Saturday, June 30, 2012

"A Complete Guide About Income Tax Return"

Income Tax:
Income tax is an instrument used by the government to achieve its social and economic objective.Simply put,tax is duty or tariff that income earning individual pay to the government in exchange of certain benefits such as law and order,health care,education and lot more.

Source Of Income:
 
Gross Total Income:
The sum of all source of Income that an individual has or the total income he earns in a financial year.

1.Income From Salary
Income can be charged under this only if there is an employer-employee relation ship between payer and payee.Salary Includes basic salary or wages,annuity,gratuity,advance of salary,leave encashment,commission,perquisites and in retirement benefits.   

Tax Benefits Tips:
  • Conveyance allowance upto Rs800 tax exempted.
  • House Rent allowance if more than 10% of your salary then tax exemption.
  • Leave travel allowances tax free for twice in block of four years(Travel with in India).
  • Medical allowances upto Rss 15,000 a year is tax free.
2.Income From House Property
Any residential or commercial property that you own will be taxed.Even piece of the land.

Tax Benefits Tips:
  • Tax deduction if you have rented the property.
  • A deduction of 30% of the annual value is permitted.     
3.Income From Profits And Gain Of Business Or Profession
Income earned from profession or business is charged under the this section.The Income Chargeable to tax is the difference between the credits received on running the business and expenses incurred.

Tax Benefits Tips:
  • Tax deduction available for rented premises,insurance,repair of machinery,furniture,advertisement,traveling and many more.   
4.Income From Capital Gain
Any profit or gain arising from transfer of capital asset held as investment are chargeable to tax.The Capital gain from a long term or short term investment.

Tax Benefits Tips:
  • Jewellery,Drawing,Painting,Agriculture land are exempted from Income tax.
  • Raw material is tax exempted.    
5.Income From Other Sources
Income earned from lottery,game shows,deposit,alum from other person are taxable.

Tax Benefits Tips:
  • If Such Is donated for trust,NGO or Organization its completely tax exempted.
Tax Deduction:
Deduction of Tax one can claim under various reason and section of Income tax act.Deduction of tax can vary from 2% to 30 % of the Income earned.

Section 80C
Section 80C provide upto 1 Lakh Investment in a financial Year which is tax free.The various financial activity comes under this benefits are:Life Insurance Premium,Home Loan Principle,EPF,Tuition fee children,PPF,Senior Citizens Saving Scheme,Post Office Savings,National Saving Certificate,Pension Plan 
Section 80D
Premium Payment to medical Insurance tax deduction upto Rs15,000.(Anyone in the family)
Section 24
Interest on home loan with Maximum deduction upto Rs1.5 Lakh.
Section 80E
Tax deduction on Interest payment for educational loan.
Section 80G
Donation to funds and charity free from tax ,but it should not cross 10% of the Income.
Section 80DD
Deduction of Tax up to Rs 50,000 or Rs 1,00,000 for Medical Treatment.
Section 80DDB
Tax deduction up to Rs 40,000 to 60,000 for senior citizen.
Section 80CCF
Investment in Infrastructure bonds up to Rs200000 a year qualify for tax exemption.     

When To Pay Income Tax?

An Individual having salary income and no business Income must file his return not later than 30th June of the assessment year.
An Individual having Business Income must fill return before 31st August(Not required to audited)
The return should be done in the prescribed form.
Its necessary to file a return to claim a refund of any excess tax.

Procedure:

It can payed through Nationalized bank or Online Banks.
The Filling can be done self or Auditor or online filling.
The mode of Payment can be cash or Cheque or Money transfer.
Form 16 important will filling Income tax return.
For online Filling  visit Income tax website=>https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp 

Important Points:

Right tax computation
Right Detail such as PAN,bank account number,address and name.
Payment before due date   

Savings And Investment Scheme Guide For Indian Poor And Middle Class:New Pension System

What Scheme Mean?
The New Pension System is a government of India Initiative to extend pension benefits to all Indian citizens.Any employee or public can avail this pension scheme.

Eligibility
As to be Resident of India

Entry Age

Between 18 to 55 Years

Account Opening Fee
  • One time Account opening fee:Rs50
  • Initial subscriber registration and contribution upload:Rs40
  • Future Fixed upfront charges:Rs20
  • Annual maintenance chargers:Rs350
  • Each Transaction Or Deposit:Rs10
  • Annual Custodian Charge:0.0075-0.05% of the fund value
  • Annual Fund management Charge:0.0009% of the fund value 

Investment
Initial:Rs500
Minimum:Rs6000 Annually
Maximum:Rs25000 Annually

Interest
No guarantee

Account Holding Type

Individual

Tenure
Life Long

Tax Benefits
Tax deduction on Investment up to Rs1 Lakh can be availed.under section 80C.

Objective And Risk

The main objective of the new pension scheme is to offer tax deduction on investment up to Rs1 Lakh under section 80C in a financial year and instill the discipline to save and invest towards old age pension.

Tips
Use switch option between funds and fund managers.
Track the performance of fund managers to allocate investments.

Savings and Investment Scheme Guide For Indian Poor And Middle Class:Capital Gain Tax Exemption Bond

What Scheme Mean?
The Capital tax exemption bond are bonds in which investments offset the long term capital gains that Investors make on capital gain.

Eligibility

As to be resident of India and made capital gain.

Entry Age
No age Limit

Investment
Minimum:Rs5,000
Maximum:Rs50lakh
The bond of face value of Rs10,000

Interest
6% Per annum

Account Holding Type
Individual,HUF,Partnership,Companies,Corporates,Banks,Mutual funds,FII,Trust,NRI

Tenure
3Years

Tax Benefits
Tax Benefits are based Section 54C conditions(Refer Income Tax Website Section 54C)

How to Join The Scheme/Account/Deposit/Policy?
  • You need to fill the form provided by the bond issuer.
  • You need Self attested copy of PAN card.
  • Photocopy of Cancelled Cheque  for ESC facility.
  • Address and Identity proof.
  • Carry Original Document for verification.

Objective And Risk
The main objective of this three year bond is to avoid paying income tax on Capital gain.Gains made on capital transfer need to be invested in this bond within six months from sale of capital assert in order for the proceeds of such sale to exempted from capital gains tax.

Tips
You can time the sale to use the six month investment window in this bond to fall in two different financial years to maximize the savings on the gains that you have made.
 

Savings And Investment Scheme Guide For Indian Poor And Middle Class:RBI Savings Bonds

What Scheme Mean?
The RBI savings bonds or government of India bonds is an assured return scheme backed by the government, and is one of the safest instruments available to those seeking fixed and assured returns.
 
Eligibility
As to be resident of India.

Entry Age
No Age limit.

Investment
Minimum:Rs1000
Maximum:no Upper limit
Certificates are in multiples of Rs1000

Interest
8%per annum
Non-cumulative payable for half-yearly and cumulative payable on maturity.
Investors can also opt for cumulative interest which is paid on maturity.

Account Holding Type
Individual,Joint,Minor,HUF

Tenure
6 years

Tax Benefits
No tax benefits.

How to Join The Scheme/Account/Deposit/Policy?
  • You need to fill the form provided by the bond issuer.
  • You need PAN card and Demat Account.
  • You can hold the account physical form or demat account.
  • Address and Identity proof.
  • Carry Original Document for verification.
  • A bond certificates will be issued if holding in physical.
  • Choose nominee and witness signature.
Objective And Risk
The main objective of investing in this bond is the guaranteed 8% return on Investment.

Tips
Its provide income.Certificates can be bought every month for continuances income.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Infrastructure Bonds

What Scheme Mean?
Infrastructure bonds are tax saving Investments which offer tax exemption on Investments upto Rs20000 under 80CCF in a financial year.

Eligibility
As to resident of India to Invest in this bond

Entry Age
No age Limit

Investment
Minimum:Rs5000
Maximum:Rs20,000 to avail tax deduction on Investment.
Bond value are based on issuer.

Interest
7.25% to 8% per annum depending on the issuer.

Account Holding Type
Individual,joint,HUF

Tenure
10 years

Tax Benefits
Long Term Bond Provide tax exemption.

How to Join The Scheme/Account/Deposit/Policy?
  • You need to fill the form provided by the bond issuer.
  • You need PAN card and Demat Account.
  • You can hold the account physical form or demat account.
  • Address and Identity proof.
  • Carry Original Document for verification.
  • A bond certificates will be issued if holding in physical.

Objective And Risk
The main objective of the Infrastructure bond is to offer tax deduction on investment upto Rs20,000.The Tax deduction based Section 80C.

Tips
Invest only if your objective is to lower your Income tax liability.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Post Office Monthly Income Scheme

What Scheme Mean?
The Post Office Monthly Income Scheme is a guaranteed returns investment available at the post office.On the deposit that you make with the post office you get an assured Monthly Income.

Eligibility
As to be resident of Indian with Postal saving account.

Entry Age
No age Limit
A minor Above 10 years can open a account on their name itself.(3 lakh is the limit)

Investment
Minimum:Rs1,500
Maximum:Rs4.5 Lakh in a single account
Maximum:Rs9 Lakh in a joint Account.

Interest
8.2% per annum paid monthly

Account Holding Type
Individual,Joint,Minor

Tenure
5 years

Tax Benefits
No tax benefits.

How to Join The Scheme/Account/Deposit/Policy?
  • You must have a  Post Office savings account.
  • Account opening form as to be filled.
  • Two passport size photo.
  • Address and Identity proof.
  • Carry Original Document for verification.
  • Choose a nominee and witness.

Objective And Risk
The main objective of the POMIS is to provide an assured 8.2% returns paid monthly to the account holder which helps them create a guaranteed regular income.Though it offers no tax incentive,it is preferred instrument amongst smaller savers for the government backing that this product offers.

Tips
POMIS is good earning system than Recurring Deposit.So it returns effective earnings.

Saving And Investment Scheme Guide For Indian Poor And Middle Class:Senior Citizen Savings Scheme

What Scheme Mean?
The senior Citizen savings scheme(SCSS),Launched in 2004 is a deposit scheme introduced by the government of India to provide guaranteed returns to senior citizens through a safe investment .This scheme ensures a regular income stream for senior citizen after retirement.

Eligibility
As to be Resident of India.

Entry Age
60 years
55 years for those who have retired on superannuation or under a voluntary retirement scheme.
The retirement personnel of defense Services shale be eligible to Invest in Scheme irrespective of age.
  
Investment
Minimum:Rs1000
Maximum:Rs15 Lakh
Deposits have to be in Multiples of Rs1000

Interest
9% per annum compounded quarterly.

Account Holding Type
Individual,joint

Tenure
5 years can be extended by 3 years.

Tax Benefits
Amount Invested is eligible for tax deduction.Interest earned fully taxable if less than Rs 5000per annum.

How to Join The Scheme/Account/Deposit/Policy?
  • You must have a saving bank account.
  • Account opening form as to be filled.
  • Two passport size photo.
  • Address and Identity proof.
  • Carry Original Document for verification.

Objective And Risk
The main Objective Of the SCSS is to provide an assured 9% return paid every quarter to senior citizen which help them create a guaranteed regular income flow.
 
Tips
Its wise if Interest for deposit more than ScSS then you can Invest in Deposit.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:National Savings Cerificate(Series VII & IX))

What Scheme Mean?
The National savings certificate is a popular and safe small savings instrument that combine tax-savings with guaranteed returns.This scheme is backed by the government, and is one of the safest investment options available at post offices.

Eligibility
As to be resident of India to buy these certificate.

Entry Age
No age limit

Investment
Minimum:Rs100 per annum
Certificates are available in denominations of Rs100,Rs500,Rs1000,Rs5000 and Rs10000

Interest
8.2% compounded half yearly on 5 year tenure.
8.7% compounded half yearly on 10 year tenure.

Account Holding Type
Individual,joint,minor

Tenure
5 and 10 year

Tax Benefits
Amount Invested for 5 year tenure is eligible for tax deduction and Interest earned are tax free.But if the accrued interest is not taxed every year on an accrual basis then the entire income is taxable on maturity.

How to Join The Scheme/Account/Deposit/Policy?
Certificates can be bought from any post office or general post office.the following procedure:
  • You need to fill the NSC application form available at the post office.
  • Carry original identify proof for verification at the time of buying.
  • You can buy the certificates with cash,cheque or demand draft drawn in favor of the postmaster of the post office from where the NSC is being bought.
  • Choose a nominee and get a witness signature to complete the formalities when buying the certificate.

Objective And Risk
The main objective of investing in the NSC is to avail tax deduction on deposit and guarantee returns on Investment.The five and ten year tenure is used by many to create a regular monthly income stream in retirement.

Tips
Assured Income,Certificate can be bought on every month after 5 years it becomes steady Monthly income stream.

Friday, June 29, 2012

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Public Provident Fund

What Scheme Mean?
The Public Provident Fund(PPF) is a long term savings instrument established by the central government,which offer tax concessions on savings as well as withdrawal after lock-in period.

Eligibility
As to be resident of India.

Entry Age

No age limit.

Investment
Minimum:Rs500 per annum
Maximum:Rs1lakh per annum
A maximum of 12 deposits allowed in a financial year.

Interest
8.6% compounded annually
The Interest for the month is calculated on the minimum balance available in the account from 5th of a month to the last date of the month.

Account Holding Type
Individual,Minor

Tenure
  • 15 years
  • On completion of 15 years,the account can be extended by 5 years.
  • The PPF accounts matures after 15 years but the contribution has to be made for 16 year in all.The 15 year period is calculated from the financial year following the date on which the account is opened,effectively the PPF account matures on the first day of the 17th year.

Tax Benefits
The sum invested in PHF account is eligible for tax deduction under section 80C subject to a maximum savings of Rs1Lakh in a Financial year.On Maturity,the entire amount including the interest is tax free.The deposit is also exempt from wealth tax.

How to Join The Scheme/Account/Deposit/Policy?
Once you have selected the location to open an account you will need the following documents:

  • An account opening form.
  • Two passport size photographs.
  • Address and identify proof such as copy of the passport,PAN card,License card or ration card.
  • Carry original identity proof for verification at the time of opening account.
  • Choose a nominee and get a witness signature to complete the formalities to start the deposit.

Objective And Risk
The primary Objective of saving in the PPF account is to avail tax deduction on deposit,guaranteed returns on Investment and tax free withdrawal on Maturity.

Tips
Investing 1 Lakh per Year into PPF will accumulate Rs 34.64 lakh at end of the 15-year PPF Tenure of which the investment contribution is only Rs15 lakh,the rest is the advantage of compounding Interest

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Post Office Recurring Deposit

What Scheme Mean?
The Post office Recurring Deposit (PORD) is a systematic saving plan,Where you save a small but finite equal sum of money each month for a period of 60 months.


Eligibility

As to be Resident Of India with post office saving account.

Entry Age
No age limit
A minor above 10 years can open an account on their own name directly.

Investment
Minimum:Rs 10 or in Multiple of Rs 5
Maximum:There is no upper limit

Interest
8% compound quarterly

Account Holding Type
Individual,Joint,Minor

Tenure
5Years

Tax Benefits
No tax benefits or tax exemption.

How to Join The Scheme/Account/Deposit/Policy?
Once you have selected the post office to open the PORD account,you will first need to open a post office saving account to link the monthly payment to the PORD and for which you will need the documents:
  • An account opening form provided by the post office.
  • Two passport size photographs.
  • Address and identify proof such as copy of the passport,PAN card,License card or ration card.
  • Carry original identity proof for verification at the time of opening account.
  • Choose a nominee and get a witness signature to complete the formalities to start the deposit.

Objective And Risk
The main objective of the PORD is to provide an assured 8% return compound quarterly on every monthly deposit made over 60 months.Though it offer no tax incentive,it is a preferred instrument amongst small savers for the government backing that this product offers.

Tips
In an active account:six or more deposits but not exceeding eleven deposits made in any calender month,fetches Re1 rebate on every Rs10 denomination recurring deposit.
In case of twelve or more deposits made in any calender month,fetches a rebate of Rs4 for every twelve deposits and Rs1 for the balance,if any,of not less than six deposits.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Post Office Term Deposit

What Scheme Mean?
Post Office Term Deposit(POTD) is similar to a bank fixed deposit,where you save money for a definite time period earning a guaranteed return through the tenure of the deposit.

Eligibility
As to be resident Of India preferably with a post office saving bank account

Entry Age
No age limit
Minor above age 10 can open an account on their own name directly.

Investment
Minimum:rs 200 and in multiples
Maximum:there is no upper limit

Interest
Interest rate of 7.7%to8.3% depending on the tenure of the deposit.
Interest payable annually but calculated quarterly.

Account Holding Type
Individual,Joint,Minor

Tenure
1,2,3 or 5 year

Tax Benefits
No tax benefits for less than 5 years.Tax deduction under 80c for 5 year deposit.
 
How to Join The Scheme/Account/Deposit/Policy?
Once you have selected the post office to open the POTD account,you can open a PODT for which you will need the documents:
  • A deposit opening form provided by the post office.
  • Address and identify proof such as copy of the passport,PAN card,License card or ration card.
  • Carry original identity proof for verification at the time of opening account.
  • Choose a nominee and get a witness signature to complete the formalities to start the deposit.
  
Objective And Risk
The main objective of the POTD is to provide an assured return on the deposit depending on the duration of the deposit.the low-risk associated with this deposit scheme makes it a popular small savings deposit.

Tips
Invest huge sum across varies deposit tenure and schemes.Its better deposit than other since it provide high guarantee for deposit as it directly controlled by Central government.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Bank Recurring Deposits

What Scheme Mean?
A bank Recurring deposit is a type of deposit wherein one save pre defined sums of money every month in an account for a fixed tenure.It earns high compound interest.

Eligibility
As to be resident of India with Saving bank account

Entry Age
18 years and above
Minor with natural guardian.

Investment
Minimum:rs 5 per annum
Maximum:no limit
Senior Citizen qualify for special Interest rate.

Interest
Depends on the tenure of the deposit.
Starts from 7.25% to 9.75% per annum

Account Holding Type
Individual,Joint,HUF,companies,associations,trust,minor

Tenure
Offered up to 10 years

Tax Benefits 
No tax advantages for recurring deposit.

How to Join The Scheme/Account/Deposit/Policy?
Choose the bank
Choose nominee and witness signature.
choose correct tenure and amount.

Objective And Risk
The prime objective of the recurring deposit is to earn better interest on saving compared to what an ordinary saving bank offers and instill discipline to save regularly.

Tips
Check Interest rate with various bank.Choose bank which gives better flexibility.Even keep in consideration for inflation rate.Diversify your deposit with different tenure.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Company Deposit

What Scheme Mean?
Company deposit is a deposit with financial institution and non-banking finance companies for fixed rate of return over a fixed tenure.Its similar to Bank deposit.

Eligibility
You must Resident of India


Entry Age
18 years or older
Minor with Natural Guardian.

Investment
Minimum:rs 1000 per annum
Maximum:No limit

Interest
Depends on the tenure and company

Account Holding Type
Individual,Joint,based issuer

Tenure
Based on the company

Tax Benefits
No tax Exemption for both amount and Interest.

How to Join The Scheme/Account/Deposit/Policy?
Fill the form for deposit with the company
Carry original documents(Id proofs)
No limitation for deposit.

Objective And Risk 
The prime objective of Investing in company deposit is to earn a higher interest rate compared to bank fixed deposit.They are a source of regular income by means of monthly,quaterly,half-yearly and yearly.
 
Tips
To avoid risk make deposit with different company.
Plan which company and amount to be invested in it.

Savings And Investment Scheme Guide For Indian Poor And Middle Class:Bank Deposit


What Scheme Mean?
A bank Deposit is also known as fixed or term deposit,which can be opened by account holders to earn better interest compared to the interest the account balance earn in a saving bank account.

Eligibility
Need to Resident Of India with a saving bank account.

Entry Age
Need to be above 18years.
Minors with natural guardian.
 

Investment
Minimum:rs 1000 per annum
Maximum:No Limit
Deposits over 15 lakh Qualify for special Interest
 
Interest
Depends on tenure of the deposit
Starts from 7% to 9.75% per Annum

Account Holding Type
Indiviual,Joint,HUF,Companies,trust,association,minor

Tenure
Its provided upto 10 years

Tax Benefits Amount invested in Schedule Bank for 5 years is Eligible for tax deduction based on 80c,but Interest earned are taxable.

How to Join The Scheme/Account/Deposit/Policy?
Deposit can be done in Saving account bank only.
Choose nominee and witness signature.
Define tenure for deposit.

Objective And RiskThe prime objective of the bank deposit is to earn better interest on saving compared to what an ordinary saving bank offer.such deposits are preferred by risk averse investors,who find the guaranteed fixed returns extremely reassuring to invest in.

Tips
Check Interest rate,Instead of large deposit split into 3-5 deposits to reduce impact of interest loss in case of premature withdrawal.Do not leave renewal column free else maturity fresh fixed deposit tenure will commence.

Savings And Investment Scheme Guide For Indian Poor And Middle Class::Saving Bank Account

What Scheme Mean?

Savings Bank accounts are meant to promote the habit of saving among people while allowing them to use their funds when required.The advantage of savings bank account is its high liquidity,safety and a moderate interest on the saving.

Eligibility

You need to be Resident of India

Entry Age

No age is specified and minors can open an account with the natural guardian operating it.
Minor above age 10 can operate the account on their own.

Account Opening Fee

No fees,but a minimum cash deposit is required to open an account

Account Maintenance

Minimum balance required depending on account location which could be urban,semi-urban or rural.
Minimum Balance required depending on account type such as no-frills,saving,salary-linked,deposit linked.
Predefined number of transaction per month are free,beyond which transaction are charged for.
Interest

Fixed rate compounded half yearly up to rs 1 lakh,which varies across bank.
Variable Interest rate on the balance above rs 1 lakh in the account.
The interest for the month is calculated on the lowest balance available in the account from 10th of a month to the last date of the month.

Account Holding Type

Individual,Joint,Hindu Undivided family not engaged in any trading or business activity,Minor through Guardian. 

Tenure


As long as the accounts is active.

Tax Benefits 


Amount credited in the Account and Interest for the amount is taxable.

How to Join The Scheme/Account/Deposit/Policy?





Fill Accounting opening form of Any Bank within India.
Two passport Size photo.
Carry Original Identification Document(Voter id,Driving License,Pan card,Ration Card,Passport etc)


Objective And Risk

Savings account provide automatic access that it offers to other financial instruments such as investment,loans and savings.

Tips

Look for bank which provides different saving accounts,free debit card(no annual fee),account insured etc.I prefer Nationalized bank than private bank.

Thursday, June 28, 2012

"Evolution Of Human Being and Life In Earth"

 Date

4000 Ma
Event(Ma-Millions Of Age,Ka-Thousands of Age)

The earliest life appears.
3900 Ma
Cells resembling prokaryotes appear. This marks the first appearance of photosynthesis and therefore the first occurrence of large quantities of oxygen on the earth.
2500 Ma
First organisms to utilize oxygen. By 2400 Ma, in what is referred to as the Great Oxygenation Event, the pre-oxygen anaerobic forms of life were wiped out by the oxygen consumers.
2100 Ma
More complex cells appear: the eukaryotes.
1200 Ma
Sexual reproduction evolves, leading to faster evolution.
900 Ma
Choanoflagellate
The choanoflagellates may look similar to the ancestors of the entire animal kingdom, and in particular they may be the direct ancestors of Sponges. Proterospongia (members of the Choanoflagellata) are the best living examples of what the ancestor of all animals may have looked like.
They live in colonies, and show a primitive level of cellular specialization for different tasks.
600 Ma
It is thought that the earliest multicellular animal was a sponge-like creature.
Sponges are among the simplest of animals, with partially differentiated tissues.
Sponges (Porifera) are the phylogenetically oldest animal phylum extant today.
580 Ma
Animal movement may have started with cnidarians. Almost all cnidarians possess nerves and muscles. Because they are the simplest animals to possess them, their direct ancestors were very likely the first animals to use nerves and muscles together. Cnidarians are also the first animals with an actual body of definite form and shape. They have radial symmetry. The first eyes evolved at this time.
550 Ma
Flatworm
Flatworms are the earliest animals to have a brain, and the simplest animals alive to have bilateral symmetry. They are also the simplest animals with organs that form from three germ layers.
540 Ma
Acorn worms are considered more highly specialised and advanced than other similarly shaped worm-like creatures. They have a circulatory system with a heart that also functions as a kidney. Acorn worms have a gill-like structure used for breathing, a structure similar to that of primitive fish. Acorn worms are thus sometimes said to be a link between vertebrates and invertebrates.

Chordates


530 Ma
Pikaia
Pikaia is an iconic ancestor of modern chordates and vertebrates.Other, earlier chordate predecessors include Myllokunmingia fengjiaoa,Haikouella lanceolata,and Haikouichthys ercaicunensis.
The lancelet, still living today, retains some characteristics of the primitive chordates. It resembles Pikaia.
Conodont
Conodonts are a famous type of early (495 Mya and later) chordate fossil; they are the peculiar teeth of an eel-shaped animal characterized by large eyes, fins with fin rays, chevron-shaped muscles and a notochord. The animal is sometimes called a conodont, and sometimes a conodontophore (conodont-bearer) to avoid confusion.
505 Ma
Agnatha
The first vertebrates appear: the ostracoderms, jawless fish related to present-day lampreys and hagfishes. Haikouichthys and Myllokunmingia are examples of these jawless fish, or Agnatha. (See also prehistoric fish). They were jawless and their internal skeletons were cartilaginous. They lacked the paired (pectoral and pelvic) fins of more advanced fish. They were precursors to the Osteichthyes (bony fish).
480 Ma
A Placoderm
The Placodermi were prehistoric fishes. Placoderms were the first of the jawed fishes, their jaws evolving from the first of their gill arches.Their head and thorax were covered by articulated armoured plates and the rest of the body was scaled or naked.
410 Ma
The first coelacanth appears;this order of animals had been thought to have no extant members until living specimens were discovered in 1938. It is often referred to as a living fossil.

Tetrapods


390 Ma
Panderichthys
Some fresh water lobe-finned fish (Sarcopterygii) develop legs and give rise to the Tetrapoda.
The first tetrapods evolved in shallow and swampy freshwater habitats.
Primitive tetrapods developed from a lobe-finned fish (an "osteolepid Sarcopterygian"), with a two-lobed brain in a flattened skull, a wide mouth and a short snout, whose upward-facing eyes show that it was a bottom-dweller, and which had already developed adaptations of fins with fleshy bases and bones. The "living fossil" coelacanth is a related lobe-finned fish without these shallow-water adaptations. These fishes used their fins as paddles in shallow-water habitats choked with plants and detritus. The universal tetrapod characteristics of front limbs that bend backward at the elbow and hind limbs that bend forward at the knee can plausibly be traced to early tetrapods living in shallow water.
Panderichthys is a 90–130 cm (35–50 in) long fish from the Late Devonian period (380 Mya). It has a large tetrapod-like head. Panderichthys exhibits features transitional between lobe-finned fishes and early tetrapods.
Trackway impressions made by something that resembles Ichthyostega's limbs were formed 390 Ma in Polish marine tidal sediments. This suggests tetrapod evolution is older than the dated fossils of Panderichthys through to Ichthyostega.
Lungfishes retain some characteristics of the early Tetrapoda. One example is the Queensland Lungfish.
375 Ma
Tiktaalik
Tiktaalik is a genus of sarcopterygian (lobe-finned) fishes from the late Devonian with many tetrapod-like features. It shows a clear link between Panderichthys and Acanthostega.
365 Ma
Acanthostega
Ichthyostega
Acanthostega is an extinct amphibian, among the first animals to have recognizable limbs. It is a candidate for being one of the first vertebrates to be capable of coming onto land. It lacked wrists, and was generally poorly adapted for life on land. The limbs could not support the animal's weight. Acanthostega had both lungs and gills, also indicating it was a link between lobe-finned fish and terrestrial vertebrates.
Ichthyostega is an early tetrapod. Being one of the first animals with legs, arms, and finger bones, Ichthyostega is seen as a hybrid between a fish and an amphibian. Ichthyostega had legs but its limbs probably weren't used for walking. They may have spent very brief periods out of water and would have used their legs to paw their way through the mud.
Amphibia were the first four-legged animals to develop lungs which may have evolved from Hynerpeton
 360 Mya.
Amphibians living today still retain many characteristics of the early tetrapods.
300 Ma
Hylonomus
From amphibians came the first reptiles: Hylonomus is the earliest known reptile. It was 20 cm (8 in) long (including the tail) and probably would have looked rather similar to modern lizards. It had small sharp teeth and probably ate millipedes and early insects. It is a precursor of later Amniotes and mammal-like reptiles. Α-keratin first evolves here which is used in claws in modern lizards and birds, and hair in mammals.
Evolution of the amniotic egg gives rise to the Amniota, reptiles that can reproduce on land and lay eggs on dry land. They did not need to return to water for reproduction. This adaptation gave them the capability to colonize the uplands for the first time.
Reptiles have advanced nervous systems, compared to amphibians. They have twelve pairs of cranial nerves.

Mammals


256 Ma
Phthinosuchus, an early Therapsid
Shortly after the appearance of the first reptiles, two branches split off. One branch is the Diapsids, from which come the modern reptiles. The other branch is Synapsida, from which come modern mammals. Both had temporal fenestra, a pair of holes in their skulls behind the eyes, which were used to increase the space for jaw muscles. Synapsids had one opening on each side, while diapsids had two.
The earliest mammal-like reptiles are the pelycosaurs. The pelycosaurs were the first animals to have temporal fenestra. Pelycosaurs are not Therapsids but soon they gave rise to them. The Therapsida were the direct ancestor of mammals.
The therapsids have temporal fenestrae larger and more mammal-like than pelycosaurs, their teeth show more serial differentiation; and later forms had evolved a secondary palate. A secondary palate enables the animal to eat and breathe at the same time and is a sign of a more active, perhaps warm-blooded, way of life.
220 Ma
Cynognathus
One sub-group of therapsids, the cynodonts evolved more mammal-like characteristics.
The jaws of cynodonts resemble modern mammal jaws. It is very likely this group of animals contains a species which is the direct ancestor of all modern mammals.
220 Ma
Repenomamus
From Eucynodontia (cynodonts) came the first mammals. Most early mammals were small and shrew-like animals that fed on insects. Although there is no evidence in the fossil record, it is likely that these animals had a constant body temperature and milk glands for their young. The neocortex region of the brain first evolved in mammals and thus is unique to them.
Monotremes are an egg laying group of mammals represented amongst modern animals by the platypus and spiny anteaters. Recent genome sequencing of the platypus indicates that its sex genes are closer to that of birds than to the other theria (live birthing) mammals. Comparing this to other mammals, it can be inferred that the first mammals to gain gender differentiation through the existence or lack of SRY gene (found in the y-Chromosome) evolved after this point.
160 Ma
Eomaia scansoria
Juramaia sinensis, is the earliest known eutherian (placental) mammal fossil.
Eomaia scansoria, is an early eutherian mammal dating to 125 Ma. It looks like a modern dormouse, climbing small shrubs in Liaoning, China.
The remaining mammal group went on to represent the marsupial line that survives to this day in hundreds of animal species including the kangaroo.
100 Ma
Common genetic ancestor of mice and humans (base of the clade Euarchontoglires).

Primates


65–85 Ma
Plesiadapis
Carpolestes simpsoni
A group of small, nocturnal and arboreal, insect-eating mammals called the Euarchonta begins a speciation that will lead to the primate, treeshrew and flying lemur orders. The Primatomorpha is a subdivision of Euarchonta that includes the primates and the proto-primate Plesiadapiformes. One of the early proto-primates is Plesiadapis. Plesiadapis still had claws and the eyes located on each side of the head. Because of this they were faster on the ground than on the top of the trees, but they began to spend long times on lower branches of trees, feeding on fruits and leaves. The Plesiadapiformes very likely contain the species which is the ancestor of all primates.
One of the last Plesiadapiformes is Carpolestes simpsoni. It had grasping digits but no forward-facing eyes.
40 Ma
Primates diverge into suborders Strepsirrhini (wet-nosed primates) and Haplorrhini (dry-nosed primates). Strepsirrhini contain most of the prosimians; modern examples include the lemurs and lorises. The haplorrhines include the three living groups: prosimian tarsiers, simian monkeys, and apes. One of the earliest haplorrhines is Teilhardina asiatica, a mouse-sized, diurnal creature with small eyes. The Haplorrhini metabolism lost the ability to make its own Vitamin C. This means that it and all its descendants had to include fruit in its diet, where Vitamin C could be obtained externally.
30 Ma
Aegyptopithecus
Haplorrhini splits into infraorders Platyrrhini and Catarrhini. Platyrrhines, New World monkeys, have prehensile tails and males are color blind. They may have migrated to South America on a raft of vegetation across the relatively narrow Atlantic ocean (approx. 700 km). Catarrhines mostly stayed in Africa as the two continents drifted apart. Possible early ancestors of catarrhines include Aegyptopithecus and Saadanius.
25 Ma
Proconsul
Catarrhini splits into 2 superfamilies, Old World monkeys (Cercopithecoidea) and apes (Hominoidae). Our trichromatic color vision had its genetic origins in this period.
Proconsul was an early genus of catarrhine primates. They had a mixture of Old World monkey and ape characteristics. Proconsul's monkey-like features include thin tooth enamel, a light build with a narrow chest and short forelimbs, and an arboreal quadrupedal lifestyle. Its ape-like features are its lack of a tail, ape-like elbows, and a slightly larger brain relative to body size.
Proconsul africanus is a possible ancestor of both great and lesser apes, and humans.

Hominidae


15 Ma
Hominidae (great apes) speciate from the ancestors of the gibbon (lesser apes).
13 Ma
Homininae ancestors speciate from the ancestors of the orangutan.
Pierolapithecus catalaunicus is believed to be a common ancestor of humans and the great apes or at least a species that brings us closer to a common ancestor than any previous fossil discovery.
Pierolapithecus had special adaptations for tree climbing, just as humans and other great apes do: a wide, flat rib cage, a stiff lower spine, flexible wrists, and shoulder blades that lie along its back.
10 Ma
Hominini speciate from the ancestors of the gorillas.
7 Ma
Sahelanthropus tchadensis
Hominina speciate from the ancestors of the chimpanzees. The latest common ancestor lived around the time of Sahelanthropus tchadensis, ca. 7 Ma; S. tchadensis is sometimes claimed to be the last common ancestor of humans and chimpanzees, but this is disputed. The earliest known human ancestor post-dating the separation of the human and the chimpanzee lines is Orrorin tugenensis (Millennium Man, Kenya; ca. 6 Ma). Both chimpanzees and humans have a larynx that repositions during the first two years of life to a spot between the pharynx and the lungs, indicating that the common ancestors have this feature, a precursor of speech.
4.4 Ma
Ardipithecus is a very early hominin genus (subfamily Homininae). Two species are described in the literature: A. ramidus, which lived about 4.4 million years ago during the early Pliocene, and A. kadabba, dated to approximately 5.6 million years ago(late Miocene). A. ramidus had a small brain, measuring between 300 and 350 cm3. This is about the same size as modern bonobo and female common chimpanzee brain, but much smaller than the brain of australopithecines like Lucy (~400 to 550 cm3) and slightly over a fifth the size of the modern Homo sapiens brain. Ardipithecus was aboreal, meaning it lived largely in the forest where it competed with other forest animals for food, including the contemporary ancestor for the chimpanzees. Ardipithecus was likely bipedal as evidenced by its bowl shaped pelvis, the angle of its foramen magnum and its thinner wrist bones, though its feet were still adapted for grasping rather than walking for long distances.
3.6 Ma
Australopithecus afarensis
Some Australopithecus afarensis left human-like footprints on volcanic ash in Laetoli, Kenya (Northern Tanzania) which provides strong evidence of full-time bipedalism. Australopithecus afarensis lived between 3.9 and 2.9 million years ago. It is thought that A. afarensis was ancestral to both the genus Australopithecus and the genus Homo. Compared to the modern and extinct great apes, A. afarensis has reduced canines and molars, although they are still relatively larger than in modern humans. A. afarensis also has a relatively small brain size (~380–430 cm³) and a prognathic (i.e. projecting anteriorly) face. Australopithecines have been found in Savannah environments and likely increased its diet to include meat from scavenging opportunities. An analysis of Australopithecus africanus lower vertebrae suggests that females had changes to support bipedalism even while pregnant.
3.5 Ma
Kenyanthropus platyops, a possible ancestor of Homo, emerges from the Australopithecus genus.
3 Ma
The bipedal australopithecines (a genus of the Hominina subtribe) evolve in the savannas of Africa being hunted by Dinofelis. Loss of body hair takes place in the period 3-2 Ma, in parallel with the development of full bipedalism.

Homo


2.5 Ma
Homo habilis
Appearance of Homo. Homo habilis is thought to be the ancestor of the lankier and more sophisticated Homo ergaster. Lived side by side with Homo erectus until at least 1.44 Ma, making it highly unlikely that Homo erectus directly evolved out of Homo habilis. First stone tools, beginning of the Lower Paleolithic.
1.8 Ma
A reconstruction of Homo erectus.
Homo erectus evolves in Africa. Homo erectus would bear a striking resemblance to modern humans, but had a brain about 74 percent of the size of modern man. Its forehead is less sloping and the teeth are smaller. Other hominid designations such as Homo georgicus, Homo ergaster, Homo pekinensis, Homo heidelbergensis are often put under the umbrella species name of Homo erectus. Starting with Homo georgicus found in what is now the Republic of Georgia dated at 1.8 Ma, the pelvis and backbone grew more human-like and gave H. georgicus the ability to cover very long distances in order to follow herds of other animals. This is the oldest fossil of a hominid found (so far) outside of Africa. Control of fire by early humans is achieved 1.5 Ma by Homo ergaster. Homo ergaster reaches a height of around 1.9 metres (6.2 ft). Evolution of dark skin, which is linked to the loss of body hair in human ancestors, is complete by 1.2 Ma. Homo pekinensis first appears in Asia around 700 Ka but according to the theory of a recent African origin of modern humans, they could not be human ancestors, but rather, were just a cousin offshoot species from Homo ergaster. Homo heidelbergensis was a very large hominid that had a more advanced complement of cutting tools and may have hunted big game such as horses.
1.2 Ma
Homo antecessor may be a common ancestor of humans and Neanderthals.At present estimate, humans have approximately 20,000–25,000 genes and share 99% of their DNA with the now extinct Neanderthal  and 95-99% of their DNA with their closest living evolutionary relative, the chimpanzeesThe human variant of the FOXP2 gene (linked to the control of speech) has been found to be identical in Neanderthals. It can therefore be deduced that Homo antecessor would also have had the human FOXP2 gene.
600 ka
A reconstruction of Homo heidelbergensis
Three 1.5 m (5 ft) tall Homo heidelbergensis left footprints in powdery volcanic ash solidified in Italy. Homo heidelbergensis may be a common ancestor of humans and Neanderthals.It is morphologically very similar to Homo erectus but Homo heidelbergensis had a larger brain-case, about 93% the size of that of Homo sapiens. The holotype of the species was tall, 1.8 m (6 ft) and more muscular than modern humans. Beginning of the Middle Paleolithic.
200 ka
Homo sapiens sapiens (Pioneer plaque)
Omo1, Omo2 (Ethiopia, Omo river) are the earliest fossil evidence for anatomically modern Homo sapiens.
160 ka
Homo sapiens (Homo sapiens idaltu) in Ethiopia, Awash River, Herto village, practice mortuary rituals and butcher hippos. Potential earliest evidence of anatomical and behavioral modernity consistent with the continuity hypothesis including use of red ochre and fishing.
150 ka
Mitochondrial Eve is a woman that lived in East Africa. She is the most recent female ancestor common to all mitochondrial lineages in humans alive today. Note that there is no evidence of any characteristic or genetic drift that significantly differentiated her from the contemporary social group she lived with at the time. Her ancestors were homo sapiens and her mother had the same mtDNA.
70 ka
Appearance of mitochondrial haplogroup L2. Behavioral modernity according to the "great leap forward" theory.
142 to
60 ka
Y-chromosomal Adam lived in Africa. He is the most recent common ancestor from whom all male human Y chromosomes are descended.
60 ka
Appearance of mitochondrial haplogroups M and N, which participate in the migration out of Africa. Homo sapiens that leave Africa in this wave start interbreeding with the Neanderthals they encounter.
50 ka
Migration to South Asia. M168 mutation (carried by all non-African males). Beginning of the Upper Paleolithic. mt-haplogroups U, K.
40 ka
Migration to Australiaand Europe (Cro-Magnon).
25 ka
The independent Neanderthal lineage dies out. Y-Haplogroup R2; mt-haplogroups J, X.
12 ka
Beginning of the Mesolithic / Holocene. Y-Haplogroup R1a; mt-haplogroups V, T. Evolution of light skin in Europeans (SLC24A5). Homo floresiensis dies out, leaving Homo sapiens as the only living species of the genus Homo.

Wednesday, June 27, 2012

World Largest Armed Force- Indian Military:ill-Equipped and Armed With Out Dated Old Weapons!!!

India one of the largest Military power in the world.Currently over 1.5 million people serving Indian armed force.We must feel pride of Indian Soldiers who protected our mother land from external treat.Even though we last our battle against China,still our soldiers are bravest in entire world.The victory of war doesn't depend only personnel strength but also state of art equipment and weapon.
The Equipment and weapon in India may be fit for war,but its outdated and not equipped for present state of art war.
 
India is the largest importer of arms in the world.Approx we spent 3% of our GDP for defense of our country.The Major problem in India is on which side we aline before 1990-we are on Soviet union side.After 1990-Liberization we switched to American side,even though we say founder of Non-alignment movement.So must of the equipment were provided by soviet union during Pakistan war.Today around 40% of equipment and weapon are Soviet Union Made,Even after its fall still Russia is the largest supplier to India.

India is never ever been largest producer of arms.We took enormous time to develop Infrastructure for production of state of art weapons.After Kargil war we didn't make any significant advancement in Weapons and equipments.Still we are the only military power in the world ,to use even 40-50 year old equipment in service.The out dated weapon can be seen in all three services of the Military.Indian Armory was largely miss managed with Inefficiency of Indian Politician's.

After late 80's and early 90's Bofors Scandal erupted,Indian government showed less interest in Arms procurement and building state of art.After 2005,India started to give orders for advancement of armed forces.Even though Government came forward for Import of arm only,but not to built large Independent arm production ability.If we look each of the three services deeply we know the problem in armed forces.

Something To Think:Why We  keep on Importing Arms?Why we dont show intention for large Arm Production?

Indian Army:


The 800-odd T-90S tanks in service, as well as the 124 Arjun tanks can fight at night, India's 2400-odd T-72 tanks, a 1960s Soviet design, are mostly night blind.The planned purchase of add-on night sights for the T-72 had dragged on fruitlessly. Even if it is implemented, it would hardly make up for the badly outdated T-72 design.Indian artillery equipment are out dated hardly they are 1980's procurement from Soviet union,Poland and east Germany.Anti-Aircraft guns are oldest in the world with more than 60 years in Service namely L-70 and ZU-23.Even most famous Ak-47 and SLR riffles of Soviet are out dated,but still Indian army use its as a basic Weapon.
Future Order:3,000-3,600 155mm, 45 calibre ultralight and 155 mm 52 calibre towed, mounted and self-propelled guns,INSAS,Akash Missile,Utility Helicopter Etc (To complete commission of this basic order its will take one decade.)

Indian AirForce:

Entire World Air force is moving towards Stealth Technology,but Indian Air Craft fight heavily against the aging problem.The Major strike Force of Indian Air Force MiG series multi-role Air craft are Soviet Orgin.It has been 20 years since Soviet union De fragmented,but we still use out dated Air Craft.More than 500 Mig series Air craft are responsible Major Accidents.Even Transport Plane Il-76 and AN-32,Helicopter MI Series are Soviet Origin outdated well over decade ago itself.Our Cross border Enemy China has entered the Elite Club of Stealth Air craft Nation after its first Stealth Air craft test.So we need to advance our presence in Sky too.
Future Order:126-Dassault Rafale,Global master,Super Hercules,MI-35,LCF and various DRDO Project.(It will take atleast 5 years to commission this order itself.)

Indian Navy:

Most of the sub-marines of Indian Navy are leased under contract for certain years.Even the Permanent Sub marines are Imported or produced with borrowed technology.The Ships also are more than 20-40 years in Services for Indian Navy.So its need to protect our sea frontier from enemy fleets.We need built a strong sea protection pocket to defend our nation.  
Future Order:Planned to develop Multi-role Vessels.        

Something To Think:We need to Plan our Future Procument such a way that Minimize Import and Maximize Self Development.Any how we need to Advance our Armed forces with in next Decade.    
Source:Newspaper,Internet Source,Magazine,Bablu Thought's 
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