Ministry of Defence Recruitment of Various Posts 2014-15

Friends,

5121 ASC BN (MT) CIV (GT), Ministry of Defence, Government of India invites applications from eligible candidates for the posts as mentioned below. The interested candidates can apply on the prescribed application format which could be downloaded from the official website of Ministry of Defence. No other means/mode of application will be accepted. The candidates are advised to ensure their eligibility before applying for these posts. The selection of candidates will be made on the basis of performance in written test, practical Test and interview. The brief details are as under : 

Name and Number of the posts:

1. Vehicle Mechanic: 1 Post
2. Safaiwala (MTS): 2 Posts
3. Lower Division Clerk: 4 Posts
4. Cleaner (For Vehicles): 3 Posts
5. Cook: 3 Posts
6. Civilian Motor Driver (OG): 86 Posts
7. Tarpaulin Maker: 1 Post

Total No. of post: 100 Posts

Pay Scale: 

• Rs.5200-20200 + Grade Pay Rs.1900 for Vehicle Mechanic, Lower Division Clerk, Cook and Civilian Motor Driver (OG).
• Rs.5200-20200 + Grade Pay Rs.1800 for Safaiwala (MTS), Cleaner (For Vehicles) and Tarpaulin Maker.

Educational Qualification

1. Vehicle Mechanic: Matriculation or equivalent examination passed, Capable of reading number and names of tools and vehicles both in English and Hindi and one year experience of Trade.
2. Safaiwala (MTS): Matriculation or equivalent examination passed.
3. Lower Division Clerk: 12th class passed or equivalent examination and a typing speed of 35 w.p.m. in English or 30 w.p.m. in Hindi on computer.
4. Cleaner (For Vehicles): Matriculation or equivalent examination passed and proficient in Trade.
5. Cook: Matriculation or equivalent examination passed and knowledge of Indian Cooking and proficient in Trade.
6. Civilian Motor Driver (OG): Matriculation or equivalent examination passed with valid Driving License for Heavy Vehicles and have minimum two years experience.
7. Tarpaulin Maker: Matriculation or equivalent examination passed and proficient in Trade.

Age Limit (as on Closing Date For Receipt Of Application)

• Between 18 to 27 years for Civilian Motor Driver (OG).
• Between 18 to 25 years for remaining posts.

(Relaxation in Age will be given according to the Govt. Rules and Regulations.)

How to Apply : Eligible candidates may apply through prescribed application format as given in notification.

Application Form duly complete in all respect along with attested copies of all required Certificates/Documents should be submitted to the Commanding Officer, 5121 ASC BN (MT), PIN: 905121 c/o 56 APO within 21 days from the date of publication of the advertisement. Candidates should mention “Application for the Post of ________” on the envelope in which the form would be sent.

Important Dates

• Opening Date of Application Forms: 2 August 2014
• Closing Date of Application Forms: within 21 days from the date of publication of the advertisement (23 August 2014)

For more Jobs Click Here

Cost Inflation Index Up to 2012-13 (w.e.f. 1981-82 to till now)

Friends,

The Cost Inflation Index for the F.Y 2012-13 has been notified. Here are the rates of  Cost Inflation from the Financial Year 1981-82. While computing long-term capital gains, ‘indexed cost of acquisition’ and ‘indexed cost of improvement’ are required to be deducted from the full value of consideration of the capital asset. Both these costs are thus required to be indexed with respect to the cost inflation index pertaining to the year of transfer.

How to Calculate Long Term Capital Gains (LTCG) ?

Long Term Capital Gains is computed as below :

LTCG = Full value of consideration received or accruing - (indexed cost of acquisition + indexed cost of improvement + cost of transfer)

Where, Indexed cost of acquisition =Cost of acquisition x CII of year of transfer /CII of year of acquisition Indexed cost of improvement =Cost of improvement x CII of year of transfer /CII of year of improvement

CII = Cost Inflation Index (Please see chart given below)
Tax liability on LTCG to be taken at 20%.
If total income other than LTCG is less than zero slab,LTCG over the zero slab only attracts tax at 20%.

Cost Inflation Index from 1981-82 to 2012-13 (Notification of Cost Inflation Index F/Y 2011-12)

FINANCIAL YEAR	COST INFLATION INDEX	FINANCIAL YEAR	COST INFLATION INDEX
1981-82	100	1982-83	109
1983-84	116	1984-85	125
1985-86	133	1986-87	140
1987-88	150	1988-89	161
1989-90	172	1990-91	182
1991-92	199	1992-93	223
1993-94	244	1994-95	259
1995-96	281	1996-97	305
1997-98	331	1998-99	351
1999-2000	389	2000-01	406
2001-02	426	2002-03	447
2003-04	463	2004-05	480
2005-06	497	2006-07	519
2007-08	551	2008-09	582
2009-10	632	2010-11	711
2011-12	785	2012-13	852

Indexed cost of acquisition calculation (Notification of Cost Inflation Index F/Y 2011-12)

Indexed cost of acquisition: Cost of acquisition x cost inflation index for the year of transfer/cost of inflation index for the year acquisition or 1981-82, whichever is later

Indexed cost of improvement: cost of improvement x cost inflation index for the year of transfer / cost inflation index fore the year of improvement.

How to Use New Rupee Symbol in MS Office/Excel

Friends,

A Few months ago the Indian Government has announced the Symbol for Rupee currency. It could take some time to be popular and implement the same in all over the world. Further if someone wants to use this symbol, then it is not available in the present keyboards. Then How to Use this New Rupee Symbol. Friends, here is the technique to use this symbol. 

A Mangalore based company Foradian Technologies has already made a new font available for users who would like to use the new Rupee symbol on their computers. While the sign may take time to be adopted by Unicode, that doesn't mean you should not be using the font all the while.

How to use ?

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1. Download the above attached font Rupee.ttf or the new version Rupee_Foradian.ttf from the Links given below. 

2. To Install this font Just copy the font and paste it in "Fonts" folder in control panel. 

3. Now you can easily use this Font. Start using it. 

Download the Rupee Firadian.ttf 

System to type the Rupee symbol :- 

Follow these steps in MS Office/Excel to use this Font 

Download the Rupee Firadian.ttf which given in the above. 

Just copy and paste that in the Fonts folder (general location is C:\WINDOWS\Fonts). If you still not found..search for fonts in the windows search..you will definitely find. 

Open MS Office - Word or MS EXCEL

Select and Change the font to Rupee (Generally Arial or Times New Roman will be there) 

Just Press the button '~' which is above the TAB button and left to the button '1' and below the 'Esc' button.

Optional step : Select the symbol and change the size to bigger (48 or 76 which ever you like) 

Have you got it...?

Rupee symbol mapped the grave accent symbol - ` (the key just above "tab" button in your keyboard) with the new Rupee symbol. Just select "Rupee" font from the drop down list of your fonts in your application and press the key just above your tab button. It will display our new rupee symbol. Try it.

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South Malabar Gramin Bank Recruitment 2011

SMGB  Recruitment 2011 – Officer & Office Assistant Vacancy
South Malabar Gramin Bank is a Regional Rural Bank (RRB) Sponsored by Canara Bank a leading public sector bank which is owned by Government of India. Those who are looking for the jobs opportunity as an Officer or Office Assistant in Kerala they have the opportunity to apply against the current bank jobs openings in South Malabar Gramin Bank.

Bank jobs are the most sought after jobs in India. Those who wish to make career in Banking Sector in Officer & Clerical Cadre they can apply against the current jobs openings in South Malabar Gramin Bank. South Malabar Gramin Bank has advertised for filling up various posts in MMGS-III, JMGS-I & Clerical Cadre.

Officer in MMGS-III : 04

Officer in MMGS-II : 18

Officer in JMGS-I : 47

Office Assistant (Multipurpose) : 43

Last Date : 22 September 2011

Mode of Application : ONLINE

Closing Date for Online Application : 22 September 2011

Interested and eligible candidates who wish to apply against the current vacancy of Officers in South Malabar Gramin Bank they must apply online from the Bank website.

South Malabar Gramin Bank Website : www.smgbank.com

Advertisement : http://www.smgbank.com/advertisement.htm

Those who wish to apply against the Officer & Clerical Cadre Posts they must apply online from the official website of SMGB. Category wise reservation, age relaxation, reservation rules, selection procedure, career growth and other such information can be read from the official website of South Malabar Gramin Bank.

Note : Website of Bank – smgbank.com is currently not working. Bank website has stopped working due to bandwidth problem. Try visiting some other time.

FYJC 11th Standard Merit List 2011- 3rd General Merit List

Mumbai Region 11th Standard Online Admission for First Year Junior College (FYJC) for 2011-12 Session FYJC-Admission-Mumbai-Region

The online admission process for admission to First Year Junior College (FYJC) for 11th standard admission for Mumbai region has started and last date for submission of  application is closing today . Those who wants to take admission in 11th standard they can apply online at the official website for 11th Standard Online Admission for Mumbai region (www.fyjc.org.in) Candidates  applying online must read the instructions and FAQ carefully. The detailed instructions for admission to First Year Junior College is available on FYJC Website. A video is also uploaded on the website which illustrate the process.

In case of any problem related to FYJC admission the telephone number given below can be contacted. Helpline : 022-23680473

First Merit List Commerce & Science (Bifocal) will be declared on 12 July 2011 at 5.00 PM and payment of fee for Bifocal stream are to be made on 13 & 14  July 2011 between 10 AM & 2:00 PM The

2nd Merit List for Bifocal will be declared on 18 July 2011 and payments of fee for admission to FYJC are to be made on 19th & 20th July 2011.

First General Merit List (Arts, Science & Commerce) for admission to FYJC will be announced on 22 July 2011 at 5 P.M. and fee is to be deposited on 23th, 25th, 26Th & 27th July 2011.

2nd General  Merit List (Arts, Science & Commerce) will be announced on 01 August 2011 at 5 PM. Fee on the basis of 2nd General Merit List  for admission to FYJC is to be made on 2nd, 3rd, & 4th August 2011 between 10 AM & 2:00 PM.

3rd Merit List (Arts, Commerce & Science) will be declared on 08 August 2011 at 5 PM. The fee for admission on the basis of 3rd Merit List  is to be made on 9th & 10th August 2011.

The declaration of Vacant Seats positions be made on 31 August latest by 2 PM. The admission to Minority/Inhouse Quota will be given at Junior College level from 27th June to 07 July 2011. Those who wants to take admission on the basis of this quota they must contact the respective Junior College.

First Bifocal Merit List has been declared. Candidates can check their results using their application number. If you wants to know the results of 1st Merit list then visit the link given below.


FYJC First General Merit List will be declared today and it will be published online on official website. You can check the 2nd Merit List from 5 PM onward. Those who have applied for the FYJC admission they can check the First General Merit list from the official website after 5 O’clock in the evening on 22 July 2011.


Those who could not get admission so far they can check the 3rd General Merit list to be declared on 08 August 2011 for FYJC Admission. Third Merit list will be announced at 5PM. Those who are awaiting the 3rd Merit list they can check it as per schedule from the official website of FYJC.

FYJC 1st General Merit List has been declared. You can check it from the official website.

FYJC 11th Standard Online Admission : http://fyjc.org.in/mumbai/StaticPages/HomePage_main.aspx?tms=1

The candidates seeking admission to FYJC Mumbai region can visit the website link given above.

Distinction Between A Public Company And a Private Company

Following are the main points of difference between a Public Company and a Private Company :-

1. Minimum Paid-up Capital : A company to be Incorporated as a Private Company must have a minimum paid-up capital of Rs. 1,00,000, whereas a Public Company must have a minimum paid-up capital of Rs. 5,00,000.

2. Minimum number of members : Minimum number of members required to form a private company is 2, whereas a Public Company requires atleast 7 members.

3. Maximum number of members : Maximum number of members in a Private Company is restricted to 50, there is no restriction of maximum number of members in a Public Company.

4. Transferability of shares : There is complete restriction on the transferability of the shares of a Private Company through its Articles of Association , whereas there is no restriction on the transferability of the shares of a Public company

5 .Issue of Prospectus : A Private Company is prohibited from inviting the public for subscription of its shares, i.e. a Private Company cannot issue Prospectus, whereas a Public Company is free to invite public for subscription i.e., a Public Company can issue a Prospectus.

6. Number of Directors : A Private Company may have 2 directors to manage the affairs of the company, whereas a Public Company must have atleast 3 directors.

7. Consent of the directors : There is no need to give the consent by the directors of a Private Company, whereas the Directors of a Public Company must have file with the Registrar a consent to act as Director of the company.

8. Qualification shares : The Directors of a Private Company need not sign an undertaking to acquire the qualification shares, whereas the Directors of a Public Company are required to sign an undertaking to acquire the qualification shares of the public Company .

9. Commencement of Business : A Private Company can commence its business immediately after its incorporation, whereas a Private Company cannot start its business until a Certificate to commencement of business is issued to it.

10. Shares Warrants : A Private Company cannot issue Share Warrants against its fully paid shares, Whereas a Private Company can issue Share Warrants against its fully paid up shares.

11. Further issue of shares : A Private Company need not offer the further issue of shares to its existing share – holders, whereas a Public Company has to offer the further issue of shares to its existing share – holders as right shares. Further issue of shares can only be offer to the general public with the approval of the existing share – holders in the general meeting of the share – holders only.

12. Statutory meeting : A Private Company has no obligation to call the Statutory Meeting of the member, whereas of Public Company must call its statutory Meeting and file Statutory Report with the Register of Companies.

13. Quorum : The quorum in the case of a Private Company is TWO members present personally, whereas in the case of a Public Company FIVE members must be present personally to constitute quorum. However, the Articles of Association may provide and number of members more than the required under the Act.

14. Managerial remuneration : Total managerial remuneration in the case of a Public Company cannot exceed limit prescribed . Whereas these restrictions do not apply on a Private Company.

15. Special privileges : A Private Company enjoys some special privileges, which are not available to a Public Company.

Register Your Company in 24 HRS.

Friends,

From  July, you can register a company in India in 24 hours! The Union ministry of corporate affairs has set the first week of July as the target date for launching a completely digitized service that will allow anyone with all relevant documents and approvals to complete the process of registering a company in one day.

A senior ministry official told Business Standard that all the offices of the Registrar of Companies (ROC) were busy putting in place the new system and an announcement of the launch of the new service was likely by the end of June. The offices of ROC, appointed under Section 609 of the Companies Act, have the primary responsibility of registering companies floated in different states and Union territories and ensuring that they comply with statutory requirement under the Act.

At present, the process of registering a new company takes anywhere between 10 days and a month. One of the reasons for India faring poorly in global competitiveness indices is the inordinately long time the government takes in granting permission to set up anew company. The latest World Competitiveness Report of the World Economic Forum ranks India at 51, while China is much higher at 27.

Registration of a new company within 24 hours is only one of the many new initiatives the ministry of corporate affairs has planned for the next few months. It has decided to streamline the functioning of its oversight mechanism. At present, there are over 75,000 cases languishing in different courts that the ministry has to deal with. Most of these cases pertain to non-compliance of procedures by companies that have ceased to operate.

The ministry has decided that it would wind up such insignificant cases through close monitoring and follow-up action in the next few months. The target is to bring down the number of cases pertaining to violation of provisions under the Companies Act to a more manageable figure of 5,000. Ministry officials said it would be possible to close all the frivolous and inconsequential cases that wasted the government’s time, money and energy and focus only on the substantive cases where serious violation of the Companies Act had taken place. The objective was not to spread the ministry’s resources thin, but concentrate on the few cases that needed greater monitoring. Already, the ministry has taken a firm stance on companies that continue filing various returns and documents even without filing the annual reports, including the balance sheet.

Companies that have not filed the last year’s annual report, including the balance sheet, would now be unable to file any other reports electronically. Several companies delay filing their annual reports in violation of the procedures under the Act. This move would ensure greater compliance in a key area of corporate governance, the officials said.

Ever since its launch a few years ago, MCA-21, a website service run by the ministry, has been offering a slew of services to companies for electronic filing of returns or registration of digital signature. Researchers also find MCA-21 hugely useful for the information on companies that are now accessible on payment of fees. The new moves, initiated by the ministry, will make compliance of corporate laws more transparent and easy, the officials said. - www.business-standard.com

Best Options of Investment for Lump sum Investors

Friends,

You just got that BIG bonus you deserve but plucked up the courage not to treat yourself that 150 inch plasma television and save for a rainy day. You already have some systematic investment plans that you are steadily investing into, if not start now.  Now, let's look at options to park that big chunk of money you got.

1. Pay off a debt

Make a list of all of your debts and their interest rates. This includes housing loans, credit cards and student loans. If the interest on the debt is high you should pay off this debt before investing the money.

2. Park your funds into a fixed deposit

A person can invest an amount for a fixed duration. The banks provide interest rates depending on this loan amount and the tenure of deposit. Pick a bank that offers the highest interest rate and invest your lump sum.

3. Invest in the stock market

Indian private equities promise satisfactory returns and have more than 365 equity investments firms functioning under it.  Investing in the share market yields higher profits. Influenced by unanticipated turn of market events, stock market to some extent cannot be considered as the safest investment options. Do, remember that even old experienced hands have lost out on massive sums of money with one miscalculation, so tread carefully.

4. Invest in Mutual Funds

A mutual fund company pools the money of many investors and invests it for them in a collection of securities by purchasing stocks, bonds, money markets and/or other securities. Mutual funds are subject to market risks so be prepared in case you find your NAV lower than the sum invested. Conduct a thorough research on the best mutual fund and select a well balanced fund (in case you are risk averse) before you invest. The advantage you have when investing in a mutual fund is that an expert makes the investments for you.

5. A good down payment for real estate

Everyone should think of their home as an investment and if you have a sizeable enough chunk to make a down payment for a house. This is probably the largest and best asset to look at. Investing in real estate has become increasingly popular over the last fifty years and has become a common investment vehicle.  There are, of course, blemishes on the face of what seems like an ideal investment. When you invest in real estate, money is made or lost behind the scenes, not when the final deal is made.

6. Invest in government securities

These are government debt obligation backed by the credit and taxing power of a country with very little risk of default. This includes short-term Treasury bills, medium-term Treasury notes, and long-term Treasury bonds. Government securities are one of the safest in the market. G-secs can be bought either in the primary market (through RBI auctions) or from the secondary market. G-secs are available for tenure of three months (counting T-bills) to 30 years.

7. Investments in National Saving Certificate (NSC)

National Savings Certificate is a post-office savings scheme, backed by the government. The minimum amount of investment is Rs 100, with no upper cap. NSCs are sold in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000. The rate of interest is 8 percent per annum compounded half yearly. The amount invested in NSCs is eligible for tax deductions under Section 80C; however, the interest you earn would be taxable.

8. Investments in Public Provident Fund (PPF)

PPF is a government-guaranteed fixed income security. It provides regular savings by ensuring that contributions (which can vary from Rs.500 to Rs.70,000 per year) are made every year. An interest rate of 8% p.a. (compounded annually) is credited to the PPF account at the end of each financial year. The account matures in 15 years from the date of initial investment. One can then exercise an option of continuing the account for an additional block of 5 years or closing it.

TRANSFER IMMOVABLE PROPERTY BY NRIs/PIOs/FOREIGN NATIONALS OF NON-INDIAN ORIGIN

Friends,

MASTER CIRCULAR NO. 4/2011-12, DATED 1-7-2011

Acquisition and transfer of immovable property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin is regulated in terms of sub-sections (3), (4) and (5) of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 21/2000-RB, dated May 3, 2000. The regulatory framework and instructions issued by the Reserve Bank in this regard have been compiled in this Master Circular. The list of underlying circulars/notifications is furnished in Appendix.

This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2012 and be replaced by an updated Master Circular on the subject.

1. Introduction

The Foreign Exchange Management Act, 1999 (FEMA) empowers the Reserve Bank to frame regulations to prohibit, restrict or regulate the acquisition or transfer of immovable property in India by certain persons residents outside India. The regulations governing acquisition and transfer of immovable property in India is notified under Notification FEMA No.21/2000-RB of May 3, 2000, as amended from time to time.

2. Acquisition and Transfer of Immovable Property in India

A Non-Resident Indian (NRI)1

(i) Purchase of immovable property

A NRI can acquire by way of purchase any immovable property (other than agricultural land/plantation property/farm house) in India.

(ii) Transfer of immovable property

A NRI may transfer any immovable property in India to a person resident in India. He may transfer any immovable property (other than agricultural land or plantation property or farm house) to an Indian Citizen resident outside India or a PIO resident outside India.

(iii) Payment for Acquisition of Immovable Property

NRIs can make payment for acquisition of immovable property (other than agricultural land/plantation property/farm house) out of:

a. Funds received in India through normal banking channels by way of inward remittance from any place outside India or by debit to his NRE/FCNR(B)/NRO account.

b. Such payments cannot be made either by traveller's cheque or by foreign currency notes or by other mode except those specifically mentioned above.

(iv) A NRI who has purchased residential/commercial property under general permission is not required to file any documents with the Reserve Bank.

B Person of Indian Origin (PIO)2

(i) Purchase of immovable property

A PIO can acquire by way of purchase any immovable property (other than agricultural land/plantation property/farm house) in India.

(ii) Gift/Inheritance of immovable property

(a) A PIO may acquire any immovable property (other than agricultural land/plantation property/farm house) in India by way of gift from a person resident in India or a NRI or a PIO.

(b) A PIO may acquire any immovable property in India by way of inheritance from a person resident in India or a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force or FEMA regulations, at the time of acquisition of the property.

(iii) Transfer of immovable property

A PIO can transfer any immovable property in India (other than agricultural land/farm house/plantation property) by way of sale to a person resident in India. He may transfer agricultural land/farm house/plantation property in India, by way of gift or sale to a person resident in India, who is a citizen of India. He may also transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India, who is a citizen of India or to a Person of Indian Origin resident outside India.

(iv) Payment for Acquisition of Immovable Property in India

A PIO can make payment for acquisition of immovable property in India (other than agricultural land/farm house/plantation property):

a. By way of purchase out of funds received by inward remittance through normal banking channels or by debit to his NRE/FCNR(B)/NRO account.

b. Such payments cannot be made either by traveller's cheque or by foreign currency notes or by other mode other than those specifically mentioned above.

(v) A PIO who has purchased residential/commercial property under the general permission, is not required to file any documents with the Reserve Bank.

3. Acquisition of immovable Property by Foreign Embassies/Diplomats/Consulate Generals

In terms of Regulation 5A of the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000, Foreign Embassy/Diplomat/Consulate General, may purchase/sell immovable property (other than agricultural land/plantation property/farm house) in India provided—

(i) Clearance from the Government of India, Ministry of External Affairs is obtained for such purchase/sale, and

(ii) The consideration for acquisition of immovable property in India is paid out of funds remitted from abroad through the normal banking channels.

4. Acquisition of immovable property by person resident outside India for carrying on a permitted activity

A person resident outside India who has established a Branch, Office or other place of business, excluding a Liaison Office, for carrying on in India any activity in accordance with the Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000 may—

(a) acquire any immovable property in India, which is necessary for or incidental to carrying on such activity, provided that all applicable laws, rules, regulations or directions for the time being in force are duly complied with; and the person files with the Reserve Bank a declaration in the form IPI (Annex 2), not later than ninety days from the date of such acquisition; and

(b) transfer by way of mortgage to an Authorised Dealer as a security for any borrowing, the immovable property acquired in pursuance of clause (a) above.

5. Repatriation of sale proceeds of immovable property

(A) Immovable property acquired by way of purchase

(a) A person referred to in sub-section (5) of section 6 of the Foreign Exchange Management Act3, or his successor shall not, except with the prior permission of the Reserve Bank, repatriate outside India the sale proceeds of any immovable property referred to in that sub-section.

(b) In the event of sale of immovable property other than agricultural land/farm house/plantation property in India by a person resident outside India who is a citizen of India or a person of Indian origin, the Authorised Dealer may allow repatriation of the sale proceeds outside India, provided the following conditions are satisfied, namely:

(i) the immovable property was acquired by the seller in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations;

(ii) the amount to be repatriated does not exceed:

u the amount paid for acquisition of the immovable property in foreign exchange received through normal banking channels, or

u the amount paid out of funds held in Foreign Currency Non-Resident Account, or

u the foreign currency equivalent (as on the date of payment) of the amount paid where such payment was made from the funds held in Non-Resident External account for acquisition of the property; and

(iii) in the case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties.

(B) Immovable property acquired by way of inheritance/legacy/out of Rupee funds

A Non-Resident Indian (NRI)/Person of Indian Origin (PIO) may remit an amount, not exceeding US $ 1,000,000 (US Dollar One million only) per financial year out of the balances held in NRO accounts/sale proceeds of assets by way of purchase/the assets in India acquired by him by way of inheritance/legacy/out of Rupee funds. This is subject to production of documentary evidence in support of acquisition, inheritance or legacy of assets by the remitter, and a tax clearance/no objection certificate from the Income Tax Authority for the remittance. Remittances exceeding US $ 1,000,000 (US Dollar One million only) in any financial year requires prior permission of the Reserve Bank.

In cases of deed of settlement made by either of his parents or a close relative (as defined in section 6 of the Companies Act, 1956) and the settlement taking effect on the death of the settler, the original deed of settlement and a tax clearance/No objection certificate from the Income-Tax Authority should be produced for the remittance.

Where the remittance as above is made in more than one instalment, the remittance of all such instalments shall be made through the same Authorised Dealer.

6. Refund of purchase consideration

Refund of application/earnest money/purchase consideration made by the house building agencies/seller on account of non-allotment of flat/plot/cancellation of bookings/deals for purchase of residential/commercial property, together with interest, if any (net of income tax payable thereon) may be allowed by the Authorised Dealers by way of credit to NRE/FCNR (B) account, provided the original payment was made out of NRE/FCNR (B) account of the account holder or remittance from outside India through normal banking channels and the Authorised Dealer is satisfied about the bona fides of the transaction.

7. Prior permission to the citizens of certain countries for acquisition or transfer of immovable property in India

A citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan, whether resident in India or outside India, cannot acquire or transfer immovable property in India, without the prior permission of the Reserve Bank. This restriction is not applicable where the immovable property is taken on lease for a period not exceeding five years.

8. Purchase of Immovable Property in India by a Foreign National of Non-Indian Origin resident outside India

(i) Foreign nationals of non-Indian origin resident outside India are not permitted to acquire any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. However, they can acquire or transfer immovable property in India, on lease, not exceeding five years without the prior permission of the Reserve Bank.

(ii) Foreign Nationals of non-Indian origin, other than a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan, can acquire immovable property in India on becoming resident in India in terms of section 2(v) of the Foreign Exchange Management Act, 1999. In this connection, he has to satisfy the condition of period of stay. The type of visa granted should clearly indicate the intention to stay in India for an uncertain period to determine his residential status in terms of section 2(v) of FEMA, 1999. (Press Release dated February 1, 2009 issued by Government of India is enclosed as Annex 1).

(iii) Foreign nationals of non-Indian origin who have acquired immovable property in India by way of inheritance with the specific approval of the Reserve Bank or have purchased the immovable property with the specific approval of the Reserve Bank cannot transfer such property without the prior permission of the Reserve Bank.

Common Entrance Exam for Various Banks of Probationary Officer / Management Trainee

IBPS Common Written Examination (CWE) 2011 for Recruitment in 19 Public Sector Bank

Common Written Test 2011 for Probationary Officer / Management Trainee
A new approach has been initiated for recruitment to the posts of Probationary Officer / Management Trainee in 19 Public Sector Bank. A Common Written Test will be conducted twice an year which will serve as Pre requisite for apply against the officers posts in Public Sector Bank. This Common Written Test for recruitment of P.O. & Management Trainee will be held by Institute of Banking & Personnel Selection (IBPS). It means now candidates will not be required to appear in many examination for becoming an officer in Public Sector Bank.

A score card will be issued by IBPS to participating candidates. Selection to the posts of Management Trainee & P.O. will be made by individual bank. Each bank will notify its vacancy separately and the eligibility criteria will be determined by the bank. Common Written Test (CWE) will be a Pre-requisite for applying against the Probationary Officer & Management Trainee posts in following Government owned banks :-

    *      Allahabad Bank
    *      Bank of Baroda
    *      Bank of Maharashtra
    *      Central Bank of India
    *      Dena Bank
    *      Indian Overseas Bank
    *      Punjab National Bank
    *      Syndicate Bank
    *      United Bank of India
    *      Vijaya Bank
    *      Andhra Bank
    *      Bank of India
    *      Canara Bank
    *      Corporation Bank
    *      Indian Bank
    *      Oriental Bank of Commerce
    *      Punjab & Sindh Bank
    *      Union Bank of India
    *      UCO Bank

The scheme of Common Written Examination will be published on the Employment News / Rozgar Samachar on 16 July 2011. Details of Examination, Scheme of Examination and instructions for applying for CWE will be published on the official website of IBPS as well as in Rozgar Samachar & Employment News.

Important Dates for CWE 2011

Publication of Advertisement in Employment News : 16 July 2011

Payment of Application Fee : 08 July 2011 to 30 July 2011

Start of Online Registration : 09 July 2011

Last Date for online Registration (CWE 2011) : 01 August 2011

Date of Written Test : 18 September 2011

IBPS Official Website

Common Written Exam (CWE) 2011

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Address for Correspondance :-

Institute of Banking Personnel Selection (IBPS)

IBPS House, Post Box No. 8587, Kandivali (E), Mumbai – 400101

Email ID : common@ibpsorg.org

KNOW YOUR PF BALANCE ONLINE

Beginning Friday (July 1, 2011), people with accounts in the Employees Provident Fund Organisation (EPFO) could check their PF balance online. By using a simple process using EPFO’s portal, people could get to know the balance. After checking into the link provided for the purpose, account holders need to provide their account number and their mobile number. Details of the PF balance would be SMSed after completing the verification process. The facility, however, is available for people with PF accounts with EPFO’s offices.

Click here to Know Your EPF Balance in the following Regions

1. Delhi (North), 
2. Delhi (South), 
3. Laxmi Nagar (Delhi), 
4. Gurgaon, 
5. Faridabad, 
6. Karnal 
7. Bangalore.
8. Kerala 
9. “Remaining offices will be added soon,” an EPFO official said.

SPEAK ASIA: ROC TO SUBMIT REPORT BY JULY 10

The corporate affairs ministry has asked the Registar of Companies to inspect the books of accounts of the controversial multi-level marketing company Speak Asia and submit its report to the government by July 10. The Singapore-based company Speak Asia, which is yet to be incorporated as a company in India, would be inspected under section 591 of the Companies Act, which is applicable on companies incorporated outside India and has established a place of business within the country, sources said. “We will scrutinise the affairs of Speak Asia under Section 591 of the Companies Act, which deals with the companies which are incorporated abroad,” Corporate Affairs Secretary D K Mittal said.

Staff Selection Commission (SSC) Recruitment 2011

Staff Selection Commission (SSC) has invited the application for recruitment to various posts. These vacancies are to be filled by SSC Karnataka Kerala Region, Banglaore. Current vacancy advertised by SSCKKR includes the posts of Suveillance Assistant, Technical Assistant, Instructor & Bosun. Candidates desirous of applying against these vacancy can read the advertisement details and instructions from the official website.

Surveillance Assistants : 40 posts

Technical Assistant : 02 posts

Instructor (Seamanship & Navigation : 01 post

Bosun (Certified) : 01 post

Last Date : 29 July 2011

SSCKKR Website

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Interested candidates must submit their application on or before the closing date at the address given below.

Address for Sending Application Form :-

The Regional Director (KKR), Staff Selection Commission, 1st Floor, E Wing, Kendriya Sadan, Koramangala, Bangalore (Karnataka) PIN – 560034

Haryana Staff Selection Commission Recruitment 2011

HSSC Recruitment 2011 for 4131 posts of ALM
Haryana Staff Selection Commission (HSSC) Panchkula has invited the application for recruitment to the posts of 4131 posts of Assistant Lineman. This is a corrigendum in reference to advertisement No. 01/2011 dated 19 March 2011. HSSC Panchkula had advertised for filling up 1000 posts of Assistant Lineman vide Advt. No. 1/2011. Those who had applied against the advertiesment no. 01/2011 they need not apply again. Those who had not applied against the advertisement no. 1/2011 they now can apply against the 4131 posts of ALM. Candidates desirous of applying against the current jobs openings Uttar Haryana Bijli Vitran Nigam Ltd. / Dakshin Haryana Bijli Vitran Nigam Limited.

Assistant Lineman (ALM)
No. of Posts : 4131

Education Qualification : (i)  Matric with Two Years ITI Diploma in Electrician / Wireman Trade or 02 Years Vocational Course under trade of Lineman / Electrician (ii) Hindi Sanskrit upto Matric Standard

Age Limit : 18 – 35 years

Pay Scale : Rs. 5200 – 20200/-, Grade Pay – 2400/-

Last Date : 18 July 2011
Those who are looking for the career opportunities as Assistant Lineman in State of Haryana they now have opportunity to apply against the current jobs openings. You can read the details of advertisement from the official website of HSSC.

Haryana Staff Selection Commission Website

APSRTC Recruitment 2011

APSRTC Recruitment 2011 : Artisans & Mechanic Vacancy

Andhra Pradesh State Road Transport Corporation (APSRTC) has invited the application for recruitment to the posts of Mechanics & Artisans. Those looking for the career opportunity in state of Andhra Pradesh under APSRTC as an Artisan or Mechanics can apply against the current vacancy.

Mechanic : 96 Vacancy

Artisans : 65 Vacancy

Age Limit : 30 Years

Education Qualification : ITI in respective trade

Last Date : 14 July 2011

Candidates looking for further details can visit the official website of APSRTC.

APSRTC Website

APSRTC OUT (General & Technical) Written Test Results

APSRTC has announced the results of Officer Under Training (OUT) for General & Technical. Examination was held on 26 June 2011. Those looking for the APSRTC Recruitment results they can visit the official website.

CURRENCY DECLARATION FORM (CDF) - How much foreign currencies a non resident can bring into India?

Non Resident in form of tourists or visitors or returning Non Resident Indians often wonder how much foreign currency are permitted to be brought into India. As per Foreign Exchange Management Act , which is regulated by RBI , there is absolutely no restriction  on the quantum of foreign exchanges which can be brought in India. However, there is one formality which every one carrying more than US Dollar or its equivalent in other currency or travelers cheque will have to do.

They will have to file the Currency Declaration Form (CDF) which is will be  duly certified by the customs department.

Every  traveler should retain it for following benefits

1.as proof of the money brought in India .

2.Your foreign dealer may ask for the proof that you brought in foreign currencies or traveler cheques when you want to convert in Indian rupees.

3.When you are going back, it will facilitate  reconversion of the unspent balance of Indian rupees into foreign currency and showing the balance amount as per CDF at the custom.

Here is the Rule 6 of Foreign exchange management (export and import of currency) regulations, 2000 which regulates forex movement in India.

A person may -
a. send into India without limit foreign exchange in any form other than currency notes, bank notes and travelers cheques ;
b. Export and Import of Currency bring into India from any place outside India without limit foreign exchange (other than unissued notes),
provided that bringing of foreign exchange into India under clause (b) shall be subject to the condition that such person makes, on arrival in India, a declaration to the Custom authorities in Currency Declaration Form (CDF) annexed to these Regulations;
provided further that it shall not be necessary to make such declaration where the aggregate value of the foreign exchange in the form of currency notes, bank notes or traveler cheques brought in by such person at any one time does not exceed US$10,000 ( US Dollars ten thousands) or its equivalent and/or the aggregate value of foreign currency notes brought in by such person at any one time does not exceed US$ 5,000 ( US Dollars five thousands) or its equivalent

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Tips for Preparation of Bank Competition Exams

Friends,

Here are some important Tips on How to clear the Bank competition examinations. It needs some hard work and concentration. Bank jobs are considered to be very lucrative and therefore it is not surprising to find people flocking towards these jobs which naturally create a lot of competition for its entrance exams. In order to deal with competition, one needs to prepare well for the entrance exams. Determination is one of the key factors when it comes to bank exam preparation. Strong determination will help you to remain focused on the exams and eventually it will help you to achieve your goals.

Preparing for the bank exams from the right study materials is very important. A person should have a fair idea about the type of questions that are generally asked in the bank exams, so that he can get the right study materials. Only consistent hard work and studying from the right study material will help you to clear the bank exams successfully. In order to get the right study materials, you can get guidance from people who have already given these types of exams. There are also many coaching classes which are held specifically for bank exams, and enrolling yourself in the same can help a person because they provide all the relevant study materials and they also conduct classes through which one can easily learn the tricks to solve the bank exam questions.

There are certain booklets that are received by a person from the bank once they fill up the application form, but it should be noted that these notes are not sufficient for the preparation of bank exams. Therefore all the appropriate study materials should be procured so that one can gather the knowledge that is necessary for clearing the bank exams. Internet can act as a great help in the preparation of bank exams because through it you can get the knowledge regarding the changes that had transpired in the banking industry. Vocabulary is an integral part of the bank exams and enhancing your vocabulary will help you get a better grip on the exams. A separate section in the bank exams is allotted for reading comprehensions and here it is important to have a good vocabulary, so that these sections can be tackled properly. Having a strategy for bank exams is equally important because it will help you to have the right approach during the exams. At times, many people study well for the exams but they do not create any strategy which needs to be followed during the time of exams and therefore it becomes a bit difficult for them to solve the questions, because they do not know how to manage their time on critical questions. A good knowledge about the banking regulations can help you for the bank exams and also for the bank interview as well. You can get news about the recent bank regulations through the internet. There will be many questions in the bank exams, which might be confusing or you might not feel confident about certain questions, it is recommended that one should not attempt such questions. With the right preparation and patience, one can clear the bank exams comfortably.

What is a Systematic Investment Plan (SIP) ?

The Systematic Investment Plan (SIP) is a simple and time honored investment strategy for accumulation of wealth in a disciplined manner over long term period. The plan aims at a better future for its investors as an SIP investor gets good rate of returns compared to a one time investor.

SIP is a way of investing regularly in mutual fund schemes. Through this, you can invest a fixed amount (as low as Rs 100 and in multiples thereafter) monthly or quarterly for a pre-determined period in a fund. Units are allotted to you at the net asset value existing on the day of investment.

Besides mutual funds, some brokerages and gold exchange-traded funds have also started offering this option. With brokerages, you can dedicate a specific amount towards buying pre-decided scrips in tranches each month.

How to get started?
First, select the scheme, investment amount and the time frame. Next, approach a mutual fund distributor or the fund house with your application and know-your-customer (KYC) documents. You can also invest through an online mutual fund portal. Typically, fund houses mandate investment for a minimum of six months or two quarters. So, you can either give post-dated cheques for the period or opt for the auto debit/electronic clearing system option. Remember, while you can start investing on any day of the month, you will have to pick a date for subsequent investments. That is, each mutual fund specifies dates for SIPs, like the first, seventh, tenth of each month.

What are the advantages?
SIPs are highly recommended as they inculcate a habit of disciplined and regular investing. If you choose the auto debit option, the process is completely hassle-free. The most important advantage is that they follow the rupee cost averaging principle. Say, you invest Rs 1,000 a month. And, the price of the chosen scheme unit is Rs 10 in the first month. You will get 100 units.

Next month, the unit price falls to Rs 9 and you are allotted 111 units. In the third month, the price drops further to Rs 8, getting you 125 units. Thus, by investing Rs 3,000 over three months, you have got 336 units.

In contrast, had you invested the entire amount in the first month itself, you would have garnered just 300 units. In case of SIPs, the average unit cost is about Rs 8.9 as compared to Rs 10 in case of lump sum investments. Thus, SIPs help lower the average unit cost and buy you more units. All, by eliminating the need to time the market.

How are the investments taxed?
If units of an equity-oriented fund are held for more than a year, any gain arising on their sale is considered as long-term capital gain (LTCG) and, hence, is tax-free. However, if you sell them off within a year, gains, if any, are considered as short-term capital gains and taxed at a flat rate of 15 per cent. The same rules apply to SIPs accompanied by the first in-first out principle. From a taxation perspective, each SIP installment is considered a separate investment and must be held for at least a year to be eligible for the LTCG benefit.

Indian Railway Useful Links

The first railway on Indian sub-continent ran over a stretch of 21 miles from Bombay to Thane. The idea of a railway to connect Bombay with Thane, Kalyan and with the Thal and Bhore Ghats inclines first occurred to Mr. George Clark, the Chief Engineer of the Bombay Government, during a visit to Bhandup in 1843.

The formal inauguration ceremony was performed on 16th April 1853, when 14 railway carriages carrying about 400 guests left Bori Bunder at 3.30 pm "amidst the loud applause of a vast multitude and to the salute of 21 guns." The first passenger train steamed out of Howrah station destined for Hooghly, a distance of 24 miles, on 15th August, 1854. Thus the first section of the East Indian Railway was opened to public traffic, inaugurating the beginning of railway transport on the Eastern side of the sub-continent.

In south the first line was opened on Ist July, 1856 by the Madras Railway Company. It ran between Vyasarpadi Jeeva Nilayam (Veyasarpandy) and Walajah Road (Arcot), a distance of 63 miles. In the North a length of 119 miles of line was laid from Allahabad to Kanpur on 3rd March 1859. The first section from Hathras Road to Mathura Cantonment was opened to traffic on 19th October, 1875.

These were the small’s beginnings which is due course developed into a network of railway lines all over the country. By 1880 the Indian Railway system had a route mileage of about 9000 miles. INDIAN RAILWAYS, the premier transport organization of the country is the largest rail network in Asia and the world’s second largest under one management. 

Useful Links of Indian Railways

How to Avoid Online Scams

Friends,

Now a days, every one of us could receive a mail regarding winning of Lottery or your mail have won a prize like messages. Be aware. Don't go for these type of mails. When looking to buy a product or service from someone online, there are steps you can take to keep from being scammed. You can get an amazing deal on some items if you know where to look. But sometimes these deals jump out in front of you and are seemingly too good to be true. This is your first sign that the great deal is either not true, or deserves more investigation.

When an offer comes looking for you, you should become a skeptic and think through some of these points. There are plenty of scams on the Internet for you to stumble into, but many online scams come looking for their victims instead of the other way around. The fact that a deal comes to you is the first clue that something may not be completely honest.

Not all online scams will come looking for you though. It is possible that you are searching for a certain service and land upon the deal of the century. Remember that you probably found the offer as a result of an online search. Spend a few more minutes finding out more about the company or individual before diving in.

You may receive an email (or phone call) telling you that you have won a lottery in which you never bought a ticket. Or you may be contacted to help out a person in need. Usually these requests have a simple set of steps you have to go through to cash in your part for helping.

Steps to Avoid Online Scams
Trust your instincts. Legitimate sellers concerned for their customers are not pushy and confrontational. Scammers don't have the time nor patience to give good customer service. They either won't answer your questions or won't answer honestly. If your immediate thought is that something does not seem right, it probably isn't. This concept is covered in detail in Malcolm Gladwell's book Blink.

Research the seller or company online. Try to get an idea of their reputation. If it is a service, then ask for reviews and samples of their work. For example, online marketers should have plenty of examples on the Internet that they can point you to. This lets you see their production quality. Marketplaces which allow buyers to rate sellers are a good place to dig around for information about the person making the offer.

Be aware of high up-front payments. Con artists and scammers who try to make quick money will insist on doing a big transaction if possible. They are not willing to wait for you to get a sample of their work by ordering a smaller amount. But you should still be cautious even if you do a small transaction first. Online scams that are well planned may be willing to take their time to pull you in for a larger amount. With smaller transactions you risk little even if they do scam you for the smaller amount.

Don't let emotions alter your judgment. A good con artist knows how to play on people's emotions and passions. Try to explain the offer to someone else who is not emotionally attached to the deal. They can look at things with a greater sense of clarity and help you think through some of the pitfalls before you.

Don't make a hasty decision. If the deal is a good deal now, it will still be a good deal tomorrow after you think about the opportunity. Online scams play up the urgency of the offer. This does not mean that everything that has a time limitation is a scam, but many people perpetrating a scam are not patient.

Check out the prices for similar goods and services. Be wary if the offer you are given is considerably lower than the price other people are offering the same service. Knowing what you should pay for said service or product will help you avoid inferior goods. This is where seeing samples of the person's work will help you make a more informed decision.

Don't install any software at the person's request until you can completely vet the situation. Having to install software to get the information you need is a tip that something is not legitimate. Many online scams which spread through social networking sites like Facebook require that you grant access to applications to see a video or get more info. Is giving up your personal information worth being able to see a steamy video?

A person who is legitimate will not mind you asking lots of questions and insisting to get more information. However, someone trying to pull off an online scam will get uncomfortable or become impatient with your questions. Be insistent. If the one selling the service gets irritable, even if they are legitimate, they are proving that they aren't the type of person you want to work with.

The biggest thing to remember is that if something sounds too good to be true, it probably is. Trust your instincts. Do your research and insist on seeing reviews or samples of the person's work. Keep your wit's about you and take your time thinking through the offer. Then do your friends and family a favor by warning them of the type of online scam that someone tried to pull over on you. You could save them from some heartache.