In fact, recently it is a hot topic on Investta - Entrepreneur & Investors Forum. so I decided to write a separate post on this topic.

In Simple layman's language, there are basically two types of taxes - Direct and Indirect

Direct tax is one which is taken by taking into consideration the individual characteristics of the tax payer such as Income tax.

While Indirect tax means the tax which is levied by taking into consideration the number of transactions such as Sales Tax.

Recently the IT department of India has put the new proposal for Direct Tax in front of Government of India and this is known as Direct Tax code (DTC).

The aim of DTC is to make the current tax structure in India easy. Well, yes. This is the basic aim of DTC.

The last Tax code in India was designed in 1961 and that's why we call it Income Tax Act 1961. But after half a century everything is changed and we can not simply rely on the age old tax system.

India needs a new taxation system. So if this proposal gets approved, our new tax code will be Income Tax Act 2010 or 2011 something......Understand?

Even though, the basic aim behind DTC is simple and helpful to the people, it is very much creticized because many provisions under this proposal may harm the investors and FIIs. Say for Example, there is a proposal of taking long term capital gains tax on listed Equity Investments. Now, till date the long term capital gains tax on equity was 0%. Means if you invest in equity for more than 1 year of time horizon than all your capital gains is tax free.

But according to this proposal, there will be long term capital gains tax on equity investments. this may harm the investors.

Experts say that DTC will be implemented since April 2011.

Rs.0 to 1.6 lakh - 0%

Rs.1.6 lakh to 10 lakhs - 10%

Rs.10 lakhs to 25 lakhs - 20%

Rs.25 lakhs and above - 30%

Up to now, the perks given by companies to their employees were not taxed but according to this draft, now it will be considered as your salary and will be taxed.

So this may increase the taxable income of many people.

Right now it is reverse. But according to the new proposal, the government is planning to take long and short term capital gains tax on Equity investments. However, this will harm the long term growth of India.

but well, right now this is just a proposal. the DTC is not accepted yet. So just wait and watch what happens?

Now, this is a great thing for investors. Right now according to Section 80c of Income Tax Act, you can deduct maximum Rs.1 lakh of Tax. but according to this proposal, it will be Rs.3 lakhs.

Isn't it great news? you can now save a tax up to Rs. 3 Lakhs.

This move will affect popular investments like PPF, EPF and GPF.

If the proposal is accepted, it will bring NPS (New Pension Scheme) on par with other long term investments meant for retirement.

Up to now, you don't have to pay any wealth tax up to Rs.30 lakhs of wealth. But according to this draft, this limit will be increased to Rs.50 lakhs. Isn't it great?

In conclusion, the DTC is proposed to make all the tax laws simple.It has also increased the limits of income tax and wealth tax by several folds. There are some disadvantages also but over all right now it looks that it has many advantages.

So let's hope that everything goes smoothly.

Since past several months many people have ask me that how they can make money online in India with Google AdSense? MJ2BC is a Personal finance Blog India and many people requested me to cover this issue on this blog.

Well, Yes & No both.

Yes in the sense that many scammers use the name of brand Google to cheat people. They publish advertisements in news papers that you can make Rs.10,000 a day online from your home if you buy some course from them.

Once you buy that course, what you have to do is, you have to launch your own website and enter into a network of people like you and visit other people's websites and intensionally click those adds and the other people in the network will intentionally click on your adds.

This is totally an illegal practice and the modern algorithm of Google is so much sophisticated that it easily detects all the clicks from the same IP address and kicks you out of their system forever.

AdSense and AdWords both make US$ 20 Billion every year from their these 2 amazing softwares and what do you think that they will allow you to fool their system?

No in the Sense that if you genuinely use AdSense, it can make you rich in very short period of time.

Well, AdSense serves the targeted adds on your websites and blogs. say for example, if your blog is of personal finance than it will target the adds of pension plans, credit cards, mutual funds or any other financial product or a service.

You can see the advertisements surrounding this article. what are these adds? Well, these adds are supplied by AdSense and whenever a reader (You) clicks on these adds, I am getting paid few cents to few dollars per click.

Now, don't think that this is the small money making opportunity. If you are the owner of a unique and interesting content in sufficient amount, Google will send lots of web traffic every month and you can earn lots of money from it every month.

Many Bloggers and Internet entrepreneurs from all around the world make literally 6 figure income in dollars every year from AdSense.

See Highest Google AdSense earners in India

The Unique content.

This is all that you need to make money online from Google. If you can create a unique content in volume in any niche or subject on your blog, website or a forum, you can make tons of money online with adSense.

You can also see - MJ2BC: Google AdSense Earnings

I receive phone calls from all around India everyday about people asking how they can open AdSense account? In fact, many people also ask me that kindly open AdSense account for them.

Well, I am not in any way associated with Google except I have my own adSense account. You will have to apply yourself only to get approved for this account.

Visit the above link and fill the application form and submit it. Google will review your application in around 15 days and get back to you with the answer. If you are approved than they will send you the account details on your e-mail.

Previously it was really easy to get approved for the AdSense but now the rules are getting tighter and tighter.

All you need to get approved for AdSense account is a website/blog/forum having minimum 200 posts and at least 6 months old domain name. Remember that your website should be hosted on the private domain name. Buy it from GoDaddy.com

Also keep in mind that, the content of your website should be unique. It should not be copy and pasted from anywhere on the web. Google hates copy and pasted content.

Your website should have good web traffic. Well, this is not the guideline from google but this is my personal experience.

Also read Google AdSense Program Policies to learn more about this program. In short, you need to understand everything about this program in detail and than start your own website or a blog.

Beware of people who offer you to get you approved for this program. Because they are frauds. You can get approved for AdSense by yourself only. No need the help of anyone. You can also discuss about AdSense on Investta - Entrepreneurs and Investors forum.

There is a special forum section "Make Money Online & Internet businesses" where you can ask anything related to Google AdSense and I will be more than happy to answer all of your queries.

Well, he wanted to invest in this pension plan and I break down and review the entire policy and finally we cam to conclusion that you should not go for this plan.

ICICI has planned to launch new complex financial product every 45 days in year 2010 and this is one of this product. do you know that 100% of your first premium in this pension plan will go towards paying premium allocation charges and insurance agent commissions?

and 0% from your first premium will go towards long term investments to buy NAV.

Read the Discussion thread to learn more.

If you have any query about any financial product in India or elsewhere in the world than ask on Investta.com. We will be happy to answer all of your queries in a great detail.

Before buying any financial product, discuss it on Investta and increase your Financial IQ.

Anyways...waiting for you on Investta.com

As all of you know that since past one month, the posting frequency on MJ2BC has been reduced suddenly. Well, this is because I am working on another project related to the same blog - Investta.com - Investors & Entrepreneurs Forum.

It is not that my Passion of about Personal Finance has been reduced. You can join Investta.com and discuss anything about Money, Investing, Entrepreneurship and Business Ideas over there. In fact, many readers of MJ2BC have started discussing on Investta. Since past several months, I was receiving queries from literally hundreds of visitors every month via e-mail. And day by day it was becoming more and more difficult to answer and include all these queries on MJ2BC and that's why I was working on building a Forum where you can discuss everything about Money with me and other like minded people from all around the world.

If you are a Website or a Blog owner than let me tell you how you can drive a massive web traffic on your websites and blogs by actively participating on Investta. In fact, one of the Forum Moderator Vikki Roy has noticed 3000 unique visitors in past 10 days only on his blog referred by Investta when he saw his Google Analytics stats. And the bounce rate was only 40% which is really good.

His method was simple. He has modified his signature from his profile and put a link of his blog on his Signature. So whenever he posts something on Investta, his blog URL displays at the end of every post. And this link drives tremendous amount of quality web traffic towards his blog.

Forum Discussions is a great way to drive a quality web traffic towards your website. So try this. Join Investta and start actively participating in various forum discussions. Also start new forum discussion threads. And drive a massive web traffic towards your websites and blogs for long term automatically...

By the way, There is still lot more to write on MJ2BC but as right now I am busy behind marketing of Investta, the writing frequency on MJ2BC will be less for couple of months. However, you can discuss your any query about Money, Personal Finance, Investments and Entrepreneurship on Investta and I will get back with the answer in less than 24 hours. So you will get back the answers of your queries faster than ever on Investta.

How Are You? Hope You are Fine.

As You must have noticed that I have not been much active in "My Journey To Billionaire Club" since past 1 month. And I received several e-mail from regular readers that, Is everything fine? Some readers also asked that, What happened Doctor? Have you lost your Passion towards blogging and Personal Finance?

Well, it's not so. I have not lost my Passion towards Blogging or Personal Finance. In fact, day by day my Passion towards both of these things is increasing. Basically, I have been working on a project since past almost a year but the project was in a final Execution Stage so I did not get anytime to write for MJ2BC.

Basically the aim of project was to add more values in the life of readers of MJ2BC. Well, without making the things more complicated, let me straight forward explain you.

Well, I am today announcing a new Forum Launch for the readers of MJ2BC and people around the world.

Yes, Finally Investta is Live. Just visit and check it.

Since past several months, I was bombarded with hundreds of queries from people in my mailbox from worldwide (Mainly from India). And it was becoming more and more difficult to answer all of those queries in a short period of time.

Many readers were complaining that, I was not answering their queries since last 3 months. Well, my intention was never to ignore anyone. But I don't have time to answer literally hundreds of queries every month.

And I don't want the readers of MJ2BC get disappointed. And this is the reason, I was planning to launch a discussion forum where you can directly post your queries and suggestions and communicate with me and the other people like you directly and get the answers of your queries in a short period of time.

And that's why I have launched Investta.com Today. Investta is live now. You can join it and ask me any query about Personal Finance, Business, Investments, Make Money Online and Entrepreneurship. I will be more than happy to answer all of your queries on Investta.

One more reason to launch a Discussion Forum like Investta was, many entrepreneurs have requested me to create something online where people and entrepreneurs can discuss the great innovative business ideas. So What else can be best than launching a Discussion Forum?

You can post and share your various business ideas on Investta and get back the reviews from people around the world.

Since March 2008, when I launched MJ2BC, I received several queries from readers like,

- I want to sell my residential property - Can I list it on MJ2BC?

- I want to sell my Website - Can you help me?

- I want to sell my Domain name - Can you list it for sale on MJ2BC?

- I want to sell my stamps and coin collection - How can you help me via MJ2BC?

- And many more.....

And that's why there was a need for online marketplace where people can list their assets (Online and offline) for sale for 100% FREE. And Investta is such marketplace where you can list your any asset for sale for 100% free. Weather it's a real estate or a Domain name or a Vintage Car, you can list it on Investta for sale for 100% FREE.

All the other online marketplaces for buying and selling real estate and any other asset will charge you literally thousands of bugs to list your asset there plus they will also ask you for as high as 10% success fee from your transaction which is too high.

But Investta is 100% Free marketplace where you can list your Assets for sale for FREE. I hope that this will reduce the entry barrier in people and people will easily list their assets for sale on Investta Marketplace and find a potential buyer from all around the world for their assets.

Another Salient feature of Investta is a Job Board. Weather you are a fortune 500 Company or a small start-up, you can post your job for 100% FREE on Investta Job Board. Many online job boards will charge you as high as $ 300 for just 30 days of listing. But Investta is totally free. So try it.

You can also post your project on Investta job board and get in touch with the freelancers from all around the world.

And if you are a person who want to find a job online than Investta is a great marketplace to find a good job or a freelancing work for you.

So Now onwards, you don't need to send me any e-mails to ask for anything. Simply join Investta and ask me any kind of question in appropriate forum. I will be get back with your answer usually in few hours.

In this way, you won't have to wait for my answer. You can ask me any kind of question related to money and Finance.

Investta will be a great place to get in touch with investors and entrepreneurs from all around the world. So I am sure that you will find some great people on Investta forums for your start-up business or for the investment of your capital.

So What Are you waiting for?

I am waiting for you for further discussions on there.

And keep in touch with MJ2BC.