REVERSE MORTGAGE

A 'Mortgage' means transfer of an interest in a specific immovable property for the purpose of securing the payment of money advanced as a loan, an existed or future debt. The transferor is called a 'Mortgagor' and transferee a 'Mortgagee' and an instrument by which transfer is made called 'MORTGAGE DEED' which actually depends upon the payment of money secured as 'Mortgage Money' as defined under 'Section:58' of 'The Transfer Of Property Act, 1882'.

'Reverse Mortgage' is the new concept in India and less effective though it is very popular in the western countries, but in India it can be seen as from the numbers of persons i.e. 150 persons have availed its benefit till now and this type of mortgage is basically helps senior citizens to get regular payments from the financial entities or banks against the mortgage of his property. A reverse mortgage is totally a different concept from a regular mortgage process where a person pays the bank for a mortgaged property and unlike other loans, this need not be repaid by the borrower.

'Reverse Mortgage' is one of the important types of mortgage where owner of the immovable property surrenders his title of the property to a financial entity or bank. The concept is simple, a senior citizen who holds a house or property, but lacks a regular source of income can put mortgage his property with a bank or housing finance company (HFC) and the bank or financial entity pays the person a regular payment. The good thing is that the person who 'reverse mortgages' his property can stay in the same house for his life time and continue to receive the much needed regular payments. So, effectively owner of the property will continue to stay at the same place and also get paid for it. Any house owner over 60 years of age is eligible for a reverse mortgage and the maximum loan which can be granted is up to 60% of the value of residential property. The Reverse Mortgage is otherwise called as lifetime mortgage.

'Reverse Mortgage' loan amount based on the three things i.e. value of the property, term of the mortgage agreement and rate of payment with interest which depends upon the age of the owner of the property/ borrower of the loan amount. A mechanism for valuation and computation of the mortgage property depends upon the law of probability which will be assessed by the professionals. The loan amount can be provided through monthly, quarterly, half-yearly or annually or lump sum money based on the mutual understanding of the parties to the mortgage agreement. The maximum period of a loan which can be provided by the banks to the reverse mortgage borrower is for 15 years but the lender has to revaluate the property at least once in the 5 years so that it will assist him to get more money as a loan from the bank which is totally based on the value of the property. The value of the property is generally revisited periodically, if the value of the property increased then senior citizen will get an option to increase the loan amount.

An advantage of the Reverse Mortgage scheme is that the owner of property will not be liable to pay Income Tax under 'Income Tax Act' because in reverse mortgage transaction whatever amount has been received either in lump sum or monthly installment by the owner of the property as loan amount, will not be considered as a Income earned. A reverse mortgage scheme which is basically for the benefit of senior citizens, however in a reverse mortgage transaction any transfer of capital asset will not be considered as transfer or alienation of immovable property as it is also stated by the central government notification, hence it will not attract the provision of capital gains tax.

The financial entity or the bank has authoritative power to recover the loan amount, wherein it has been conferred with a right to sell the mortgage property in the case if incumbent or borrower either passes away or leaves the house. The loan amount can be repaid or prepaid by the legal heirs of the borrower at any time during the period of loan with the accumulated interest amount and have the mortgage released without resorting to the sale of property. In case if there is a sale of mortgage property by the bank for repayment of the loan amount then whatever is the additional amount received by the bank need to be paid to the heirs of the senior citizen but only after clearing the loan amount payment by the bank.

The reverse mortgage scheme offered by some of the leading banks in India could bring the required answers to the suffering senior citizens. Most of the people in the senior age groups, either by inheritance or by virtue of building assets have properties in their names, but they were not able to convert it into instant and regular income stream due to its illiquid nature. The 'Union Budget 2007-2008' had a great proposal which introduced the 'Reverse Mortgage' scheme. A Reverse Mortgage scheme is always provides more benefits to the senior citizens who does not have any source of income and through this scheme owner of the property can ensure a regular cash flow in times of need and can enjoy the benefit of staying in the property as well. But a reverse mortgage scheme is a big failure in the country like India where number of persons using this scheme is very less. Reverse Mortgage thus, is very beneficial for senior citizens who want a regular income to meet their everyday needs, without leaving their houses

How to claim refund while filing income tax return

Have you failed to reporting some tax saving investment to your
employer or did you make the investment after submitting your
investment declaration to the employer? Then there is a possibility of
you being eligible for a tax refund. "Atax refund could be due to the
following: tax deduction at source at a rate higher than the actual
tax payable; wrong (ie, higher) estimation of income while computing
advance tax liability; not reporting all investments to the employer
while the employer deducts taxes on salary; and claim of exemption in
tax returns," says Sonu Iyer, tax partner, Ernst & Young.

Most companies require employees to declare at the beginning of the
financial year their proposed investments for tax
exemptions/deductions. House rent and leave travel allowances are the
common exemptions that can be claimed, while interest on housing loan,
investments in PPF, NSC, ELSS, life insurance premiums, home loan
principal repayment, stamp duty/registration fee, and long-term
infrastructure bonds come under common deductions. Other deductions
include medical insurance premium (section 80D), interest on education
loan (section 80E), maintenance of disabled dependent (section 80DD),
etc.

"Some employees fail to make the declaration, while some may give the
details but fail to provide the relevant documentary proof within the
time frame prescribed by the employer. In either case, employees can
claim tax exemptions/deductions only while filing tax returns.

This results in a tax refund," says Vaibhav Sankla executive director,
Adroit Tax Services. "The deduction on interest on the housing loan,
based on the provisional certificate obtained from the housing finance
company/bank during the financial year, is reflected inForm 16. For FY
2010-11, since the rates were on the rise, the final certificate would
show a higher amount of interest for those who took loan on a variable
rate. This, too, can be a reason for a tax refund claim," Sankla says.
In the case of retired individuals/senior citizens, banks deduct
income-tax at source if they fail to furnish declaration in Form
15G/15H for non-deduction of tax on their interest income. Further,
ifPAN is not provided, the deduction rate goes up to 20% from 10%.

For non-residents, banks often deduct taxes at 30.9% (or lower as per
India's tax treaty with the country they reside in) on the interest
earned by NRO accounts. Even tenants of non-resident landlords deduct
income tax at 30.9% on the rent paid. Most nonresidents fall in either
the 0% or 10% tax slab as their Indian income is limited. This means,
nonresidents often claim refund of the excess tax deducted.

Some individuals pay advance tax on the capital gains they expect
during the year. This can be adjusted against any capital loss they
may incur later in the year. The amount of capital gain could also be
lower due to indexation, deductions u/s 54/54EC/54F, incorrect cost
calculation etc.

ELIGIBILITY FOR REFUND

"Taxpayers should first calculate their final tax liability in
accord-inance with the tax slabs applicable to them. If the total tax
liability is less than the taxes paid or deducted during the year,
they would be eligible for a tax refund," says Vineet Agarwal,
director - tax and regulatory services, KPMG. Ensure tax exemptions
and/or deductions are mentioned correctly. In the case of a home loan,
for instance, ensure the amount on the final certificate from the
housing finance company is the same as in the provisional certificate
you submitted to the employer.

CALCULATING REFUND

"For calculating refund, you have to calculate taxes on income after
applying the applicable income tax rates. Once you arrive at the total
tax payable, deduct all the tax deducted at source and advance taxes
and self assessment tax paid (if any). The balance (if negative) is
the refund amount," Iyer adds.

REJECTION OF TAX REFUND

The most common reason is incorrect calculation of tax payable by the
taxpayer. "Refund can also be rejected if the amount shown as TDS in
the returns does not match with the details in the database of the
income-tax department," Agarwal of KPMG says. If you have mentioned
the PAN or assessment year wrongly, then, unless corrective action is
taken, the refund claim will be rejected.

TRACKING REFUND

If you filed returns online, visit
tin.tin.nsdl.com/oltas/refundstatuslogin. html to know the refund
status. Enter your PAN, select the assessment year and click submit to
get the details. You can also send an email to itro@sbi.co.in or
refunds@i ncometaxindia.gov.in for refund related queries. If you have
filed the returns through a chartered accountant, you can check the
refund status by contacting theSBI helpdesk or the aaykar sampark. It
would be advisable to follow up with the assessing officer of the
jurisdiction where the return was filed to get the correct status.

PROCESSING TIME FOR REFUND

E-filing results in quicker refunds. "Taxpayers should mention the
correct bank account number if they want the refund cheque to be
deposited in their account. If a taxpayer wants the refund directly
credited to the bank account, then he/she should provide the MICR of
the bank's branch as well," Sankla says. If you opt to receive the
refund by way of cheque, ensure that you mention your permanent
address in the tax return form. Else, in case you change the address
before receiving the refund, the refund cheque would be returned
undelivered to the I-T department. If the cheque is invalid/expired by
the time it reaches you, intimate the jurisdictional office and send
the cheque back to the refund banker for re-issue.

In cases of e-filing, the refund is received within two to seven
months. For offline returns, it often takes anywhere between one and
two years. In case you haven't received your tax refund, file an
application with the grievance cell or the income-tax ombudsman. "The
taxpayer should visit the tax office for follow-up action on the
refund and enquire about the reasons for it not being processed. The
taxpayer may also approach the assessing officer ('AO') concerned,
with necessary documents. However, if no action is taken by the AO,
the taxpayer can write to the jurisdictional chief commissioner with
copies of the letter/s written to the assessing officer and with a
copy of the tax return filed," says Agarwal.

Courtesy:ET

Cabinet approves the Lokpal Bill, 2011

 

 

The Union Cabinet today approved the proposal for the enactment of a new legislation in the form of the Lokpal Bill, 2011. The Bill provides for the establishment of the institution of Lokpal to inquire into allegations of corruption against certain public functionaries and for matters connected therewith or incidental thereto.

The Bill envisages setting up the institution of Lokpal consisting of Chairperson and eight Members with the stipulation that half of the Members shall be Judicial Members. It will have its own Investigation Wing and Prosecution Wing with such officers and staff as are necessary to carry out its functions.

The Lokpal shall inquire into allegations of corruption made in respect of Prime Minister, after he has demitted office; a Minister of the Union; a Member of Parliament; any Group 'A' officer or equivalent; Chairperson or member or officer equivalent to Group 'A' in any body/ Board/ corporation/ authority/ company/ society/ trust/ autonomous body established by an Act of Parliament or wholly or partly financed or controlled by the Central Government; any director, manager, secretary or other officer of a society or association of persons or trust wholly or partly financed or aided by the Government or in receipt of any donations from the public and whose annual income exceeds such amount as the Central Government may by notification specify. However, the organisations created for religious purposes and receiving public donations would be outside the purview of Lokpal.

The Lokpal shall not require sanction or approval under Section 197 of the Code of Criminal Procedure, 1973 or Section 19 of the Prevention of Corruption Act, 1988, in cases where prosecution is proposed. The Lokpal will also have powers to attach the property of corrupt public servants acquired through corrupt means

Source:pib

Drive for filling up backlog posts

Re-launch of Special Recruitment Drive for filling up backlog reserved vacancies of the Persons with Disability

 

July 29, 2011

 

No 36038/2/2008-Estt (Res)

Government of India

Ministry of Personnel, Public Grievances and Pensions

Department of Personnel and Training

 

North Block, New Delhi

Dated 28th July 2011

 

OFFICE MEMORANDUM

 

Subject Re-launch of Special Recruitment Drive for filling up backlog reserved vacancies of the Persons with Disability

 

A Special Recruitment Drive was launched in November 2009 to fill up the backlog reserved vacancies of persons with disabilities as existing on 15. 11 .2009 While launching the Drive. it was stipulated that all the backlog vacancies will be filled by 15.7.2010 It was. however, noted that progress of the Drive till that date was not satisfactory Therefore, the period of the Drive was last extended upto 30th June 2011,

 

2. On expiry of 30th June. 2011, the Minister of State for Personnel, Public Grievances and Pensions reviewed the achievements of the Drive once again and found that a large number of backlog vacancies were still to be filled up Ile desired that the Drive should be re-launched to fill up the remaining backlog vacancies by the end of this financial year It has, therefore, been decided to re-launch the Drive to fill up the backlog reserved vacancies of persons with disability which have not been filled up till now

 

3 All the Ministries/Departments are requested to make concerted efforts to ensure that the remaining backlog reserved vacancies of persons with disabilities are filled up by 31st March 2012 Meanwhile progress report of the Drive as on 30.6.2011 may be sent to this Department immediately so that the Cabinet may he informed of the present status of achievement of the Drive

 

(Sharad Kumar Srisastava)

Under Secretary to the Govt of India

Telefax 23092110

 

-SOURCE-http://persmin.gov.in/WriteReadData/CircularPortal/D2/D02adm/36038_2_2008-Estt.Res.pdf

Do u hate someone???

"When there is no enemy within, the enemies outside cannot hurt you."

A kindergarten teacher has decided to let her class play a game. The teacher
told each child in the class to bring along a plastic bag containing a few
potatoes. Each potato will be given a name of a person that the child hates,
so the number of potatoes that a child will put in his/her plastic bag will
depend on the number of people he/she hates.

So when the day came, every child brought some potatoes with the name of the
people he/she hated. Some had 2 potatoes; some 3 while some up to 5
potatoes. The teacher then told the children to carry with them the potatoes
in the plastic bag wherever they go (even to the toilet) for 1 week.

Days after days passed by, and the children started to complain due to the
unpleasant smell let out by the rotten potatoes. Besides, those having 5
potatoes also had to carry heavier bags. After 1 week, the children were
relieved because the game had finally ended....

The teacher asked: "How did you feel while carrying the potatoes with you
for 1 week?". The children let out their frustrations and started
complaining of the trouble that they had to go through having to carry the
heavy and smelly potatoes wherever they go.

Then the teacher told them the hidden meaning behind the game. The teacher
said: "This is exactly the situation when you carry your hatred for somebody
inside your heart. The stench of hatred will contaminate your heart and you
will carry it with you wherever you go. If you cannot tolerate the smell of
rotten potatoes for just 1 week, can you imagine what is it like to have the
stench of hatred in your heart for your lifetime???"
*

**Moral of the story:* Throw away any hatred for anyone from your heart so
that you will not carry sins for a lifetime. Forgiving others is the best
attitude to take!

Shadow Lobbying in America Unveiled

Social Cause

(Registered Society No. 614 of 2003)

 

Dr. Ghulam Nabi Fai was arrested by the Federal Bureau of Investigation in US on 19th July, 2011. The charge against him was that he was acting as the frontman of Pakistan's Inter Services Intelligence (ISI). The Washington Times (July 19, 2011) reported that Fai "was arrested by FBI agents in a suspected influence-peddling scheme to funnel millions of dollars from the Pakistani government, including its military intelligence service, to the US elected officials to help drive India out of the disputed Kashmir territory in South Asia". Fai was arrested in the US not for working to drive India out of Kashmir —  as it is not an offence under the US law — but for the offence of funneling ISI money to buy influence over the US officials for Pakistan.

 

This incident has unmasked shadow lobbying by ISI in the US for weaning away Kashmir from India. There are news reports with titles like 'L'affaire Fai: US lawmakers, Indian liberals come under scrutiny' (Times of India, July 20, 2011), 'Indian liberals had availed of ISI hospitality' (Free Press Journal, July 21, 2011), 'ISI agent Ghulam Nabi Fai managed Indian journalists and intellectuals' (Times of Assam, July 22, 2011). The attempts of the ISI to influence Indian intellectuals to undermine India's hold on Kashmir are a matter of grave concern.

 

What will be the effect of this arrest on shadow lobbying ventures? What will be the repercussions of shadow lobbying on stability in South Asia and the world peace?

 

With these questions lingering in many minds, Social Cause cordially invites you and your friends to a Seminar on -

 

 

The Fai Case: Shadow Lobbying in America Unveiled!

 

          Sri K Padmanabhaiah*, IAS (Retd.)

Former Union Home Secretary; Padma Bhushan Awardee

 

will be the Chief Guest.

 

  Sri Pamarty Venkataramana**

International Corporate Lawyer; Advocate, Supreme Court of India, New Delhi

 

   Dr. Kanneganti Ramesh Babu***

Assistant Professor, Advanced Centre for American Studies, OUCIP, Osmania University

 

&

 

   Sri Rahul Razdan****

Co-ordinator, Panun Kashmir

 

will speak.

 

 

     Sri U Atreya Sarma*****

Vice-President, Social Cause

 

 

will preside.

 

 

Date & Time:

31^st July, 2011 (Sunday) at 4:00 pm

 

 

Venue:

Press Club, Opp. Eenadu Office, Somajiguda, Hyderabad

 

 

All are welcome.

 

 

 

You are also welcome to 'LIKE'' Social Cause page on Facebook at http://www.facebook.com/pages/Social-Cause/148051890543

 

If you are on Google Plus, please add SocialCause.India@gmail.com to your friends list.

For further details:

Website: www.socialcaues.org

Email: SocialCause.India@gmail.com   

Mob: 9885908804

It is only one life...

    One song can spark a moment,
    One flower can wake the dream.
    One tree can start a forest,
    One bird can herald spring.
    One smile begins a friendship,
    One handclasp lifts a soul.
    One star can guide a ship at sea,
    One word can frame the goal.
    One vote can change a nation,
    One sunbeam lights a room.
    One candle wipes out darkness,
    One laugh will conquer gloom.
    One step must start each journey,
    One word must start each prayer.
    One hope will raise our spirits,
    One touch can show you care.
    One voice can speak with wisdom,
    One heart can know what's true.
    One life can make the difference,
    You see it's up to you!

Never Judge a Book by its Cover

 

The Story of Koko A. Bassey, MD.

As she stood in front of her primary 5 class on the very first day of
school, she told the children an untruth. Like most teachers, she
looked at her pupils and said that she loved them all the same.
However, that was impossible, because there in the front row, slumped
in his seat, was a little boy named Koko Bassey.

Mrs. Thompson had watched Koko the year before and noticed that he did
not play well with the other children, that his clothes were messy and
that he constantly needed a bath. In addition, Koko could be
unpleasant. It got to the point where Mrs. Thompson would actually
take delight in marking his papers with a broad red pen, making bold
X's and then putting a big "F" at the top of his papers.

At the school where Mrs. Thompson taught, she was required to review
each child's past records and she put Koko's off until last. However,
when she reviewed his file, she was in for a surprise.


Koko's primary 1 teacher wrote, "Koko is a bright child with a ready
laugh. He does his work neatly and has good manners... he is a joy to
be around."

His primary 2 teacher wrote, "Koko is an excellent pupil, well liked
by his classmates, but he is troubled because his mother has a
terminal illness and
life at home must be a struggle."

His primary 3 teacher wrote, "His mother's death has been hard on him.
He tries to| do his best, but his father doesn't show much interest
and his home life will soon affect him if some steps aren't taken."

Koko's primary 4 teacher wrote, "Koko is withdrawn and doesn't show
much interest in school. He doesn't have many friends and he sometimes
sleeps in class."


By now, Mrs. Thompson realized the problem and she was ashamed of
herself. She felt even worse when her pupils brought her Christmas
presents, wrapped in beautiful ribbons and bright paper, except for
Koko's. His present was clumsily wrapped in the heavy, brown paper
that he got from a grocery bag.

Mrs. Thompson took pains to open it in the middle of the other
presents. Some of the children started to laugh when she found a
rhinestone bracelet with some of the stones missing, and a bottle that
was one-quarter full of perfume. But she stifled the children's
laughter when she exclaimed how pretty the bracelet was, putting it
on, and dabbing some of the perfume on her wrist.

Koko Bassey stayed after school that day just long enough to say,
"Mrs. Thompson, today you smelled just like my Mom used to." After the
children left, she cried for at least an hour. On that very day, she
quit teaching reading, writing and arithmetic. Instead, she began to
teach children. Mrs. Thompson paid particular attention to Koko. As
she worked with him, his mind seemed to come alive. The more she
encouraged him, the faster heresponded. By the end of the year, Koko
had become one of the smartest children in| the class and, despite her
lie that she would love all the children the same, Koko became one of
her "teacher's pets."

A year later, she found a note under her door, from Koko, telling her
that she was still the best teacher he ever had in his whole life.

Six years went by before she got another note from Koko. He then wrote
that he had| finished secondary school, third in his class, and she
was still the best teacher he ever had in his whole life.

Four years after that, she got another letter, saying that while
things had been tough at times, he'd stayed in school, had stuck with
it, and would soon graduate from the university with the highest of
honors. He assured Mrs. Thompson that she was still the best and
favorite teacher he had ever had in his whole life.

When children are doing nothing, they are doing mischief.Then four
more years passed and yet another letter came. This time he explained
that after he got his bachelor's degree, he decided to go a little
further. The letter explained that she was still the best and favorite
teacher he ever had. But now his name was a little longer . . . The
letter was signed, Koko A. Bassey, MD.

The story does not end there. You see, there was yet another letter
that spring. Koko said he had met this girl and was going to be
married. He explained that his | father had died a couple of years ago
and he was wondering if Mrs. Thompson might agree to sit at the
wedding in the place that was usually reserved for the mother of the
groom.


Of course, Mrs. Thompson did. And guess what? She wore that bracelet,
the one with several rhinestones missing. Moreover, she made sure she
was wearing the perfume that Koko remembered his mother wearing on
their last Christmas together. They hugged each other, and Dr. Bassey
whispered in Mrs. Thompson's ear, "Thank you Mrs. Thompson for
believing in me Thank you so much for making me feel important and
showing me that I could make a difference."

Mrs. Thompson, with tears in her eyes, whispered back. She said,
"Koko, you have it all wrong. You were the one who taught me that I
could make a difference.

I didn't know how to teach until I met you."

Warm someone's heart today. . . pass this along. I love this story so
very much, Just try to make a difference in someone's life today,
tomorrow? just "do it". Random acts of kindness, I think they call it.

"Laughing Faces Do Not Mean That There Is Absence Of Sorrow!
But It Means That They Have The Ability To Deal With
It" --- Shakespeare

North East Mega Food Park opens by October 2012

In Assam, the North East Mega Food Park, currently under construction at Nathkuchi in Nalbari district is likely to be functional by October next year. Official sources in Guwahati said that the state -of-the-art project under the Ministry of Food Processing Industries under its Vision 2015, will have 27 food processing units. It will prevent wastage of farm produce, and ensure a ready customer for the farmer and quality raw material for the industry

70 % Indians live in rural areas: Census report

Nearly 70 per cent of the country's population lives in rural areas where, for the first time since independence, the overall growth rate of population has sharply declined, according to the latest Census.   Of the 121 crore Indians, 83.3 crore live in rural areas while 37.7 crore stay in urban areas, said the Census of India's 2011 Provisional Population Totals of Rural-Urban Distribution in the country, released by Union Home Secretary R K Singh.   "For the first time since independence, the absolute increase in population is more in urban areas than in rural areas. The rural-urban distribution is 68.84 per cent and 31.16 per cent respectively," Registrar General of India and Census Commissioner C Chandramouli said. The level of urbanization increased from 27.81 per cent in the 2001 Census to 31.16 per cent in the 2011 Census, while the proportion of rural population declined from 72.19 per cent to 68.84 per cent. "The slowing down of the overall growth rate of population is due to the sharp decline in the growth rate in rural areas, while the growth rate in urban areas remains almost the same," Chandramouli said. However, according to the report, the number of births in rural areas have increased by nine crore in the last decade. The statistics reveal that while the maximum number of people living in rural areas in a particular state is 15.5 crore in Uttar Pradesh, Mumbai tops the list having the maximum number of people in urban areas at five crore. The data also reflects that 18.62 per cent of the country's rural population lives in Uttar Pradesh and 13.48 per cent urban population lives in Maharashtra. During 2001-11, the rate of growth of rural population has been 12.18 per cent. The growth of the country's rural population is steadily declining since 1991, the report said. Meghalaya (27 per cent) and Bihar (24 per cent) witnessed the largest growth in population among states in the past decade. Four states that recorded a decline in the rural population during 2001-11 are Kerala (by 26 per cent), Goa (19 per cent), Nagaland (15 per cent) and Sikkim (5 per cent). Though the growth rate of population in rural areas of Empowered Action Group (EAG) states is nearly three times that in rural areas in non EAG states, it is for the first time that significant fall of growth rate is seen in the rural areas of EAG states. The EAG states are Rajasthan, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand, Madhya Pradesh, Chhattisgarh and Orissa. According to the report, though the urban child sex ratio is far worse than that in rural areas, the fall in child sex ratio in rural areas is around four times that in urban areas. However, the decline in the child sex ratio is more gradual in urban areas, the report said. There is a decline of 8.9 million children in rural areas while urban areas have shown increase of 3.9 million children. The data shows there is an increase in the overall sex ratio in the country from 933 in 2001 to 940 in 2011. However, the improvement in the overall sex ratio is largely in urban areas. In rural areas in the country there has been an increase by only 1 point from 946 in 2001 to 947 in 2011. In urban areas there has been an appreciable gain of 26 points from 900 in 2001 to 926 in 2011. In 10 states and UTs, the urban sex ratio is higher than the rural sex ratio in Census 2011. This includes Tamil Nadu, Kerala and National Capital Territory of Delhi, the report said. The report said the child population in the country declined by 5 million or almost three per cent between 2001 and 2011. This is due to the sharp decline of 8.9 million or about seven per cent in the child population in rural areas. In urban areas, the child population increased by 3.9 million or about 10 per cent. The improvement in the literacy rate in rural areas is two times than that in urban areas. The rural-urban literacy gap which was 21.2 percentage points in 2001 has come down to 16.1 percentage points in 2011. There is more improvement in female literacy than in male literacy in both rural and urban areas, according to the data. The gender gap in literacy has come down from 24.6 in 2001 to 19.8 in 2011 in rural areas and from 13.4 in 2001 to 9.8 in 2011 in urban areas.

The issue with POSCO

The Pohang Iron and Steel Company, or POSCO is a leading steel producer of the world,  third largest steel maker by market value and Aisa's most profitable steelmaker. Its major competitors are Arcelor Mittal, Nippon Steel, JFE Group, Tata Steel and Bhusan Steel.

 

POSCO signed a Memorandum of Understanding (MoU) with the Government of Orissa in June 2005, to set up a 12-mtpa green field steel plant near Paradip, Jagatsinghpur District, Orissa, with an estimated investment of USD12 billion or Rs.54,000 crore. The company will build a 4 million tonne per annum capacity steel plant in Orissa, during the first phase of its project by 2010 and expand the final production volume to 12 million tonnes per annum. POSCO-India Pvt. Ltd. was incorporated in 25th August 2005 with the Registrar of Companies, Orissa, under the Companies Act 1956.(source: POSCO-India website).

 

For POSCO, it made all sense to venture into India and China as strategic expansions, and while it has already invested over $2.4 billion in Mainland China, it has not been able to move ahead in India, due to non-ability of the State Government to acquire land. Locals are creating the problem and blaming the Government for illegal attempts to acquire land.

 

Despite the fact that it is the largest FDI investment in the history of India, POSCO seems to be appearing more on papers than going greenfield, with land acquisitions seemingly creating problems for the officials even after almost 6 years of the incorporation of the Company.

 

Jairam Ramesh has already given a go ahead for forest land clearance for POSCO's greenfied project . On May 28 Dhinika sarpanch Sisir Mohapatra  was suspended for misleading the Government against the project.

 

On June 3 , 2011, the State police detained a Basudev Behera, for  creating nuisance against acquisition of his illegal betel nut vine. The police also arrested 17 others on similar grounds. Though most of the locals have vowed to give up their land for POSCO's project and the company in return promises to take all the steps to safeguard the environment and for its effective corporate governance, we still do not see the project taking shape as it should.

 

The economy of Orissa has been lagging behind the national economy by several decades. Its per capita net state domestic product, a measure of average income, stood at Rs.20200 for 2006-07 which falls behind the national average by about 35 per cent. Orissa shows the highest head count ratio (HCR) of poverty at 46.6 per cent in 2004-05 among the states in the country (as per Economic Development in Orissa, Indira Gandhi Institute of Development Research, Mumbai, November 2008).

 

But there have been unhealthy remarks about the project not profitable for India, by human rights activist Binayak Sen. It is claimed that the Company would make a profit of Rs.3 lakh crore on an investment of Rs.54,000 crore.

 

POSCO issue is an example of how cautiously or not the Government is making such huge investment decisions, which will affect the health of the nation in the longer run. Transparency and speed are of utmost importance in the way Indian officials work. For everything else, why not discuss the pros and cons of the project and let the masses decide after placing the figures on the table. Alas! but there are no figures for the masses to analyze just as POSCO has no land.

http://www.mbaclubindia.com

POWER-OF-ATTORNEY

1. Introduction: In the modern world where commerce and industry have assured large and long roles to play , the need for entering into contracts of agreements in relation to business and other transactions have become a common and necessary feature of daily life. As man became busier it became more and more necessary for him to depend on others for getting his things done. The hectic activities of the businessmen and industrialists have made the execution of power of attorney for delegating his functions. Granting a Power of Attorney is a legal process that involves the drafting of a document which assigns to another person the power to act as your legal representative. Principal should be careful while authorising an agent as attorney to avoid inconvenience and expense of any legal proceedings in the future.

2. The Statute: This act may be called as "POWER OF ATTORNEY ACT, 1882", which was passed in the year 1882 on 24th feb and the act came into force on first day of May, 1882. This act applies to the whole of India except State of Jammu & Kashmir. The main aim of passing this statute is to make it easy for your designated attorney to access your finances and, in that way, take care of your property.

3. Definition: According to the 'Section: 1A' of "POWER OF ATTORNEY ACT, 1882", "A 'Power Of Attorney' includes any instruments empowering a specified person to act for and in the name of the person executing it".

4. Meaning: The term 'Power Of Attorney' is an authority given by an instrument by one person, called as the donor or principal, authorising another person, called donee or agent to act on his behalf. There may be possibility of giving 'Power Of Attorney' by two or more persons jointly to one or more persons. Here a legal authority is given by the principal to the agent which may be broad or limited and an agent can take all necessary decisions i.e. financial, property related matters and all other matters where principal cannot be present to sign or in the case of principal's illness and disability. A paper signed by principal giving powers to an agent is sometimes itself called a power of attorney. A paper giving a power of attorney should be clear and understandable.

5. Importance of Power of Attorney: A power of attorney document is an extremely important part of estate planning yet one of the most misunderstood. It is often convenient or even necessary to have someone else act for you as there is advancement in the business and commerce transactions. As many people confuse the power of attorney (POA) with a will (Probate), but these documents are two very different things and have two very different functions. A will comes into effect on the day person die. A POA applies during a person's lifetime and ceases to apply when he dies. So you actually need both a POA and a will as they complement, and do not overlap, each other. To add a twist to the subject, there are two types of POA: one for property and one for personal care. These two types are completely separate. They deal with different areas of your life and both are required for effective estate planning.

6. Classification of Attorney: The Power of Attorney can be classified into two categories which includes:

I. General Power of Attorney: A general power of attorney is one by which an instrument is executed by the principal authorising the agent to do certain acts in general on his behalf. The word 'General' here means that the power must be general regarding the subject matter and not general with regard to powers in respect of a subject matter. If the subject matter is not general but restricted to something either specific or specifically mentioned by the principal while drafting an instrument then it will not constitute a general power of attorney. It is otherwise called as limited power of attorney.

II. Special Power of Attorney: A special power of attorney is one by which a person is appointed by the principal to do some specified act or acts. In this type of power of attorney, an agent conferred with a power to do specific act in a single or specified transactions in the name of the principal.

III. Durable Power of Attorney: A Power of Attorney which specifically says otherwise, agent's power ends if principal become mentally incapacitated. However, a power of attorney may say that it is to remain in effect in the event of future incapacity of the principal. A power of attorney that says this is called a durable power of attorney.

To ascertain whether power of attorney is of general or special in nature, the subject matter in respect of which power is conferred Is to be seen accurately. The power of attorney is the unilateral document wherein donor or the principal gives authoritative power to the agent by signing the document and the agent's sign is not always required.

7. Persons Competent To Execute: A power of attorney can be executed by any person who is competent to enter into a contract. However, the married women can execute powers of attorney even if they are minors. A company while executing power of attorney must make conformity with the 'Articles of Association' and its common seal. A person must be competent to give power to the appointed person so that it will not affect the legality of the instrument/deed of power of attorney.

8. Authentication of power of Attorney: As per Indian law, a power of attorney is a legal document that has to be properly framed, using the right legal terminology and setting out the objectives and responsibilities that you wish to authorise the appointee to carry out on your behalf. If a person wants to authorise someone to act as a power of attorney on his behalf, it must be signed and notarised by a certified notary advocate, who is able to declare that you are competent at the time of signing the document to issue the said power of attorney. You will need to show your ID to the notary advocate before he/she is able to certify and issue the document. It must be executed and authenticated by the registrar or sub-registrar of assurances as per the 'Registration Act, 1908'.

9. Presumption About Power of Attorney: A power of attorney is legal written document which has more legal value and the authenticated attorney will be presumed by the court as legal document under 'Indian Evidence Act, 1872'. According to the Section: 85 of 'Indian Evidence Act, 1872', which provides that the court shall presume that every document purporting to be a power of attorney, and has to be clearly authenticate and executed before the notary or magistrate. If there is any issue arises concerning to the genuineness of the attorney then proof of its execution can be called for the verification.

10. Language of The Power of Attorney: An instrument of power of attorney must always use the language known to the donor and if the donor is an illiterate person then scribe and identifier should explain all the contents of the document in the language known by the donor and it has to be certified by the donor that he has understood all the contents and then he has to put thumb mark on the document. Lastly the administrative officer will take the oath from the donor stating that he knows all the contents of the document and he knows the identifier. A sign and seal must be put by the administrative officer after complete verification of the document.

11. Original Documents To Be Verified: A power of attorney which is accurately authenticated by the notary or any magistrate, an affidavit has to be filed with all the original documents of the power of attorney authorising an agent to do certain acts. All the documents will be verified by the court and then court will register power of attorney by putting seal and sign. It is very much essential to make the power of attorney valid.

12. Powers of Attorney by Two or More Persons: A power of attorney may be executed by two or more persons jointly in favour of one or more persons and when there are several persons as attorneys a complete authorisation in letter to be given by one of them for acting severally. A clause should be included while drafting the deed of power of attorney that all the attorneys should act jointly or separately.

13. Duration of Granted Power: A general power of attorney remains in force unless expressly revoked or determined by the death of either of the party. A special power of attorney will be in force until the specified act is not completed. Duration of the power will depend upon the type of the attorney or there may be a fixed period of power granted by the principal which must be included in the deed.

14. Revocation of Power of Attorney: A power of attorney may be revoked at any time by the principal or donor by giving a written notice to the agent, unless it is for a particular fixed period. Revocation usually possible when principal dies or becomes insane or becomes bankrupt. The principal himself can revoke power of attorney if the business for which the agent was appointed is over as mutually agreed upon by the principal and agent. In case if principal has named a spouse or registered domestic partner as his agent, his or her authority to act under the power of attorney is automatically terminated in the event of divorce, legal separation or termination of the registered domestic partnership.

15. Registration: A power of attorney is not compulsorily registrable unless it creates an interest in any immovable property i.e. charge in favour of donee. Registration of power of attorney is optional In India, where the 'Registration Act, 1908', is in force, the Power of Attorney should be authenticated by a Sub-Registrar only, otherwise it must be properly notarized by the notary especially where in case power to sell land is granted to the agent. If a power of attorney is in respect of an immovable property of value more than Rs100 it must be registered. Registration of power of attorney authenticates the deed of power of attorney.

16. Stamp Duty: A power of attorney is chargeable under Section: 48 of Schedule 1 of the 'Indian Stamp Act, 1899'. A stamp duty has to be paid compulsorily by the principal or donor in the jurisdictional registrar's office.

17. Legal Powers Which Can Be Granted To The Attorney: Broadly speaking a power of attorney provides an agent "all powers that the principal has" to manage the principal's financial affairs or make health care decisions may be enough for many purposes. An agent may be authorised to:

i. To execute all contracts, deeds, bonds, mortgages, notes, checks, drafts, money orders.

ii. To manage, compromise, settle, and adjust all matters pertaining to real estate.

iii. To lease, collect rents, grant, bargain, sell, or borrow and mortgage.

iv. To sell any and all shares of stocks, bonds, or other securities.

v. To file, sign all tax returns, insurance forms and any other documents.

vi. To enter into contacts, and to perform any contract, agreement, writing, or thing to make, sign, execute, and deliver, acknowledge any contract, agreement.

vii. To make health-care decisions for the donor or his minor children.

viii. To sue on behalf of the principal.

18. Qualifications of An Attorney: It is the duty of the Principal to appoint a responsible person as agent who should act with utmost good faith. An attorney is a person who has been appointed by the donor to act on his behalf. An ideal attorney is that who must be willing to act in that capacity and he has to be impartial having integrity. An attorney should be loyal to the donor and should not disclose any confidential matters related to the business.

19. Duties of The Attorney Holder: An attorney holder is a person who is authorised by donor legally. An attorney must not exceed the authority given under the power of attorney. If the attorney does exceed their authority, he or she may be liable for any damages suffered by the donor or others. The attorney may, however, do all those acts which are authorised, but only by a particular method, if the power of attorney so indicates. If there is a breach of any condition by the attorney then he shall be liable to the donor except in a case where he has acted reasonably. If there is some doubt as to the wording of the power of attorney, a solicitor should always be consulted. The attorney holder must also act towards the donor with the utmost good faith and tell the donor the nature and extent of any interest which may conflict with his or her duty. An attorney may pass on his or her powers and duties to another person but only if authorised to do so by the power of attorney

20. Other Related Aspects:

1. Construction Rules: The general rule of power of attorney is that it should be strictly construed. Unless an express power is conferred on an agent to enter into contracts of guarantees on behalf of his principal or to execute or negotiate, negotiable instruments for his principal jointly with others. An agent cannot by his acts bind the principal to a larger extent than he is empowered to do under the power of attorney. He cannot be sued or otherwise held responsible for fraud by the agent. If the power does not authorise the agent to carry on a business except with limitations any act done by him in excess of such power will not bind the principal. For example power to dispose of property does not confer a power to mortgage the property. Power to manage immoveable property cannot permit principal's ornaments which are a moveable proper.
2.  Drafting of Power of Attorney: A deed of power of attorney must be construed so as to include all powers necessary for its execution. There is no legal requirement that a power of attorney be prepared or reviewed by a lawyer. However, if important powers are going to be given to an agent, it is wise to get individual legal advice before signing a complicated form. A person who signs a power of attorney without fully understanding what it means, and without considering risks and alternatives, is asking for trouble. So a power of attorney must be drafted carefully and after knowing all its clauses written in the deed document.
3. Risk Involved In Granting Power of Attorney: With a power of attorney, an agent is often entrusted with important decisions. And the agent may have access to some or all of Principal's money or other property. If the agent is not trustworthy, serious problems can result. For example, if the agent is dishonest and runs away with Principal's money, it may be difficult or impossible to get the money back. An agent is not permitted to use principal's property for his or her own benefit unless he is expressly authorised to do so. Also, a principal will ordinarily be bound by the agent's acts (even foolish acts) and will be responsible for the agent's negligence while the agent is acting for the principal. For example, if an agent is authorized to manage your financial affairs and signs a contract to purchase something on your behalf, you will ordinarily have to pay for it, like it or not. It is obviously important to choose a trustworthy agent; if no trustworthy candidate is available, a power of attorney should not serve its purpose.

21. Conclusion: A power of attorney is very essential legal document which can be admitted as a evidence in the court of law whenever there is any breach of trust by the attorney holder. It's therefore essential that principal has great confidence in his designated attorney. An agents must be someone principal can trust, without reservation, to use his property for him and not for themselves, or anyone else.

http://www.legalindia.in/power-of-attorney

Intel Processor – An inside view

Sand. Made up of 25 percent silicon, is, after oxygen, the second most abundant chemical element in the earth's crust. Sand, especially quartz, has high percentages of silicon in the form of silicon dioxide (SiO2) and is the base ingredient for semiconductor manufacturing.

After procuring raw sand and separating the silicon, the excess material is disposed of and the silicon is purified in multiple steps to finally reach semiconductor manufacturing quality which is called electronic grade silicon. The resulting purity is so great that electronic grade silicon may only have one alien atom for every one billion silicon atoms. After the purification process, the silicon enters the melting phase. In this picture you can see how one big crystal is grown from the purified silicon melt. The resulting mono-crystal is called an ingot.

A mono-crystal ingot is produced from electronic grade silicon. One ingot weighs approximately 100 kilograms (or 220 pounds) and has a silicon purity of 99.9999 percent.

The ingot is then moved onto the slicing phase where individual silicon discs, called wafers, are sliced thin. Some ingots can stand higher than five feet. Several different diameters of ingots exist depending on the required wafer size.  CPUs are commonly made on 300 mm wafers.

Once cut, the wafers are polished until they have flawless, mirror-smooth surfaces. Intel doesn™t produce its own ingots and wafers, and instead purchases manufacturing-ready wafers from third-party companies. Intel™s advanced 45 nmHigh-K/Metal Gate process uses wafers with a diameter of 300 mm (or 12-inches). When Intel first began making chips, it printed circuits on 50 mm (2-inches) wafers. These days, Intel uses 300 mm wafers, resulting in decreased costs per chip.

The blue liquid, depicted above, is a photo resist finish similar to those used in film for photography. The wafer spins during this step to allow an evenly-distributed coating that's smooth and also very thin.

At this stage, the photo-resistant finish is exposed to ultra violet (UV) light. The chemical reaction triggered by the UV light is similar to what happens to film material in a camera the moment you press the shutter button.

Areas of the resist on the wafer that have been exposed to UV light will become soluble. The exposure is done using masks that act like stencils. When used with UV light, masks create the various circuit patterns. The building of a CPU essentially repeats this process over and over until multiple layers are stacked on top of each other.

A lens (middle) reduces the mask's image to a small focal point. The resulting œprint on the wafer is typically four times smaller, linearly, than the mask's pattern.

In the picture we have a representation of what a single transistor would appear like if we could see it with the naked eye. A transistor acts as a switch, controlling the flow of electrical current in a computer chip. Intel researchers have developed transistors so small that they claim roughly 30 million of them could fit on the head of a pin..

After being exposed to UV light, the exposed blue photo resist areas are completely dissolved by a solvent. This reveals a pattern of photo resist made by the mask. The beginnings of transistors, interconnects, and other electrical contacts begin to grow from this point.

The photo resist layer protects wafer material that should not be etched away. Areas that were exposed will be etched away with chemicals.

After the etching, the photo resist is removed and the desired shape becomes visible.

More photo resist (blue) is applied and then re-exposed to UV light. Exposed photo resist is then washed off again before the next step, which is called ion doping. This is the step where ion particles are exposed to the wafer, allowing the silicon to change its chemical properties in a way that allows the CPU to control the flow of electricity..

Through a process called ion implantation (one form of a process called doping) the exposed areas of the silicon wafer are bombarded with ions. Ions are implanted in the silicon wafer to alter the way silicon in these areas conduct electricity. Ions are propelled onto the surface of the wafer at very high velocities. An electrical field accelerates the ions to a speed of over 300,000 km/hour (roughly 185,000 mph)

After the ion implantation, the photo resist will be removed and the material that should have been doped (green) now has alien atoms implanted.

This transistor is close to being finished. Three holes have been etched into the insulation layer (magenta color) above the transistor. These three holes will be filled with copper, which will make up the connections to other transistors.

The wafers are put into a copper sulphate solution at this stage. Copper ions are deposited onto the transistor through a process called electroplating. The copper ions travel from the positive terminal (anode) to the negative terminal (cathode) which is represented by the wafer.

The copper ions settle as a thin layer on the wafer surface.

The excess material is polished off leaving a very thin layer of copper.

Multiple metal layers are created to interconnects (think wires) in between the various transistors. How these connections have to be œwired is determined by the architecture and design teams that develop the functionality of the respective processor (for example, Intel's Core i7 processor). While computer chips look extremely flat, they may actually have over 20 layers to form complex circuitry. If you look at a magnified view of a chip, you will see an intricate network of circuit lines and transistors that look like a futuristic, multi-layered highway system.

This fraction of a ready wafer is being put through a first functionality test. In this stage test patterns are fed into every single chip and the response from the chip monitored and compared to œthe right answer.

After tests determine that the wafer has a good yield of functioning processor units, the wafer is cut into pieces (called dies).

The dies that responded with the right answer to the test pattern will be put forward for the next step (packaging). Bad dies are discarded. Several years ago, Intel made key chains out of bad CPU dies.

This is an individual die, which has been cut out in the previous step (slicing). The die shown here is a die of an Intel Core i7 processor.

The substrate, the die, and the heatspreader are put together to form a completed processor. The green substrate builds the electrical and mechanical interface for the processor to interact with the rest of the PC system. The silver heatspreader is a thermal interface where a cooling solution will be applied. This will keep the processor cool during operation.

A microprocessor is the most complex manufactured product on earth. In fact, it takes hundreds of steps and only the most important ones have been visualized in this picture story.

During this final test the processors will be tested for their key characteristics (among the tested characteristics are power dissipation and maximum frequency).

Based on the test result of class testing processors with the same capabilities are put into the same transporting trays. This process is called œbinning . Binning determines the maximum operating frequency of a processor, and batches are divided and sold according to stable specifications.

The manufactured and tested processors either go to system manufacturers in trays or into retail stores in a box. Many thanks to Intel for supplying the text and photos in this article. Images shown here are Intel core i7 processors

http://www.gconnect.in/lifestyle/get-ahead/intel-processor-an-inside-view.html

J&K Public Services Guarantee Rules,2011

With the notification of Jammu and Kashmir Public Services Guarantee Rules, 2011, now the state people have a right to get their driving licence, ration card, building permission etc within 30 days. There are appeal provisions and penalties for officials violating the rules. I wont say its revolutionary but it will definitely make a difference. Atleast 1% reduction in corruption! for details - jkgad.nic.in.

 

http://jkgad.nic.in/statutory/SRO%20223%20&%20SRO%20224%20Jammu%20&%20Kashmir%20PUB%20Ser%20Gurantee%20ACT.pdf

Tips For Gaining Self Confidence

Each of us has felt the surge of well-being that comes from self-confidence. Some of us have it in greater quantity than others, while some are sadly lacking in this useful, energizing quality. Self-confidence is all about being able trust yourself, knowing that you are strong and capable of handling a particular situation well. This characteristic is linked to one's self-esteem, which is how much one values oneself.

It is self-confidence that is responsible for a large part of success in work and in relationships. Self-confidence leads to achievement and development, and lets you exploit your own potential. Do you feel you could use a bit more of it in your daily life? Explore these tips for gaining self confidence.

First, work on your self-esteem. Do you like yourself? Do you appreciate the things you can do? When you accept, approve of and love the way you are, you have laid the foundation for self-confidence. Berating yourself for failure does you no good, accept your faults and try to correct them without excessive self-blame and guilt.

Keep a positive outlook, focusing on what you do, and have done well. Identify and remember your successes and work with your strengths. You'll find such an attitude does wonders for your faith in yourself. When you're feeling down, make a list of your good qualities – you'll be surprised how nice this makes you feel, and how much it adds to your self-confidence. Always think and speak in a positive way.

Learn how to become more confident from confident people. Imitate their ways of thinking and behavior. Be lively and eager in everything you undertake, and put your heart and soul into things.

One pleasant theory about how to become more confident is known as the "facial feedback theory" which says that the expressions on your face, such as a smile or a frown, can urge your brain towards feeling the emotions represented by these expressions. So smile – at others and yourself!

Dress well. Good clothes give a person heaps of confidence. Knowing that you are perfectly attired and smartly turned out will give you the confidence to sail through the most awkward situations.

Exercise is a great way not only to stay healthy, but to heighten your self-confidence with increased adrenaline in the body. Go for a jog and watch that added spring and bounce in your confident stride…

Avoid negative emotions like envy, jealousy or self-pity. Look for your own path, and don't concern yourself with what others have or are doing.

Make and keep friends who are optimistic by nature, and look at things from the bright side. Try to avoid people who are excessively critical and are constantly putting down those around them.

Set realistic goals and work towards them systematically. Look at failure as a stepping stone to success, and urge yourself on even when things look bleak.

So if you suffer from lack of confidence, don't despair! There are many ways to become more sure of yourself – just try out all these tips for gaining self confidence.

source : http://www.gconnect.in

CYBER CRIMES AND THE LAW

The world 1st computer specific law was enacted in the year 1970 by the German State of Hesse in the form of 'Data Protection Act, 1970' with the advancement of cyber technology. With the emergence of technology the misuse of technology has also expanded to its optimum level and then there arises a need of strict statutory laws to regulate the criminal activities in the cyber world and to protect technological advancement system. It is under these circumstances Indian parliament passed its "INFORMATION TECHNOLOGY ACT, 2000" on 17th oct to have its exhaustive law to deal with the technology in the field of e-commerce, e-governance, e-banking as well as penalties and punishments in the field of cyber crimes.

   Cyber Crimes Actually Means:

                  It could be hackers vandalizing your site, viewing confidential information, stealing trade secrets or intellectual property with the use of internet. It can also include 'denial of services' and viruses attacks preventing regular traffic from reaching your site. Cyber crimes are not limited to outsiders except in case of viruses and with respect to security related cyber crimes that usually done by the employees of particular company who can easily access the password and data storage of the company for their benefits. Cyber crimes also includes criminal activities done with the use of computers which further perpetuates crimes i.e. financial crimes, sale of illegal articles, pornography, online gambling, intellectual property crime, e-mail, spoofing, forgery, cyber defamation, cyber stalking, unauthorized access to Computer system, theft of information contained in the electronic form, e-mail bombing, physically
 damaging the computer system etc.

   Classifications Of Cyber Crimes: Cyber Crimes which are growing day by day, it is very difficult to find out what is actually a cyber crime and what is the conventional crime so to come out of this confusion, cyber crimes can be classified under different categories which are as follows:

1. Cyber Crimes against Persons: There are certain offences which affects the personality of individuals can be defined as:

   Harassment via E-Mails: It is very common type of harassment through sending letters, attachments of files & folders i.e. via e-mails. At present harassment is common as usage of social sites i.e. Facebook, Twitter etc. increasing day by day.
   Cyber-Stalking: It means expressed or implied a physical threat that creates fear through the use to computer technology such as internet, e-mail, phones, text messages, webcam, websites or videos.
   Dissemination of Obscene Material: It includes Indecent exposure/ Pornography (basically child pornography), hosting of web site containing these prohibited materials. These obscene matters may cause harm to the mind of the adolescent and tend to deprave or corrupt their mind.
   Defamation: It is an act of imputing any person with intent to lower down the dignity of the person by hacking his mail account and sending some mails with using vulgar language to unknown persons mail account.
   Hacking: It means unauthorized control/access over computer system and act of hacking completely destroys the whole data as well as computer programmes. Hackers usually hacks telecommunication and mobile network.
   Cracking: It is amongst the gravest cyber crimes known till date. It is a dreadful feeling to know that a stranger has broken into your computer systems without your knowledge and consent and has tampered with precious confidential data and information.
   E-Mail Spoofing: A spoofed e-mail may be said to be one, which misrepresents its origin. It shows it's origin to be different from which actually it originates.
   SMS Spoofing: Spoofing is a blocking through spam which means the unwanted uninvited messages. Here a offender steals identity of another in the form of mobile phone number and sending SMS via internet and receiver gets the SMS from the mobile phone number of the victim. It is very serious cyber crime against any individual.
   Carding: It means false ATM cards i.e. Debit and Credit cards used by criminals for their monetary benefits through withdrawing money from the victim's bank account mala-fidely. There is always unauthorized use of ATM cards in this type of cyber crimes.
   Cheating & Fraud: It means the person who is doing the act of cyber crime i.e. stealing password and data storage has done it with having guilty mind which leads to fraud and cheating.
   Child Pornography: It involves the use of computer networks to create, distribute, or access materials that sexually exploit underage children.
   Assault by Threat: refers to threatening a person with fear for their lives or lives of their families through the use of a computer network i.e. E-mail, videos or phones.

2. Crimes Against Persons Property: As there is rapid growth in the international trade where businesses and consumers are increasingly using computers to create, transmit and to store information in the electronic form instead of traditional paper documents. There are certain offences which affects persons property which are as follows:

    Intellectual Property Crimes: Intellectual property consists of a bundle of rights. Any unlawful act by which the owner is deprived completely or partially of his rights is an offence. The common form of IPR violation may be said to be software piracy, infringement of copyright, trademark, patents, designs and service mark violation, theft of computer source code, etc.
   Cyber Squatting: It means where two persons claim for the same Domain Name either by claiming that they had registered the name first on by right of using it before the other or using something similar to that previously. For example two similar names i.e. www.yahoo.com and www.yaahoo.com.
   Cyber Vandalism: Vandalism means deliberately destroying or damaging property of another. Thus cyber vandalism means destroying or damaging the data when a network service is stopped or disrupted. It may include within its purview any kind of physical harm done to the computer of any person. These acts may take the form of the theft of a computer, some part of a computer or a peripheral attached to the computer.
   Hacking Computer System: Hacktivism attacks those included Famous Twitter, blogging platform by unauthorized access/control over the computer. Due to the hacking activity there will be loss of data as well as computer. Also research especially indicates that those attacks were not mainly intended for financial gain too and to diminish the reputation of particular person or company.
   Transmitting Virus: Viruses are programs that attach themselves to a computer or a file and then circulate themselves to other files and to other computers on a network. They usually affect the data on a computer, either by altering or deleting it. Worm attacks plays major role in affecting the computerize system of the individuals.
   Cyber Trespass: It means to access someone's computer without the right authorization of the owner and does not disturb, alter, misuse, or damage data or system by using wireless internet connection.
   Internet Time Thefts: Basically, Internet time theft comes under hacking. It is the use by an unauthorised person, of the Internet hours paid for by another person. The person who gets access to someone else's ISP user ID and password, either by hacking or by gaining access to it by illegal means, uses it to access the Internet without the other person's knowledge. You can identify time theft if your Internet time has to be recharged often, despite infrequent usage.

3. Cybercrimes Against Government: There are certain offences done by group of persons intending to threaten the international governments by using internet facilities. It includes:

    Cyber Terrorism: Cyber terrorism is a major burning issue in the domestic as well as global concern. The common form of these terrorist attacks on the Internet is by distributed denial of service attacks, hate websites and hate e-mails, attacks on sensitive computer networks etc. Cyber terrorism activities endanger the sovereignty and integrity of the nation.
   Cyber Warfare: It refers to politically motivated hacking to conduct sabotage and espionage. It is a form of information warfare sometimes seen as analogous to conventional warfare although this analogy is controversial for both its accuracy and its political motivation.
   Distribution of pirated software: It means distributing pirated software from one computer to another intending to destroy the data and official records of the government.
   Possession of Unauthorized Information: It is very easy to access any information by the terrorists with the aid of internet and to possess that information for political, religious, social, ideological objectives.

4. Cybercrimes Against Society at large: An unlawful act done with the intention of causing harm to the cyberspace will affect large number of persons. These offences includes:

    Child Pornography: It involves the use of computer networks to create, distribute, or access materials that sexually exploit underage children. It also includes activities concerning indecent exposure and obscenity.
   Cyber Trafficking: It may be trafficking in drugs, human beings, arms weapons etc. which affects large number of persons. Trafficking in the cyberspace is also a gravest crime.
   Online Gambling: Online fraud and cheating is one of the most lucrative businesses that are growing today in the cyber space. There are many cases that have come to light are those pertaining to credit card crimes, contractual crimes, offering jobs, etc.
   Financial Crimes: This type of offence is common as there is rapid growth in the users of networking sites and phone networking where culprit will try to attack by sending bogus mails or messages through internet. Ex: Using credit cards by obtaining password illegally.
   Forgery: It means to deceive large number of persons by sending threatening mails as online business transactions are becoming the habitual need of today's life style.

Affects To Whom: Cyber Crimes always affects the companies of any size because almost all the companies gain an online presence and take advantage of the rapid gains in the technology but greater attention to be given to its security risks. In the modern cyber world cyber crimes is the major issue which is affecting individual as well as society at large too.

Need of Cyber Law: information technology has spread throughout the world. The computer is used in each and every sector wherein cyberspace provides equal opportunities to all for economic growth and human development. As the user of cyberspace grows increasingly diverse and the range of online interaction expands, there is expansion in the cyber crimes i.e. breach of online contracts, perpetration of online torts and crimes etc. Due to these consequences there was need to adopt a strict law by the cyber space authority to regulate criminal activities relating to cyber and to provide better administration of justice to the victim of cyber crime. In the modern cyber technology world it is very much necessary to regulate cyber crimes and most importantly cyber law should be made stricter in the case of cyber terrorism and hackers.

Penalty For Damage To Computer System: According to the Section: 43 of 'Information Technology Act, 2000' whoever does any act of destroys, deletes, alters and disrupts or causes disruption of any computer with the intention of damaging of the whole data of the computer system without the permission of the owner of the computer, shall be liable to pay fine upto 1crore to the person so affected by way of remedy. According to the Section:43A which is inserted by 'Information Technology(Amendment) Act, 2008' where a body corporate is maintaining and protecting the data of the persons as provided by the central government, if there is any negligent act or failure in protecting the data/ information then a body corporate shall be liable to pay compensation to person so affected. And Section 66 deals with 'hacking with computer system' and provides for imprisonment up to 3 years or fine, which may extend up to 2 years or both.

Source : internet