[Professional Updates]

Dear Professional Colleague,

I ask myself so many times what's there in the day ahead? Why still ask when you start the day with a happy heart and a big smile…!!!Good morning for today…!!!

April 7: World Health Day

World health Day was observed all over the world on April 7, 2015.
Theme for year 2015 was “FOOD SAFETY” with the slogan from farm to plate, make food safe.
Every year on April 7, World Health Day is celebrated under the sponsorship of the World Health Organization (WHO).
Purpose: To focus on increasing the life expectancy by adding good health to the lives of people and promoting healthier living habits.
This day marks the WHO’s founding and is observed since 1950.
Since 1950 then April 7 every year is seen as an opportunity by the WHO to draw worldwide attention to a subject of major importance to global health each year.

STOCK MARKET

BSE Sensex

07.04.2015

28516.59

+12.13

NSE Nifty

07.04.2015

8660.30

+.040

COMPANIES ACT, 2013

PRESENTATIONS:

1. PSU (Public Sector Undertakings) (CLICK HERE FOR DETAIL)

2. CSR (Corporate Social Responsibility) (CLICK HERE FOR DETAIL)

RESERVE BANK OF INDIA

RBI RATES

Bank:	8.50%	Repo:	7.50%	Reverse Repo:	6.50%	MSF	8.50 %
CRR:	4.00 %	SLR:	21.50 %

EXCHANGE RATES (Base Currency INR)

$ 1 USD :

62.3321

€ 1 Euro:

68.0791

¥ 100 Japan:

52.1400

£ 1 Pound:

92.8312

UPDATES

INCOME TAX

In Re Booz & Company (Australia) Pvt. Ltd (AAR)

TITLE: Entire law on what constitutes a “Permanent Establishment” and “Business Connection” explained

As regards a “permanent establishment”, various factors have to be taken into account to decide a Fixed place PE which inter alia includes a right of disposal over the premises. No strait jacket formula applicable to all cases can be laid down. Generally the establishment must belong to the Employer and involve an element of ownership, management and authority over the establishment. In other words the taxpayer must have the element of ownership, management and authority over the establishment. As regards a “business connection”, the essential features may be summed up as follows: (a) a real and intimate relation must exist between the trading activities carried on outside India by a non-resident and the activities within India; (b) such relation shall contribute, directly or indirectly, to the earning of income by the non-resident in his business; (c) a course of dealing or continuity of relationship and not a mere isolated or stray nexus between the business of the non-resident outside India and the activity in India, would furnish a strong indication of ‘business connection’ in India. Apart from the fact that requirements of Expln. 2, referred to above, are satisfied, the facts of the instant case would also fulfill the aforementioned essential features of business connection.

GENERAL KNOWLEDGE

The National Green Tribunal (NGT) on 7 April 2015 held that all diesel vehicles heavy or light which are more than 10 years old will not be permitted to ply in Delhi and NCR.
Cabinet Committee on Economic Affairs (CCEA) meeting chaired by Prime Minister Narendra Modi on 7 April 2015 approved strengthening and widening of three sections connecting the two temple towns of Varanasi and Madurai.
15-year-old Indian-origin student, Pratap Singh from United Kingdom (UK) has won prestigious award Institute of Physics (IOP) Prize.
State owned Dena Bank has signed Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India to provide insurance cover to its all Aadhaar-linked savings account holders in the age group of 18 to 50 years.
Bangladesh cabinet meeting chaired by Prime Minister Sheikh Hasina has approved the revised India-Bangladesh trade agreement.