Knowledge update 15 sep-14
0 likes432 views
This daily newsletter contains summaries of news and events across various topics such as markets, economy, amendments, seminars, jobs, sports, politics, movies, facts, education, world news, science and technology, and spirituality. Key events summarized include the Indian stock market indexes, a drop in India's foreign exchange reserves, a seminar on tax audit being organized, and MH17 investigators focusing on metal shards to identify the missile that shot down the plane.
Knowledge update 15 sep-14
- 1. By AnshulSinghal For Private Circulation only
- 2. Index Section Particulars Quotes of the Day Section 1 Market Watch Section 2 Economy Updates Section 3 Amendments Section 4 Seminar Section 5 Job/ Empanelment's Section 6 Sports Section 7 Politics Section 8 Movies Updates Section 9 Amazing Facts Section 10 Education Section 11 WorldNews Section 12 Science and Technology Section 13 Spirituality
- 3. Quotes of The Day
- 4. Section 1 (Market Watch)
- 5. Markets Today Source: http://economictimes.indiatimes.com/markets Stock Indices Particulars Up/Down Sensex 27,061.04 65.17 Nifty 8,105.50 19.80 NSE 8066.50 19.20 BSE 3329.10 7.50 Gold 26,893.00 -93.00 USD 60.65 -0.28
- 6. Section 2 (Economy Updates)
- 7. India's forexreserves slide $1.3 billion to $317.3 billion •Mumbai: India's foreign exchange reserves dipped by USD 1.327 billion to USD 317.313 billion in the week ended September 5 on a slide in the currency assets and gold stockpile, the Reserve Bank said on Friday. The total reserves had increased by USD 60.5 million to USD 318.64 billion in the previous reporting week. Foreign currency assets (FCAs), a major constituent of overall reserves, dropped by USD 1.028 billion to USD 290.364 billion for the week under review, the apex bank said. FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves. After remaining unchanged for many weeks, the gold reserves dipped by USD 240.7 million to USD 20.93 billion. The special drawing rights were down USD 41.6 million to USD 4.344 billion, and India's reserve position with the IMF also dropped by USD 16 million to USD 1.671 billion during the week, the RBI data showed. Source: http://zeenews.india.com
- 8. IOB covers six villages under Jan DhanYojana •State-runIndianOverseasBanktodaysaidithascoveredsixvillagesnearVelloreunderthePradhanMantriJanDhanYojana. ThebankhascoveredthevillagesofKuppam,Murukeri,Pazhaveri, Sindhunagar,KollaimeduandSirukanchiunderthePradhanMantriJanDhanYojana,theChennai-basedbanksaidinastatement. Thestaffofthebankundertookasurveyinthevillagesand800accountswereopenedduringamegacamprecently,itsaid. AccountholderswereprovidedwithpassbooksandpersonalisedRuPaycards.Theyarealsoeligibleforspecialbenefitslikedirectbenefitandfundtransferfacilities,itadded. ThemainfeaturesoftheschemeincludeaRs5,000overdraftfacilityforAadhar-linkedaccountsandaRuPayDebitCardwithanin-builtRs1lakhaccidentinsurancecover. Source : http://www.business-standard.com
- 9. Symphony market cap crosses Rs 5,000 croremark •AHMEDABAD:SymphonyLtdhasenteredintotheleagueof'LargeCap'categorystocks.TheAhmedabadbasedcompanyhasmadetremendousturnaroundinadecade'stimeandcrossedRs5,000croremarketcapitalization. Symphonyhasbeenthebestperformingstockofthedecade2004-2014.SharepriceofSymphonyLtdincreasedfrom80paisa(September13,2004)toRs1,500pershareonFriday- riseofover1800fold.i.e.Rs1000investedinthesharesofSymphonyLtdonSeptember13,2004hasgrowntowhoppingR18.75lakhasonFriday. MarketcapitalisationofSymphonyLtdhascrossedRs5,000croreonFridayfromRs2.80croreadecadeago.Promoterholdinginthecompanystandsat75%whileinstitutionshold6.47%inthecompany(Mutualfunds,DII,etc.at2.66%andFIIsat3.81%)andretailinvestorshold10.39%inthecompany. Source: http://timesofindia.indiatimes.com
- 11. •PNRSocietyforRelief&RehabilitationoftheDisabledTrustVs.DDIT(ITATAhmedabad),ITANo.2729/Ahd/2010,DateofOrder:14/08/2014 •wefindthattheDepartmentalRepresentativecouldnotcontrovertthesubmissionsoftheassesseethattheremunerationofRs4,80,000/-peryearwaspaidtothesaidtrusteebythetrustinearlieryearsalsoforrenderingsimilarserviceswhichwereallowedbytheDepartmentsinceAssessmentYear2003-04.Intheabovecircumstances,inabsenceofanymaterialbroughtbeforeustoshowthattheremunerationofRs4,80,000/-paidtoShriAnantbhaiK.Shahforactuallyrenderingservicesasfulltimesecretaryofthetrustwasinexcessoftheamountwhichcanbereasonablypaidforsuchservices,wedeletethedisallowanceofRs4,80,000/-.Thus,thegroundsofappealoftheassesseeareallowed. Source: http://taxguru.in/income-tax-case-laws Reasonable remuneration paid to secretary of trust, who is also a trustee is allowable
- 12. Source: http://itatonline.org/archives/ S. 254(1): Unnecessary remand by the ITAT causes prejudice and amounts to a failure to exercise jurisdiction Coca-Cola India Private Limited vs. ITAT (Bombay High Court) The Tribunal should not have refused to consider and decide the issue relating to service charges, more so, when an identical view taken by it earlier has not found favourof this Court. This Court repeatedly reminded the Tribunal of its duty as a last fact finding authority of dealing with all factual and legal issues. The Tribunal failed to take any note of the caution which has been administered by this Court and particularly of not remanding cases unnecessarily and without any proper direction. A blanket remand causes serious prejudice to parties. None benefits by non- adjudication or non-consideration of an issue of fact and law by an Appellate Authority and by wholesale remand of the case back to the original authority. This is a clear failure of duty which has to be performed by the Appellate Authority in law. Once the Appellate Authority fails to perform such duty and is corrected on one occasion by this Court, and in relation to the same assessee, then, the least that was expected from the Tribunal was to follow the order and direction of this Court and abide by it even for this later assessment year
- 14. Source: NICAI Updates NIRC of ICAIjointly withPatparganjCPE Study Circleis organizing a Seminar onTuesday, 16th September, 2014onTax Audit and E-Filling of Tax Audit atHotel:-Aura Grand Residency, 439, JagritiEnclave,Delhi-110092, (Near KarkardoomaMetro Station) from05:00 PM to 09:30 PMfollowed by dinner.
- 16. State Agency For Development Of Handloom Cluster Last Date :15/09/2014Expression of interest for empanelment of CAG enlisted chartered accountant firms for providing service to SADHAC. Address:Handicraft Complex,Gandamunda,P.O.Khandagiri, Bhubaneswar- 751030Phone:0-9238102698/99Email:sadhacorissa@gmail.com Source: http://pdicai.org/OppDetail.aspx?MoreBtnId=oppurtunity
- 17. SECTION 6 (SPORTS UPDATE)
- 18. UNION SPORTS MINISTER MEETS SPORTSPERSONS IN GUWAHATI TheSportsAuthorityofIndiarecentlyorganizedan"InteractionProgramme"inGuwahatithatwasattendedbySportMinisterSarbanandaSonowal,severalsportspersonsandveteranplayers. Theprogrammeaimedataddressingvariousissuesrelatedtosports,includingthepromotionofsportsinthestate. TheUnionministerfelicitatedseveralplayersfromvariousdisciplinestoencourageandpromotethem. Source: http://www.business-standard.com
- 21. Section 8 (movies updates)
- 22. Shah RukhKhan buys 'Mughal-e-Azam' posters for Rs 6.84 lakhat Osianauction •SuperstarShahRukhKhanledbiddersattheOsian'sauctionofrareandvintageFilmmemorabiliahereasheboughttwomajesticoriginalpostersofMughal-e-AzamforRs6.84lakh.Lastnight'ssale,partoftheauctionhouse's"GreatestIndianShowonEarth"series,saw163ofthe220lotsbeingsoldforRs55.60lakh. •ApaintingbyArpanaCaur'Pyaarhua,Iqraarhua'showcasingthefamousundertheumbrellasceneofRajKapoorandNargisfromShree420fetchedthehighestpriceofRs7.5lakhfollowedbyanoriginalhand-paintedhardboardstandeeofYahudiwithDilipKumarandMeenaKumariintheirfamousembracewhichwentforRs4.8lakh. •Theauction'smostpopularsectionfocusingonthetrioRajKapoor, DilipKumarandDevAnandandleadingheroinesMadhubala,NargisandMeenaKumari,generatedthegreatestinterestandfrenziedbidding,theorganiserssaid. Source: http://www.dnaindia.com
- 23. Section 9 (Amazing Facts)
- 24. Amazing facts Charlie Chaplin once won the third prize in a Charlie Chaplin look-alike contest. Sherlock Holmes NEVER said “Elementary, my dear Watson”. Source: http://indianrealist.com
- 26. Source: casansaar.com Postponement of Date of Applicability of Advanced ITT course -ICAI As per Regulation 29(c)(iv) of The Chartered Accountants Regulation 1988, students who have registered for Practical Training on or after August 1st, 2012 were required to complete Advanced IT Training before admission to the Final Examination. Having regard to infrastructure and other facilities, the Council of the Institute decided to defer the implementation date of Regulation 29( c )(iv) from August 1, 2012 to February 1, 2013. Accordingly, 100 Hours Advanced ITT course will now be applicable to those students who have registered for Practical Training on or after February 1st, 2013 but before appearing in the Final Examination in terms of Regulation 29(c)(iv) of the Chartered Accountants Regulations, 1988. Students are, however, advised to complete the Advanced ITT well in advance before appearing in the Final Examination so as to avoid any hardship at a later date.
- 28. MH17: INVESTIGATORSFOCUSONMETALSHARDSTOIDENTIFYMISSILETHATSHOTDOWNPLANE TheinvestigationintothedowningofMalaysiaAirlinesflightMH17isnowfocusedonthe25piecesofmetal,recoveredfrombodiesanddebrisfromtheill-fatedplane,toidentifythemissilethatblewtheplaneapart. AccordingtotheBBC,Dutchofficialsheadingtheinquirysaytheywanttoestablishwhethertheironfragmentscouldprovethetheorythataground-to-airmissilestrucktheplane.Investigatorsarenowdependentonforensicsamplesretrievedfrombodiesandluggageofthepassengers,aswellassatellitedata,interviewswithwitnessesandcomputerreconstructionstodeterminethemissile-typeusedfordowningtheflight. FredWesterbeke,chiefprosecutorfortheDutchnationalprosecutionservice,saidatapressconferenceinRotterdamthattheinvestigationwasparticularlyinterestedintheoriginof25piecesofiron,drawnfrom500samples.Hesaidthatthemostlikelyscenariowasthattheplanewasshotdownfromtheground.Fredaddedthatifitcouldbeestablishedthattheironhadcomefromsuchamissile,itwouldserveasanimportantinformation.Atleast298peopleonboardMH17werekilledonJuly17afteramissilereportedlybroughtdowntheplaneasitwasflyingoverwar-torneasternUkraine. Source: http://www.dnaindia.com
- 30. GOVERNMENTALLOWSFREETALKTIMETOPEOPLEONBSNL INKASHMIR NEW DELHI: Communications and IT Minister Ravi Shankar Prasad today said people in flood-hit Kashmir will get free telecom services for a week on BSNL network, and mobile networks have been substantially or partially restored in the valley, except Poonch. Of the total 12,306 base transceiver stations (BTS) or mobile towers in J&K, 6,811 were submerged, he said, adding that of these the government has restored 1,208. "People can talk free for a week on BSNL's network in .. Source: http://economictimes.indiatimes.com
- 32. व्रत एवं पवव विक्रम संित् 2071 भाद्रपद शुक्ऱ सप्तमी से आश्ववन शुक्ऱ षष्ठी तक शक संित् 1936 राष्रीय भाद्रपद 10 से राष्रीय आश्ववन 8 तक हिजरी सन् 1435 श्िल्काद 5 से श्िऱहहज्ि 4 तक Source: http://www.jagran.com/spiritual/panchang-news-hindi.html 15 ससतंबर सप्तमी का श्राद्ध, रोहहणी व्रत, महाऱक्ष्मी अष्टमी व्रत (चन्द्द्रोदयव्यापपनी अष्टमी में), महाक्ष्मी व्रत पूणव, काऱी महापवद्या ियन्द्ती, साहहब सप्तमी (िम्मू-कवमीर), ओठगन (ममथथऱांचऱ), इन्द्िीननयसव डे
- 33. . DISCLAIMER – 1-The opinion(s) expressed by member(s) are of their own, and/ORinformation provided by member(s), the users need to verify it from their own sources. No responsibility of any sort taken by me or any member(s) or the moderator for any opinion expressed or the information posted. 2-The Information is mainly compilation of information from various sources and professionals, for sharing of information in core group.