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Nepal Income Tax Rates for Individuals

Nepal individual income tax rates are progressive to 25%. Tax exemption limit is Rs.160,000 for individuals and Rs.200,000 for couples:

Tax rates for resident individuals
Income (Rs.)                 Tax Rate
0 – 160,000                         1%
160,001 – 260,000          15% (+ Rs. 1,600)
Above Rs. 260,000          25% (+ Rs. 16,600)

Tax rates for Married (including widow & widower)
Income (Rs.)                 Tax Rate
0 – 200,000                    1%
200,001 – 300,000          15% (+ Rs. 2,000)
Above Rs. 300,000          25% (+ Rs. 17,000)

Tax rates for Proprietorship Firm – single
Income (Rs.)                 Tax Rate

0 – 160,000                         0%
160,001 – 260,000          15%
Above Rs. 260,000          25% (20% for Export Income and Income from Special Industry) + Rs. 15,000

Tax rates for Proprietorship Firm – married
Income (Rs.)                 Tax Rate

0 – 200,000                          0%
200,001 – 300,000          15%
Above Rs. 300,000          25% (20% for Export Income and Income from Special Industry) + Rs. 15,000

Having only Business Income with Annual Turnover up to Rs 20 Lacs and Annual Income up to Rs. 2 Lacs
- In the Metropolitan or Sub Metropolitan Cities Rs. 5000
- In the Municipalities Rs. 2500
- In the rest of Nepal Rs. 1500

For further details: http://www.taxrates.cc/html/nepal-tax-rates.html

July 19, 2011 · Economics · Comments (3)

+1 for google plus

Today we cannot ignore the fact that social networking is an integral part of life as we almost everyone are using it at least once a day. The benefit of it, are all in front of us. We are using it, sharing our thoughts, posting minute details on it. Even an hourly activity update can be seen in the social networking sites like facebook.  If we concentrate on facebook then facebook has been treated as marriage broker, follow up for criminal acts, it has connected the missing friends, it has produced joy for the parents looking their child’s picture/videos abroad, it has been used as the prime source for the latest notification for the events around you and lots more. The greatest disadvantage that it has for me is on every link/notification it distracts me from the thing I am doing. For example, let’s say I am commenting on a photo of my friend then one notification pops up, I will click on it then I will be on a different page, and on the new page I will be going through all the comments and add one new comment, during this I may forget the thing I left (i.e. I was about to comment on the picture before notification). This is a great distraction and time consuming as well.

Google plus has minimized the level of distraction so well, we can even comment on the notification area, that’s a wonderful feature for me as I often get distracted easily moving on different page. Google+ has a video chat feature, known as hangouts, in which up to ten people can be included in a video call. With a G+ account, you get unlimited photo storage on Picasa, instead of the 1GB storage you get without a G+ account. Unlike Facebook, there are no advertisements displayed over Google’s social network site, making the load time faster and overall keeping Google+ users from getting confused.

All these features and the entry of Google plus in the social networking area, suddenly makes the feature of facebook looks vulnerable. We all have lots and lots of friends added to facebook already, you may want to remove unwanted friends or just remove the one you have not met. Doing the manual task of removing the friends over a long list is really a waste of time. For this google+ might be a social reboot as well.

In conclusion I have a +1 for google plus, though I will be using facebook in parallel for some definite period of time. For now it’s still under invitation based signup, but it is said that within a month it’s going public without invitation. You may try it out on the direct link https://plus.google.com.

July 13, 2011 · Opinion,Social Network · Comments (1)

Method Size Limit in Java

Though i have been handling error/exceptions on JAVA for about 5 years now from the day i started “Hello World!!!”, I never knew that there is a limit in JAVA for size of the method. And I never  got into a situation like “Code too large to compile” which is not a simple message rather its a compilation error in Java when you exceed the size limit of the method. Glad to read the link , it added more on my knowledge in Java.

Java has a 64k limit on the size of methods.

I bet this is the least faced error/exception by any Java programmer. But though we face it or not IMHO this is a good point that Java put limit on the size of the method because if a single method would go beyond 64K limit then there would be minimal difference between a procedural and OO language and hence hard to maintain. Methods need to be very specific and solving only some dedicated tasks and you can imagine when it’s size goes beyond 64K, it goes towards generic concept. It’s my opinion but if you want to add your opinion then you are most welcome.

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