Wednesday, April 21, 2010

Gautam Buddha & Brahmin....

Gautum Buddha was sitting under a banyan tree. One day, a furious Brahmin came to him and started abusing him. The Brahmin thought that Gautum Buddha would reciprocate in the same manner, but to his utter surprise, there was not the slightest change in the expression on his face.

Now, the Brahmin became more furious. He hurled more and more abuses at Buddha. However, Gautum Buddha was completely unmoved. Actually there was a look of compassion on his face. Ultimately the Brahmin was tired of abusing him. He asked, "I have been abusing you like anything, but why are you not angry at all ?"

Gautum Buddha calmly replied, "My dear brother, I have not accepted a single abuse from you."

"But you heard all of them, didn't you?" The Brahmin argued half-heartedly.

Buddha said, "I do not need the abuses, so why should I even hear them?"

Now the Brahmin was even more puzzled. He could not understand the calm reply from Gautum Buddha.

Looking at his disturbed face, Buddha further explained, "All those abuses remain with you."

"It cannot be possible. I have hurled all of them at you," the Brahmin persisted.

Buddha calmly repeated his reply, "But I have not accepted even a single abuse from you ! Dear brother, suppose you give some coins to somebody, and if he does not accept them, with whom will those coins remain?"

The Brahmin replied, "If I have given the coins and not needed by someone, then naturally they would remain with me."

With a meaningful smile on his face, Buddha said, "Now you are right. The same has happened with your abuses. You came here and hurled abuses at me, but I have not accepted a single abuse from you. Hence, all those abuses remain with you only. So there is no reason to be angry with you."

The Brahmin remained speechless. He was ashamed of his behavior and begged for Buddha's forgiveness.

Lesson to Learn from This Story:

Inner calmness and peace are keys to contented life. My Advice is Live life as per your goals and ambition in life. You know who you are and what you want in life, So dont respond to what person said about you in anger. Control your anger with patience and calmness. That is biggest Strength of Wise men.

Tuesday, April 20, 2010

Beginning today...

Beginning today...

I will no longer worry about yesterday.
It is in the past and the past will never change.
Only I can change by choosing to do so.

Beginning today...
I will no longer worry about tomorrow.
Tomorrow will always be there,
waiting for me to make the most of it.
But I cannot make the most of tomorrow
without first making the most of today.

Beginnig today...
I will look in the mirror
and I will see a person worthy of my respect and admiration.
this capable person looking back at me is someone
I enjoy spending time with and someone
I would like to get to know better.

Beginning today...
I will cherish each momemnt of my life.
I value this gift betowed upon me in this world
and I will unselfishly share this gift with others.
I will use this gift to enhance the lives of others.

Beginning today...
I will take a momemnt to step off the beaten path
and to revel in the mysteries I encounter.
I will face challenges with courage and determination.
I will overcome what barriers there may be
which hinder my quest for growth and self-improvement.

Beginning today...
I will take life one day at a time, one step at a time.
Discouragement will not be allowed to taint my positive self-image,
my desire to succeed or my capacity to love.

Beginning today...
I walk with renewed faith in human kindness.
Regardless of what has gone before,
I believe there is hope for a brighter and better future.

Beginning today...
I will open my mind and my hearth.
I will welcome new experiences. I will meet new people.
I will not expect perfection from myself nor anyone else:
perfection does not exist in an imperfect world.
But I will applaud the attempt to overcome human foibles.

Beginning today...
I am responsible for my own happiness
and I will do things that make me happy...
admire the beautiful wonders of nature,
listen to my favourtie music,
pet a kitten or a puppy, soak in a bubble bath...
Pleasure can be found in the most simple of gestures.

Beginning today...
I will learn something new;
I will try something different;
I will savor all the various flavors life has to offer.
I will change what I can and the rest I will let go.
I will strive to become the best me I can possible be.

Begnning today.... And Every Day

Tuesday, April 13, 2010


An HUF is having all the properties in India. The Karta of the HUF is residing outside India permanently and the female members are staying in India and are managing the affairs of the HUF. What would be the status of such HUF?

As discussed in the earlier answer, the test is not where the Karta resides, the test is where the control and management of the affairs of HUF is situated. Even if a part of control and management is situated in India, such HUF will be treated as resident in India. Though, generally, Karta is supposed to manage the affairs of HUF, it is not an absolute rule and, by consent, the power of control and management may be delegated to other members of the family, either fully or partially. As such, in this case, the status of HUF would be resident in India.


Is a HUF necessarily resident in India?

No. Section 6 of the Income-tax Act, 1961 clearly contemplates a situation where a HUF can be non-resident also. In fact, HUF can also be Not Ordinarily Resident. A HUF will be considered to be resident in India unless, during the previous year, the control and management of its affairs is situated wholly outside India. In such a case, it will be treated as non-resident HUF. Moreover, in case of a HUF whose manager has not been resident in India in nine out of ten previous years preceding the previous year or has, during the seven previous years preceding that year, been in India for a total 729 days or less, such HUF is to be regarded as Not Ordinarily Resident within the meaning of the Income-tax Act, 1961. As such, it is not necessary for a HUF to be resident in India.


How a HUF can be created ? Who can be members of a HUF?

HUF is a creature of law. It cannot be “created” by act of parties, except in rare cases of adoption and reunion. Birth of a son in a Hindu joint family automatically makes him a member of the HUF. In view of this, all male members automatically become members of the HUF. In addition to that, if a child is adopted, then he also becomes a member of the HUF. Similarly, in case of reunion of erstwhile HUF family members, such reunited members become members of the reunited HUF. Moreover, upon marriage, wife becomes a member of her husband’s joint family.


What are the advantages of HUF under Tax Laws?

The Income-tax Act, 1961 as well as Wealth-tax Act, 1957 recognise HUF as an independent assessable or taxable entity. This is done by specifically including “Hindu Undivided Family” in the definition of “person”, in section 2(31) of the Income-tax Act. As such, the income earned by such HUF will enjoy all exemptions and deductions; including the basic exemption from income-tax, so far as applicable.


What is the difference between a co-parcener and a member?

A HUF, as such, can consist of a very large number of members including female members as well as distant blood relatives in the male line. However, out of this, coparceners are only those males who are within 4 degrees in lineal descendent from the common male ancestor. The relevance of concept of coparcenary is that only coparceners can ask for partition. The other male family members; i.e, other than coparceners in a HUF, have no direct claim over HUF property, but can claim only through the coparceners.


What is a Hindu Coparcenary? In what ways is it different from a HUF?

A Hindu Coparcenary is a much narrower body within Hindu Undivided Family. Generally speaking, it is a body of individuals who acquires interest by birth in the joint family property. They are the son, grandson and great grandson of the holder of the joint property for the time being. The coparcenary, therefore, consists of a common male ancestor and his lineal descendants in the male line within 4 degrees, running from and including such ancestor. No coparcenary can commence without a common male ancestor though, after his death, it may consist of collaterals such as brothers, uncles, nephews etc. The essence of coparcenary is community of interest and unity of possession.


What is the meaning of Hindu Undivided Family?

Hindu Undivided Family (“HUF”) which is same as joint Hindu family is a body consisting of persons lineally descendant from a common ancestor, including their wives and unmarried daughters, who are staying together jointly; joint in food, estate and worship. The daughter, on her marriage, ceases to be a member of her father’s HUF and becomes a member of her husband’s HUF.