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Which ITR form should I fill out for 2 homes? One is rented out and one is self-occupied.The new form ITR-2 would be used in the case of 2 house property. One is self occupied and another one is rented.To increase the ease of doing business Income Tax Department have simplified Tax Forms and there is a new concept of single page ITR forms.For further details and to get your returns filed by professionals email at email@example.com
How does one show the income from a house property while filling ITR if a government employee has been provided a house? Is it shown in self occupied or is it let out?You are not required to show income from house property which is provided by employer . The perquists has already added your salary income. You may check this in your form 16 (12AB). Further, for income from property you should be the owner of the property.
What did China get right in its economic and social development which the US got wrong?Comparing total GDP figures hides a lot of factors.Both countries are very different and so are their economies and societies. The economic and social decisions of one country doesn’t directly apply to the other.All the answers here give chinese perspective but I feel it is one sided so I should provide the US perspective.China has a population of 1.4 Billion vs US which has a population of only 323 Million. That is almost 5 times compared to US.Now let's try to understand this by an example. Let's say there are 2 teams Team A and Team B. Team A has 10 members while team B has 50 members. Team B will outperform team A in terms of productivity.Let us assume all the members are equally productive and produce the same output in value.If both the teams are given a task, let's say fishing, then the output from team B will be much higher than team A. Even if team A has a head start, team B will eventually catchup and overtake team A at some point of time. Let's say both the teams are given task to catch fish. Let us say that every member in Team US is a highly skilled fisherman and catches 10 fishes each day while each member of team China is only able to catch 5 fishes each day. The total output of both teams will still be the same even if each member of team China only catches half the no. of fish.Although total GDP of China will surpass US, per capita GDP of China is way below. Currently US ranks 13 in terms of per capita GDP with $ 59,609(this is the output produced by each american) while china ranks 74th with per capita GDP of ~ $ 9,000.(source :http://statisticstimes.com/econo...)Now coming back to both countries. China was destined to outgrow US as the largest economy. There is no surprise there and it is not that US could have done anything(other than adding more population, oh wait..no more immigrants!). Having a government which is focussed on growth and its pro-development policies only accelerated the growth and made China to catch up sooner rather than later.US didn't had to do anything wrong for China to surpass but that said, there are few things that hampered the growth of US:1) Wars - Since the turn of this century, US has been fighting multiple wars at the same time which made a big hole in its pocket. It is estimated that US has spent $4.79 Trillion on the wars since 2001. Let that figure sink in. It is almost half of China's gdp.2) economic slowdowns - US has faced 2 economic crashes, during 2000 and 2008. The 2008 was the worst to be seen till now. The federal reserve bailout for 2008 recession was $29 Trillion.Apart from this, US also provides financial aid to other countries for numerous reasons like humanitarian aid, emergency relief etc. which it does completely on humanitarian reasons and doesn't get returns on it while the chinese investments in other countries are investments either done to boost its own trade. For example, the chinese investments in africa are to cultivate a market for chinese exports. The One belt One road investments in pakistan are being done to ensure free movement of its goods to Gwadar port. This will reduce their export costs and boost economy in their western provinces. The investments done in Pakistan are in fact a loan which they will have to repay. US as a giant economy it is, rightfully takes responsibilities for lot of things globally like protecting rights of citizens of some country which is going through turmoil. US is fighting wars in Iraq and Afghanistan and spending billions to protect the citizens of those countries from tyranny and have an elected government. It also provides asylum and refuge to lot of distressed citizens from those countries. This is a huge responsibility as a big nation.It also contributes a huge chunk to the UN budget. Notice that US alone contributes almost 1/4th of UN budget.(image source : https://factly.in/united-nations...)But are you saying, US shouldn’t do any of those efforts and instead compete on retaining the crown of largest GDP? I strongly believe US is doing what is morally right and is completely justified.As Leo Wong & others have pointed out in their answers that US did not focus on building infrastructure. That’s not true!. US already has a great country wide infrastructure. Sure, it is aging but it has country wide network of freeways, powergrid and is also investing heavily in development of all key scientific area including AI. It does not have a high speed rail which kind of sucks but having a country wide high speed rail network like China is not feasible in US.China has a high population density and is feasible to build and operate a high speed rail network. US for most parts is either populated on east and west coast while the central america is huge and very sparse in terms of population.The population density is too low to break even the huge infrastructure costs required to build such a network. It has a great network of freeways and almost everyone can afford a car and also people fly all the time! There is a project for high speed rail between San Francisco to LA but the ticket price is too high and ridership is so low that there are concerns about revenue even before construction.See the population density of USVs ChinaBased on population density, you can almost guess how the high-speed rail network of China would beYou can see that the provinces near mongol border & near tibet, nepal, India border doesn’t have high speed rail for the similar reason that there are not enough people there to build a rail network.Now, let’s understand what factors helped China to continue economic and social development :Foreign exports :- China capitalized on its population and has nurtured SMBs(small and medium business). They established themselves as manufacturing hub which helped them increase their GDP.Closed economy - China doesn’t allow outside investment and especially not in tech sector. Companies like Google, Facebook, Amazon, Uber etc are not allowed to operate freely and instead have their own services. This protected the interests of chinese companies and control the competition.This in short means lot of cash flowing in China but not out of China.China has done a remarkable job in uplifting its economy and will become the largest economy but it still has a long way to go to become a driving force in the global economy. I hope Xi Jinping’s second term will usher a new era and his roadmap includes opening China’s economy and society. - https://sf.curbed.com/2017/9/19/... -https://en.wikipedia.org/wiki/Ca...
How can I fill a matrix whose column sum, row sum, and diagonals sum are the same?How about a python code which can auto-fill required matrix for you !Is this what you want ?(made with Pencil tool)sum of each individual row is 4+3+8=15 ; 9+5+1=15; 2+7+6=15sum of each individual column is 4+9+2=15; 3+5+7=15; 8+1+6=15sum of each individual diagonal is 4+5+6=15; 8+5+2=15;These type of matrices popularly known as magic squares.I’ll tell you a simple way to fill the matrix. Assume every box has directions likeEvery time you have to place the new number to the south-east of previous number.Always place the first number at middle row last columnNow 2 has to be placed to the south-east of 1But that box is out of the matrix so you have to place the number opposite to that boxNow 3 has to be placed south-east to the 2 but it will be again out of the matrix so place number opposite to that boxNow 4 has to be put to the south-east to 3 but it was already occupied by 1 so place 4 to the left side of 3Now 5,6 can placed to south-east because you won’t get out of the box or already fill boxNow 7 has to be placed south-east but it will out of matrix and opposite to the out of box will also be out of the boxIn this case you have to fill the box which is left to the previous numberlike this fill 8 & 9.Coding will be very easy once you get the concept.table[M][n]=1;