Due Date Of Filing of Income Tax Returns Extended To 4th August 2010
Aug 1st
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of filing of income tax returns to 4th August 2010 for taxpayers for whom the due date ends today, which is 31st July 2010. All paper returns or e-returns filed on or before 4th August 2010 will be considered as filed within the due date.
The decision was taken in view of some technical snags in the e-filing computer system, and inclement weather at various locations, due to which taxpayers have reported difficulties in filing or uploading income tax returns.
Paypal India Users Can Continue to Enjoy Electronic Withdrawals
Jul 30th
Barely a few days ago, PayPal had announced that Indian users would not be able to withdraw electronically from July 29, 2010. However, PayPal has announced today that it will continue to offer electronic withdrawals.
Here’s the email PayPal has sent out:
We’ve received good news. You can continue to enjoy electronic withdrawals just as you did before.
While we have received your appreciation for the advanced notice and the refund of the cheque processing fee, we also have heard loud and clear that you highly value the ease-of-use of our electronic withdrawal service. Our customers are our number one priority and we are working tirelessly to improve our service.
Thank you for your patience and in appreciation for your continued support, we will still provide the $5 USD processing fee refund for any cheque withdrawals made from July 29, 2010 until further notice.
Password to open your ITR V/ ITR-Acknowledgement
Jul 30th
After a lot of searching, have finally got the password logic for the ITR acknowledgement that’s made available to users who file their returns electronically through the www.incometaxindiaefiling.gov.in website.
The password is a combination of the pan (in lower case) and the date of birth in the format ddmmyyyy.
For example, 1) if the pan is AAAAA2222A and the date of birth is 07-Jan-1978, then the password will be aaaaa2222a07011978
Please note that you will need Adobe Acrobat reader to open the password protected PDF file.
Change In Withdrawal of Funds From PayPal Accounts for India Users
Jul 27th
PayPal has announced another change in withdrawal of funds from PayPal Accounts for Indian Users.
In accordance with regulatory instructions, PayPal is bringing in a change in their withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.
From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
To request for a cheque withdrawal:
1. Log into your PayPal account, click on ‘Withdraw’.
2. Click on the ‘Request a cheque from PayPal‘ link.
3. Enter the withdrawal amount and select your mailing address, then click ‘Continue‘.
4. Click ‘Submit’ to confirm your request.
Checkout screenshots here for the above points.
In order to help users with this change and until further notice, PayPal will refund the $5 USD cheque withdrawal fee to you cheque withdrawals made on July 29, 2010 onwards.
Home Improvements with the Best Rate of Return: How to Improve Your Home and Make It Worth It
May 9th
photo by Nestled In
This is a guest post by Marcy Tate. Marcy is a home improvement blogger at Networx. For over a decade, she’s been working with landscape maintenance service providers on ways to increase curb appeal.
If you’re considering doing some home improvements this spring or summer, pick renovations that will pay off. There are several home improvement renovations or projects that will give you a great return on investment. There are a few important considerations:
1. Consider Local Trends
For example, if all the roofs in your neighborhood are asphalt shingled roofs, then replacing your roof with a metal roof may not pay off in the local market.
2. Go with Mass Appeal
Mass appeal is related to local trends but deals more with what most home buyers are looking for. For example, if you can afford them, high-end appliances may be a nice addition to your kitchen, but they don’t always wow a potential buyer. Continue reading “Home Improvements with the Best Rate of Return: How to Improve Your Home and Make It Worth It” »
Banks Can Return Cheques Altered For Anything But The Date
May 3rd
A recent RBI Circular [1832/04.07.05/ 2009-10 dated 22nd February 2010] now clearly mandates that the branch/ clearing teams can return cheques which have alteration in the:
* Payee Name
* Amount in numbers
* Amount in words
Prohibiting alterations/ corrections on cheques:
No changes/ corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations.
Weekend Linkfest [2010-05-01]
May 1st
Ryan’s post about Life Goal Setting – Chunking vs Multi Tasking @ Planting Dollars
Matt shares his Thoughts on Lending Money @ Fivecentnickel
Frugal Dad’s post on Downshifting: Quit Dreaming and Start Planning @ Frugal Dad
Peter Bregman’s take on Why Not Having a Plan Can Be the Best Plan of All @ Harvard Business Review
John Chow’s post on What If You Bought Apple Stock Instead of The Apple Product? @ John Chow
Sara tells us how to Reward yourself to stay on track @ Frugal Village
Investing in Mutual Funds – Dividend or Growth Option?
Apr 18th
In most mutual funds schemes an investor can choose what s/he wants to do with the profit made on his investments — get it in hand (I mean bank account) or plough it back into the mutual fund scheme. Just a few days ago I was asked this question by a friend — which option should one pick while investing in a mutual fund — Growth or Dividend?
The answer — this post, explaining the difference that should be of benefit to all.
PROFITS
The basic difference is in the way the returns on investments are treated. In a growth option, any profit made on investment is not distributed but retained in the scheme. In a dividend option, the investor gets back the return as dividend. Continue reading “Investing in Mutual Funds – Dividend or Growth Option?” »
