Wednesday, May 2, 2018

How to celebrate Halloween?

The history of the Celtic festival, which today is known as Halloween, goes deep into the old days. According to Celtic legends, on the night of the first day of November, the gate between the two worlds opens, allowing the ancestral spirits to come to our world. The name of the holiday in its modern tale dates back to the English All Hallows’ Eve – the eve of All Saints Day – that in a reduction and gave everyone the familiar “Halloween“.
In the Anglo-Saxon world, on this day, with the onset of darkness, people “reincarnate” in mystical beings and characters – go out into the street in pre-prepared costumes of evil spirits, and in countries where the tradition of celebrating has not yet taken root, Halloween is an occasion for meeting friends and thematic parties. However, there are a lot of corners on the planet where All Saints’ Day is celebrated in its own way.
Let us see how different people in different corners of the world celebrate Halloween.

Celebrate Halloween in Mexico (Latin America)

On the holiday, small altars are usually built in memory of the deceased, skulls made of sugar and verbena are placed there. Small things for the altar are usually collected for a whole year.
Also, the Day of the Dead is a magnificent carnival with a lot of sweets and figures of skeletons “Katarina”. Cemeteries are decorated with bright ribbons, flowers and fruits, the paths leading to the houses are set with burning candles. Such traditions appeared several thousand years ago, even in the Maya and the Olmecs. Then the storage of the real skulls of the deceased relatives meant death and a return to life, relics were put on public display as part of the ritual.

Celebrate Halloween in France

In France, the banned Church of Samhain was replaced by a similar celebration – La Toussaint, which is celebrated on November 1.
On this day, the French are preparing traditional buckwheat biscuits with various fillings and seafood. On the streets are held costumed processions with fireworks, fireworks and torches, balls are held, performances are shown where the main characters are witches and monsters. Celebrants always with special care approach to thinking about every detail of the costumes, because for the best outfit you can get a prize in one of the competitions. Go to the course and mask, and makeup, and everything that will wander into the head. On this day it is customary to see werewolves, vampires, sorcerers, pirates, zombies, various animals and monsters on French streets: they frighten passers-by, knock on doors of houses, wait for encouragement in the form of sweets and other sweets.
In Paris, ancient manor houses, castles and abandoned buildings and cemeteries come to life. Appear luminous from within the pumpkin with carved holes for the mouth and eyes – the so-called lanterns of Jack.

Celebrate Halloween in Bolivia

In Bolivia, the central cemetery in La Paz becomes the site for the human skull parade on November 9 of each year. Feast of the Fiesta de las atitas – it is the rituals and Catholic rites, when all the action centered around the skulls: they are decorated with flowers, bring them something good to eat, give them symbolic gifts, pop in the mouth cigarettes bring to the streets in boxes made of wood or cardboard, packages.
Celebrate Halloween in Bolivia

Celebrate Halloween in Bolivia

So it is in Bolivia analogous to the usual Halloween, although the Day of the Dead is also coming here, but a week earlier (as Da de Muertos), however, it is not so widespread and noisy. The tradition of the Fiesta de las atatitas came from ancient times: the indigenous inhabitants of the Andes spent one day with the remains of their relatives – every year three years after their death. Now the celebration has acquired a modern character. An unusual tradition has survived, rather, out of fear that the skull, which the family does not care about, will bring misfortune and failure. Bolivians believe that everyone has seven souls, and the latter remains in the skeleton.

Celebrate Halloween in Russia

In Russia, the church opposes Halloween, which, however, does not prevent young people from enjoying the holiday, holding themed parties and having fun. Nevertheless, in Russia there is also a real analogue of the Western celebration if we talk about Halloween as the Day of All Saints, it is the Day of the Holy Trinity or Pentecost.
It was only in the 14th century that Pentecost began to celebrate Pentecost after St. Sergius of Radonezh introduced it into the calendar. There is no clearly fixed date – the Day of the Holy Trinity is celebrated on the 50th day after Easter and is one of the main holidays for Christians.
Pentecost lasts either one day, or three days (Sunday, Monday and Tuesday). The Trinity completes the spring cycle of festivities (Prelocation, Ascension, Semik, a week before the Trinity). On the eve of a parental Saturday is celebrated – a tribute of respect and reverence to those who were not buried according to Christian customs. On Holy Trinity Day, special songs are sung, ceremonial service, liturgy and vespers are held, when the descent of the Holy Spirit is celebrated. The traditional attire for the feast has an emerald color, it is customary to wear flowers and birch twigs. The day of the Holy Spirit is the day after the Trinity.

Monday, April 30, 2018

How to get Birth Certificate in USA?

Looking for Birth Certificate in USA? This article will help you to get one.

Your birth certificate is the most important document you’ll need to prove your legal identity and age. You’ll need it to apply for a passport or government benefits, enroll in school, join the military, or claim pension or insurance benefits. If you need a copy, where you were born will determine how to get it.
 
Birth Certificate in USA

Birth Certificate in USA If You Were Born in the U.S.

For a certified copy of your birth certificate, contact the vital records office in the state where you were born for instructions on how to request a copy and information on any fees.

If you need to get a copy of your birth certificate quickly, ask the vital records office at the time you place your order about getting expedited service or shipping.

Birth Certificate in USA If You Were Born Abroad, or on a Military Base Abroad

If you were born to American parents abroad, they should have registered your birth with the U.S. Embassy or consulate in that country, and received a Consular Report of Birth Abroad. You can get a copy of this report from the U.S. Department of State. Depending on the country, a vital records office in the nation may also list the birth.

If you were born on a military base abroad, and your parents did not register your birth with the U.S. Embassy, you may have to contact the hospital where the birth took place. You may also try contacting the base operator or public affairs office for the appropriate military branch.

Birth Certificate in USA If You Were Born Abroad and Adopted by a U.S. Citizen

The country in which you were born issued your birth certificate. If you need a replacement, you must contact the nearest foreign embassy or consulate for that country. A child born in a foreign country and adopted by a U.S. citizen will not receive a U.S. birth certificate. If the document is in a language other than English, you should also seek the embassy’s help in getting the document translated if you require authenticated documents.

If you need to replace naturalization/citizenship documents for a child who was adopted from a foreign country by a U.S. citizen, you will need to fill out an application for replacement of naturalization/citizenship form or contact U.S. Citizenship and Immigration Services for further help.

Sunday, April 29, 2018

How to check your TDS amount and Form 26AS online in India?

If you’re a salaried person, then you very well know that every month your employer deducts some amount from your salary and submit it to income tax department. This is called Tax Deducted at Source (TDS). But this is not the only case. There are many rules in services / business where one has to deduct TDS before giving payment to other.

The most important rule is that you must submit your correct PAN number to your employer / tax deducter

At the end of financial year, you can seek the refund of TDS from income tax department, if you’re eligible as per income tax rules and regulations by showing Form 26AS as a proof.

tdsOne needs to be very careful here. What if your employer told you that he had deducted TDS from your salary but did not submit to income tax department? In that case, it’s a problem for you.

So, it’s better to keep checking your your TDS amount in income tax department. In this article, we’ll discuss how to check your TDS amount and Form 26AS online.

There are 3 ways to do so.

Way 1 to check your TDS amount and Form 26AS online

Visit the official website of Income tax department at https://incometaxindiaefiling.gov.in/

You’ll get the screen like this:

tds

Now, click on “Register Yourself” link given at the top right side of the screen.

Registration process is simple, self-explanatory and takes just a couple of minutes. Keep your PAN number handy in this step.

Now, login to your account and click on “View Tax Credit Statement (From 26AS)” in “My account”. You can see your Form26AS there.

Way 2 to check your TDS amount and Form 26AS online

You can see Form26AS by using NetBanking account of your bank. Many authorized banks show link to see your TDS / Form26AS when you login to your account in bank. There is no need for separate registration / login.

List of banks registered with NSDL for providing view of Tax Credit Statement (Form 26AS) are as below:

  1. Allahabad Bank
  2. Andhra Bank
  3. Axis Bank Limited
  4. Bank of Baroda
  5. Bank of India
  6. Bank of Maharashtra
  7. Canara Bank
  8. Central Bank of India
  9. Citibank N.A.
  10. City Union Bank Limited
  11. Corporation Bank
  12. Dena Bank
  13. HDFC Bank Limited
  14. ICICI Bank Limited
  15. IDBI Bank Limited
  16. Indian Overseas Bank
  17. Indian Bank
  18. Karnataka Bank Limited
  19. Kotak Mahindra Bank Limited
  20. Oriental Bank of Commerce
  21. Punjab National Bank
  22. State Bank of Bikaner & Jaipur
  23. State Bank of Hyderabad
  24. State Bank of India
  25. State Bank of Mysore
  26. State Bank of Patiala
  27. State Bank of Travancore
  28. Syndicate Bank
  29. The Federal Bank Limited
  30. The Karur Vysya Bank Limited
  31. The Saraswat Co-operative Bank Limited
  32. UCO Bank
  33. Union Bank of India
  34. United Bank of India
  35. Vijaya Bank

You can get updated list of bank at https://www.tin-nsdl.com/view-tax-credit/panregistration-viewtaxcredit.php

Way 3 to check your TDS amount and Form 26AS online

You can also register yourself on TRACES website at http://contents.tdscpc.gov.in/ and view your Form26AS. This information is also free of cost.

Some useful links to check your TDS amount and Form 26AS online

FAQ on TDS by Income tax department

E-tutorials for TRACES users

FAQ on TDS by TRACES

How to Save Tax Legally

Taxes are the main revenue part of the budget of any state. This is compulsory, mandatory and gratuitous payments, so it is understandable the desire of the recipient of income or the owner of their property to reduce. Of course, aspiring businessmen are also interested in how to reduce LLC taxes or how IPs pay fewer taxes. Such an opportunity really exists, and, for this, it is not necessary to violate the law.

The right to apply tax incentives and choose the most beneficial tax option is enshrined in the Tax Code and is confirmed by the Constitutional Court of the Russian Federation. Reducing the tax burden by legal methods is called tax optimization and is radically different from tax schemes.

What is a tax scheme

Scheme tax authorities call methods of financial and economic activities with high tax risk. Unfair optimizers, offering various methods of reducing the tax burden, share these ways in this way:

  • white schemes allowed by law;
  • grey schemes, which use defects or inaccurate interpretation of the law;
  • black schemes, the purpose of which is tax evasion with a clear violation of the law.

Save Tax LegallyIn fact, legal ways to reduce tax payments by the scheme are not at all. These are the methods of tax optimization permitted by law, we will discuss them later. All other schemes, allegedly reducing the tax burden in some magical way, are well known to the tax authorities. Such methods are called tax evasion and are punished accordingly, right up to serious criminal liability.

One of the most popular schemes with high tax risk is the cashing of LLC’s money for the personal purposes of the participants. The reason for its relevance is that, in terms of taxation, there is a fundamental difference between IP and LLC. An individual entrepreneur can freely and at any time withdraw from the business legally earned funds. However, this ease with the use of money is a kind of risk payment, because if so, the IP is responsible for its obligations with all its assets.

LLC – this is a legal entity, but it is created by its individuals interested in earning income. The difficulty lies in the fact that a member of an LLC can not simply take money from the cash department of his organization or withdraw them from a settlement account. Even if the participant is the only one who manages his company, the money of the LLC does not belong to him. He can get a part of the profit in the form of dividends, and do it right not more often than once a quarter and under certain conditions. In addition, having received dividends, the owner of the business must still pay tax on them – at a rate of 13%. It becomes clear why the illegal cash withdrawal scheme is so popular among company owners – after all, you want to get income from the business quickly, at the required level and without paying additional taxes.

For the illegal withdrawal of money from the organization, the owner needs an intermediary. They may be a one-day company or an individual entrepreneur (sometimes for this the participant of an LLC is registered as an individual entrepreneur). An intermediary is contracted for the provision of services or payment for goods, payment is transferred, fictitious documents are issued that confirm that the services were rendered and the goods arrived. Further money, minus commission to the intermediary (about 5%), is returned to the owner, but already as an individual. This scheme is not only well understood by the tax authorities but also carries a high risk that the intermediary will hide with the money, and the “visionary” owner will remain with nothing.

In addition to options for explicit tax evasion (in this case, a tax on dividends), illegal tax schemes offer a variety of ways to understate revenues and overstate the taxpayer’s expenses. We recommend you not to trust such proposals, all the more so, try to independently assess the risks of ways of white and black tax optimization.

Legal ways to save on taxes

1.Choose the most suitable tax system for you. This is the basis of tax optimization. Special tax regimes allow organizations and IPs to pay a very small part of their income to the budget. Taxpayers who choose USN Revenues or UTII have the right to reduce the calculated tax by half, due to the payment of insurance premiums for employees. Individual entrepreneurs on USN and SPE can two years after registration work within the framework of tax holidays, the tax for them will be zero.

2. Check the integrity of your counterparties. This is especially important if you have to keep track of expenses within the framework of your taxation system (OCHO, STS Income Minus Expenditure, ESA). If your counterparty is found unfair, then the transaction costs will not be accepted by the tax inspectorate, accordingly, you will have to pay more taxes, even if the business transaction was real and economically justified.

3. Observe the requirements for the conclusion of contracts. In addition, there are conditions for each type of transactions, without which the contract will be recognized as unfinished, there are requirements to the requisites and the form of the document. Be sure to verify the authority of the person who signs the contract, without this the transaction will not have legal consequences.

4. Maintain and retain primary documents that confirm the fact of the economic transaction. Without primary documents, transaction costs will not be taken into account, the tax base will be larger, and the tax will be higher.

5. Develop the right accounting policy. In accounting and tax accounting there are many nuances of recognizing income and expenses, depreciation, creation of reserves, accounting of fixed assets, etc. Depending on the specifics of your business, accounting policy will help legitimate methods to reduce the tax base and payments to the budget.

6. Study the risk criteria for conducting on-site inspections and try to reduce them. Scheduled field inspections in most cases result in additional taxes and fines. These risks are easier to prevent than to cope with their consequences.

7. Observe the deadlines for submitting reports, declarations, and payment of taxes. Although this method does not directly save taxes, it avoids accrual of fines, arrears, fines and problems related to the blocking of a settlement account.

8.Reach tax optimization only for professionals with extensive experience and excellent reputation! This is perhaps the most important way to save on taxes. Remember, you are the risks for illegal tax schemes, and not your questionable advisers.

Thursday, March 15, 2018

Aadhaar linking Date Extends till SC gives its order

If you’re planning to link your aadhaar number with your mobile phone or with bank accounts, this news is really relevant to you.

The Supreme Court on Tuesday extended indefinitely the March 31 deadline for mandatory linking of Aadhaar + with bank accounts and mobile phones.

The SC said that its interim order on not insisting Aadhaar, except for giving subsidy, will remain in force till the five-judge bench gives its judgment on petitions challenging the constitutional validity of Aadhaar.

“The government cannot insist for mandatory Aadhaar even for issuance of Tatkal passport,” the Supreme Court said.

A five-judge constitution bench headed by Chief Justice Dipak Misra had on March 7 said it may not be possible to decide by March 31 the batch of petitions challenging the constitutional validity of the Aadhaar Act.

The bench, which also comprised justices A K Sikri, A M Khanwilkar, D Y Chandrachud and Ashok Bhushan, had earlier said that since the matter would have implications on financial institutions like banks and stock exchange, it would create a huge problem of compliance if the deadline was extended at the last moment.

On December 15 last year, the apex court had extended the deadline for linking of Aadhaar with bank accounts and mobile phones to March 31

Earlier, the top court had observed that the alleged defect of citizens’ biometric details under the Aadhaar scheme being collected without any law could be cured by subsequently bringing in a statute.

It had said that the Centre came out with the law in 2016 to negate the objection that it was collecting data since 2009 without any authorisation, but the issue which needed consideration was what would happen if the data collected earlier, had been compromised.

Thursday, January 25, 2018

Now Get Unlimited Calls, 1GB 4G Data for 28 Days at Rs. 49 with Jio Phone

Jio is not stopping in giving lucrative offers to its customers after every few days and sometimes after few hours. Just a day back, Jio announced Jan 26 offer, where its customers can get 50% more internet data on some plans. And now, today offer is for Jio featured phone users, where they can get lots of benefits for just Rs.49.

Jio Rs.49 Plan

 Yes, that’s true. Jio featured phone users can now avail unlimited calls, 1GB 4G data for 28 days at just Rs.49. Users of Jio featured phone are can enjoy Jio apps like Jio TV, Jio Music and Jio Cinema. But with 1 GB of data for 28 days means users can enjoy internet for few minutes every day. 

Jio Rs.49 Plan

Jio Rs.49 Plan

Such an experience will be good for those who have just shifted from the basic featured phone without internet to Jio featured phone with 4G internet connection.

Reliance Jio phone is available at just Rs.1500/-, which will be refunded to the customer after 3 years. One must note the fine print of terms and conditions before buying this phone as one has to compulsory recharge for a minimum amount of money on this connection.

Jio Phone Feature

The KaiOS-running Jio Phone features a 2.4-inch display with 240×320 pixels resolution and is powered by a 1.2GHz dual-core processor, coupled with 512MB RAM. The phone has a 2-megapixel rear camera sensor and a 0.3-megapixel front camera sensor and packs a 2000mAh battery.

 

Wednesday, January 24, 2018

Jio January 26 offer will give 500MB more data with 1GB, 1.5GB per day plans

On the occasion of Republic day in India, Reliance Jio January 26 offer will give 500MB more data with 1GB, 1.5GB per day plans.

Under the new plan, customers of Reliance Jio will get upto 50% more internet data with its plan priced at Rs.149 and above.

The company’s 1GB data per day plans are priced at Rs. 149, Rs. 349, Rs. 399 and Rs. 449, with validities of 28 days, 70 days, 84 days and 91 days, respectively. However, with the Jio Republic Day Offer 2018, customers will get 50 percent more data as the daily high-speed data cap will be raised to 1.5GB per day. This means the 1GB data per day plans are effectively phased out, at least till the Republic Day offer continues.

Similarly, the 1.5GB data per day plans will now offer 2GB of high-speed data a day. So customers will now get more data with the Rs. 198, Rs. 398, Rs. 448 and Rs. 498 plans. This pretty much leaves the Rs. 299 plan redundant as subscribers will be able to get the same benefits (2GB per day for 28 days) at Rs. 198.

Jio January 26 offer

Jio January 26 offer

The Rs. 98 Jio plan is also being revised to offer twice the current validity as part of the Republic Day offer. Users will get validity of 28 days at Rs. 98, up from 14 days. However, the 4G data allocation with the plan is 2GB for the entire 28-day period; customers presently get 150MB of 4G data per day data with the pack.

Customers will have to buy a new recharge pack on or after January 26, 2018 to avail the data benefits under the Jio Republic Day Offer. The new recharge pack will be queued, and will come into effect once the current plan’s validity runs out. For example, if a subscriber has the Rs. 349 plan with 70-day validity that ends on February 29 and then buys the Rs. 349 recharge after January 26, they will get 1GB data per day in February, and then 1.GB per for 70 days from March 1. Alternatively, they can cancel the active plan in the MyJio app and activate the 1.5GB data plan as soon as they buy it.

Saturday, January 6, 2018

How to Link Aadhaar Card with Mobile Phone at Home?

This article explains how to link Aadhaar card with mobile phone without visiting any Telecom outlet. You can do it sitting at home or in office and the whole process takes just couple of minutes.

The Government has made mandatory to link addhaar card with mobile phone for all phone subscribers. Even, if you’ve already submitted your aadhaar card details, you need to undergo re-verification.

Link Aadhaar Number with Mobile Phone

Steps to link aadhaar card with mobile phone:

  1. Dial toll-free number 14546 from your mobile phone
  2. Choose the desired option whether you’re an resident Indian or NRI.
  3. Press 1 to give your consent to link aadhaar card with mobile phone
  4. Enter your aadhaar card number and press 1.
  5. Now, you’ll get One-Time Password (OTP) on your mobile phone.
  6. Enter your phone number.
  7. Here, the system picks up your name, DOB, photo from UIDAI database.
  8. The system will now mention the last 4 digit of your number to confirm that you have keyed in the right number. If the number is right, enter the OTP you received on your mobile phone.
  9. Press 1 to complete the re-verification process.
  10. Press 2 if you want to link some other number with your aadhaar card.

Important points to remember:

  1. Last date to link Aadhaar card number with mobile phone is 6-Feb-2018.
  2. The OTP received on your phone is valid for 30 minutes.
  3. Subscribers who are on corporate plans do not need to need to undergo the re-verification process.

Try the above process and if you get any problem in linking your aadhaar card with mobile phone, just mention the problem in the comments section below.

 

Tuesday, December 19, 2017

History of Cryptocurrency

In the last 3 articles, we discussed basics of Cryptocurrencymining in Cryptocurrency and then Units and Storage of Cryptocurrency. In this article, we’ll learn about the history of Cryptocurrency. 

Despite the fact that ideas for the development of digital currencies appeared in the 80’s and 90’s of the XX century, they were realized in a full-fledged workable project only at the end of the “zero” years of the 21st century. The pioneer and leader among the crypto-currencies was and still is Bitcoin , the development of which, according to Satoshi Nakamoto, began back in 2007, and in 2008 materials were published describing algorithms and protocols for creating a crypto-currency network that and were realized by enthusiasts by the beginning of 2009.

This is not very well known fact, but the first attempts to create completely decentralized digital currencies were made in the early 80’s by American cryptographer David Schaum . A special look at money and the pursuit of privacy led him to the idea that in order to ensure safe trade, the economy needs symbolic money that will emulate cash: in particular, in terms of storage convenience, as well as fast and safe transactions without intermediaries. After the migration to the Netherlands, David Shaum tried to promote his project to a broad market, but, unfortunately, he and his company made some mistakes and everything collapsed.

So the first big wave of crypto-currency was drowned and died, and then the second one was born. Its canonical representatives include PayPal and Webmoney . But they, too, were not ideal. In particular, the mediation factor that interferes with payments directly has not been eliminated, and there is also a lot of control from the state, so the digital currencies (and their numerous analogues) have been replaced by digital money of a new, third wave – completely decentralized crypto-currencies, among them a pioneer and unconditional the leader is already known to all Bitcoin , created in 2008 by an anonymous developer ( or a group of individuals ) with the pseudonym ” Satoshi Nakamoto”.

History of Cryptocurrency

History of Cryptocurrency

The first year the process of introducing new technology was very slow, but by the end of spring 2010, it had started to accelerate significantly, due to the increase in the number of bitcoins, and thanks to the emergence of forums, exchanges, the formation of new teams of enthusiasts. On May 22, 2010, one of the most significant events in the history of BTC occurred – the first exchange of crypto-currencies for a real product (the purchase by American miner Laszlo Hanec of two pizzas with delivery for 10 thousand BTC, which, at that time, cost only about 50 dollars , but three years later, such a number of bitcoins cost about $ 11 million, and not much later – all $ 25 million).

Despite the fact that in 2011, the bitcoins already exceeded the price of $ 17, the history of rapid mega-enrichment did not stop, attracting more and more participants to this market.

So, in June 2011, on the MtGox stock exchange , a certain guy named Kevin , taking advantage of the fact that someone laid out a huge application for the sale of hundreds of thousands of bitcoins, thus dropping the market from $ 17.50 to $ 0.01 per BTC , was able to buy for almost $ 2613 almost 260 thousand BTC!

For many Bitcoins success became apparent as early as 2011, the year, and then, the team began to create other cryptocurrency ( there Litecoin, Namecoin, Ripple and others ). By the end of 2013, the first real boom came, when the prices for Bitcoin soared above $ 1000, and new crypto-currencies began to appear one after another.

However, the rapid rise followed the same sharp decline when, at the end of 2013 – early 2014, after the termination of the rally, the bankruptcy of MtGox and the departure of Michael Hearn from the crypto-currency industry, the price of bitcoin collapsed from more than $ 1,100 to $ 100 on some exchanges, pulling for themselves and the rest of the market. During the entire 2014 and the first half of 2015, the exchange rate was very unstable, until it settled around $ 220-250 by the end of summer 2015, after which it again began its gradual ascent. By the summer of 2016, it exceeded $ 750 , and by the end of the spring of 2017 it had reached $ 3,000 per bitcoin.

At the time of writing this article, I unit of Bitcoin is trading @ US$16,441.18 or 10,53,263.09 Indian Rupee

Other altcoyins (“alternative digital currencies”, the so-called all other crypto currencies other than BTC) also significantly increased their price, and the total market capitalization by the middle of 2017 exceeded 110 billion USD ( more than 44 of them account for bitcoin ).

 

 

 

Units and Storage of Cryptocurrency

In the last 2 articles, we discussed basics of Cryptocurrency and mining in Cryptocurrency. In this article, we’ll learn Units and Storage of Cryptocurrency. 

Units and Storage of Cryptocurrency

Almost for all traditional currencies, the minimum value is 1/100 share or 0.01 ( cent for a dollar, a penny for a ruble, etc. ). In crypto currency, such a minimum unit is not one hundredth, but one hundred million or 0.00000001 ( satoshi for bitcoin, litoshi for litecoin, marcus for doge, etc. ). For example, 1 bitcoin – a hundred million Satoshi.

You can store crypto-currencies :

  • locally, downloading to your computer a special client-wallet, much like WM Keeper Classic;
  • online, registering with services like blockchain.info, removing the need for itself, constantly download huge amounts of information with the history of transactions on the network;
  • on exchanges, generating a purse address for receiving the necessary crypto currency, in its essence this method is similar to the previous one;
  • with the help of special hardware devices – crypto-currency wallets, providing a very high degree of security of stored products.

The basis of crypto-currency technology is :

  • decentralization (work in a distributed network without a single regulatory center);
  • anonymity, which is achieved by using an impersonal public bitcoin address in place of personal data both in traditional banking operations (combining Bitcoin technologies with anonymizers hiding this IP, you can achieve a very high degree of stealth);
  • the formation of transactions in sequential block-chains, information about which is transmitted to all nodes of the network, which makes it difficult to forfeit transactions or double-spending, even if the hacker breaks the algorithm and enters a false transaction into the block, this block is linked to others, the forgery will quickly open and will be rejected by the network, and in order to cope with this, an attacker will need to have computing power exceeding 70-80% of the capacity of the rest of the network, which in principle is impossible;
  • the use of encryption algorithms to protect the block (various cryptographic algorithms can use different algorithms of cryptography, for example, Bitcoin, Peercoin, Namecoin and some others use SHA-256, Litecoin-Scrypt, and Ethereum-Ethash).

 

Wednesday, November 15, 2017

Mining in Cryptocurrency » Everything you Should know

In the previous article, we discussed basics of Cryptocurrency. In this article explains everything about Mining in Cryptocurrency. 

Mining in Cryptocurrency

In traditional financial systems, new banknotes are simply printed by the governments of countries when they need it. But digital currencies appear differently. They are generated by computers, and this process is called mining.

In most systems, the number of units of cryptocurrency is fixed and determined in advance. This rule does not always apply, in Ethereum, Ripple, Namecoin and some other digital currencies, the final number of tokens is not specified and may increase as the market needs.

As for the emission itself, the most well-known method of its implementation is the mining (PoW) used in the Bitcoin, Lightcoin, Dogecoin networks and many others (in some systems it may be absent, and emissions are produced by ICF, ICO, or PoS) ).

What is CryptoCurrency Mining?

Mining in simple words is a process during which mathematical puzzles are solved, as a result of which new blocks of information are released. This brings a certain amount of electronic money, which is entered into the common piggy bank and registered in the public ” ledger ” ( blockchain ). Also at this time, transactions with already existing coins are processed. They are checked on the computing devices of participants in the P2P network and added to the chain of blocks.

Mining in Cryptocurrency

Mining in Cryptocurrency

During the mining process, the last transactions are checked for authenticity and compiled into blocks. The participant who first solves this problem receives a reward. This approach was specially conceived as an incentive for those who sacrifice the computing power of their computers to maintain the network and extract new coins. For the first time such a method was applied in the digital currency Bitcoin and at the moment most of the other crypto currency acts according to similar principles.

Everything is arranged in such a way that the complexity of the calculations steadily increases, which requires a constant increase in the computing power of the network. In the first months after the appearance of Bitcoin, Mein effectively it can be almost any computer, cycling only the CPU, but very soon complicated network so that even on the top PC with a powerful processor to do it became unprofitable.

Then, powerful video cards began to be used for this purpose, and the hardware manufacturers began actively producing motherboards with 3, 4 and even 5 PCI-Express slots for installing top-end graphics adapters in SLI or Crossfire mode. On the basis of powerful video cards, amateur luminaries began to collect so-called “farms” – special computers intended for the commercial development of crypto-currencies.

However, as the Bitcoin network became more ccomplex, even powerful farms became less and less profitable and associated it for several reasons:

First, the emission protocols at the heart of Bitcoin are structured so that the reward for mining is not distributed evenly, and the most powerful machines are preferred;

secondly, after calculating every 260 thousand blocks, which occurs approximately every 4 years, the size of the reward for calculating one block is reduced by a factor of 2 (“halving” occurs).

So, initially, the reward was 50 BTC per block, from 2013 to mid 2016, 25 BTC, after that – only 12.5, and by 2020 it will decrease to 6.25 BTC, which makes mining less and less profitable. The solution was to pool users into pools to increase the efficiency of cryptocurrency production, while all the profits are distributed among the participants according to the power of their computers. A new word in the mining was the appearance in 2013 of ASIC-modules, and special industrial computers based on them, designed to calculate hashes.

Today, the mining of cryptocurrency without money is practically impossible. Especially this concerns Bitcoin mentioned earlier – it’s impossible to join there with your computer; the power of whole servers, the so-called bitcoins-farms, is directed to the mining of bitcoins. What to say – the largest bitcoin-farm located in China, for electricity alone, spends $ 80,000 monthly.

This is just the introduction to Mining in Cryptocurrency. In the coming articles, we’ll understand what all stuff you need to do Mining in Cryptocurrency and how to do it.

Tuesday, November 14, 2017

Everything you Should know about Cryptocurrency

This article is the beginning of series on Cryptocurrency. This is a new type of internet currency. I’ll write about 10-15 articles now, explaining everything you should know about Cryptocurrency – from the introduction to mining, from units to storage, from buying to selling Cryptocurrency and much more.

Cryptocurrency or digital currency is an invention of the Internet age. Their story began with the fact that some people once came up with the idea ” Hey, why do not we create money for the Internet, which no state can pile on?” 

The idea turned out to be successful and now the market has more than 4,000 crypto-currencies.

Most of them are created on the principle of ” just for fun ” ( or, more simply, for entertainment ) and are practically useless. Others were originally developed as alternative banknotes and, thanks to the efforts of their creators, they today have a mass audience and a profitable exchange rate relative to real currencies, for example, 1 bitcoin costs more than $ 7,000.

Initially, when there was only Bitcoin, Satoshi Nakamoto, and other developers call it electronic cash ( electronic cash ), but after a controversial article in Forbes, the name ” cryptocurrency » ( cryptocurrency ) is well established for this class of electronic instruments.

What is a Cryptocurrency in simple words?

The term ” crypto-currency ” is formed from two words: cryptography and currency, that is, a protected electronic currency, based on the principles of encryption by mathematical algorithms.

Saying that such a cryptocurrency in simple words, we can give the following definition: it is an encrypted decentralized monetary unit, which can be freely transferred between the network participants, and also used to pay for various goods and services.

Cryptocurrency

Cryptocurrency

Since most virtual money systems are not controlled by national governments, they are mainly used as a means of financial exchange, which operates outside the state monetary policy.

In the west, another definition is also popular. Therefore, in response to a question about what a cryptocurrency is in simple words, you can hear: ” This is electricity converted into lines of code that have a real monetary value .”

After all, cryptocurrency is actually a pure code that was created using mathematical calculations on a PC and packed into an encrypted container. And the value of such money is not supported by goods or raw materials, but solely by the desire and demand of the users themselves. Therefore, any assets in this category tend to grow very fast and fall, which makes them extremely volatile and risky.

How the Cryptocurrency works – the basic principles

A full understanding of “what a cryptocurrency is”, is impossible without knowing how it works ( at least superficially ). To get a more detailed idea of the concept of virtual money, knowledge of the following terms will help:

Blockchain (chain of blocks)

This is a kind of ledger, which automatically records data about all transactions in which each currency unit participated. Copies of the chain of blocks are stored in the user’s wallet, in the money itself, the P2P network nodes through which the currency and the special public server are distributed. Due to this component, virtual banknotes are unique, which prevents the appearance of clones and counterfeits. Technically, no transaction with crypto-currencies occurs without adding blocks to the chain, and after this happens, it becomes irreversible.

An important point: the chain contains information only about the money itself, and not about its owners, so the entries can not be used to deaononize the user.

Wallets

For all crypto-currencies there are “purses” with unique information identifying their owners. They are reliably encrypted using private keys, which ideally reduce the risk of virtual money theft to near zero. Why ideally? Single cases of hacking wallets do happen. For example, the Japanese Bitcoin-Exchange Mt. Gox declared bankruptcy after hackers stole virtual money in the equivalent of 450 million dollars. However, this theft was the result of a targeted attack by a group of specialists with the help of powerful computing equipment. Therefore, ordinary users have nothing to fear – their hacking for intruders is economically inexpedient.

Transactions

Transaction is the transfer of funds between two digital purses. First, the data about it are received in the public book and are awaiting confirmation. And when the mathematical proof that the transaction comes from the owner of the wallet will be received, the process will be completed.

Mining

Under this process is meant the extraction of virtual money by users, who are called miners or “miners”. They generate new monetary units or add data about checking the latest transactions in a public book (a chain of blocks). To perform these tasks, “miners” solve on their devices complex mathematical puzzles. Such a scheme was developed in order to obtain solutions that are easy to verify, but very difficult to find. When one of the miners decides a puzzle, it passes the result to other network members who are checking its correctness. If everything is in order, the money is added to the general register, and the “miner” who successfully solved the puzzle is rewarded.

Knowledge of these terms gives a more or less detailed idea of what a Cryptocurrency is and how it works.

In the coming articles, we’ll learn more about Cryptocurrency like units of Cryptocurrency, buying and selling of Cryptocurrency and much more.

Thursday, November 9, 2017

How to link EPF Account with Aadhaar Card Number Online

This article explains how to link EPF Account With Aadhaar Card Number Online.

How to link EPF Account with Aadhaar Card Number Online

The whole process to link EPF account with Aadhaar card takes less than 3 minutes. It can be done online easily.

Just follow the steps mentioned below:

Step 1 to link EPF Account With Aadhaar Card Number Online

Visit the official website of Employees Provident Fund Organization at http://www.epfindia.gov.in/site_en/ and choose the link eKYC Portal under Online Services.

link EPF Account With Aadhaar Card Number Online

 

Step 2 to link EPF Account With Aadhaar Card Number Online 

Now, click on “LINK UAN AADHAAR” link as shown in the image.

link EPF Account With Aadhaar Card Number Online

Step 3 to link EPF Account With Aadhaar Card Number Online 

Now, this is the main step. In this screen, EPFO subscriber has to enter their UAN.

link EPF Account With Aadhaar Card Number Online

An OTP will be sent to the mobile phone number linked to EPF account.

Verify that OTP by entering that on the screen.

After verification of OTP, you need to enter your Aadhaar card number.

Another OTP will be sent to the mobile phone number linked with aadhaar card.

Verify that OTP by entering that on the screen.

After verification, aadhaar card number will be linked with EPF account.

Other useful articles related with EPF

Monday, November 6, 2017

Comparison of Bank Fixed Deposit Rates » Nov 2017

Different bank offers different fixed deposit rates. One needs to compare rates on the same time duration before saving ones hard earned money. FD rates ate generally available on bank’s official website and it gets updated as and when bank fixed deposit rates changed.

fixed deposit rates

fixed deposit rates

Comparison of Bank Fixed Deposit Rates » Nov 2017

In this article, we are giving a comparison of bank fixed deposit rates for Nov 2017 for some of the leading banks of India.

State Bank of India (SBI) Fixed Deposit Rates:

SBI, India’s largest bank, has cut its bank FD rates by 25 basis points across most maturities, with effect from November 1, 2017. A one-year SBI fixed deposit will fetch an interest rate of 6.25 per cent, from 6.50 per cent earlier, according to the bank’s website. Senior citizens will get 6.75 per cent, as compared to 7 per cent earlier. The revised interest rates are as under:
 

TenorsRevised For Public w.e.f. 01.11.2017 (%)Revised for Senior Citizens w.e.f. 01.11.2017 (%)
7 days to 45 days5.255.75
46 days to 179 days6.256.75
180 days to 210 days6.256.75
211 days to less than 1 year6.256.75
1 year6.256.75
Above 1 year to 455 days6.256.75
456 days to less than 2 years6.256.75
2 years to less than 3 years66.5
3 years to less than 5 years66.5
5 years and up to 10 years66.5

 

ICICI Bank Fixed Deposit Rates:

Interest rates on Domestic, NRO & NRE deposits(Less than Rs.1 crore)

   

Tenure Period
Rate of Interest (% p.a.) w.e.f July 19, 2017
GeneralSenior Citizen*
7 days to 14 days44.5
15 days to 29 days4.254.75
30 days to 45 days5.56
46 days to 60 days5.756.25
61 days to 90 days66.5
91 days to 120 days66.5
121 days to 184 days66.5
185 days to 289 days6.256.75
290 days to less than 1 year6.57
1 year to 389 days6.757.25
390 days to 2 years6.757.25
2 years 1 day upto 5 years6.57
5 years 1 day upto 10 years6.57
5 Years Tax saver FD(Max upto Rs. 1.50 lac)6.57

 

 

HDFC Bank Fixed Deposit Rates:

Domestic / NRO / NRE Term Deposits

 

Period                               < 1 Crore                     >=1 Crore to < 5 Crores
 Interest Rate **Senior Citizen Rates Interest Rate **Senior Citizen Rates 
 (per annum)(per annum)(per annum)(per annum)
7 – 14 days3.50%4.00%4.25%4.75%
15 – 29 days4.25%4.75%4.25%4.75%
30 – 45 days5.50%6.00%4.25%4.75%
46 – 60 days5.75%6.25%6.00%6.50%
61 – 90 days5.75%6.25%6.05%6.55%
91 days – 6 months5.75%6.25%6.25%6.75%
6 mnths 1 day- 6 mnths 3 days6.00%6.50%5.25%5.75%
6 mnths 4 days6.00%6.50%6.30%6.80%
6 mnths 5 days- 9 mnths6.00%6.50%5.25%5.75%
9 mnths 1 day- 9 mnths 3 days6.00%6.50%5.25%5.75%
9 mnths 4 days6.00%6.50%6.30%6.80%
9 months 5 days – 9 months 15 days6.00%6.50%5.25%5.75%
9 months 16 days6.25%6.75%5.25%5.75%
9 months 17 days < 1 Year6.25%6.75%5.25%5.75%
1 Year6.75%7.25%6.50%7.00%
1 year 1 day – 1 year 3 days6.75%7.25%4.90%5.40%
1 year 4 days6.25%6.75%6.50%7.00%
1 year 5 days – 1 Year 15 Days6.25%6.75%5.00%5.50%
1 Year 16 days6.25%6.75%5.00%5.50%
1 year 17 days – 2 Years6.25%6.75%5.00%5.50%
2 years 1day – 2 Years 15 days6.00%6.50%4.85%5.35%
2 Years 16 days6.00%6.50%4.85%5.35%
2 years 17 days – 3 Years6.00%6.50%4.85%5.35%
3 years 1day – 5 years6.00%6.50%4.85%5.35%
5 Years 1 Day – 8 Years6.00%6.50%4.85%5.35%
8 Years 1 Day – 10 Years6.00%6.50%4.85%5.35%

Axis Bank Fixed Deposit Rates

 

PeriodInterest rates (% P.A.) 
 Interest rate on deposits below Rs.1 croreInterest rates on deposits of Rs. 1 Crore < Rs.5 Crore
7 days to 14 days3.55.5
15 days to 29 days3.55.5
30 days to 45 days5.55.5
46 days to 60 days66
61 days < 3 months66
3 months < 4 months6.26
4 months < 5 months6.256
5 months < 6 months6.256
6 months < 7 months6.256.25
7 months < 8 months6.256.25
8 months < 9 months6.256.25
9 months < 10 months6.56.25
10 months < 11 months6.56.25
11 months < 1 year6.56.25
1 year < 13 months6.756.5
13 months < 14 months6.756.5
14 months < 15 months6.756.5
15 months < 16 months6.756.5
16 months < 17 months6.756.5
17 months < 18 months6.856.6
18 Months < 2 years6.256
2 years < 30 months6.256
30 months < 3 years6.256
3 years < 5 years6.256
5 years to 10 years6.256

Following are Axis Bank’s Fixed deposit rates for senior citizens

 

Interest rates (% P.A.)  
 Interest rate on deposits below Rs. 1 CroreInterest rates on deposits of Rs. 1 Crore < Rs.5 Crore
7 days to 14 days3.55.5
15 days to 29 days3.55.5
30 days to 45 days5.55.5
46 days to 60 days66
61 days < 3 months66
3 months < 4 months6.26
4 months < 5 months6.256
5 months < 6 months6.256
6 months < 7 months6.56.5
7 months < 8 months6.56.5
8 months < 9 months6.56.5
9 months < 10 months6.756.5
10 months < 11 months6.756.5
11 months < 1 year6.756.5
1 year < 13 months7.257
13 months < 14 months7.257
14 months < 15 months7.257
15 months < 16 months7.257
16 months < 17 months7.257
17 months < 18 months7.357.1
18 Months < 2 years6.756.5
2 years < 30 months6.756.5
30 months < 3 years6.756.5
3 years < 5 years6.756.5
5 years to 10 years6.756.5

 

Sunday, October 8, 2017

Aadhaar Card mandatory for PPF, NSC, KVP

The government has made aadhaar card mandatory for PPF, NSC, KVP with immediate effect. The ministry of finance has already issued separate Gazette notifications making Aadhaar mandatory for opening all post office deposit accounts, Public Provident Fund (PPF), National Savings Certificate scheme and Kisan Vikas Patra deposits.

Existing depositors who have not provided Aadhaar number at the time of application for such deposit shall submit their Aadhaar number to the post office savings bank or deposit office concerned, on or before December 31, 2017. The government has insisted on quoting Aadhaar for bank deposits, obtaining mobile phone and several other utilities to weed out benami deals and blackmoney.

“Provided further that every depositor under this scheme who has not given his Aadhaar number at the time of application for such deposit shall submit his Aadhaar number to the Post Office Savings Bank or Accounts Office concerned, on or before the 31st day of December, 2017,” the notifications said.

“Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrolment for Aadhaar,” the notifications added.

The government has insisted on quoting of Aadhaar for obtaining or maintaining bank accounts, mobile phones (SIMs) and several other utilities to weed out benami deals and black money.

The government had made it mandatory to link Aadhaar to PAN by December 31 and to SIM connections by February 2018.

About 135 schemes, including the free cooking gas (LPG) to poor women, kerosene and fertilizer subsidy, targeted public distribution system (PDS) and MGNREGA are also reportedly to be linked to the biometric identification.