Saturday, October 22, 2011

Tata Nano Bangladesh

The launch of India's Tata Nano, billed as the world's cheapest car, was delayed at the last moment in Bangladesh after its distributor said Saturday it was seeking a cut in price.
Nitol Motors, Tata's sole distributor in Bangladesh, was due to launch the car at a fair on Saturday but high taxes meant the price tag for the least expensive no-frills Nano would be 599,000 taka ($7,900).
That compares to 141,000 rupees ($2,870) for a basic Nano model in India.
"A lot of people came to us for booking at the fair. At least 23 people confirmed their interest," said Abdul Matlub Ahmad, director of Nitol Motors.
"But we've deferred launch of Nano at the last moment as we're seeking a re-look at the price, which some say is too high."
Both the Nano and other small cars produced by foreign companies such as Maruti are significantly more expensive in Bangladesh as importers have to pay 132 percent tax on each car, he said.
"We anticipate the Nano will be very popular because it is extremely fuel efficient. You can drive more than 25 kilometres (15.5 miles) with a litre of gasoline," he added.
Fuel prices have risen sharply in Bangladesh over the past year due to rising global costs and the phasing out of government subsidies as Dhaka struggles to rein in its soaring imports bill.
The Tata Nano, billed by the company as the "people's car", generated worldwide interest when it rolled off the assembly line in 2008, and the company is already marketing it in Sri Lanka.
When the Nano first appeared in showrooms, it was expected to create a vast new market segment in India, a nation of 1.2 billion people. But its sales have fallen far short of hopes.
Analysts attributed the Nano's poor sales performance in India to concerns over safety, lack of cheap financing and operational hiccups after production shifted to a new plant.
Last year, Tata was forced to offer free safety upgrades after around half a dozen of the cars caught fire.

Tata Nano diesel

The Tata Nano diesel test mules are returning a consistent fuel economy figure between 30-34 kmpl on their highway runs. The sources tell us that the ARAI fuel economy figure could be close to 30 kmpl! 

That is undoubtedly the best in class and should see the Nano bring back some healthy sales figures for Tata in the entry-level small car segment.

Friday, October 21, 2011

How to remit NRO account funds abroad

As part of its liberalization scheme, the Reserve Bank of India has over a period of time made it easier for NRIs to remit funds from India to abroad. As of today, balances in the NRE account are freely repatriable. That is, you do not need any permission for remittance abroad for any amount. Broadly, the funds in this account are usually funds deposited from abroad or in some cases, current income like interest or dividends on investments made through foreign funds. 

Balances in the NRO account are not freely repatriable. But the RBI does allow NRIs to remit up to USD 1 million per financial year from the NRO account, provided you follow certain procedure. The funds in NRO account are usually from income earned locally, like rent on a property in India or certain capital account transactions like sale of property purchased prior to becoming an NRI. 

Remittance procedure 

In order to remit funds from the NRO account, you would need to submit two documents: Form 15 CA and Form 15 CB. The purpose of both these documents is to ensure that taxes are collected on the funds before they are remitted abroad as it becomes difficult to recover taxes at a later stage. Both these forms consist of more or less the same information. The only difference is that Form 15CA is an undertaking by the NRI to remit funds while Form 15 CB is a certification of the information by a chartered accountant. Here is the process: 

Step 1: Submit Form 15 CA - Undertaking of information 

You need to submit this form online on the website of the Tax Information Network . This form will consist of the remitter's information such as name and address of the NRI, permanent account number, complete details of the overseas account to which funds are being remitted etc. It will also contain details of the accountant who will be certifying Form 15 CB. 

"After you submit Form 15 CA online, you will get an acknowledgement. You would need to print the acknowledgment, sign it and submit it along with Form 15 CB to the bank," explains Sandeep Shanbhag, Director of Wonderland Investments and an expert on all NRI financial matters. 

Access: Form 15 CA 

Step 2: Submit Form 15 CB - chartered accountant's certificate 

You need to get this certificate from a chartered accountant who will certify that you have paid all taxes due in India on the funds that you plan to remit abroad. The certificate will specify the nature of the amount to be remitted: that is, whether it is the remittance of dividends, interest, royalties received in India or any other income. Your chartered accountant may require you to submit copies of your Tax Residency Certificate, if any, in case you are availing a lower rate of TDS under the Double Taxation Avoidance Agreement.

Download: Form 15 CB 

Important points 

Can you do this from abroad? "Technically, it is possible to do this from abroad because the procedure is online. But it may be a bit difficult to do it, practically. Your chartered accountant would have to send you the hard copy of Form 15 CB. You would need to sign the acknowledgment of Form 15 CA and then send both these documents to the bank's branch in India," Shanbhag says. 

If your remittance consists of interest from the NRO deposit, the bank is required to deduct tax at source on the interest at the rate of 30%. Suppose you live in the US or UK or any other country that has a DTAA with India, then you are eligible for a reduced TDS rate of 15%. The bank will require you to submit a Tax Residency Certificate from your country of residence if you want to avail of this reduced rate. 

Now there is a peculiar scenario of DTAAs that India has signed with countries that do not have personal tax. Shanbhag explains, "The basis of a DTAA is that a particular income is taxed in both countries. However there are instances where a foreign country may not levy personal tax on its residents, yet India has a DTAA with those countries that allows NRIs of those countries to avail a reduced rate of TDS. This is a grey area." 

In such cases, each bank might have its own way of handling this. Some banks like the State Bank of Indiarequire you to submit a self-declaration form if you reside in a country that has zero tax, but has a DTAA with India that offers a lower rate of TDS. On submitting this self declaration, the bank will deduct tax at source at the reduced rate instead of the mandated 30% rate. 

The declaration however states that the NRI 'shall be fully responsible to State Bank of India for any Indian Income tax liability including interest, penalty etc. that may arise on account of the bank applying a lower rate for tax deduction at source based on this declaration.' 

You would therefore need to check with your bank to see what procedure is followed. 

Wednesday, October 12, 2011

Book Summary of The Secret Of The Nagas

Much awaited Book 2 in Shiva Trilogy after the huge success of The Immortals of Meluha
Today, He is a God.
4000 years ago, He was just a man.
The hunt is on. The sinister Naga warrior has killed his friend Brahaspati and now stalks his wife Sati. Shiva, the Tibetan immigrant who is the prophesied destroyer of evil, will not rest till he finds his demonic adversary. His vengeance and the path to evil will lead him to the door of the Nagas, the serpent people. Of that he is certain.
The evidence of the malevolent rise of evil is everywhere. A kingdom is dying as it is held to ransom for a miracle drug. A crown prince is murdered. The Vasudevs – Shiva’s philosopher guides – betray his unquestioning faith as they take the aid of the dark side. Even the perfect empire, Meluha is riddled with a terrible secret in Maika, the city of births. Unknown to Shiva, a master puppeteer is playing a grand game.
In a journey that will take him across the length and breadth of ancient India, Shiva searches for the truth in a land of deadly mysteries – only to find that nothing is what it seems.
Fierce battles will be fought. Surprising alliances will be forged. Unbelievable secrets will be revealed in this second book of the Shiva Trilogy, the sequel to the #1 national bestseller, The Immortals of Meluha.
About the Author
Amish is a 36 year old, IIM (Kolkata) educated boring banker turned happy author. The success of his debut book, The Immortals of Meluha (Book 1 of the Shiva Trilogy), encouraged him to give up a fourteen year old career in financial services to focus on writing. He is passionate about history, mythology and philosophy. He believes there is beauty and meaning in all world cultures and religions. The Secret of the Nagas is the second book of the Shiva Trilogy.
Amish lives in Mumbai with his wife Preeti and son Neel. He is presently working on the third book of the Shiva Trilogy, The Oath of the Vayuputras.
Know more about the Shiva Trilogy books through: Web: Facebook:
Interact with the author through: Twitter: Facebook:

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  Book Summary of The Immortals Of Meluha

1900 BC. In what modern Indians mistakenly call the Indus Valley Civilisation. The inhabitants of that period called it the land of Meluha – a near perfect empire created many centuries earlier by Lord Ram, one of the greatest monarchs that ever lived. This once proud empire and its Suryavanshi rulers face severe perils as its primary river, the revered
Saraswati, is slowly drying to extinction. They also face devastating terrorist attacks from the east, the land of the Chandravanshis. To make matters worse, the Chandravanshis appear to have allied with the Nagas,

an ostracised and sinister race of deformed humans with astonishing martial skills.

The only hope for the Suryavanshis is an ancient legend: ‘When evil reaches epic proportions, when all seems lost, when it appears that your enemies have  triumphed, a hero will emerge.’

Is the rough-hewn Tibetan immigrant Shiva, really that hero? And does he want to be that hero at all? Drawn suddenly to his destiny, by duty as well as by love, will Shiva lead the Suryavanshi vengeance and destroy evil?

About The Author
Amish IIM-Kolkata educated financial services professional, fascinated by history, philosophy and the future of human civilisation.

Related Video for "The Immortals Of Meluha"


Book Summary of Revolution 2020

Once upon a time, in small-town India, there lived two intelligent boys.
One wanted to use his intelligence to make money.
One wanted to use his intelligence to create a revolution.
The problem was, they both loved the same girl.

Welcome to Revolution 2020. A story about childhood friends Gopal, Raghav and Aarti who struggle to find success and love in Varanasi. However, it isn't easy to achieve this in an unfair society that rewards the corrupt. As Gopal gives in to the system, and Raghav fights it, who will win?

From the bestselling author of Five Point Someone, one night @ the call center, The Three Mistakes of My Life and 2 States, comes another gripping tale from the heartland of India. Are you ready for the revolution?

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Revolution 2020 -- My views
Chetan is by far the biggest selling Indian author. His stories have always struck a chord with the young crowd and have made him a household name amidst young students and professionals. His latest book, “Revolution 2020” is akin to his previous works.
The novel is pretty much similar to his previous works because of the simple vocabulary and the simple characters in the novel. He has tried to send out a social message through his new book which is a very good sign.
The story is set in Varanasi and revolves around 3 childhood friends. The story is woven around the poor Gopal Mishra and his childhood friends, the rich girl Aarthi and an Engineer’s son Raghav and their dreams. It talks about IIT –JEE, AIEEE and the preparation institutes in Kota in detail. It also talks about bringing out a change in the society. There is a very practical love story amidst all the commotion. The strongest point in the story is that you can identify yourself with the characters, be it the grey character or the straight forward one. Nobody is born evil; it is only the society which turns the good ones into evil. Similarly, all you need to get back to your good old ways is a small spark which reminds you of the past. It also advocates you to follow your passion.
Every character in the novel come with their own philosophies and still you could relate to them. All of them are right in their own rights. There will be one Prateek in every class and the MLA Shukla’s is probably Chetan’s way of reiterating his “Mera Neta Chor jai” movement. Though, it has come to an end, the characterization of Shukla has certainly evolved from the campaign.
Chetan takes a dig at the municipal authorities, the education department, HODs, the AICTE and a bunch of other people who are part of the corrupt society. He has taken the private engineering colleges as the base and explored all the possible avenues. It extends up to the shady underground business of the goons and the ugly land-grabbing cases as well.
The story starts with a simple wit in the 5th standard classroom and ends with a lot of hope. The 15 years travel between the beginning and the end of the story moves like a lazy breeze across your face. There are some major twists on the way but mostly it is a seamless masala story, the one that we expect from Chetan Bhagat.
The slight humor which is a usually trait in CB’s novel is slightly missing here. This story has more sexual content compared to his previous novels which would make the younger audience feel slightly uncomfortable. The story reads like a screenplay which is already written with a movie in mind. The contents towards the end are too filmy. Though the filmy contents are needed to provide hope to the audience, it doesn’t fit well in a story which was pretty much practical till then.

Bottom line: Revolution 2020 certainly doesn’t surpass CB’s best work (Five Point someone) but can certainly be read once to get the CB social consciousness feeling.

Book Summary of You Were My Crush!: ...Till You Said You You Love Me!

Durjoy Datta's fifth book is a true story based on his misunderstood brother - Benoy Roy. People say a lot of things about Benoy.

'I love him, but I don't want him to drive a Bentley,' his mom says. Or used to say. She is dead now. He drives a Bentley.

'He is a stranger to me. I haven't seen him since he was eight. I receive his credit card bills though,' his dad says.

'He should stop drinking,' his maid says.

'...stop bribing professors,' his best buddy, Eshaan advises him.

'Good for nothing, brat!' his best friend, Diya says.

'I never want to see you again. Stop stalking me or I will let my boyfriend know,' the love of his life says.

'You're the best,' his brother, Deb claims.

Between all this, who is the real Benoy?

This story is about him picking up the pieces of his life and trying to find a meaning out of it. A big car, a big house, does it solve anything? Why is that despite having everything, he has nothing?

You Were My Crush! is Durjoy's fifth book.

His first book was Of Course I Love You!...till I find someone better! Of course I love you..!, is a story set in Delhi, during the years 2006-2008 that revolves around colleges, nightclubs, relationships and friendships. This book takes a dark and a hilarious view on modern day relationships. Narrated in Debashish Roy's unsure, confused and testosterone induced voice, it takes a jibe at college time romances.

"Of Course I love You..!" is the first book of the trilogy of book on "Deb" and "Avantika" and their journey through life.

Well, the second book, Now That You're Rich... Let's Fall in Love! traces their journey beyond college and into professional life at an investment bank in Hyderabad! Hideous Human Resource managers picking on them, horny seniors looking down their cleavages, piles of workload, crazy shopping sprees, crates of beer and endless cups of coffee... Out from college and into the real world... how does it change them? How do they stand behind each other as they face the world!

All love stories hit a bump sometime or the other! So does Deb and Avantika's. So while Now That You're Rich! deals with how they face the world, the third book, She Broke Up, I Didn't!...I just kissed someone else! takes the story forward and talks about how they battle the questions of infidelity, loyalty and love! Is lust different from love? Are girls more tolerant? What would hurt you more? Your partner writing a love song for someone else? Or sleeping with someone else? Is the answer any different for the two sexes?

How does their relationship weather the storm of infidelity? Will they fall apart?

About the Author
Durjoy Datta is bestselling author of five books, Of Course I Love You! (2008), Now That You're Rich! (2009), She Broke Up, I Didn't! (2010), Ohh Yes, I Am Single! (2011) and You Were My Crush! (To be released - 2011). All these books have enjoyed prolonged stays on various bestseller lists.

All his books are inspired from real life incidents.

His books have sold a total of 1,000,000 copies till date making him one of the highest selling Indian authors till date. One of the youngest and the most prolific authors in the Indian fiction scene, his works are characterized by dark humor and in-your-face realism. He is seen as one of the most unabashed writers in the genre.

Durjoy is a mechanical engineer from Delhi College of Engineering (DCE) and did his management from MDI, Gurgaon in 2011. Apart from books, he has a keen interest in outdoor sports and strength training activities.

Sunday, October 9, 2011

Book online tickets for 2011 Formula One Indian Grand Prix

This is the official website of Book My Show, where you can make online purchases of your tickets to attend the 2011 F1 Indian Grand Prix to be hosted at the Buddh International Circuit in New Delhi, India.


Track your passport status online

This website is useful for tracking the status of the passport applied online. Also you can also apply passport online through this website. You can download the application forms and submit it online.