Anti-lock Braking System...

I did some google search and found some of the good literature on ABS...Please download the documents from below...

1. Antilock Brakes Report:

http://www.scribd.com/doc/8513612/Anti-lock-brakes-Report

2. ABS Trainning:

http://www.scribd.com/doc/17766484/ABS-Training

VALUATION OF PERQUISITES-PETROL EXPENSES AND MAINT CHARGES

My office is a Govt of india undertaking,having Industrial pay pattern.Accordingly our employees are being reimbursed the charges for fix quantity of Petrol and fix amount of maintenance charges per month,every employee is supposed to use his own vehicle for official work within a radius of 8 km. one side and no conveyance charges is paid to him.

Please let me know the tax treatment of this payment in light of new perquisites taxabilty provisions.?

Employee owned Vehicle ,Partly used for official & party for Personal purpose.

where Motor car/vehicle is owned by employee , in 99.99 % it is being used both for official as per as personal purposes means used exclusively for official purpose is not possible .So I assume here that the vehicle for which reimbursement of expenses has been claimed is used for official and personal purpose.further there is no difference in valuation of such perquisites ,whether vehicle is used with 8 kilometre or more.Further it is also not covered under transport allowance.(fixed 800 Pm exemption u/s 10(14)

Valuation of perquisite in Above case.

New rule has defined a standard amount, which is deemed to be the expenses attributable to official purpose out of total expense /amount reimbursement of amount for Maint. and running charges .So out of total amount reimbursed to employee such defined amount is to be reduced to get valuation of perquisites .Detail is Given as under.

If Employee owned a Motor Car

• Motor Car =<1600cc>
• Motor Car >1600CC Total expenses By employer (Petrol bill +Maint charges) minus 2400/-pm.

If Employee owned as vehicle other than motor car then perks value will be as under.

• Total expenses By employer (Petrol bill +Maint charges) minus 900/-pm.

However where employee claims that the motor-car/vehicle is used wholly and exclusively in the performance of official duty or that the actual expenses on the running and maintenance of the motor-car owned by the employee for official purposes is more than the amounts deductible (Deemed amount 1800/2400/900 as the case may be) he may claim a higher amount attributable to such official use and the value of perquisite in such a case shall be the actual amount attributable to official use of the vehicle provided that the following conditions are fulfilled:—

• the employer has maintained complete details of journey undertaken for official purpose which may include date of journey, destination, mileage and the amount of expenditure incurred thereon;
• the employer gives a certificate to the effect that the expenditure was incurred wholly and exclusively for the performance of official duties.

so If employee can arrange details given above then he can deduct full amount or actual amount and valuation of perks will be reduced to such amount

Example: suppose employer has paid 2000 as maint. charges per month and 3000 as petrol charges to you an you have car less than or equal to 1600 CC

• Perks will be 5000(2000+3000)-1800=3200 pm .

Suppose in above example ,you have a record of all the journey performed for official expenses and expense on such official journey is amounting to Rs 4000/- ina month

• In such case valuation will be 5000-4000=1000/pm

but your must have to prepare the records suggested above in notification .

Source : http://www.simpletaxindia.org/2010/01/valuation-of-perquisites-petrol.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+SimpleTaxIndia+(SIMPLE+TAX+INDIA)

Nitrogen Tyre Inflator Banners...

IOC to increase Haldia refinery capacity by 25%

NEW DELHI: State-run Indian Oil Corporation will raise the capacity of its Haldia refinery by 25 per cent to 7.5 million tonnes in one month, its Director (Refineries) B N Bankapur said today.

The company will expand its 12 million tonnes a year Panipat refinery to 15 million tonnes by August, he said.

"We will commission Haldia expansion unit in a month’s time and Panipat by August," he said.

IOC's Haldia refinery currently has a capacity of processing 6 million tonnes a year of crude oil. After the expansion, the unit would produce Euro-III and Euro-IV grade petrol and diesel.

The company operates 10 refineries with a total capacity of over 60 million tonnes a year. Haldia is its only coastal refinery and caters to the demand of eastern India.

Bankapur said the expansion of Panipat refinery, which was originally scheduled for March 2010, has been delayed by 4-5 months.

IOC Chairman Sarthak Behuria said the company may need to import 1.5-2 million tonnes of Euro-III grade diesel this year to meet the rise in demand.

"We estimate a shortfall in diesel production this year," he said.

Besides, IOC would import 2.3-2.4 million tons of LPG and some kerosene this year.

Source : http://economictimes.indiatimes.com/News/News-By-Industry/Energy/Oil-Gas/IOC-to-increase-Haldia-refinery-capacity-by-25/articleshow/5436436.cms

Will petrol prices increase?

Petroleum Minister Murli Deora, today said he would broach the subject of fuel pricing with Prime Minister Manmohan Singh later today when he meets him to discuss the health of oil companies.

“Of course, prices will be discussed... if you review the financial health of oil companies, this (pricing) is a subject that will come up for discussion,” he told reporters here.

A source had yesterday said that “Petroleum Ministry is likely to propose deregulation of petrol prices and gradual phasing out of subsidies on diesel to ease burden on public sector oil marketing companies” that may entail a hike of Rs. 3 per litre in petrol rates.

The government has not allowed Indian Oil, Bharat Petroleum and Hindustan Petroleum to raise rates of petrol, diesel, domestic LPG and kerosene despite the cost of raw material (crude oil) jumping to USD 82 per barrel.

The three firms are projected to lose Rs. 44,300 crores in revenues on fuel sale this fiscal.

The three firms sell petrol at a loss of Rs. 3.06 a litre, diesel at Rs. 1.56 per litre, kerosene at a loss of Rs. 17.23 per litre and LPG at a discount of Rs. 299.01 a cylinder.

Source : http://beta.thehindu.com/news/national/article80080.ece

IOC to pay compensation to gas tanker accident victims

The Indian Oil Corporation has decided to provide compensation to the victims of the recent gas tanker accident at Puthentheruvu near Karunagappally in Kollam district.

An official release issued by the Office of the Food and Civil Supplies Minister here on Tuesday said that the company would provide Rs. 5 lakhs to the next of kin of the dead. (Nine persons had been killed in the accident.) The injured would be provided Rs. 25000 to Rs. 50000, depending on the gravity of the injuries. Besides, the company would provide Rs. 50 lakhs to the State government to be disbursed to people whose properties were destroyed or damaged.

The release recalled that Chief Minister V. S. Achuthanandan had written to Union Minister for Petroleum and Natural Gas Murli Deora requesting payment of compensation to the next of kin of the dead, the injured and those who had lost property. Besides, Minister C. Divakaran, who represents the Karunagappally constituency, had contacted the Chairman and Managing Director of Indian Oil Corporation S. Bahuria regarding the compensation.

Source : http://beta.thehindu.com/news/states/kerala/article79553.ece

Tobacco could be biofuel of future vehicles...

Researchers have identified a way of increasing oil content in tobacco leaves as a prelude to using these for biofuel.

In some instances, the modified tobacco plants produced 20-fold more oil in their leaves, said Vyacheslav Andrianov, assistant professor of cancer biology at Jefferson Medical College.

Tobacco can generate biofuel more efficiently than other agricultural crops. However, most of the oil is typically found in the seeds - tobacco seeds are composed of about 40 percent oil per dry weight, adds Mr. Andrianov.

Although seed oil has been tested for use as fuel in diesel engines, tobacco plants yield a modest quantity of seeds, or about 600 kg per acre.

Mr. Andrianov and his colleagues sought to find ways to engineer tobacco plants to have a higher oil content.

“Tobacco is very attractive as a biofuel because the idea is to use plants that aren't used in food production,” he said. “We have found ways to genetically engineer the plants so that their leaves express more oil. In some instances, the modified plants produced 20-fold more oil in the leaves.”

“Based on these data, tobacco represents an attractive and promising 'energy plant' platform, and could also serve as a model for the utilisation of other high-biomass plants for biofuel production,” concludes Mr. Andrianov.

These findings were published online in Plant Biotechnology Journal.

(Source: http://beta.thehindu.com/sci-tech/article74003.ece)

Technical Details:

(Source : http://www3.interscience.wiley.com/cgi-bin/fulltext/123226769/HTMLSTART)

More Information can be obtained from http://www.wiley.com/bw/journal.asp?ref=1467-7644

Potential of tobacco for biofuel production

As oil prices rise and maize starch-based ethanol appears increasingly unsustainable, development of alternative feedstocks to replace food crops such as soybean and corn is crucial for wide-scale biofuel production. By overexpressing single genes, DGAT and LEC2, we demonstrated the potential of manipulating metabolic pathways for at least a twofold increase of oil accumulation in tobacco green biomass in each transformation experiment. It is tempting to assume that the over-expression of both genes in the same plant will double the accumulation of extractable FA, however it should be confirmed experimentally. Additional means of increasing oil accumulation include using other strong enhancers/promoters in combination with DGAT or other key enzymes influencing oil biosynthesis such as acetyl-CoA carboxylase (Klaus et al., 2004), thioesterase (Dörmann et al., 2000), gene amplification technology (Borisjuk et al., 2000), blockage of lipid breakdown (Scolombe et al., 2009), or inhibition of the pathways that divert energy and metabolite flow from oil biosynthesis. Special consideration is required for the enzymes leading to the synthesis of PA, that could be a bottleneck for further increases in TAG and phospholipid accumulation, as indicated in this study (Figure 3, Table 1).

There is also a number of options for choosing an optimal tobacco host species that possesses higher natural oil content (Koiwai et al., 1983), high-sugar content and bred (McCabeet al., 2008) or genetically engineered tobacco with improved biomass charactecteristics (Sticklen, 2006). While overexpressing oil biosynthesis enzymes generally had a limited effect on oil accumulation in seeds (Wu and Chappell, 2008), the limit of enhanced oil accumulation in the green parts of plants is not yet known. As an example, high-level terpene production was engineered in tobacco by diverting carbon flows that result in more than 1000-fold increase in specific terpene biosynthesis (Wu et al., 2006).

Assuming a conservative 170 metric tons/ha tobacco harvest, which translates into approximately 20 tons of dry biomass, engineered tobacco plants with an achieved level of 6% FA per dry weight will produce at least twice as much bio-diesel as a hectare of soybean (Durrett et al., 2008). However, it should be recognized that extraction of biofuel grade FA from green biomass represents a bigger processing challenge compared with the well-established method of pressing oil from plant seeds. Following oil extraction, which will also produce glycerine, the remaining biomass could be further utilized for ethanol production by fermentation (Hahn-Hägerdal et al., 2006). The concept and advantages of tobacco biomass for ethanol production have been proven by a Virginia start-up company, Floyd Agricultural Energy Cooperative Ltd., in the early 1980's during the surge of oil prices caused by an Organization of Petroleum-Exporting Countries embargo. As a result of recent progress made with respect to decreasing the cost of enzymes, optimizing the method of pretreatment, and developing more efficient yeast strains, fermenting tobacco biomass into ethanol has become even more feasible (Olofsson et al., 2008). By generating both biofuel oil and ethanol, tobacco has the potential to produce more energy per hectare than any other non-food crop.