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Index

IT

ISO.

We have been awarded the ISO certification yet another time!!!!

We have been accredited the ISO 9000:2000 certification this time by the International Certification Registrar which is registered with ANAB(ANSI-ASQ National Accreditation Board ) to certify companies with management systems that comply with the International ISO standards.

We have been certified under 'Provision of IT enabled services in the areas of finance, US accounts and US tax and related sectors'

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Tax.

2008 Inflation Adjustments Widen Tax Brackets, Raise IRA/401(k) Limits and Expand Tax Benefits

For 2008, personal exemptions and standard deductions will rise, tax brackets will widen and workers will be able to save more for retirement, thanks to inflation adjustments announced today by the Internal Revenue Service. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits, affecting virtually every taxpayer, are being adjusted for 2008. Key changes affecting 2008 returns, filed by most taxpayers in early 2009, include the following:

• The value of each personal and dependency exemption, available to most taxpayers, is $3,500, up $100 from 2007.

• The new standard deduction is $10,900 for married couples filing a joint return (up $200), $5,450 for singles and married individuals filing separately (up $100) and $8,000 for heads of household (up $150). Nearly two out of three taxpayers take the standard deduction, rather than itemizing deductions, such as mortgage interest, charitable contributions and state and local taxes.

• Tax-bracket thresholds increase for each filing status. For a married couple filing a joint return, for example, the taxable-income threshold separating the 15-percent bracket from the 25-percent bracket is $65,100, up from $63,700 in 2007.

• The maximum earned income tax credit for low and moderate income workers and working families with two or more children is $4,824, up from $4,716. The income limit for the credit for joint return filers with two or more children is $41,646, up from $39,783.

• The maximum Hope credit, available for the first two years of post-secondary education, is $1,800, up from $1,650 in 2007.

• The income limit for the savers credit is $53,000 for joint filers (up $1,000), $39,750 for heads of household (up $750) and $26,500 for singles and married persons filing separately (up$500). Low-and moderate income workers who contribute to a retirement plan, such as an IRA or 401(k), may qualify for the credit, which is available in addition to any other tax savings that apply.

• The contribution amount allowed for Roth IRAs begins to phase out for joint filers with incomes exceeding $159,000 (up from $156,000) and $101,000 (up from $99,000) for singles and heads of household.

• For contributions to a traditional IRA, the deduction phase-out range for an individual covered by a retirement plan at work begins at income of $85,000 for joint filers (up from $83,000) and $53,000 for a single person or head of household (up from $52,000).

• Participants in most employer-sponsored 401(k) plans and 403(b) plans for employees of public schools and certain tax-exempt organizations can contribute up to $15,500, unchanged from 2007. Individuals, age 50 or over, can make an additional contribution of up to $5,000, also unchanged from 2007.

• Individuals participating in SIMPLE retirement plans can contribute $10,500, unchanged from 2007. Those, age 50 or over, can make an additional contribution of up to $2,500, also unchanged from 2007.

• The annual contribution limit for most defined contribution plans rises to $46,000, up from $45,000 in 2007.

-Source-www.irs.gov.

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Evolution of Information Technology

In simple words ‘IT’ means collection, storage, dissimilation and use of information. Not confined to hardware & software but acknowledgement of importance of man & the goals he sets to the technology.

The scientific technological & engineering disciplines & the management techniques used in information handling & processing their application, computer & their interpretation with man, machines and associated social, economical & cultural matters are covered in IT.

Data leads to information, information leads to knowledge, knowledge leads to wisdom, & wisdom is the key to existence of human civilizations. Our need of accuracy & revolution towards processing of information has led us to ‘Information Revolution’. Computers and IT tools can take humans to the peak of new millennium or destroy human civilization.

Technological aspects of IT:

Enabling Technologies: Enabling
Technologies involves:-

a. Data Generation
b. Data Processing
c. Data Transportation
d. Data Storage
e. Data Retrieval
f. Data Representation

Basis of Enabling technologies:

• A Global information infrastructure: Basis is to create information channel i.e. information can move to one-another; information distribution

• A national information infrastructure & static information infrastructure as natural corollaries to JIT (Just In Time), can be developed in integrated manner.

• Information superhighways comprise of satellite links, optical fibre links, microwave networks (3G/4G networks), telephone lines, communication modes (internet modes), cellular phone stations, VSAT terminals.

• Most common hardware in the users premises is a PC with multimedia technology & associated communicator links.

• Operational & Application Software: In a nutshell, system of information to behave in certain manner is necessary.

Major Technologies evolved in the entire activity:

i) Data Processing & storage by computers. In the form of silicon based IC (integrated circuit) technology.

ii) Communication technology: Optical fibre communication resulting fibre optic link around the globe.

iii) Memory technologies – Laser disc & CD-ROM.

iv) Display technologies – LCD & digital.

ii) Communication Technology: Main thrust to it came from development of computer technology and defense requirements. One would wonder that backbone of today IT, the internet was started as small project (ARPANET) to communicate within the defense requirements in 1970s. Optical fibre technology in communication is used today so that information must not be lost even to a smaller extent. Satellite technology & internet use has been wide spread.

iii) Memory Technology: This technology is related to improvement of communication technology. This technology has been broadly divided into two parts:

(a) Toroidal memory & semiconductor memory.
(b) Laser memory devices such as CDROMS, DVD&LDROMS, MP3 systems.

- Saakshi Grover

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Book Review.

Jalebi Management

Bringing the very Indian jalebi that is consumed and enjoyed by our masses to the rarefied world of global business is in itself a message. An important addition to the literature of management as a discipline, this pioneering book starts by provoking readers into opening their minds to the immense possibilities and opportunities that the world offers people who are inclined to take the business plunge.

The book alerts emerging countries on how to step into an innovative activity frame and the importance of paying attention to human culture, lifestyle and trends, while conducting business. Marked by original thought, concepts, processes and graphics, it demonstrates that business organizations of today must be sensitive to the nuances of global social culture so as to bring about quantum growth. In particular, it establishes that there is no barrier between industry and society.

Shombit's book, his management techniques and his views are not just creative, but grounded in reality

About the Author:

Shombit Sengupta is an international management strategy consultant whose domain specialization includes corporate transformation, branding, product design and retail addiction.

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Fun. Events.

Crack the Puzzle

A group of friends went on a holiday to a hill station. It rained for 13 days. But when it rained in the morning the afternoon was lovely. And when it rained in the afternoon the day was preceded by a clear morning. Altogether there were 11 very nice mornings and 12 very nice afternoons. Can you tell how many days did our holiday last?

The answer will be given the next issue.

Laws of Nature.

QUEUE: If you change queues, the one you have left will start to move faster than the one you are in now.

TELEPHONE: When you dial a wrong number, you never get an engaged one.

MECHANICS: After your hands are coated with grease, your nose will begin to itch.

WORKSHOP: Any tool, when dropped, will roll to the least accessible corner.

BATH: When the body is immersed in water, the telephone rings.

BIOMECHANICS: The severity of the itch is inversely proportional to the reach.

THEATRE: People with the seats at the furthest from the aisle arrive last.

Good Thoughts

The good you do today will be forgotten tomorrow.
Do good anyway.

Honesty and frankness make you vulnerable.
Be honest and frank anyway.

 The biggest men and women with the biggest ideas can be shot down
by the smallest men and women with the smallest minds.
Think big anyway.

- Kailash




Vocab..

Inscrutable - Of an unclear nature or difficult to perceive by sight.

Euphemism - An inoffensive expression that is substituted for one that is considered offensive.


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  • Viral J Modi On 3rd August
  • Gopi Anand On 16th August
  • Gerold Vasanth On 17th August
  • Purushotham. C On 1st September
  • Chandra Shekar On 15th October
  • Saakshi Grover On 17th October
  • Saritha and C Karthik On 18th October
  • Vijayalakshmi On 21st October.
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Movie Review. Related Links
 

A must watch!!!

The Pursuit of Happyness.

This is an Inspiring tale of a San Francisco salesman struggling to build a future for himself and his 5 year old son. His only Hope is an unpaid Internship in a brutally competitive stock-broker training program, where only twenty interns will make the cut. But without a salary. The story is about his determination and how he rises above his obstacles to become a Wall Street legend. Will Smith and his son Jaden smith star in this inspiring tale.

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Contributors


  • Santhosh Kumar. K
  • Dhanya Rajaram
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