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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“While always looking for the good in others, you will find
the good in yourself.”
Law Updates:
 Tribunal has power to impose costs on adjudication authority for
passing arbitrary/unreasoned orders and may also direct payment of
costs into PM National Relief Fund: Punjab & Haryana High Court.
 Madras High Court allows TDS exemption on salary of nuns or
priests working in Schools.
 Company developing its own software product isn't comparable
with software development service provider: Hyderabad Tribunal.
 Where assessee was dealing in mobiles and claimed that during year
it had purchased gold coins for a certain amount with motive of
increasing sale of mobiles and further claimed deduction of said
expenditure, since authorities below had come to conclusion that no
expenditure was incurred on purchase of gold coins, impugned
expenditure could not be allowed under section 37(1).
:
PROFESSIONALS INPUTS:
 Forms 11 LLP is likely to be revised on MCA21 LLP Forms
Download page w.e.f 8th June 2016. Stakeholders are advised to
check the latest version before filing.
 SEBI vide Press Release dated 07th
June, 2016 Seeks to cautions
investors not to invest in schemes offered by entities barred by
SEBI from raising money or entities not registered with SEBI.
 CBEC vide Circular No. 221/01-2016-CX dated 06th
June, 2016 has
issued Instructions on Information returns to be furnished under
Notification No. 4/2016-ST dated 15.02.2016.
MARKET WATCH:
SENSEX: 27,009.65 232.23 NIFTY: 8,266.45 65.40
SILVER: 38,950. 00 -192.00 GOLD (MCX): 29,275.00 -175.00
USD/INR: 66.77 -0.19 CRUDE OIL: 3,350.00 45.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 08th
June, 2016
www.csrajivbajaj.com
Mark Zuckerburg
Chairman Facebook
Mark Elliot Zuckerberg (born May 14, 1984) is an
American programmer, Internet entrepreneur, and philanthropist. He is the
chairman, chief executive, and co-founder of the social
networking website Facebook. His net worth is estimated to be US$51.2 billion
June 2016.
Since 2010, Time magazine has named Zuckerberg among the 100 wealthiest
and most influential people in the world as a part of its Person of the
Year distinction
Early Life
Zuckerberg was born in 1984 in White Plains, New York. He is the son of dentist Edward Zuckerberg and
psychiatrist Karen Kempner. He and his three sisters, Randi, Donna, and Arielle, were brought up in Dobbs
Ferry, New York, a small Westchester County village about 21 miles (34 km) north of Midtown
Manhattan. Zuckerberg was raised Jewish and had his bar mitzvah when he turned 13. Afterward, he became
an atheist.
At Ardsley High School, Zuckerberg excelled in classes. He transferred to Phillips Exeter Academy in New
Hampshire in his junior year, where he won prizes in science (math, astronomy, and physics) and classical
studies. On his college application, Zuckerberg claimed that he could read and write French, Hebrew, Latin, and
ancient Greek. He was captain of the fencing team. At Harvard College, he was known for reciting lines from
epic poems such as The Iliad
Carrer
Zuckerberg launched Facebook from his Harvard dormitory room on February 4, 2004. An earlier inspiration
for Facebook may have come from Phillips Exeter Academy, the prep school from which Zuckerberg graduated
in 2002. It published its own student directory, "The Photo Address Book", which students referred to as "The
Facebook". Such photo directories were an important part of the student social experience at many private
schools. With them, students were able to list attributes such as their class years, their friends, and their
telephone numbers.
Once at college, Zuckerberg's Facebook started off as just a "Harvard thing" until Zuckerberg decided to spread
it to other schools, enlisting the help of roommate Dustin Moskovitz. They began with Columbia, New York
University, Stanford, Dartmouth, Cornell, Penn, Brown, and Yale Samyr Laine, representing Haiti at the 2012
Summer Olympics, shared a room with Zuckerberg during Facebook's founding. "Mark was clearly on to great
things," said Laine, who was Facebook's fourteenth user.
After Zuckerberg moved to Palo Alto, California with Moskovitz and some friends, they leased a small house
that served as an office. Over the summer, Zuckerberg met Peter Thiel who invested in the company. They got
their first office in mid-2004. According to Zuckerberg, the group planned to return to Harvard but eventually
decided to remain in California. They had already turned down offers by major corporations to buy the
company. In an interview in 2007, Zuckerberg explained his reasoning: "It's not because of the amount of
money. For me and my colleagues, the most important thing is that we create an open information flow for
people. Having media corporations owned by conglomerates is just not an attractive idea to me."
He restated these goals to Wired magazine in 2010: "The thing I really care about is the mission, making the
world open." Earlier, in April 2009, Zuckerberg sought the advice of former Netscape CFO Peter Currie about
financing strategies for Facebook. On July 21, 2010, Zuckerberg reported that the company reached the 500
million-user mark.

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Newsletter dated 08th june, 2016

  • 1. www.csrajivbajaj.com THOUGHT OF THE DAY THOUGHT OF THE DAY “While always looking for the good in others, you will find the good in yourself.” Law Updates:  Tribunal has power to impose costs on adjudication authority for passing arbitrary/unreasoned orders and may also direct payment of costs into PM National Relief Fund: Punjab & Haryana High Court.  Madras High Court allows TDS exemption on salary of nuns or priests working in Schools.  Company developing its own software product isn't comparable with software development service provider: Hyderabad Tribunal.  Where assessee was dealing in mobiles and claimed that during year it had purchased gold coins for a certain amount with motive of increasing sale of mobiles and further claimed deduction of said expenditure, since authorities below had come to conclusion that no expenditure was incurred on purchase of gold coins, impugned expenditure could not be allowed under section 37(1). : PROFESSIONALS INPUTS:  Forms 11 LLP is likely to be revised on MCA21 LLP Forms Download page w.e.f 8th June 2016. Stakeholders are advised to check the latest version before filing.  SEBI vide Press Release dated 07th June, 2016 Seeks to cautions investors not to invest in schemes offered by entities barred by SEBI from raising money or entities not registered with SEBI.  CBEC vide Circular No. 221/01-2016-CX dated 06th June, 2016 has issued Instructions on Information returns to be furnished under Notification No. 4/2016-ST dated 15.02.2016. MARKET WATCH: SENSEX: 27,009.65 232.23 NIFTY: 8,266.45 65.40 SILVER: 38,950. 00 -192.00 GOLD (MCX): 29,275.00 -175.00 USD/INR: 66.77 -0.19 CRUDE OIL: 3,350.00 45.00 CS Rajiv Bajaj 9811453353 Bajajr66@gmail.com youtube.com/csrajivbajaj https://www.facebook.com/Rajiv 1Bajaj http://www.csrajivbajaj.com Date: 08th June, 2016
  • 2. www.csrajivbajaj.com Mark Zuckerburg Chairman Facebook Mark Elliot Zuckerberg (born May 14, 1984) is an American programmer, Internet entrepreneur, and philanthropist. He is the chairman, chief executive, and co-founder of the social networking website Facebook. His net worth is estimated to be US$51.2 billion June 2016. Since 2010, Time magazine has named Zuckerberg among the 100 wealthiest and most influential people in the world as a part of its Person of the Year distinction Early Life Zuckerberg was born in 1984 in White Plains, New York. He is the son of dentist Edward Zuckerberg and psychiatrist Karen Kempner. He and his three sisters, Randi, Donna, and Arielle, were brought up in Dobbs Ferry, New York, a small Westchester County village about 21 miles (34 km) north of Midtown Manhattan. Zuckerberg was raised Jewish and had his bar mitzvah when he turned 13. Afterward, he became an atheist. At Ardsley High School, Zuckerberg excelled in classes. He transferred to Phillips Exeter Academy in New Hampshire in his junior year, where he won prizes in science (math, astronomy, and physics) and classical studies. On his college application, Zuckerberg claimed that he could read and write French, Hebrew, Latin, and ancient Greek. He was captain of the fencing team. At Harvard College, he was known for reciting lines from epic poems such as The Iliad Carrer Zuckerberg launched Facebook from his Harvard dormitory room on February 4, 2004. An earlier inspiration for Facebook may have come from Phillips Exeter Academy, the prep school from which Zuckerberg graduated in 2002. It published its own student directory, "The Photo Address Book", which students referred to as "The Facebook". Such photo directories were an important part of the student social experience at many private schools. With them, students were able to list attributes such as their class years, their friends, and their telephone numbers. Once at college, Zuckerberg's Facebook started off as just a "Harvard thing" until Zuckerberg decided to spread it to other schools, enlisting the help of roommate Dustin Moskovitz. They began with Columbia, New York University, Stanford, Dartmouth, Cornell, Penn, Brown, and Yale Samyr Laine, representing Haiti at the 2012 Summer Olympics, shared a room with Zuckerberg during Facebook's founding. "Mark was clearly on to great things," said Laine, who was Facebook's fourteenth user. After Zuckerberg moved to Palo Alto, California with Moskovitz and some friends, they leased a small house that served as an office. Over the summer, Zuckerberg met Peter Thiel who invested in the company. They got their first office in mid-2004. According to Zuckerberg, the group planned to return to Harvard but eventually decided to remain in California. They had already turned down offers by major corporations to buy the company. In an interview in 2007, Zuckerberg explained his reasoning: "It's not because of the amount of money. For me and my colleagues, the most important thing is that we create an open information flow for people. Having media corporations owned by conglomerates is just not an attractive idea to me." He restated these goals to Wired magazine in 2010: "The thing I really care about is the mission, making the world open." Earlier, in April 2009, Zuckerberg sought the advice of former Netscape CFO Peter Currie about financing strategies for Facebook. On July 21, 2010, Zuckerberg reported that the company reached the 500 million-user mark.