Friday, 7 February 2014

[] Section 80EE : Deduction for interest on loan for residential house property


Deduction in respect of interest on loan taken for residential house property(Section 80EE):
Vide Finance Act 2013, an individual is allowed a deduction upto a limit of Rs 1,00,000 being paid as interest on a loan taken from a Financial Institution, sanctioned during the period 01-04-2013 to 31-03-2014 (loan not to exceed Rs 25 lakhs) for acquisition of a residential house whose value does not exceed Rs 40 lakhs. However the deduction is available if the assessee does not own any residential house property on the date of sanction of the loan.
Please Note :-
1. The Deduction is available for two years i.e. for A.Y. 2014-15 A.Y. 2015-16.
2. Total Deduction which can be claimed in Both years in aggregate is Rs. 1,00,000/-.
3.  Deduction U/s. 80EE  is in addition to deduction Under Section 24. So if an assessee is paying interest on Self Occupied Property Purchased during A.Y. 2014-15 of Rs. 2.40 Lakh , he can claim interest up to 1.50 Lakh under section 24 and balance 0.90 lakh U/s. 80EE.  Assessee can claim the balance deduction of 0.10 Lakh in Assessment Year 2015-16.
Extract of Section 80EE as per finance Act,2013 :-
Deduction in respect of interest on loan taken for residential house property.
80EE. (1) In computing the total income of an assessee, being an individual, there shall be deducted, in accordance with and subject to the provisions of this section, interest payable on loan taken by him from any financial institution for the purpose of acquisition of a residential house property.
(2) The deduction under sub-section (1) shall not exceed one lakh rupees and shall be allowed in computing the total income of the individual for the assessment year beginning on the 1st day of April, 2014 and in a case where the interest payable for the previous year relevant to the said assessment year is less than one lakh rupees, the balance amount shall be allowed in the assessment year beginning on the 1st day of April, 2015.
(3) The deduction under sub-section (1) shall be subject to the following conditions, namely:—
 (i)  the loan has been sanctioned by the financial institution during the period beginning on the 1st day of April, 2013 and ending on the 31st day of March, 2014;
 (ii) the amount of loan sanctioned for acquisition of the residential house property does not exceed twenty-five lakh rupees;
(iii) the value of the residential house property does not exceed forty lakh rupees;
(iv) the assessee does not own any residential house property on the date of sanction of the loan.
(4) Where a deduction under this section is allowed for any interest referred to in sub-section (1), deduction shall not be allowed in respect of such interest under any other provisions of the Act for the same or any other assessment year.
(5) For the purposes of this section,—
(a) "financial institution" means a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies including any bank or banking institution referred to in section 51 of that Act or a housing finance company;
(b) "housing finance company" means a public company formed or registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes.
Note:  Please consult your Chartered Accountant for more guidance and further clarification.  This article is just for the general information of the readers.  Errors and Omission are expected.   

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[] Fwd: Easy and Creative Kitchen Solutions!


Easy and Creative Kitchen Solutions! 


We've collected for you a number of easy but creative storage, serving and cooking solutions that will upgrade your kitchen experience!

smart kitchen solutions
Peel the onion to much thinner stripes, using a peeler...



smart kitchen solutions
 Instead of wasting tomato puree, freeze it in a aluminum container and spread the required amount every time you need a bit to cook with.



smart kitchen solutions
Instead of transferring stuffing to a pastry bag with a spoon - and get messy, place the pastry bag in a glass and pour the contents in.



smart kitchen solutions
Cut the top of an apple, remove the contents and fill it with caramel or almond sauce and serve as a dip.

smart kitchen solutions



OR after removing the top part of an apple and its contents, you can pour in apple cider, to serve with a cinnamon stick and slices of lemon. 



smart kitchen solutions
Remove the top of a strawberry, remove the contents and fill it with cheese. You can spread biscuit crumbs on top and voila - a mini cheese and strawberry cake. 



smart kitchen solutions
Bake chocolate chip cookies in the shape of a flower. For that, use the rear side of a baking pan.



smart kitchen solutions
Freeze chopped green onion in a plastic bottle, so every time you need a small amount to cook with, you can 'pour' green onions out of the bottle.



smart kitchen solutions
In an ice tray, freeze raspberries, blueberries, pineapple, grapes etc. Every time you want to serve a refreshing glass of water, add a juicy ice cube with added flavor.




smart kitchen solutions
Fill a balloon up to the wanted size, dip its end in melted chocolate and place on a tray covered in baking paper. Put the tray in the fridge to cool. When the chocolate hardens, blow up the balloon and there you have it - chocolate serving bowls. 



smart kitchen solutions
Put cuttings of herbs such as parsley, cilantro, rosemary, mint, basil etc. in an ice tray, add olive oil and freeze. Next time you cook, you can use these instant flavor enhancers. 



smart kitchen solutions
 Make spaghetti and sausages in a creative way. Stick the spaghetti sticks in the sausages and cook them both in hot water. 



smart kitchen solutions
Fill an ice tray with melted chocolate and pace a strawberry in the middle of each square. When the chocolate hardens, take out the tray and serve a great chocolate and strawberry desert. 


smart kitchen solutions
Insert some chocolate chips to the center of a raspberry, to add surprising flavors! 


smart kitchen solutions
It's always charming to have shaped watermelons

A. Joyce Mal    
 "We shall never know all the good that a simple smile can do" - Mother Teresa   

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[] A Father, a Daughter and a Dog


A Father, a Daughter and a Dog

A true story by Catherine Moore

"Watch out! You nearly broad sided that car!"
My father yelled at me.
"Can't you do anything right?"

Those words hurt worse than blows. I turned my head toward the elderly man in the seat beside me, daring me to challenge him. 
A lump rose in my throat as I averted my eyes. I wasn't prepared for another battle.

"I saw the car, Dad . Please don't yell at me when I'm driving.." My voice was measured and steady, sounding far calmer than I really felt.

Dad glared at me, then turned away and settled back. At home I left Dad in front of the television and went outside to collect my thoughts...
dark, heavy clouds hung in the air with a promise of rain. The rumble of distant thunder seemed to echo my inner turmoil. What could I do about him?

Dad had been a lumberjack in Washington and Oregon. He had enjoyed being outdoors and had reveled in pitting his strength against the forces
of nature. He had entered grueling lumberjack competitions, and had placed often. The shelves in his house were filled with trophies that 
attested to his prowess.

The years marched on relentlessly. The first time he couldn't lift a heavy log, he joked about it; but later that same day I saw him outside alone, 
straining to lift it.. He became irritable whenever anyone teased him about his advancing age, or when he couldn't do something he had done
as a younger man.

Four days after his sixty-seventh birthday, he had a heart attack. An ambulance sped him to the hospital while a paramedic administered
CPR to keep blood and oxygen flowing.

At the hospital, Dad was rushed into an operating room. He was lucky; he survived. But something inside Dad died. His zest for life was gone. 
He obstinately refused to follow doctor's orders. Suggestions and offers of help were turned aside with sarcasm and insults. The number of 
visitors thinned, then finally stopped altogether. Dad was left alone.

My husband, Dick, and I asked Dad to come live with us on our small farm. We hoped the fresh air and rustic atmosphere would help him adjust.

Within a week after he moved in, I regretted the invitation. It seemed nothing was satisfactory. He criticized everything I did. I became
frustrated and moody. Soon I was taking my pent-up anger out on Dick. We began to bicker and argue.

Alarmed, Dick sought out our pastor and explained the situation. The clergyman set up weekly counseling appointments for us. At the close
of each session he prayed, asking God to soothe Dad's troubled mind.

But the months wore on and God was silent. Something had to be done and it was up to me to do it.

The next day I sat down with the phone book and methodically called each of the mental health clinics listed in the Yellow Pages. I explained 
my problem to each of the sympathetic voices that answered in vain.

Just when I was giving up hope, one of the voices suddenly exclaimed, "I just read something that might help you! Let me go get the article."

I listened as she read. The article described a remarkable study done at a nursing home. All of the patients were under treatment for chronic
depression. Yet their attitudes had proved dramatically when they were given responsibility for a dog.

I drove to the animal shelter that afternoon. After I filled out a questionnaire, a uniformed officer led me to the kennels. The odor of disinfectant stung
my nostrils as I moved down the row of pens. Each contained five to seven dogs. Long-haired dogs, curly-haired dogs, black dogs, spotted dogs all
jumped up, trying to reach me. I studied each one but rejected one after the other for various reasons too big, too small, too much hair. As I neared the
last pen a dog in the shadows of the far corner struggled to his feet, walked to the front of the run and sat down. It was a pointer, one of the dog world's
aristocrats. But this was a caricature of the breed.

Years had etched his face and muzzle with shades of gray. His hip bones jutted out in lopsided triangles. But it was his eyes that caught and held my
attention. Calm and clear, they beheld me unwaveringly.

I pointed to the dog. "Can you tell me about him?" The officer looked, then shook his head in puzzlement. "He's a funny one. Appeared out of
nowhere and sat in front of the gate. We brought him in, figuring someone would be right down to claim him. That was two weeks ago and we've
heard nothing. His time is up tomorrow." He gestured helplessly.

As the words sank in I turned to the man in horror.. "You mean you're going to kill him?"

"Ma'am," he said gently, "that's our policy. We don't have room for every unclaimed dog."

I looked at the pointer again. The calm brown eyes awaited my decision. "I'll take him," I said. I drove home with the dog on the front seat beside me. 
When I reached the house I honked the horn twice. I was helping my prize out of the car when Dad shuffled onto the front porch... "Ta-da! Look what I 
got for you, Dad !" I said excitedly.

Dad looked, then wrinkled his face in disgust. "If I had wanted a dog I would have gotten one. And I would have picked out a better specimen than that
bag of bones. Keep it! I don't want it" Dad waved his arm scornfully and turned back toward the house.

Anger rose inside me.. It squeezed together my throat muscles and pounded into my temples. "You'd better get used to him, Dad. He's staying!"

Dad ignored me.. "Did you hear me, Dad ?" I screamed. At those words Dad whirled angrily, his hands clenched at his sides, his eyes narrowed 
and blazing with hate. We stood glaring at each other like duelists, when suddenly the pointer pulled free from my grasp. He wobbled toward my 
dad and sat down in front of him. Then slowly, carefully, he raised his paw.

Dad's lower jaw trembled as he stared at the uplifted paw confusion replaced the anger in his eyes. The pointer waited patiently. Then Dad
was on his knees hugging the animal.

It was the beginning of a warm and intimate friendship. Dad named the pointer Cheyenne. Together he and Cheyenne explored the community.
They spent long hours walking down dusty lanes. They spent reflective moments on the banks of streams, angling for tasty trout. They even
started to attend Sunday services together, Dad sitting in a pew and Cheyenne lying quietly at his feet.

Dad and Cheyenne were inseparable throughout the next three years. Dad's bitterness faded, and he and Cheyenne made many friends. Then
late one night I was startled to feel Cheyenne 's cold nose burrowing through our bed covers. He had never before come into our bedroom at night.. 
I woke Dick, put on my robe and ran into my father's room. Dad lay in his bed, his face serene. But his spirit had left quietly sometime during the night.

Two days later my shock and grief deepened when I discovered Cheyenne lying dead beside Dad's bed. I wrapped his still form in the rag rug he had slept on. 
As Dick and I buried him near a favourite fishing hole, I silently thanked the dog for the help he had given me in restoring Dad's peace of mind.

The morning of Dad's funeral dawned overcast and dreary. This day looks like the way I feel, I thought, as I walked down the aisle to the pews reserved for family. 
I was surprised to see the many friends Dad and Cheyenne had made filling the church. The pastor began his eulogy. It was a tribute to both Dad and the dog who had changed his life.

And then the pastor turned to Hebrews 13:2. "Do not neglect to show hospitality to strangers, for by this some have entertained angels without knowing it."

"I've often thanked God for sending that angel," he said.

For me, the past dropped into place, completing a puzzle that I had not seen before: the sympathetic voice that had just read the right article...Cheyenne 's unexpected appearance at the animal shelter.
...his calm acceptance and complete devotion to my father and the proximity of their deaths. And suddenly I understood. I knew that God had answered my prayers after all.

Life is too short for drama or petty things, so laugh hard, love truly and forgive quickly. Live While You Are Alive. Forgive now those who made you cry. You might not get a second time.

And if you don't send this to at least 4 people -- nobody cares.. But do share this with someone. Lost time can never be found. God answers our prayers in His time...not ours.

To make it nice here is a lovely song as a finale - "Life Is Beautiful" by The Afters


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Thanks to friends who sent friendship rekindlers and for some great music videos.
Its the weekend and all of you deserve the best to be  refreshed for the day.  

Its a great privilege and pleasure in having friends like you. Most of us prefer our style of lives and
its the regular communication that ensures the happy ties. Well here is a great story I wish to share.


A story tells that two friends were walking through the desert. During some point of the journey they had an argument, and one friend slapped the other one in the face.

The one who got slapped was hurt, but without saying anything, wrote in the sand "Today my best friend slapped me in the face".

They kept on walking until they found an oasis, where they decided to take a bath. The one who had been slapped got stuck in the mire and started drowning, but the

friend saved him. After he recovered from the near drowning, he wrote on a stone "Today my best friend saved my life".

The friend who had slapped and saved his best friend asked him, "After I hurt you, you wrote in the sand and now, you write on a stone, why?" The other friend replied

"When someone hurts us we should write it down in sand where winds of forgiveness can erase it away. But, when someone does something good for us, we must

engrave it in stone where no wind can ever erase it."

Moral: Do not value the things you have in your life. But value who you have in your life.

F   -First aid for failures we encounter
R   -Removes our anger in times of frustration
I    -Island of tolerance for our strange tantrums
E   -End of selfishness between us
N   -Never ending association in life
D   -Dependable in times of need

Well in all your honor may I say 'CHEERS"


Here are some unique new age songs for your listening pleasure.        - I'm so lonely broken Angel - Arash and Helena         - In amoment of peace - Gregorian Chants            - Nights In White Satin - Gregorian Chants      - Once in a lifetime - Gregorian Chant


Some scenic photos to brighten your day



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