Wednesday, 31 July 2013

Last date of filing Income Tax Return for AY 13-14 is extended

Last date of Income Tax Return AY 2013-14 extendedLast date of filing Income Tax Return for the Assessment Year 2013-14 is extended from 31.07.2013 to 05th August, 2013. Central Board of Direct Taxes issued a notification today under section 191 of Income Tax Act 1961. Due to the rush of Income Tax Payers to file their Income tax return online the website of online filing of Income Tax Return is very slow these days. This extension of the due date of Income tax return gives them a relief. This year those who have income of Rs. 5 Lakh or more should file income tax return online. See the notification

Last date of filing Income Tax Return for AY 13-14 is extended


 

Saturday, 20 July 2013

Beneficial Tips for Landing a Finance Job

Finance has always been a popular career path for young men and women fresh out of college who want to become millionaires or entrepreneurs by the time they are in their 30’s. Unfortunately, things aren't that simple. Finance is actually an incredibly competitive profession. It's tough to find a job as recent graduate anytime—and when the economy isn't doing well, it can be even harder.

Landing a great job in finance is tough, but it's not impossible. Here are just a few tips that job seekers might find beneficial as they search for their dream careers in finance.

Find an Internship

One common complaint that job seekers have is that they need work experience to land a job, but they don't have experience because nobody will hire them. Entry-level jobs are practically designed for those with little to no experience, but even finding these can be tricky in a volatile job market. To ensure that young job seekers get the work experience that so many employers look for in applicants, many of them look for internships instead. An internship is much easier to land than a job in most circumstances, especially for college students or recent graduates. Taking the time to complete one or more internships also shows a great work ethic, something that is especially valuable in finance. Another great benefit of having an internship in the finance industry or at specific firm is the amount of useful, professional contacts that are created. Many of these will be extremely useful down the road.

Start Early

Most people look at part-time jobs that they have when in school as simple jobs that they only do until they're done with college. Instead of working as a cashier or fast food restaurant, take the time to look for internships or entry-level finance jobs. This will give you the opportunity to gain valuable experience before you are "officially" in the job market. If commuting is out of the question, consider looking for a position with your college’s finance or economics department.

Seek Out Diverse Experiences

Completing several internships is a great way to show that you have a strong work ethic, but they are especially valuable if they provide several different experiences. Having an internship in fixed income, another in equities, and yet another in portfolio management will make your resume will look that much more impressive to employers.

Educate self about the World of Finance 

Most people who want a career in finance probably majored in something related to it, but this isn't the case for everybody. Many liberal art majors or those who otherwise have little educational background in finance apply for jobs in the industry, and employers will be glad to interview them. After all, skills like communication can be inherently valuable in the finance industry. However, you should still take the time to educate yourself about the finance industry and financial news or media outlets before looking for a job in finance. You should be able to discuss at least some of the ins and outs of the industry with your employer, if only because it will show that you are invested in this career path and are willing to learn.

No matter what the job market looks like at any given time, the real key to finding a job is persistence. As a recent college graduate, the odds will be against you: your resume will be lumped together with countless other applicants, many of which will be highly qualified and possibly have more experience. Just remember that there is a job out there for you and your unique skills—and if you follow these tips you will be closer to finding it.

This article was written by Thomas Stern, who is a financial adviser, freelance writer and technology enthusiast. Thomas recommends doing more research on the industry, and checking out other resources like finance jobs with moneyjobs.com

Beneficial Tips for Landing a Finance Job


 

 

 

 

 

Wednesday, 17 July 2013

E-filing of Income Tax Return online is mandatory

E-filing of Income Tax Return online is mandatory for the following Tax Payers.

1. Those who have a taxable income more than Rs. 5 Lakh in the financial year 2012-13 (A.Y 2013-14) , should do E-filing of Income Tax Return online. Whether the person is an individual, H.U.F or Artificial person (other than companies those who are filing ITR-7) should file an online income tax return.

2. A resident  Individual or HUF having any type assets outside India

3. A resident Individual or HUF is a signing authority in an account located outside India.

E-filing of Income Tax Return online4. An individual, HUF or Firm whose accounts is required to be audited as per income tax act.

5. Those who claim any relief under section 90 or 90A.

6. Those who claim any deduction under section 91 of Income Tax Act.

7. All those who required to audit their accounts under clause (iv), (v), (VI) or (VI a) of section 10 (23C) or section 12A (1) (b) of the income tax act.

8. All those who required to file audit report under sections 10A, 44AB, 80-1A,1B,1C & 1D, 80JJAA,  80LA, 92E or 115JB of income tax act.

The above mentioned income tax payers should do  E-filing of Income Tax Return online for the financial year 2012-13 (Assessment year 2013-14)

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Monday, 15 July 2013

1004 Nurses Vacancies at AIIMS

All India Institute of Medical Sciences (AIIMS), Ansari Nagar, New Delhi invites applications for 1004 Nurses Vacancies at AIIMS (Sister Grade – II) in the prescribed form. Those who are eligible for the post can apply online as per the details below:-

Name of Post: Sister Grade – II

Qualification : Should have passed matriculation or equivalent with Cerificate in General Nursing & Midwifery. The candidate must be a registered A Grade Nurse and Midwife with state nursing Sister Grade – II Vacancy at AIIMScouncil.

Age Limit: Upper age limit is 30 years.

Dates for Application: The application can be submitted online from 15th July, 2013 to 05th August, 2013.

Date of written test: A written test will be held on 25th August, 2013 (tentative) at Delhi.

Date of result declaration: The tentative date of result declaration will be on 05th September-2013.

No. Of posts: There are Total 1004 Nurses Vacancies at AIIMS. Out of these 532 vacancies are in General Category, SC-145, ST-70, OBC-257 (PH-35)

Pay Scale : PAY BAND-2   Rs. 9300-34800  (Pay Scale) Rs. 4600 Grade Pay

Application Fee: An application fee of Rs. 500 (Rs. 100 for SC & ST Candidates) to be paid through Challan at SBI (Challan forms can be downloaded from the website) or can be paid online through Credit card or debit card.

For more details about the 1004 Nurses Vacancies at AIIMS, read the  recruitment notice

Those who wish to apply for the post visit here for registration and submission of application for 1004 Nurses Vacancies at AIIMS, New Delhi.

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Sunday, 14 July 2013

Oil Well Drilling – How Can Investors Seize this Opportunity?

The U.S is Promoting Oil Well Drilling – How Can Investors Seize this Opportunity?

For most of the 20th century, the United States served as the world's largest producer and processor of petroleum products. States such as Texas, Oklahoma, and California were major oil producers that dominated the market and controlled world prices through the use of organizations such as the Texas Railroad Commission. In dire times, the United States was always seen as the supplier of last resort, as it could release excess capacity and flood the market with cheap oil. However, due to dwindling supplies and the availability of cheap oil through the Middle East, Central Asia, and North Africa, American oil supplies lost their profitability and the United States became a net energy importer.

Recent Changes in the Oil Industry

Recently, however, innovations within the oil industry such as hydraulic fracking have increased the profitability of American oil deposits. Due to this trend and the rising oil prices experienced during the 2000s, the United States is experiencing a drilling renaissance within a number of states.

North Dakota and Texas have been the main beneficiaries of this onshore drilling renaissance, as these states possess vast unexploited reserves that were previously unprofitable to extract. The exploitation of the Bakken formation in North Dakota has led to high population and employment growth in the area as individuals from across the country relocate in the pursuit of employment. Furthermore, the state has experienced a billion-dollar budget surplus due to the vast increases in tax revenue, and the local economy operates above full employment. It is hoped that the new technological innovations can repeat this occurrence in other regions of the country and improve the national economic outlook.

Extensive Profits in Texas

Texas has also experienced a growth in petroleum extraction due to the high oil prices and new drilling technologies. The rising prices have increased the profitability of a number of fields, and this growth in the energy sector has allowed Texas to avoid many of the effects stemming from the 2008 financial crisis. As the center of the energy sector, Texas benefits from increased oil well drilling throughout the country, as the state serves as the headquarters for a majority of firms in the industry. Due to this, a number of the profits from drilling in other states is repatriated to the state, and serves to boost the local economy.

Mutually Beneficial Government Practices

Local, state, and federal governments have been very keen on the promotion of onshore oil drilling in these states. Due to the current economic climate, there has been a marked drop in government revenues and employment numbers. By promoting onshore oil drilling, governments hope that they can increase domestic employment and tax revenues, as well as lessen the dependence of the United States on oil exports. As has been seen in the previous decade, the dependence on oil imports from volatile regions of the world has led to the involvement of the United States in numerous local conflicts to secure access to these resources. The federal government is expecting that the change from a net oil importer to a net oil exporter will allow the United States to pursue a more hands off foreign policy that will lessen the risk of the nation being dragged into conflict in the Middle East and North Africa.

Currently, analysts expect oil well drilling and extraction to continue to grow in the United States for a number of years, and anticipate the return of the United States as one of the largest exporters of petroleum products in the world.

Byline: Guest writer Jamie Decker has recently began expanding his investment portfolio. Understanding the value of diversifying his finances, he is currently learning how to invest in oil.

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Tuesday, 9 July 2013

Plan Investments for Emergencies

To live a life away from stress and problems you must start saving money for urgent and unexpected situations. These days saving money has become a bit difficult as the expenses are higher and all the hard earned money gets spent, and you are left with no cash at the end of the month. However it is advisable to cut down your monthly expenses and start saving some funds for your further use. There are few useful points that can helpful to plan out savings.

Administrate your Finances:

To manage money correctly, you require doing some homework, look out for different investment plans, open a savings account and put some fund for emergencies. Revise your monthly budget and try to wave away some unusual desires. These days it is difficult to live life without money. Therefore it is important you save some money for your old age. Look out for good retirement plans so that you can secure your family financially when you have no work.

Savings for Retirement:

Retirement is predictable, prior preparation will not get you into financial problems. There are many insurance companies that are offering retirement policies you can try getting one that matches your budget. Remember one thing living a life with no money in old age is very hard as there are many expenses and each time you cannot get forward ask money from your children.

Preserve funds for Emergencies:

Now emergencies are unpredictable and can occur anytime, emergency can be of any kind for instance the head of the family may lose his /her job, any family member can get ill, your vehicle might get spoiled and many others. Keeping some fund aside for unexpected situations will help you resolve the problems easily and you can remain calm even in times of crisis. Try to place more money as funds so that you may not end up taking loans and putting yourself into more troubles.

Fulfilling Big Desires:

If you wish to buy a car or a house, you will a need a huge amount for procuring them. In this case you need to make proper planning’s and try to save some amount in the bank as fixed for few years so that you can earn more by gaining interest on the saved money. Apart from these there are many other requirements such as your child’s education, planning for vacations and so on. Make a proper list of your future requirement and plan out schemes of saving money. Money is important, but taking out leisure time with family is also important in life. Remember one thing life is short so give some time for enjoyment as well. Spending money on vacation is all essential as you also need some entertainment apart from hard work.

If you have your own vehicle, then you can avail Breakdown Direct repair covers that are been offered by many motor insurance firms. This will be useful in times of difficulties; you will just require contacting their agents for assistance.

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Common Types of Tax Return Errors

If it's that time of the year again and you're busy completing all the complicated tax return forms, remember to check and double check all your information before you file. Unfortunately, errors are a common occurrence and can end up costing you a pretty penny. Not even the IRS understands the tax code completely and the IRS commits its fair share of mistakes as well, so you're not always at fault. Some of the common mistakes the IRS commits include sending a check for the wrong amount or not sending a check at all.

Married or Single?

Tax returns are calculated according to your status on the last day of the year, December 31. For example, you are filing tax returns for 2012 and you got married in January 2013. You might want your married status to be reflected in your tax documents, and so you claim you are married when filling in the form. Unfortunately, you have just committed an error because you were single in December of 2012.

Another common error is to file separately, despite being married. There is a significant percentage decrease in tax if you file jointly, which can save you a lot of money in the long run.

Social Security

You don't want to be audited just because you typed in the wrong social security number so make sure it's right before you submit. If you're submitting a paper form, write your social security number clearly. Also, enter the social security number of your dependents just once in the form. If you are divorced, either you or your spouse can claim the children as dependents, but not both of you.

Sign Your Return

A large number of people commit this embarrassing gaffe each year. Not signing your tax return can cause you a headache in the future. The IRS is famous for the enormous backlog it constantly tries to get through. Don't be surprised to get a call from an agent several years later asking why you didn't file your tax return, when, in fact, you did.

Make Copies

Make copies of all the documents that you send to the IRS and keep them in an easily accessible place. If the IRS commits an error, which happens often, you can then send these documents as proof of you filing your tax return properly.

Calculate

Are you filing in the right amount? It's difficult to keep a straight head after plowing your way through reams of IRS documents. Many people enter the wrong amount, which holds up the tax return process for several days until the IRS corrects the error. You can use tax return software to ensure that you have entered the right amounts on the form, because the program will make the calculation for you.

Before filing, make sure you have attached all the correct forms and determine if you qualify for AMT (alternative minimum tax). If you need to amend your tax return or to pay additional tax, browse the IRS website for the forms you need to complete and return. The processing time for amended tax returns can be anywhere between 8 and 12 weeks.

This article was written by Chase Moreno, an MBA student who hopes to become a financial advisor in the future. For more information on tax return errors, and help with these problems Chase recommends contacting professionals, like those at www.glbtaxservices.com/unfiled-tax-returns

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