NewOCR.com is a free online OCR (Optical Character Recognition) service, which can analyze the text in any image file that you upload, and then convert the text from the image into text that you can easily edit on your computer.
You may upload your image file in JPG, TIFF, PDF or even ZIP format. It has 106 recognition languages which includes even Hindi, Gujarati and Telugu. The output can be downloaded in Plain text (TXT) or Microsoft Word (DOC) or Adobe Acrobat (PDF) formats. It supports low resolution and poorly scanned pages too! It also recognizes mathematical equations and allows rotation of text while converting. Multi-column support for newspaper and magazine articles is also in-built.
The best part is that the conversion is free and there is no registration. Just head to http://www.newocr.com, upload the file and convert it into text.
A very convenient tool for daily use online.