There are three dominant tech giants, i.e. Apple, Microsoft and Google. We all know how apple and Microsoft make money but we always wonder how does Google makes money as virtually it is providing everything free. So meteoric is the rise of the Google that every one wonders how it earns. In the year 2014 Google had revenue of whopping $66 billion and net profit of $14 billion. That's an astonishing figure.
HOW GOOGLE EARNS
We all know Google's major revenue comes from advertisement. 96% of Google's revenue comes from advertisement. But still question remains how? The answer to the question is Google AdSense and Google AdWords.
Step-wise Procedures and Guide for e-filing of Form 15G, 15H in electronic form by the deductors to the office of the income tax
CBDT vide notification No. 76/2015 dated 29/09/2015 provided for the electronic filing of form 15G and form 15H declarations by person claiming receipt of certain incomes without deduction of tax wef 01/10/2015.
Later Directorate of income-tax (Systems) vide Notification No. 04/2015 dated 01/12/2015 further specified the procedure , formats and standards facilitating electronic filing of the Form 15G and 15H.
Electronic formats have since been finalized and have been made live. Income Tax Department has also specified Instructions to e-File “Statement of Form 15G/15H which are reproduced here under together with added visuals to help users.
Rajya Sabha has passed Real Estate Bill on 10th March, 2016.
Some of the benefits to the consumers by passage of this Bill are listed below :
As of now the Real Estate sector was largely unregulated in India. If a consumer had a complaint against a developer he would had to make rounds of consumer or civil courts. Also absence of standardization and lack of adequate consumer protection has constrained the healthy and orderly growth of the industry. Not anymore. Once the bill becomes an Act, in case of any grievance, the consumer can go to the real estate regulator for redressal.
The bill will make it mandatory for all commercial and residential real estate projects where the land is over 500 sq. mt. or eight apartments will have to register with the regulator before launching a project. By making registration of the project compulsory with the regulatory authority, the bill aims to provide greater transparency in project marketing and execution. Failure to do so will attract a penalty which may be up to 10% of the project cost and a repeat offence could land the developer in jail.
Full EPF balance cannot be withdrawn (limit on early PF withdrawals)
Existing Rule : The EPF members (employees) can withdraw the full EPF balance after 60 days of unemployment. (The EPF balance consists of employee’s contributions + employer’s contributions + interest amounts. Every month 12% of your “salary” is contributed towards EPF account).
New Rule : The EPF members can not withdraw full PF amount before attaining the age of retirement. The maximum withdrawal on cessation of employment cannot exceed an amount aggregating employee’s own contribution and interest accrued thereon. You can withdraw your contributions + interest portion only. The employer’s portion can be withdrawn after attaining the retirement age (58 years).
6 changes you must know for registration of company’s name under new Rules [MCA Notification dated 22/01/2016]
The Govt. has notified the Companies (Incorporation) Amendment Rules, 2016 (‘Amended Incorporation Rules’). Now the process of reservation of name of companies has been simplified. Following changes have been made for ease of doing business in India:
Name of company need not to be in consonance with principal object : Under extant norms, the company’s name was necessarily required to be in consonance with principal object, if such name resembled any object of company. Now as per the amended Rules the name of company will not be considered undesirable even if it is not in consonance with the principal objects of the company as set out in Memorandum of association. Let us understand this condition with the help of an example. Suppose if a company wants to opt its name as ‘ABC Builders Pvt. Ltd.’ then it is not necessary that its principal object should be related to construction and development only. Thus, now company is free to choose such name which is not in consonance with principal object.
