Insuring parents helps fiscal health
Until now, if an individual bought health cover for his spouse and dependent children, he could avail of a deduction of Rs 15,000 on his taxable income. Now, he'll get additional deductions if he buys health insurance for his parents. The deal becomes sweeter, if the individual's parents' are senior citizens. In that case, the assessee can claim a deduction of Rs 20,000. Additionally, senior citizen parents, buying health covers for themselves, can also avail of the Rs 20,000 deduction that was made available to them in last year's Budget. In recent times, health insurance premiums have risen 20%-30%. However, senior citizens have borne the brunt of the increases with some policies being loaded with additional premiums of upto 400%. Also, health care costs are estimated to rise at 22% on an annualised basis.
Union Budget gets mixed reactions from edible oil industry
Hyderabad: The edible oil industry is separated over the proposals made in the Budget. While the Central Organisation for Oil Industry and Trade (COOIT) senses the move to not cut Customs duty on edible oil is a welcome feature, the Solvent Extractors Association feels several demands of the sector have been unnoticed. Welcoming the focus and thrust on agriculture, Mr Davish Jain, COOIT Chairman, sensed the decision to carry on with the current customs duty structure on import of edible oils will encourage the indigenous cultivation of oilseeds, and also motivate farmers to increase productivity through better packaging of practices and inputs. Both the bodies asked the Government to set up an Oilseeds Development Fund.
Final goodbye for early web icon
A web browser that gave many people their first experience of the web is set to disappear. Netscape Navigator, now owned by AOL, will no longer be supported after 1 March 2008, the company has said.
In the mid-1990s, as the commercial web began to take off, the browser was used by more than 90% of people online. Its market share has since slipped to just 0.6% as other browsers such as Microsoft's Internet Explorer (IE) and Firefox have eroded its user base. The company recommends that users upgrade their browser to either Firefox or Flock, which are both built on the same underlying technologies as Navigator.
Grain traders unhappy over non-reversal of service tax on lorry freight
Madurai: The Tamil Nadu Foodgrains Merchants Association, while hailing the Union Budget for 2008-09, has showed disappointment over the non-reversal of service tax on lorry freight, imposed on traders. In a statement, the association, while hailing the steps of increasing the threshold exemption in personal income tax, tax exemption for women, senior citizens, introduction of commodity transaction tax, five-year holiday for hospitals, debt waiver and relief for farmers, set up of 16 Central universities, higher allocation for education and health, has appealed to the Finance Minister to consider its request for a reversal of service tax on lorry freight imposed on traders, in the larger interest of the trading community.
PLDT unit SPi named among top 100 BPO firms
Local firm SPi was included in this year's Global Services 100 rankings of top BPO (business process outsourcing) service providers. SPi is a subsidiary of ePLDT, the information technology unit of the PLDT Group.In a disclosure, ePLDT said SPi was ranked third in the "Leader, Emerging Asian Markets" category in the 2008 Global Services 100 survey, issued by India's Global Services magazine and outsourcing advisory firm neoIT. SPi was also ranked sixth in the "Best Performing BPO Provider" category and ninth in the "Leader, Human Capital Development" category. The Global Services 100 is a ranking of the top service providers in the world.
Nasscom-McKinsey Report Predicts Good Times for RIM Industry
The Rising Remote Infrastructure Management Opportunity: Establishing India's Leadership' conducted by McKinsey & Company for NASSCOM, the $524 billion infrastructure management services (IMS) industry - that manages an enterprises core IT systems, including hardware, software, connectivity and people - could become as important as the Application Development and Maintenance (ADM) and Business Process Offshoring (BPO) segments that dominated the rise of offshoring in the last decade. The IMS industry is moving towards a remote delivery model where services are increasing delivered by vendors and captives from low-cost locations.
Web Development Delhi Services to Deliver Software Solutions
Web Development companies in India deliver various web related services. Unisoft Technologies is a web development company located in capital city of India, New Delhi from where the company serves various kinds of software solutions. These services are website designing, software development, e-commerce solutions, web content development, client/side server side coding and much more. The company has team of highly experienced professionals, consultants, and resources having domain expertise to yield good result to even complex projects.
IT companies rush for SEZs
Commercial real estate space in Software Technology Parks, or STPI, space may witness a correction in rental rates to the tune of 15% across the country before the end of the year. That is because IT and ITES companies are making a beeline for SEZ space, after the FM failed to give any indication of an extension of the STPI tax holiday in the Budget.
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