Sunday, June 26, 2011

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  • acecupid
    09-06 08:33 PM
    Read something interesting on TOI..

    NRIs treated as Not Required Indians! - India - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/india/NRIs-treated-as-Not-Required-Indians/articleshow/4979439.cms)

    Indubhai Amin, a non-resident Indian (NRI) settled in the UK earns interest income of Rs 3 lakh on his non-resident ordinary account bank deposit in
    India in the current FY 2009-10. Enjoying his personal exemption limit of Rs 1.60 lakh and the eligible deduction of Rs 1 lakh u/s 80C, Amin is comfortable paying income tax of Rs 4,000 in the first slab of 10 per cent on his effective taxable income of Rs 40,000.

    Flat tax of 20% and 30%

    A huge shock awaits Amin and millions of NRIs, in regard to taxation of their interest and investment income and capital gains earned in India, proposed to be treated under the draft Direct Tax Code as "income from special sources."

    In 2011-12, on the same interest income of Rs 3 lakh, Amin will be required to pay a hefty tax of Rs 60,000 at the flat rate of 20 per cent, without being eligible to claim any basic exemption or other deduction, as provided under rule three of the First Schedule to the Code.

    Moreover, all capital gains earned by a non-resident will attract a flat tax of 30 per cent, irrespective of the amount of capital gains. While a resident Indian will be required to pay tax of Rs 3.84 lakh on his taxable income of Rs 25 lakh, an NRI earning equivalent capital gains will be called upon to pay almost double tax of Rs 7.5 lakh.

    Hair-raising drafting

    New section 13 (2) provides that such �special income� shall be computed in accordance with the provisions of the Ninth Schedule, the drafting of which is literally hair-raising. It provides that the amount of accrual or receipt shall be computed as the taxable income, and no loss, allowance or deduction shall be allowed, as the same shall be presumed to have been granted. The only exception in this regard, in respect of capital gains arising from the transfer of equity shares or units of equity oriented mutual fund chargeable to STT, is quite amusing, as it stands redundant in view of the proposal to abolish STT (a classic instance of incoherent drafting).

    The draftsman does not seem to have realized the harsh implications. It means that if an NRI sells a capital asset purchased for Rs 10 lakh at Rs 30 lakh, he will be required to pay tax of Rs 9 lakh at 30 per cent on the gross sale consideration of Rs 30 lakh without any deduction even for the cost of acquisition of Rs 10 lakh (not to mention any benefit of indexation on the same).

    Determination of residential status

    The residential status of an individual under the Code is proposed to be determined as per the current norms. However, the status of "not ordinarily resident" (NOR) is proposed to be eliminated. Despite the above, Clause 24 of the Sixth Schedule has still provided for exemption in respect of interest earned on foreign currency deposits in the case of NOR. Poor drafting indeed!

    The Code has proposed to retain the current exemptions availed by a non-resident in case of interest earned on NRE and FCNR deposits with banks.

    Special exemption for returning NRIs

    A useful exemption has been provided in case of income earned outside India, if it is not derived from a business controlled from India, in the financial year in which the returning NRI becomes an Indian resident and the immediately succeeding financial year. However, the benefit of the said exemption would be available, only if such individual was a non-resident for nine years immediately preceding the financial year in which he becomes a resident.

    Wealth-tax liability for NRIs

    Proposed Section 102 of the Code provides for wealth tax liability in the case of the value of all global assets of an individual or HUF. However, an exemption has been provided in case of the value of assets located outside India in case of an individual who is not a citizen of India or an individual or HUF not resident in India. Hence, while returning NRIs who are non-citizens will enjoy wealth-tax exemption for their overseas assets, NRIs with Indian citizenship becoming residents will attract wealth-tax liability on such assets held abroad.

    Illogical exemption under wealth-tax

    Talking about wealth tax, the Code prescribes an exemption in respect of any house or plot of land belonging to an individual or HUF, if it is acquired before April 1, 2000. It is difficult to understand the logic as to why this exemption has been denied in all cases where such immovable property is acquired after March 31, 2000!

    Proposals That Will Hurt the Global Indian Sentiment

    Flat Rate of Tax

    20% flat tax on interest & other investment income
    30% flat tax on all capital gains
    Apart from 20% & 30% TDS on above, TDS at a baffling rate of 35% prescribed on all residual income

    No Personal Exemption

    No personal exemption or deduction allowed in computing the above income treated as �income from special sources�.

    Weird Interpretation

    Poor drafting leads to such a weird interpretation that transfer of a capital asset may attract 30% tax on gross sale consideration.

    What Discrimination!

    Ironical but true! Non-Indian sportspersons, say Ricky Ponting or Shoaib Akhtar, required to pay a concessional tax of 10% on their game, advertisement and column earnings in India, thus enjoying a more privileged tax status than our own sons of the soil living abroad.





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  • martinvisalaw
    11-25 01:10 PM
    I can't really answer your question without more details, but here are some factors to consider:

    1. You can adjust status using a section of the Immigration and Nationality Act (INA) called 245k if you did not violate status for more than 180 days between your last lawful entry to the US and filing the 485. If you were in lawful status when the 485 was filed, or hadn't violated it for over 180 days, you may be OK.

    2. You cannot stay in status by "piggybacking" one filing on another pending filing. Therefore, if your H-1B status #1 expired, #2 was pending and meanwhile your employer filed H-1B #3, the #3 does not keep you in status.

    I hope this helps.





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  • needhelp!
    10-09 01:41 PM
    From our meet & greet last saturday:

    GC Quiz:
    Created For: Dallas Greet-Eat meet: 10/06/07 -- Immigration Voice
    -----------------------------------------------------------------------------------------------------------------------------------------


    What are the Pros and Cons of AOS and Consular Processing?
    Explain the terms: Priority Date, I-140, 485, PERM, EB1, EB2, EB3, Country based quotas, Visa revalidation, EAD, Advanced Parole, Biometrics, Finger Printing.
    You have not got your green card yet. What do you think what is preventing the system to give you the green card?
    What is the importance of �Employment Letter� in AOS or consular filing stage?
    What is AC21 law?
    If CIR bill would have been passed and became the law what benefits (being an EB based applicant) you might have gained?
    You are holding Masters Degree and had 8 years of experience before coming to USA and work for your first US based company then also your Green Card application was filed under EB3 category. Why?
    What are RIR and regular processing for old Labor approval system?
    Why Labor and are considered employer�s property and 485 Employee�s property?
    What is the purpose of Labor approval process as a sub stage in Green Card Process?
    Define the term Permanent Resident.
    What would be your obligations as Permanent resident?
    What is Visa Bulletin? And which agencies are involved in creating and publishing visa bulletin?
    Explain different codes for Finger Printing process
    You applied for your EB based 485 along with EAD and AP during July Fiasco. You have just received your EAD approval and Finger printing is also done. Your H1B Visa stamp in passport is expired. Your friend in Canada invites you to visit him for 29 days for a big celebration. Can you visit Canada? If no than explain us why and if yes than explain us which kind of immigration related documents you MUST keep with you while visiting.
    Same question as above but for 31 days or longer visit.
    What is the easiest way as a citizen of India for you to become permanent resident of USA? Choose only one. And explain your answer.
    -Apply under family category
    -Apply under employment based category
    -Apply as Investor/entrepreneur (Start a business)
    -Marry to a US citizen

    �What is the best option: To work on H1B OR to work on EAD? And why?
    �You applied for 485 in February 2007. You have received your approvals for EAD and AP by now but still you have chosen to work with your present employer on H1B Visa. You are getting a very good job offer which you do not want to loose. What strategy you would consider a best strategy so you get this new lucrative job and do not jeopardize your green card process.
    �What historical part Immigration voice has played so far for streamlining EB based immigration?
    �Which factors can jeopardize your Green Card in case of very long processing wait?
    �You are a citizen of India. You came in USA on H1B visa in year 2000. Your employer filed your Green Card under EB3 � NON RIR category. Down the road your company filed the Green Card for your Pakistani colleague in year 2005 and in year 2006 November you came to know that your Pakistani colleague became permanent resident as his GC application approved. Upon hearing this news you get frustrated. What do you think why your Green card is not yet approved? What could be the reasons behind this long delay?
    �What is the Maximum limit of Visa numbers applicable to Indian citizens under all EB categories?
    �What is LIFE act? To which kind of Green Card applicants it can affect?
    �Once you get Green Card. What will you do to retain it forever?
    �What is Re-entry Permit?
    �How long you can remain as permanent resident of USA?





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  • vladdrac
    06-11 09:11 AM
    I like what is going on with what you are doing. The one thing that doesn't look good is that you have shadows going in different directions (i.e. chess pieces, clock, text). The board does not have a shadow at all. I think if you had added a shadow from the board it would look way more realistic.

    other than that, pretty good



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  • TomPlate
    12-12 03:56 PM
    I am there file in July 2007.





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  • Sakthisagar
    06-11 11:35 AM
    Having a "current" priority date, however, does not assure that a case will be adjudicated. The CIS, despite policy pronouncements to the contrary, clearly does not process cases on a "first in, first out" basis. Indeed, there does not appear to be any rational basis for their case selection scheme. The CIS Ombudsman has accused them of "picking the low hanging fruit" - meaning that they take "easy" cases in preference to "harder" cases, no matter when filed.

    Applicants should not reasonably expect the CIS to adjudicate their pending adjustment of status applications shortly after their priority dates become current. Understand that when your priority date becomes current, that is just the start of the fight. You need to initiate vigorous inquiries through the CIS Ombudsman's office, the office of one of your Senators or your Congressman, and your own written inquiries and InfoPass appointment inquiries. Do not sit back and assume that they will do the right thing. Get on them and stay on them until your case is adjudicated.

    Most important of all, do not simply assume that when your priority date becomes current, your case will be approved.



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  • jr8rdt
    01-06 06:55 PM
    I am interested with this topic as well. can somebody confirm that once we use AP to travel we can still work on H1 and don't have to invoke EAD?





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  • h4visa
    07-27 01:26 PM
    what H1 and H4 has to do? Once you start using EAD..your current status has no impact. On EAD, you can do multiple jobs but similiar description.

    -M


    what about H4? I believe no job description is required...rt? I mean once H4 gets EAD. Pls reply



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  • dealsnet
    07-23 12:50 PM
    If you are out of USA for a longer period, your I-485 will be in trouble. If you didn't come before AP expiration, your AOS will be abandoned. You cannot renew AP away from USA.


    You can not get a new AP while you are out of US. You have to be in the US at the time or applying and while it gets processed. Recently I have seen two cases where the AP was issues within 30 days of applying.





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  • hydubadi
    07-23 08:41 PM
    Hello,

    I already opened a thread on this. does any one has answer for this.

    I am in a process of getting name change for my wife on pending I485. This is because her first name is given as 'FNU' by USCIS on the I485 file, EAD and A.P. As she did not have first name in passport.

    We recently got her name change on passport by adding my(husbands name) as SURNAME. Now we want to refelect this change on EAD and 485.

    For this amendment my lawyer is charging $400.
    I want to know, if we can do this amendment on our own and avoid lawyer. Do any one on this forum know how to deal with this situation. Please let me know.

    Your answers are highly appriciated.

    Thanks,
    hydubadi



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  • new2gc
    03-31 11:52 AM
    Yahoooooooooooooo......We (Me and my wife) received welcome notice today . Our 485 is approved on 25 th March.

    no updates online just received postal mail from USCIS today .

    I guess end of long wait , been in country from 2001 .

    I wish you all the best and hang in there if your PD is current you can expect the notice any time so keep checking your postal mail box .

    FYI - I dont know if my back ground check is clear or not , I guess it is .

    Congratulations and take a big vacation and ....enjoy!!!





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  • usdreams
    05-25 12:13 PM
    Hi,

    I am little scared, I have taken an Infopass appointment for this friday at my local office, as my PD is current for EB2 - May, and still didn't get any status update or GCs.

    Is it risky or inviting a risk by taking infopass apt. ?

    Do you think I should have waited ?

    please reply if anyone have any idea.

    Thank you,



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  • Be_Pragmatic
    07-23 05:35 PM
    It varies from state to state based upon which money pool is used to pay the beneficiaries, but it is wise to not to go for it. You will show up as social burden at the time of adjudication and may affect the IOs descision while granting you the AOS approval or not.

    Its my 2 cents. You may wanna talk to your attorney before even thinking about filing for such benefits.

    OK, thanks much for your suggestion. I'll consult my attorney before plunging in.





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  • EB3_SEP04
    08-22 11:24 AM
    I applied on June 12 (paper file) at TSC , Notice date June 18th , RD June 13th and received EAD cards on Aug 18th (CPO mail on Aug 15th).

    Hope this info helps.

    My RD is 7/2/08, still waiting for approval, not even an LUD after notice date. I see EB2 folks getting renewals within 30 days or so. Isn't this descrimination?



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  • uma001
    05-24 09:44 AM
    Here is my case:

    MS (computer engg) in US
    US IT experience more than 6 years
    No TOEFEL ( what native english speaker??)
    Worked in high growth technology/employer (I assume)
    come under STEM.
    My employer is sponsering my green card
    How many points will i get??





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  • morchu
    04-21 08:46 AM
    Depends on many variables.

    1. What is the field of your / your spouse's job? Can you find a good job in Canada?
    2. Is there any other variables that force you to be in USA. (Relatives etc..)?

    For a lot of middle category jobs Canada is even better than USA. Infact Canada is more industrial than USA and has very good quality of life. But if you are going to Canada for a "hi-tech" job, think twice..... (opportunities)..

    "7 years" for US citizenship is tooo optimistic.
    If you are from India, it "may" take 10 years for you to get even a Green Card, filed under EB3. Browse through the forums and you will see than many of the Indians here are waiting for more than 10 years.

    -Morchu

    well, that really sucks, I was not aware of the 180day rule. Many thanks for the information.

    So I have no other option than start all over again. One question, can I apply directly to a new LC or PERM or I need to go thru H1B first?

    My Plan B is Canada, already have Canadian Permanent Resident Card, I need to enter before May 2010....I might need to decide between just moving to Canada and in 3 years get citizenship Vs. Starting new PERM process in USA .....I will be aprox 7 years away from citizenship.


    Any thoughts??



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  • Texascitypaul
    02-23 08:33 AM
    I am a UK citizen i came to the US in 2008 (aug) when i married my USC wife,i then returned to the UK until Dec 2008 and have been in the US since under VWP,my i94 ran out in march 2009.

    I am aware of the "right" way things should have been done, but here i am illegal still with my wife and children (she has 4) i need to try and salvage something out of this meaning i just want to live normal with my family work just like a regular guy get a driving license etc.

    Now i have a clean background check from the UK..1 down many to go isuspect...my wife having 4 children would never have been able to prove affit david of support least not on paper (she is a student and graduates as a RN in may of this year) at which point she would be able to earn enough to do this.

    Through all this we have managed to survive as a family its hard with only one working but we get help from her parents and family.

    $64,000000 question what should i do?

    Thankyou for reading

    Paul





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  • amohale
    03-12 07:52 PM
    Anyone, please respond to my questions below.......... it will be a great help......





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  • VisaVisa
    09-08 11:08 PM
    Me and my wife are on pending I-485 AOS. Mine is employment based (EB3) and my wife's is derivative.

    I-140 is approved.

    I work here on EAD. My wife had to travel to India urgently. She applied for Advance Parole, but had to leave before she received the Advance Parole.

    Now she wants to return back, but as she has not yet received Advance Parole, will she need to apply for Visa?
    Or is it better to wait for Advance pArole decision?
    If Visa, under what category?

    Thanks





    kkmajid
    10-16 01:43 PM
    Hi

    I am currently a masters student in an american university. My
    graduation is in May 2007. I am planning to apply for H1B visa soon
    after.

    1. Assuming that my H1B status is approved and I recieve my H1B papers
    by October, how long should I wait until my employer can file for my
    greencard application?

    2. It is been announced that the premium processing for the labor
    certification is available. This means that there is 2 week decesion
    instead of months like before. Therefore how much would be the time
    from after the application will I be able to change my status from H1B
    to permanent resident and recieve my greencard? Does the premium
    processing shorten the time?

    Kambi





    GoneSouth
    03-14 05:48 PM
    You can only file a second LC for the same employee at the same company, if the new position is "substantially different" from the old position. [ I am happy to report, that I just received my PERM approval for doing exactly this :) ]

    If your LC was filed via PERM and approved, you do not need to refile just because you lost the receipt. If you're filing an H1-B renewal, a screen shot / printout of the PERM app, showing the case #, is sufficient. If you're filing an I-140, there's a check box on the I-140 to indicate that USCIS should request a PERM approval receipt directly from DoL.

    - gs



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