Newsletter dated 29th July, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“A single twig breaks, but the bundle of twigs is strong.”
Law Updates:
 Due date of filing DVAT return of first quarter extended to Aug 31,
2016.
 Para 3.4 of CBDT's Instruction No. 3/2016 requiring AO to
consider assessee's objections if any as to applicability of Chapter X
and then pass a speaking order as to the need to refer the matter to
TPO is a procedural aspect and is intended to benefit the taxpayer
and so it requires to be applied even to references made prior to
10.3.2016.
 No addition of cash credit under sec. 68 if all deposits routed via
banking channel and depositors were having PAN.
PROFESSIONALS INPUTS:
 MCA vide Notification dated 27th
July, 2016 has notified the
Companies (Incorporation) Third Amendment Rules, 2016.
 MCA vide Notification dated 27th
July, 2016 has notified the
Companies (Accounts) Amendment Rules, 2016.
 MCA vide Notification dated 27th
July, 2016 has designates the
Court of Additional Sessions Judge-03, South-West District,
Dwarka as Special Court for the purposes of providing speedy trial
of offences punishable under the Companies Act, 2013 with
imprisonment of two years or more under the Companies Act, 2013.
 RBI vide Notification No. RBI/2016-17/28 dated 28th
July, 2016 has
issued Guidelines for Relief Measures by NBFCs in areas affected
by Natural Calamities.
MARKET WATCH:
SENSEX: 28,208.62 184.29 NIFTY: 8,666.30 50.50
SILVER: 47,327. 00 1347.00 GOLD (MCX): 31,025.00 248.00
USD/INR: 67.01 -0.13 CRUDE OIL: 2,819.00 -72.00
CS Rajiv Bajaj
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Date: 29th
July, 2016

2. www.csrajivbajaj.com
Larry Page
CEO of Alphabet Inc
Lawrence "Larry" Page (born March 26, 1973) is an American computer
scientist and internet entrepreneur who co-founded Google Inc. with Sergey
Brin, and is the CEO of Google's parent company, Alphabet Inc. After stepping
aside as CEO in August 2001 in favour of Eric Schmidt, Page re-assumed the
role in April 2011. He announced his intention to step aside a second time in
July 2015 to become CEO of Alphabet, under which Google's assets would be
reorganized. Under Page, Alphabet is seeking to deliver major advancements in
a variety of industries. Page is the inventor of PageRank, Google's best-known
search ranking algorithm.
Page is a board member of the X Prize Foundation (XPRIZE) and was elected to the National Academy of
Engineering in 2004. Page received the Marconi Prize in 2004
Early life and background
Page was born in East Lansing, Michigan, United States (U.S.). His father, Carl Vincent Page, Sr., earned a
PhD in computer science from the University of Michigan in 1965, when the field was being established, and
has been described by BBC reporter Will Smale as a "pioneer in computer science and artificial intelligence."
He was a computer science professor at Michigan State University and Page's mother, Gloria, was an instructor
in computer programming at Lyman Briggs College at Michigan State University. Page's mother is Jewish, but
he was not raised in a religious household and "does not readily identify as a Jew."
During an interview, Page recalled his childhood, noting that his house "was usually a mess, with computers,
science and technology magazines and Popular Science magazines all over the place", an environment in which
he immersed himself. Page was an avid reader during his youth, writing in his 2013 Google founders letter that
"I remember spending a huge amount of time poring over books and magazines". According to writer Nicholas
Carlson, the combined influence of Page's home atmosphere and his attentive parents "fostered creativity and
invention". Page also played saxophone and studied music composition while growing up. Page has mentioned
that his musical education inspired his impatience and obsession with speed in computing. "In some sense I feel
like music training led to the high-speed legacy of Google for me,". In an interview Page said that "In music
you’re very cognizant of time. Time is like the primary thing" and that "If you think about it from a music point
of view, if you’re a percussionist, you hit something, it’s got to happen in milliseconds, fractions of a second".
Page was first attracted to computers when he was six years old, as he was able to "play with the stuff lying
around"—first-generation personal computers—that had been left by his parents.He became the "first kid in his
elementary school to turn in an assignment from a word processor". His older brother also taught him to take
things apart and before long he was taking "everything in his house apart to see how it worked". He said that
"from a very early age, I also realized I wanted to invent things. So I became really interested in technology and
business. Probably from when I was 12, I knew I was going to start a company eventually."
Page attended the Okemos Montessori School (now called Montessori Radmoor) in Okemos, Michigan, from
1975 to 1979, and graduated from East Lansing High School in 1991. He attended Interlochen Center for the
Arts as a saxophonist for two summers while in high school. Page holds a Bachelor of Science in computer
engineering from the University of Michigan, with honors and a Master of Science in computer science from
Stanford University. While at the University of Michigan, Page created an inkjet printer made of Lego bricks
(literally a line plotter), after he thought it possible to print large posters cheaply with the use of inkjet
cartridges—Page reverse-engineered the ink cartridge, and built all of the electronics and mechanics to drive it.
Page served as the president of the Beta Epsilon chapter of the Eta Kappa Nu fraternity, and was a member of
the 1993 "Maize & Blue" University of Michigan Solar Car team.As an undergrad at the University of
Michigan, he proposed that the school replace its bus system with something he called a "PRT," or "personal
rapid transit system," which was essentially a driverless monorail with separate cars for every passenger.