[caption id="attachment_3577" align="alignleft" width="203" caption="Photo courtesy: ezineinhindi"][/caption]

The Union Budget 2010 presented by Finance Minster Pranab Mukerjee has been received with mixed feelings throughout India. Here is a glimpse into Budget 2010 which has been termed a ‘unimpressive’ by some and ‘welcoming’ by others.

BUDGET-2010

1. Fiscal deficit for 2010-11    5.5%.

Projected Fiscal deficit for 2011-12  4.8%

Projected Fiscal deficit for 2012-13  4.1%

2. Direct Tax Code will be introduced from 1.4.2011.

3. G.S.T. will be levied from 1.4.2011.

4. Return in Saral 2 form can be filed by salaries individual.

5. No change in Service Tax rate.

6. Advalorem excise duty increased from 8% to 10%.

7. New rate for individual/HUF is as under: -

Income does not exceed Rs.1, 60,000   - Nil

Income between Rs.1, 60,000 to Rs.5, 00,000  - 10%

Income between Rs.5, 00,000 to Rs.8, 00,000  - 20%

Income exceeding Rs.8, 00,000   - 30%

It means monetary gain/savings of Rs.51, 500 for individual having taxable income of Rs.8, 00,000.

8. No change in Rs.1, 00,000 investment in Section 80C but additional deduction of Rs.20, 000 for investment in infrastructure bond.

9. No change in income tax rate of Company but surcharge for Company having taxable income of Rs.1 Crore has been reduced from 10% to 7.5%.

10. Book profit tax or MAT under Section 115JB has been increased from 15% to 18%.

11. In house R & D expenditure will be allowed to the extent of 200%.

12. Contribution to college and other institutions doing R & D will be allowed 175%.

13. Tax audit limit under Section 44AB has been increased from turnover of Rs.40 lakhs to Rs.60 lakhs for business and from Rs.10 lakhs to Rs.15 lakhs for profession.

14. Limit for presumptive taxable income @ 8% of profit and gain on business increased from Rs.40 lakhs to Rs.60 lakhs.

15. Interest @ 18% per annum will be levied on delay of deposit of TDS.

16. For Charitable trust income from business upto Rs.10 lakh will not disqualify registration as charitable trust.

17. 2 more income tax return processing centre will be set up in addition to Bangalore.

Floriana concept marble is the first ever brand to introduce branded marble retailing in India

Imagine this. A well-constructed bungalow in a plush locality of Noida, furnished with varnished marbles bearing a diamond-like glow and complemented with paper plain walls, jeweled chandeliers and swanky masterpieces. Wow! What a perfect home. Looks like SVIL Mines Limited world’s largest Marble-processing unit sensed our desires and hence opened the first of its kind concept marble boutique in Noida, to make our dreams come true.

With a plan to launch 300 retail stores across India, Floriana concept marble brings to you pre-polished, calibrated, fit to size and ready to use natural marble first time in Noida at sector 49, Marble market. Natural marbles come in various distinct sizes and types to make our ambience look sophisticated or simple, warm or cool, elegant or rustic in the most natural way.

Those who were traveling to Delhi, Mumbai, Bangalore, Kolkata Jalandhar and kanpur to buy Floriana marbles can now catch a dekko at their first Noida store. On the launch Mr. Sanjay Jain, Chairman Floriana Group said “We are really excited at the launch of Floriana Concept Marble retail store in Noida. It is a very fresh and innovative concept in India, Floriana Marble will be equivalent to the glaze of mirror and will be unmatched by any other marble brand for its quality, finish, product benefits and applications”, he further added “the Group has a plan to open 09 more stores in Uttar Pradesh in the cities like Lucknow, Merrut and Muradabad just to name a few and each store will offer a perfect ambience and purchase experience which includes concept display and advice from trained experts in architecture and interior design to assist customers makes the right choice and the support of providing trained masons to lay the marble”.

What Floriana has in store for us?

Floriana processes marble up to 3mm thin - by far the thinnest in the world. To add to the excitement, it offers whole new dimension in marble thickness - 5mm, 7mm and 10mm with the conventional 20mm. Florina concept marble now surprises us with-

Three different variant of product range; Big size marble slabs in size as big as 3×2 mtrs, marble in a tile format of 300×300mm, 450mm x 450mm and 600mm x 600mm.

And the very innovative product ‘Convinio’ for the first time in the country, which is thin natural marble combined with various other materials like glass, steel and aluminum honeycomb for various innovative applications.

Dream homes are made with fancy products, hence these innovative ones can be used for drawing a wall partition or for external and internal wall cladding, modular kitchen top, modular floating floor, elevator, false ceilings, furniture etc.

The Floriana marble, touted to offer a one-stop Marble solution to consumers, has become a must-visit on our chart. With so much baggage attached to the group and a heavy investment of Rs. 650 crore in this ambitious project, it would be interesting to note how does it fare on Noidaites scoreboard. Once you visit the premier store, leave a comment here on its range, prices and services.

Even though many of us lugged the message of Taare Zameen Par with tears and resolutions, some academics fans still inhabit a desire to make their students and children toppers and academicians. However, the vaulting ambitions of generation next do not take long to be realized, if they are fed with creativeness and ingenuity.

The exemplary success story of Isha Das, a class tenth student and also a noted Odissi dancer, pins down our typical belief and incites us to desire and dream. Already a star in Noida for her impeccable dance performances, Isha has a rich experience of 10 years in Odissi dance. At just 15, this little star has delivered over hundred performances at zonal and sub-zonal level.

Isha is an acolyte of Deb Prasad Das gharana. She is being trained by the most revered Odissi dancer, Jyoti Srivastava, also a director of Nehru Institute of Odissi Research and Training in Delhi. Isha bumped into this unconventional dance form on TV and hence got smitten by it so much that she finally resolved to pursue it. “When I was young I used to remain glued to television. Once I noticed an Odissi dancer and realized that I should also be like her and I started working on it. Soon I got a dance teacher close to my house and started learning,” says Isha.

Isha bagged the first prize at a Youth festival organized in 2007 and second prize in 2008-2009. At this tender age, she has registered success by winning numerous awards at MTNL Health mela, Nehru Bal Samiti (Gold medal), Arya Vidya Sabha. Her profile also boasts of various workshops, which she has attended with various renowned dancers like Ramli Abraham, Durga Charan Ranbir and Gangadhar Pradhan. A very well known face in Puttaparthi Satya Sai Ashram (near Bangalore) and Sadagat Ashram in Rishikesh for her talent, she has also performed at World Dance Day, International Yoga Festival, Trade Fair (Shakuntalam theatre).

For this talented girl world is her oyster, but that doesn’t keep her away from studies. She takes her classes seriously and also manages time to attend her practice sessions. In this hip-hop generation, choosing a cultural dance form, of course, makes her choice unconventional but she pursues it for her inner urge. “I know that Odissi is not a saleable item in Bollywood but I am still learning the dance because I want to do it for my inner urge. Dance is a respectable subject and it cannot be measured in monetary terms,” she says.

Currently enjoying the coveted state-level scholarship from CCRT (Centre for Culture and Research Training), Isha feels she wouldn’t have been able to make it without her parents’ support. Despite of coming from a non-dancers family, her parents have propped her lot, as she says,” my parents mother Aarti Das and father AK Das respect my feelings and supports me a lot. They always join me when I go on tour”.

Now, how does Isha manages her career would be an object of interest, meanwhile if you have a similar inspiring story or know somebody who can be a muse to several others, please write into us.

Noida Authority board is all hailing and smiling, for its few recent moves have brought a smile on the faces of locals. When Suket Kumar Singh, an employee of a private firm based in Noida learnt mobile food vans are once again being allowed on the city roads, his happiness knew no bound. Apparently, a foodie, he was facing a real hard time once these food vans were disallowed for the dishes being prepared in grubby conditions. But, like others he has got a reason to rejoice after the NA board showed a green signal to the stationing of mobile vans near schools, institutions and corporate houses. As decided in the 158th meeting of NA board, food vans will also be allowed to set up shop in residential and industrial corners of the city.

On the exciting comeback of his favourite food van, Suket said,” I was missing its spicy Hakka chowmein, veg manchurian and those tasty chicken momos for long, but finally I can spice up my taste buds to savour all these in few days to come and will soon enjoy a sabbatical from the conventional ghar ka khaana. As soon as I found out mobile food vans will be back on the city roads, I started drawing my wishlist.”

Whether food vans will be parked at the same location is a matter of free will of the van owners, as they are given the right to decide strategic locations of their makeshift outlets. Such mobile vans will be set up across the city as per the need and demand of the area. However, NA has taken the task of ensuring disruption-free placement of mobile vans earnestly. Owners should station their mobile food joint at a place where it doesn’t disrupt traffic or cause inconvenience to public. Mobile van owners would be required to pay Rs 120 per square meter as fee to NA. As per the plan, these vehicles will be leased out for a period of 12 months and will be subject to renewals only twice.

With this major grant, many food buffs would now snap the opportunity to lovingly lighten their wallets and savor their favorites within a reasonable price range.

Though allowing food vans on streets has made many happy, there are few who still think NA ahould reconsider its decision. According to Shikha Garg, an employee of a Noida-based firm, “I used to see my friends having food from one of such mobile van, prepared in extremely unhygienic conditions, it was a house of flies and mosquitoes.Imagine, you pay money and share your food with surrounding flies and mosquitoes, how dreadful?. I think it is always better to spend few hundreds more and take lunch from a hygienic place. These food vans are a breeding place for deadly diseases”. Criticizing this recent decision of NA board, many feel it is as bad as giving people a right to take drugs. “Either put stringent laws at place, for keeping hygiene and cleanliness up standard or do not bring such vans in surroundings”, claimed Shikha.

Mobile food vans have already divided people in two groups, which side do you favour? What do you think allowing mobile food vans once again on the city roads is a matter of joy or a concern?

In a routine drive check in Noida, the police on Monday arrested two notorious criminals, wanted for murders, attempted murders and robberies in various different cases over the years.

According to Parmesh Kumar Shukla, an officer of Sector-20 police police station, ” The two criminals, Naeem and Nadeem, committed various crimes in Delhi and other places”.

In 2006, Naeem had murdered his sister with the help of his brother Haneef in a case of honour-killing as she allegedly had an affair. He also murdered a trader in Seelampur and was named in two other murders registered at different police stations in Delhi.

Nadeem is the co-accused in many of the crimes committed by Naeem.

From Naeem’s possession, the police recovered a .36 bore revolver, five live cartridges and a knife. “We are interrogating them further and are getting to know about other men in their gang,” said the police.

The Delhi High Court debarred Noida-based Polar Industries Ltd. from selling or transferring its factory premises till the next date of hearing, in wake of a recovery suit pending against them.

Justice Reva Khetrapal issued notices to the company to appear before the court on January 14, the next date of hearing and instructed them not to sell or transfer the encumbered property number A-2, Sector-5 Noida and A-8/A Maharani Bagh of New Delhi.

On having financial obligations to tow, Polar Industries Ltd. tried to scurry by winding off and disposing their estates. It was then, Joy Exports filed a recovery suit of Rs 1,38,79,026 against Polar Industries ltd. for withholding their payment. As per written in the petition, filed by the proprietor of Joy Exports, the cheques issued by Polar Industries in favour of his company bounced for which he issued several notifications and then initiated criminal proceedings against him.

According to sources, Polar industries had a total share capital of Rs 18-53 crores whereas the total losses exceeded Rs 148 crores. Besides Joy exports, Polar industries has to wave off loans taken from IFCI Ltd. Punjab National Bank, Allahabad Bank, Union Bank of India and Bank of Maharashtra

After staying in Noida for a whole month, I vowed never to come back again. At that time, I was interning with a TV channel in sector 63 and stayed close by in a flat with friends and fellow colleagues to make commuting easy. Compared to the hustle bustle of Delhi, Noida seemed like an unorganized, impersonal city with long lonely stretches of road and poor connectivity.

The actual nightmare was the every day commute to work. Though it took only 20 minutes to reach (a marvel by anyone’s standards), those 20 minutes were the worst. From cat calling, haggling with callous auto-wallas to almost being run down by lawless drivers (while crossing roads); it truly was a teeth gritting experience, more so for my Manipuri friend who was constantly bothered with calls like ‘chinese’ and ‘chowmein’.

To go out anywhere on our off days, we walked, changed buses, vikrams, rickshaws and walked again. Moreover, we envied anyone and everyone who owned a set of wheels. In short commuting was a pain.

Four months later, I’m back in Noida, in a different sector with a different firm but the same problem. What’s worse is that this time I have to commute from Delhi and the best and the most economic way to do so is by bus. In these 3 days I have learnt a lot.

There are a lot of blueline buses that go to Noida from ISBT provided you’re ok with literally hanging out of the bus or being cramped in with people who desperately need a shower.

The few Noida Authority buses that run are the most sought after as they take the shortest route possible. However traveling in these is far from comfortable. If you’re lucky enough to get a seat and a partner who ignores you, the one and a half hour ride can even be called pleasant. If not, stand close to a window for fresh air and start elbowing your way to the bus doors a stop early. Ignore offers for modeling, voice modulation etc. In any case, how fantastic can the offer be if it’s coming from someone who travels in a bus?

After all’s said and done, the fact remains that Delhi-Noida and inter Noida connectivity is dreadful. I, for one, am looking forward to the metro which will run from June 2009. Till then, I’ll just have to pluck my courage and carry on or work really hard at my job, get a raise and hopefully, cab service all the way to the office and back!

In current scenario many developers and industry experts feel that this might be the best time to invest in the real estate but do we feel that it will so? Before one year, we all know that real estate was booming and the rates are on their peak but in present these are going marginally down. In point the recent changes many investors are waiting for correction in market. Till the time we can say that the recent crunch has given a good opportunity to exisiting buyers in terms of cash discounts, freebies, free cars, free car parking, No PLC, No EMI till possession etc.

With the worldwide financial crisis playing havoc in the US and European markets, India too is keeping its fingers crossed. Tremors are being felt everywhere - from the stock markets to the rupee exchange rate, and from the spiralling inflation to homeloan interest rates. People don’t seem to have any idea, especially on the eve of a most important festive season. This festive season, owing to the market meltdown, property developers are offering a lot to by way of special discount bonanzas, which include free covered parking space or exemptions from preferential location charges even free cars.

Looking at the market mood, developers have resorted to more innovative ways. For example, discounts are given on the rate per sq ft of the property, reducing its cost. Main discount offers have come up for corporate employees where the developer has their tie-ups. Recent example for the same is SVP group who has started to offer Rs 40 per sqft discount or 10% discount in booking amounts.

The other offerings by the SVP group are 50GM gold coins, Holiday EMIs, No EMI till possession etc.

The realty sector has been one of the worst hit in the face of slowdown. High interest rates and a severe cash crunch have hit realty companies hard.

But for India’s largest real estate developer, DLF, the going is still steady. With a land bank spread over 32 cities, the realtor continues to tap emerging markets.

Operating across various verticals of real estate, the realtor has carved a distinct niche for itself over the years.

Differentiation and identifying growing avenues ahead of competition has made the real estate developer a market leader.

It announced a profit of Rs 18.64 billion during the first quarter of fiscal year 2008, a growth of 23% from the corresponding period last year.

Unitech, the second largest listed real estate developer in India, has a pan-India presence.

With a land back of about 16,000 acres, the developer also has major infrastructure construction projects to its credit.

However, in times of a slowdown, the realtor has changed its product portfolio.

“Our focus has been more on affordable housing in range of Rs 40 lakh-Rs 70 lakh in NCR. The demand is more in this segment now and has slowed down in luxury apartments,” says a Unitech spokesperson.

The realtor is, however, facing a severe cash crunch. Recent media reports said that the realtor has defaulted on two payments worth Rs 150 cr to the Greater Noida Authority on a housing project.

The whiff of default reached the markets around 2.30 pm on Thursday.

Shares of Unitech, India’s second-largest real-estate developer, which opened around Rs 70 and were hovering around Rs 66 at that time, plunged more than 9%.

Late evening came the confirmation: Unitech had defaulted on payment of Rs 150 crore to the Greater Noida Development Authority towards purchase of land, according to sources familiar with the development.

A Unitech spokesperson told DNA Money the possession of the land has not been handed over totally, implying the company was not paying because of that.

“Also, this is the place where construction was stopped due to agitation by farmers. All developers have given letters to the authority demanding rectification as payments are due only on giving peaceful possession and allowing of construction,” the spokesperson said.

Gaurav Pathak and Shaleen Silori, analysts with ICICI Securities, in a report on September 15, said Unitech was among the most leveraged property companies in India. As on March 31, 2008, the company’s debt-equity ratio stood at 2.2x, (debt at 2.2 times equity) with total debt of Rs 8,550 crore, Pathak and Silori said.