There
are several benefits of filling ITR:
i)It
serves as a standard proof.
ii)Technology
has made the filling up ITR online the easiest task.
iii)Availability
of VISA becomes possible through submission of ITR which opens up the gateway
to abroad.
iv)Easier refund claims
v)Creates
a strong financial background
vi)It
can be filled even after the scheduled date
vii)The
amount denoted can be used as deductions which help in reducing the taxation
income.
We, being the citizens of India, have a
greater share of responsibility for the development of the country. So, it is
our obligation to pay the tax for our nation. When the paying of ITR is just
few clicks away on platforms like H&R block, why should we even procrastinate?
The way each drop constitutes an ocean, similarly when we, as responsible
individuals move forward and join hands for building our country, it will
definitely lead to a great transformation.
#TaxPledge
“I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.”
Be a better citizen by filing up Income Tax Return #TaxPledge
In this competitive world, we have no time to
halt and think. We are very busy in our daily schedule that keeps us away from
many responsibilities. One of such
responsibilities is filing up Income Tax return, which should not be ignored at
all. We think that it is just wastage of time and nothing else. But the truth
is something different. Income tax
constitutes a large part of revenue for the government of India which is used
by the government for the growth and overall development of country. Filling of
Income Tax Return not only highlights our patriotic nature but can help us in
our financial life. Still confused?? Let
me tell you the importance of filling up IT return.
What
is Income Tax?
The biggest revenue mobilizer for the
government of India is the Income Tax Department. Income tax is actually the
percentage of income that a citizen pays to its government. This helps the
government to raise funds for infrastructural development and stabilizing economy of country by paying salaries to the employees working in different
spheres with collaboration with government.
Who pays the income tax??
The income tax is paid by citizens of
country, corporate firms, corporations, Association of person, body of
individuals and companies. It is paid at every month or at the end of
contractual earning.
The Income tax payers are classified
into 3 categories
1.Resident and Ordinarily Resident
2.Resident but Not Ordinarily Resident
3.Non-Resident
What is division of income of a person??
Total income of a person is divided into following sections-
1.Income from salaries
Income from house property
Profits and gains of business or profession
Capital gains
Income from other sources
Why
is filling up Income Tax so important?
The income tax return serves the following purposes.
·It is a showcase
of income tax liability and taxes paid.
·It is a self
certification that we have paid the correct tax.
·It gives the
justification of taxes paid.
·It diminishes any
ambiguity in earning and paid tax.
·It avoids
unnecessary search and notice by the income tax department.
It
should be kept in mind that if we don’t pay Income Tax, we will be penalized.
What
are the benefits of filing up IT Reurns?
Filing
up Income Tax return can provide us a lot of benefits which are mentioned
below-
1.This
tax will help our country to prosper.
2.We
can get the loans sanctioned quickly and easily without wasting much time.
3.It
is a proof for the income.
4.We
can trade in stocks, open bank accounts, get bank credits, and make investments
etc quite easily.
5.Income
tax returns are a must to become eligible to secure certain tenders (for many
organisations).
6.A proof
of return filing is a main requisite at the time of applying for a visa.
What are the different forms available for
ITR??
The income tax forms are termed as ITR forms.
Return Form
Brief
Description
ITR - 1
Also known as
SAHAJ is applicable to an individual having salary or pension income or
income from one house property (not a case of brought forward loss) or income
from other sources (not being lottery winnings and income from race horses).
ITR 2A
It is applicable
to Individuals and Hindu Undivided Family not having income from business or
profession and capital gains and resident who do not hold foreign assets do
not have foreign income.
ITR - 2
It is applicable
to an individual or a Hindu Undivided Family having income from any source
other than "Profits and gains of business or profession".
ITR - 4S
Also known as
SUGAM is applicable to individuals and Hindu Undivided Family who have opted
for the presumptive taxation scheme of section 44AD/44AE.
ITR - 4
It is applicable
to an individual or a Hindu Undivided Family who is carrying on a proprietary
business or profession.
Source: incometaxindia.gov.in
How can a person pay income tax easily??
There
are two ways in which a person can pay income tax easily-
1.Offline Mode-We need to fill up the details in a
challan and submit this challan along with your income tax in the bank before
certain date.
2.Online Mode- e- Filing isthe processof electronically filing
Income tax returns through the internet. We have to fill the details of income,
deductions and tax payments in the income tax return forms using internet. The
income tax return forms are called ITR. There are various forms of ITR
available for the tax payers to fill. The process of filing the forms become
quite easy by this mode.
We are left with no reason why we should
avoid filing IT returns, especially when the process can be done in a few
clicks with e-filing platforms like H&R block.
Then what are you waiting for. Go and
fill up your Income Tax Return form before its due date and become a
responsible citizen.
“I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.”
Children
constitute the world of parents. They are the apple of their parent's eyes.
Most of them are naughty and they don't spare a single minute to put their
parents in trouble. Enjoyment is the ultimate happiness for them.
All most every parent is concerned about the health of
their children. Declining growth rate of their children become a major issue
which keeps on haunting parents for long. Parents find themselves in a
stressful situation when there is no or very little significant change in
growth of their children as compared to other children of same age group.
Why
is healthy growth important??
Healthy
growth is an important factor that contributes to the overall development of a child.
A child can enjoy his/her daily chores if he/she is fit both in terms of
mentally and physically. It has been observed by Pediatricians that for
children 3 to 9 years is a critical phase of growth. There is growth in terms
of height and weight of individuals. Inadequate growth can lead to many
diseases and disorders. The reasons for inadequate growth in children are-
ØPoor
Nutrition
ØLack
of growth hormones
ØSevere
stress
ØHereditary
ØProlong
illness
How
to keep track of your child's growth??
One
can keep track of the growth of their child by maintaining a growth chart at
regular interval. There are varieties of
height measurement stickers available which can be pasted on the wall of a room
of the child.
Height
and weight calculator: With the help of this calculator it will be quite easier
for parents to maintain a record of growth of their children. All you need to
do is to simply enter gender, age, height and weight of your child and it will
display a chart showing percentile of growth in terms height and weight.
Percentile is a measure used for indicating a value below which a given
percentage of observation is made. If there is a decrease in the level of the
graph, then it is an alarming situation for parents to take all necessary
measures to identify the root cause.
To
fulfill missing nutrients in a diet of the child, Horlicks Growth + can proved
to be a useful supplement. Horlicks Growth+ is a nutritious healthy drink which
nourishes children who have fallen behind with their weight and height. It
comes in form of a milk powder which can be added to hot or cold water/milk to
enrich the content of nutrition. It comes in two different flavors- vanilla and
chocolate. By consuming this product, it is clinically proven to help children
catch on weight in only 6 months. It contains whey protein, essential amino
acids such as Arginine, Glutamic acid, Leucine and Lysine important to help
children in stay healthy. Other vital nutrients like Vitamin A, C and D
strengthen immunity.
One
thing should be kept in mind that it can’t be used as meal replacement for
children. It should be taken as a part of regular diet. It is recommended to consult
a doctor for taking the right amount of Horlicks growth + for the child.
Without
delaying much, parents should rush to the nearby grocery stores to avail this
balanced nutritional supplement for their children to optimize their growth. They
can experience the change within few months.
