Corporate News on 6th August, 2017

=== *Corporate News on 6th August, 2017* ===

*Friendship is sweet responsibility than opportunity.*

☺ *Wish you Happy Friendship Day* 👍🏻


=> Venkaiah Naidu elected India’s vice president, defeats Gopalkrishna Gandhi

=> Economist Rajiv Kumar to replace Arvind Panagariya as Niti Aayog vice chairman

=> Vijender Singh beats Maimaitiali to win WBO Oriental Super Middleweight title

=> Doklam standoff: China mulling ‘small scale military operation’ against India, says report

=> GST Council to crack whip on profiteering firms, cuts rate on tractor parts, others

=> Panama Papers: How can one file returns on salary he never got, Sharif asks

*Business Standard*

=> Bihar Vikas Mission fails to live up to its promise

=> Rajiv Kumar named vice-chairman of NITI Aayog

=> GST Council approves e-way Bill, setting up of anti-profiteering body

=> Venkaiah Naidu to be next vice-president

=> Odisha may get windfall revenue of over Rs 25,000 cr from defaulter miners

=> Vijender beats Zulpikar in WBO Asia Pacific, calls for Indo-China peace


*Economic Times*

=> 20th GST council meet updates: E-way bill gets nod

=> Dell CIO warns IT employees: No organisation can reskill you, do it yourself or be ready to leave

=> China mulling ‘small scale military operations’ against India: Expert

=> Mukesh plans to make RIL world’s most-innovative co

=> Govt appoints Rajiv Kumar as new VC of Niti Aayog

=> NE cuisine is a buffet of unique recipes & flavours

*Financial Express*

=> US President Donald Trump eyes top policy aide for communications director role

=> 43 civilians killed in US-led airstrikes in Syria’s Raqqa

=> Turkey warns new military moves in Syria imminent

=> Russia slams US decision to exit from Paris agreement, calls it ‘terrible mistake’

=> United Nations adopts tougher sanctions on North Korea

=> $1 million payout over exploding whipped cream dispenser in France

*Keep Learning, Sharing and Growing*



Worried about bank deposit rate cuts? Turn to mutual funds to earn more

Worried about bank deposit rate cuts? Turn to mutual funds to earn more


Many individuals are concerned about more banks following the example set by State Bank of India and reducing interest on savings bank deposits and fixed deposits. Many of them, especially retired folks who bank on interest income to take care of their living expense, believe that further reduction in deposit rates are likely to put their finances under severe strain.

The public sector leviathan cut interest rates on savings bank deposits by 0.50 per cent on Tuesday. The move, coming two days before the Reserve Bank of India’s monetary policy review, probably heralding a change in savings bank deposit rates, as many large banks take cue from the public sector major. A rate cut by RBI tomorrow may result in cuts in term or fixed depoists, too.

But should investors be worried? Well, a little bit may be, but not more that that. To begin with, one should not keep a lot of money in savings bank account. Remember, savings bank account mostly offer measly 4 per cent per year. That doesn’t even beat the inflation. Even term deposits barely beat the living inflation. So, it would be a better idea if you can turn your attention to mutual fundsto earn a little extra return.


If you are parking the money for a year or little over a year, you may take a look at arbitrage funds. Arbitrage funds look to exploit the price difference of securities between the cash and future market. These schemes are treated as equity schemes for the purpose of taxation. That means if investments are held over a year, they qualify for long-term capital gains tax. Long-term capital gains tax on equity schemes is currently nil. Arbitrage funds offered 6.31 per cent return in the last year.

Investors can also take a look at various debt schemes, depending on their investment horizon. Debt mutual funds are riskier than bank deposits, but they may also offer marginally higher returns. They score on after tax returns if investments are held over three years. Investment in debt funds held over three years qualify for long-term capital gains tax of 20 per cent with indexation. The indexation benefit helps to reduce tax considerably, especially when inflation is high.

What Happens If You Miss Income Tax Return (ITR) Filing Deadline Today

August 5 (Today) being the last date to file income tax return (ITR) for FY2016-17, you have only few hours to file your ITR. Yesterday, the income tax department said its field offices will remain open till midnight today to facilitate very senior citizens and those with income below Rs. 5 lakh to file tax returns for FY2016-17. But if you still miss the deadline today to file your ITR due to any reason, it does not mean that you cannot file your return for FY2016-17.

You can file belated return till March 2018 for financial year 2016-17. However, if you file belated return (ITR), you may not be able to avail some tax benefits like carrying forward of capital losses over next assessment years. Income tax rules in India allow loss under the head ‘capital gains’ to be set off against any profit under ‘capital gains’ head in the following assessment years. ‘Long term capital loss’ can be set off only against ‘long term capital gains’. However, ‘short term capital losses’ are allowed to be set off against both ‘long term gains’ and ‘short term gains’. If you are not able to set off your entire capital loss in a particular assessment year, both short term and long term loss can be carried forward for 8 assessment years immediately following the assessment year in which the loss was first booked.


Also, if you file your ITR beyond the August 5 deadline, you have to pay penal interest on unpaid tax liabilities at the rate of 1 per cent per month. If the income tax department raises any additional tax demand than what you have already paid, then also you have to pay a penal interest on that. Tax experts advice to deposit unpaid tax liabilities if you have any, at the earliest, even if you file a belated return.



August 05- Today in History

Today in History August 5
1391 Castilian sailors in Barcelona, Spain set fire to a Jewish ghetto, killing 100 people and setting off four days of violence against Jews.
1763 Colonel Henry Bouquet decisively defeats the Indians at the Battle of Bushy Run in Pennsylvania during Pontiac’s rebellion.
1762 Russia, Prussia and Austria sign a treaty agreeing on the partition of Poland.
1815 A peace treaty with Tripoli–which follows treaties with Algeria and Tunis–brings an end to the Barbary Wars.
1858 The first transatlantic cable is completed.
1861 Congress adopts the nation’s first income tax to finance the Civil War.
1864 The Union Navy captures Mobile Bay in Alabama.
1892 Harriet Tubman receives a pension from Congress for her work as a nurse, spy and scout during the Civil War.
1914 The British Expeditionary Force mobilizes for World War I.
1914 The first electric traffic signal lights are installed in Cleveland, Ohio.
1915 The Austro-German Army takes Warsaw, in present-day Poland, on the Eastern Front.
1916 The British navy defeats the Ottomans at the naval battle off Port Said, Egypt.
1921 Mustafa Kemal is appointed virtual ruler of the Ottoman Empire.
1941 The German army completes taking 410,000 Russian prisoners in the Uman and Smolensk pockets in the Soviet Union.
1951 The United Nations Command suspends armistice talks with the North Koreans when armed troops are spotted in neutral areas.
1962 Actress Marilyn Monroe dies under mysterious circumstances.
1964 President Lyndon Johnson begins bombing North Vietnam in retaliation for the Gulf of Tonkin incident and asks Congress to go to war against North Vietnam.
1974 President Richard Nixon admits he ordered a cover-up for political as well as national security reasons.
1981 President Ronald Reagan fires 11,500 striking air traffic controllers.
1992 Four police officers are indicted on civil rights charges in the beating of Rodney King.
1995 Croatian forces capture the city of Knin, a Serb stronghold, during Operation Storm.
1997 The mastermind of the 1993 World Trade Center bombing, Ramzi Yousef, goes on trial.
2012 A gunman in Oak Creek, Wisconsin, opens fire in a Sikh temple, killing six before committing suicide.
Born on August 5
1850 Guy de Maupassant, short story writer and author of “The Necklace.”
1876 Mary Ritter Beard, American historian and writer.
1906 John Houston, film director of such movies as The Treasure of the Sierra Madre and The Maltese Falcon.
1908 Miriam Rothschild, English scientist and writer.
1923 Richard G. Kleindienst, one of the key officials who helped elect Richard Nixon to the presidency in 1969.
1930 Neil Armstrong, the first man to walk on the moon.
1975 Ami Foster, television actress (Punky Brewster); nominated eight times for Young Actress Award.

An IT employee

  • An IT employee

– eats more cakes in a year than a christian🤣

– owns a set of tupperware bottles (1 red, 1 green, 1 voilet and 1 yellow to be precise)😅

– may miss important deadlines but not the essential snacks break🙊

– even celebrates birthdays of his managers

– gets happier on receiving ‘party money’ from onsite than his monthly salary😝

– eats shitty food at parties which costs 800-900 rs just to have good pics in a posh ambience

– eats dal bhaat after reaching home from such parties🤣

– knows more about recent flipkart offers than his own project

– is a master of availing cashback, discount and freebie offers

– ends up helping the customer care employee to whom he/she has called for help

– eagerly waits for friday every week to show off his dressing skills😝😝

– blows ballons, sticks ribbons on the ceilings, makes posters on festivals to impress the hottest guy/girl from the office (how dumb! No, wait! It actually works sometimes 😂😝)
– runs faster than usain bolt on receiving ‘sweets on my desk’ mail

– talks to strangers in the office only when there are sweets on their desk😂

– has goosebumps everytime he has to switch from hindi to english in a meeting

– always holds the door for the person next to him in the office but has the ability to kill all the people standing in the door of a train/bus to get in

– has excellence in getting a place in the lift during rush hours without looking unprofessional

– feels like an FBI agent everytime he swipes the card on the doorlock.

Life of software 😂😂

July 28 – Today in History

Today’s Highlights in History:

On July 28, 1945, a U.S. Army B-25 bomber flying in heavy fog crashed into the 79th floor of New York’s Empire State Building, killing all three people in the plane and 11 people in the building. The U.S. Senate ratified the United Nations Charter by a vote of 89-2.

On this date:

In 1540, King Henry VIII’s chief minister, Thomas Cromwell, was executed, the same day Henry married his fifth wife, Catherine Howard.

In 1794, Maximilien Robespierre, a leading figure of the French Revolution, was sent to the guillotine.

In 1821, Peru declared its independence from Spain.

In 1914, World War I began as Austria-Hungary declared war on Serbia.

In 1932, federal troops forcibly dispersed the so-called “Bonus Army” of World War I veterans who had gathered in Washington to demand payments they weren’t scheduled to receive until 1945.

In 1959, in preparation for statehood, Hawaiians voted to send the first Chinese-American, Republican Hiram L. Fong, to the U.S. Senate and the first Japanese-American, Democrat Daniel K. Inouye, to the U.S. House of Representatives.

In 1965, President Lyndon B. Johnson announced he was increasing the number of American troops in South Vietnam from 75,000 to 125,000 “almost immediately.”

In 1976, an earthquake devastated northern China, killing at least 242,000 people, according to an official estimate.

In 1977, Roy Wilkins turned over leadership of the National Association for the Advancement of Colored People to Benjamin L. Hooks.

In 1984, the Los Angeles Summer Olympics opened.

In 1995, a jury in Union, South Carolina, rejected the death penalty for Susan Smith, sentencing her to life in prison for drowning her two young sons (Smith will be eligible for parole in 2024).

In 2002, nine coal miners trapped in the flooded Quecreek Mine in Somerset, Pennsylvania, were rescued after 77 hours underground.

Ten years ago: Vice President Dick Cheney, with a history of heart problems, had surgery to replace an implanted device that was monitoring his heartbeat.

Five years ago: Syria’s government launched an offensive to retake rebel-held neighborhoods in the nation’s commercial hub of Aleppo. At the London Olympics, Chinese swimmer Ye Shiwen set the first world record, winning the women’s 400-meter individual medley in 4:28.43. Ryan Lochte of the U.S. won the men’s 400-meter individual medley in 4:05.18.

One year ago: Hillary Clinton accepted the Democratic presidential nomination at the party’s convention in Philadelphia, where she cast herself as a unifier for divided times as well as an experienced leader steeled for a volatile world while aggressively challenging Republican Donald Trump’s ability to do the same.


Courtsey : Associted Press